Market Research Report
Global Plant-Based Protein Supplements Market Size study, By Raw Material, By Product, By Distribution Channel, By Application and Regional Forecasts 2021-2027
|Global Plant-Based Protein Supplements Market Size study, By Raw Material, By Product, By Distribution Channel, By Application and Regional Forecasts 2021-2027|
Published: January 10, 2022
Bizwit Research & Consulting LLP
Delivery time: 2-3 business days
Global Plant-Based Protein Supplements Market is valued at approximately USD 5.35 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 8.6 % over the forecast period 2021-2027. Plant-Based Protein Supplements are derived from various nutritional rich plant sources such as pea, soy, brown rice etc. These are pure vegan products beneficial for health.
The rising demand for nutrition-rich and healthy plant-based products has led to the adoption of Plant-Based Protein Supplements across the forecast period. For Instance: according to People for Ethical Treatment of Animals in 2019, Vegan foods becomes more mainstream. People are adopting plant-based products over animal-based products. PETA states that people are ditching cow's milk for plant-based milk. The popular non-veg restaurants Hardee's, Subway, and Denny's now started offering beyond meat options. Baskin-Robbins now added three vegan ice-cream flavors. The demand for vegan products is increasing rapidly and thus restaurants are exploring more vegan products such as banana blossoms, unusual seed and nut butter etc. Minimizing meat consumption coupled with rising food allergies anticipates the growth of plant-based protein supplements market. Also, with the rising stringent government laws towards animal cruelty & environmental friendly products, the adoption & demand for Plant-Based Protein Supplements is likely to increase the market growth during the forecast period. However, fluctuating prices due to lack of supply and production management impede the growth of the market over the forecast period of 2021-2027.
The geographical regions considered for the global Plant-Based Protein Supplements market analysis includes Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is considered as the significant region across the globe in terms of huge market share due to the increasing awareness towards a healthy lifestyle, rising adoption of nutrition-rich products. Whereas, Asia-Pacific is also estimated to attain a maximum growth rate during 2021-2027. Factors such as increasing focus towards the end of animal cruelty, ethical values regarding meat consumption and a huge consumer base for vegan products would create beneficial growth forecasts for the Plant-Based Protein Supplements market across Asia-Pacific region.
Major market players included in this report are:
The Bountiful Company
IOVATE Health Sciences International, Inc.
WOODBOLT DISTRIBUTION LLC
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Raw material:
By Distribution Channel:
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year - 2018, 2019
Base year - 2020
Forecast period - 2021 to 2027
Target Audience of the Global Plant-Based Protein Supplements Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
List of figures