Plant-based Protein Supplements Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region:

Description

The global market for plant-based protein supplements is set for a robust expansion over the next decade, driven by evolving consumer preferences towards healthier dietary alternatives. According to the latest projections spanning from 2024 to 2031, the market is expected to exhibit a value-based Compound Annual Growth Rate (CAGR) of 7.0%, with revenue projected to surge from US$ 1.09 billion to approximately US$ 1.7 billion by 2033.

Key Trends Driving Market Growth

Consumer's Shift Towards Healthier Alternatives:

The burgeoning demand for plant-based protein supplements is fueled by consumers' increasing desire for healthier dietary alternatives to meat and dairy products. As perceptions of healthy eating evolve, consumers are actively seeking ways to meet their protein dietary requirements, with plant-based options emerging as preferred choices due to their allergen-free nature and nutritional benefits.

Growing Focus on Weight Management:

With a rising emphasis on weight loss and obesity prevention, consumers are turning to nutritious foods, including plant-based protein supplements, to support their health and fitness goals. These supplements offer a complete profile of essential amino acids, aiding in muscle development, bone preservation, and metabolism acceleration, thus driving their adoption among weight-conscious individuals.

Rising Awareness of Food Sensitivities:

Increasing prevalence of food sensitivities, such as lactose intolerance, is influencing consumer preferences towards plant-based diets. Plant-based protein supplements, being allergen-free and nutritionally rich, are gaining traction as substitutes for dairy proteins, catering to the needs of lactose-intolerant consumers and fueling market growth.

Adoption of Vegan Lifestyles:

The growing popularity of veganism, particularly in developed countries, is contributing to increased sales of plant-based protein supplements. As more individuals opt for vegan diets for ethical, environmental, and health reasons, the demand for plant-derived protein sources is on the rise, propelling market expansion.

Rising Popularity of Organic and Blended Proteins:

The rising preference for organic foods and blended plant protein products presents lucrative opportunities for market players. With consumers gravitating towards natural, organic, and sustainable options, manufacturers are innovating their product offerings to cater to this demand, further driving market growth.

Challenges Hindering Market Expansion

Lack of Awareness and Taste Preferences:

Despite the growing demand for protein supplements, challenges persist, including limited consumer awareness of plant-based options and concerns regarding taste and texture. Addressing these barriers will be crucial for unlocking the full potential of the market.

Price Sensitivity:

The premium pricing of plant-based protein supplements may deter price-sensitive consumers, particularly in developing countries, limiting market accessibility and growth potential. Strategies to enhance affordability and value proposition will be essential for broader market penetration.

Country-wise Insights

Latin America's Growth Leader: Chile: In Latin America, Chile is experiencing the highest growth rate for plant-based protein supplements. This growth is significant, driven by the region's focus on obesity prevention over addressing malnutrition. Consequently, the market for plant-based protein supplements in Latin America is anticipated to grow substantially by 2031.

Propelling Growth in South Asia and Pacific: India:

In the South Asian & Pacific market, India is the main driver of growth for plant-based protein supplements. With a significant market share, India's growth is fueled by its large vegetarian population, making it one of the leading markets globally for plant-based healthcare products.

Competitive Analysis

Leading manufacturers such as Glanbia and MusclePharm are at the forefront of innovation, investing in research and development to create novel supplement formulations that meet evolving consumer needs. With a focus on customer-centricity and product diversification, these companies are driving industry growth and catering to the burgeoning demand for plant-based protein supplements worldwide.

Key companies profiled:

Axiom foods
Glanbia plc
NOW Health Group Inc.
MusclePharm Corporation
Ingredion Inc.
Roquette Freres
DuPont
Archer-Daniels-Midland Co.
Batory Foods
The Scoular Company

Plant-based Protein Supplements Industry Research by Category

Plant-based Protein Supplements Market by Product Type:

Soy Protein
Wheat Protein
Pea Protein
Others

Plant-based Protein Supplements Market by Application:

Hypermarkets/Supermarkets
Specialty Stores
Pharmacy & Drug Stores
Online Retail

Plant-based Protein Supplements Market by Region

North America
Latin America
Europe
South Asia & Pacific
East Asia
Middle East & Africa

1. Executive Summary

1.1. Global Plant-based Protein Supplements Market Snapshot
1.2. Future Projections
1.3. Key Market Trends
1.4. Regional Snapshot, by Value and Volume, 2023
1.5. Analyst Recommendations

2. Market Overview

2.1. Market Definitions and Segmentations
2.2. Market Dynamics
- 2.2.1. Drivers
- 2.2.2. Restraints
- 2.2.3. Market Opportunities
2.3. Value Chain Analysis
2.4. Porter's Five Forces Analysis
2.5. COVID-19 Impact Analysis
- 2.5.1. Supply
- 2.5.2. Demand
2.6. Impact of Ukraine-Russia Conflict
2.7. Economic Overview
- 2.7.1. World Economic Projections
2.8. PESTLE Analysis

3. Production Output and Trade Statistics, 2018 - 2023

3.1. Global Plant-based Protein Supplements Production Output, by Region, Value (US$ Bn) and Volume, 2018 - 2023
- 3.1.1. North America
- 3.1.2. Europe
- 3.1.3. Asia Pacific
- 3.1.4. Latin America
- 3.1.5. Middle East and Africa

4. Price Analysis, 2018 - 2023

4.1. Global Average Price Analysis, by Product Type,2018 - 2023
4.2. Prominent Factor Affecting Plant-based Protein Supplements Prices
4.3. Global Average Price Analysis, by Region

5. Global Plant-based Protein Supplements Market Outlook, 2018 - 2031

5.1. Global Plant-based Protein Supplements Market Outlook, by Product Type, Value (US$ Bn) and Volume, 2018 - 2031
- 5.1.1. Key Highlights
  - 5.1.1.1. Soy Protein
  - 5.1.1.2. Wheat Protein
  - 5.1.1.3. Pea Protein
  - 5.1.1.4. Others
5.2. Global Plant-based Protein Supplements Market Outlook, by Application, Value (US$ Bn) and Volume, 2018 - 2031
- 5.2.1. Key Highlights
  - 5.2.1.1. Hypermarkets/Supermarkets
  - 5.2.1.2. Specialty Stores
  - 5.2.1.3. Pharmacy & Drug Stores
  - 5.2.1.4. Online Retail
5.3. Global Plant-based Protein Supplements Market Outlook, by Region, Value (US$ Bn) and Volume, 2018 - 2031
- 5.3.1. Key Highlights
  - 5.3.1.1. North America
  - 5.3.1.2. Europe
  - 5.3.1.3. Asia Pacific
  - 5.3.1.4. Latin America
  - 5.3.1.5. Middle East & Africa

6. North America Plant-based Protein Supplements Market Outlook, 2018 - 2031

6.1. North America Plant-based Protein Supplements Market Outlook, by Product Type, Value (US$ Bn) and Volume, 2018 - 2031
- 6.1.1. Key Highlights
  - 6.1.1.1. Soy Protein
  - 6.1.1.2. Wheat Protein
  - 6.1.1.3. Pea Protein
  - 6.1.1.4. Others
6.2. North America Plant-based Protein Supplements Market Outlook, by Application, Value (US$ Bn) and Volume, 2018 - 2031
- 6.2.1. Key Highlights
  - 6.2.1.1. Hypermarkets/Supermarkets
  - 6.2.1.2. Specialty Stores
  - 6.2.1.3. Pharmacy & Drug Stores
  - 6.2.1.4. Online Retail
- 6.2.2. BPS Analysis/Market Attractiveness Analysis
6.3. North America Plant-based Protein Supplements Market Outlook, by Country, Value (US$ Bn) and Volume, 2018 - 2031
- 6.3.1. Key Highlights
  - 6.3.1.1. U.S. Plant-based Protein Supplements Market by Product Type, Value (US$ Bn) and Volume, 2018 - 2031
  - 6.3.1.2. U.S. Plant-based Protein Supplements Market by Application, Value (US$ Bn) and Volume, 2018 - 2031
  - 6.3.1.3. Canada Plant-based Protein Supplements Market by Product Type, Value (US$ Bn) and Volume, 2018 - 2031
  - 6.3.1.4. Canada Plant-based Protein Supplements Market by Application, Value (US$ Bn) and Volume, 2018 - 2031
- 6.3.2. BPS Analysis/Market Attractiveness Analysis

7. Europe Plant-based Protein Supplements Market Outlook, 2018 - 2031

7.1. Europe Plant-based Protein Supplements Market Outlook, by Product Type, Value (US$ Bn) and Volume, 2018 - 2031
- 7.1.1. Key Highlights
  - 7.1.1.1. Soy Protein
  - 7.1.1.2. Wheat Protein
  - 7.1.1.3. Pea Protein
  - 7.1.1.4. Others
7.2. Europe Plant-based Protein Supplements Market Outlook, by Application, Value (US$ Bn) and Volume, 2018 - 2031
- 7.2.1. Key Highlights
  - 7.2.1.1. Hypermarkets/Supermarkets
  - 7.2.1.2. Specialty Stores
  - 7.2.1.3. Pharmacy & Drug Stores
  - 7.2.1.4. Online Retail
7.3. Europe Plant-based Protein Supplements Market Outlook, by Country, Value (US$ Bn) and Volume, 2018 - 2031
- 7.3.1. Key Highlights
  - 7.3.1.1. Germany Plant-based Protein Supplements Market by Product Type, Value (US$ Bn) and Volume, 2018 - 2031
  - 7.3.1.2. Germany Plant-based Protein Supplements Market by Application, Value (US$ Bn) and Volume, 2018 - 2031
  - 7.3.1.3. U.K. Plant-based Protein Supplements Market by Product Type, Value (US$ Bn) and Volume, 2018 - 2031
  - 7.3.1.4. U.K. Plant-based Protein Supplements Market by Application, Value (US$ Bn) and Volume, 2018 - 2031
  - 7.3.1.5. France Plant-based Protein Supplements Market by Product Type, Value (US$ Bn) and Volume, 2018 - 2031
  - 7.3.1.6. France Plant-based Protein Supplements Market by Application, Value (US$ Bn) and Volume, 2018 - 2031
  - 7.3.1.7. Italy Plant-based Protein Supplements Market by Product Type, Value (US$ Bn) and Volume, 2018 - 2031
  - 7.3.1.8. Italy Plant-based Protein Supplements Market by Application, Value (US$ Bn) and Volume, 2018 - 2031
  - 7.3.1.9. Turkey Plant-based Protein Supplements Market by Product Type, Value (US$ Bn) and Volume, 2018 - 2031
  - 7.3.1.10. Turkey Plant-based Protein Supplements Market by Application, Value (US$ Bn) and Volume, 2018 - 2031
  - 7.3.1.11. Russia Plant-based Protein Supplements Market by Product Type, Value (US$ Bn) and Volume, 2018 - 2031
  - 7.3.1.12. Russia Plant-based Protein Supplements Market by Application, Value (US$ Bn) and Volume, 2018 - 2031
  - 7.3.1.13. Rest of Europe Plant-based Protein Supplements Market by Product Type, Value (US$ Bn) and Volume, 2018 - 2031
  - 7.3.1.14. Rest of Europe Plant-based Protein Supplements Market by Application, Value (US$ Bn) and Volume, 2018 - 2031
- 7.3.2. BPS Analysis/Market Attractiveness Analysis

8. Asia Pacific Plant-based Protein Supplements Market Outlook, 2018 - 2031

8.1. Asia Pacific Plant-based Protein Supplements Market Outlook, by Product Type, Value (US$ Bn) and Volume, 2018 - 2031
- 8.1.1. Key Highlights
  - 8.1.1.1. Soy Protein
  - 8.1.1.2. Wheat Protein
  - 8.1.1.3. Pea Protein
  - 8.1.1.4. Others
8.2. Asia Pacific Plant-based Protein Supplements Market Outlook, by Application, Value (US$ Bn) and Volume, 2018 - 2031
- 8.2.1. Key Highlights
  - 8.2.1.1. Hypermarkets/Supermarkets
  - 8.2.1.2. Specialty Stores
  - 8.2.1.3. Pharmacy & Drug Stores
  - 8.2.1.4. Online Retail
- 8.2.2. BPS Analysis/Market Attractiveness Analysis
8.3. Asia Pacific Plant-based Protein Supplements Market Outlook, by Country, Value (US$ Bn) and Volume, 2018 - 2031
- 8.3.1. Key Highlights
  - 8.3.1.1. China Plant-based Protein Supplements Market by Product Type, Value (US$ Bn) and Volume, 2018 - 2031
  - 8.3.1.2. China Plant-based Protein Supplements Market by Application, Value (US$ Bn) and Volume, 2018 - 2031
  - 8.3.1.3. Japan Plant-based Protein Supplements Market by Product Type, Value (US$ Bn) and Volume, 2018 - 2031
  - 8.3.1.4. Japan Plant-based Protein Supplements Market by Application, Value (US$ Bn) and Volume, 2018 - 2031
  - 8.3.1.5. South Korea Plant-based Protein Supplements Market by Product Type, Value (US$ Bn) and Volume, 2018 - 2031
  - 8.3.1.6. South Korea Plant-based Protein Supplements Market by Application, Value (US$ Bn) and Volume, 2018 - 2031
  - 8.3.1.7. India Plant-based Protein Supplements Market by Product Type, Value (US$ Bn) and Volume, 2018 - 2031
  - 8.3.1.8. India Plant-based Protein Supplements Market by Application, Value (US$ Bn) and Volume, 2018 - 2031
  - 8.3.1.9. Southeast Asia Plant-based Protein Supplements Market by Product Type, Value (US$ Bn) and Volume, 2018 - 2031
  - 8.3.1.10. Southeast Asia Plant-based Protein Supplements Market by Application, Value (US$ Bn) and Volume, 2018 - 2031
  - 8.3.1.11. Rest of Asia Pacific Plant-based Protein Supplements Market by Product Type, Value (US$ Bn) and Volume, 2018 - 2031
  - 8.3.1.12. Rest of Asia Pacific Plant-based Protein Supplements Market by Application, Value (US$ Bn) and Volume, 2018 - 2031
- 8.3.2. BPS Analysis/Market Attractiveness Analysis

9. Latin America Plant-based Protein Supplements Market Outlook, 2018 - 2031

9.1. Latin America Plant-based Protein Supplements Market Outlook, by Product Type, Value (US$ Bn) and Volume, 2018 - 2031
- 9.1.1. Key Highlights
  - 9.1.1.1. Soy Protein
  - 9.1.1.2. Wheat Protein
  - 9.1.1.3. Pea Protein
  - 9.1.1.4. Others
9.2. Latin America Plant-based Protein Supplements Market Outlook, by Application, Value (US$ Bn) and Volume, 2018 - 2031
- 9.2.1. Key Highlights
  - 9.2.1.1. Hypermarkets/Supermarkets
  - 9.2.1.2. Specialty Stores
  - 9.2.1.3. Pharmacy & Drug Stores
  - 9.2.1.4. Online Retail
- 9.2.2. BPS Analysis/Market Attractiveness Analysis
9.3. Latin America Plant-based Protein Supplements Market Outlook, by Country, Value (US$ Bn) and Volume, 2018 - 2031
- 9.3.1. Key Highlights
  - 9.3.1.1. Brazil Plant-based Protein Supplements Market by Product Type, Value (US$ Bn) and Volume, 2018 - 2031
  - 9.3.1.2. Brazil Plant-based Protein Supplements Market by Application, Value (US$ Bn) and Volume, 2018 - 2031
  - 9.3.1.3. Mexico Plant-based Protein Supplements Market by Product Type, Value (US$ Bn) and Volume, 2018 - 2031
  - 9.3.1.4. Mexico Plant-based Protein Supplements Market by Application, Value (US$ Bn) and Volume, 2018 - 2031
  - 9.3.1.5. Argentina Plant-based Protein Supplements Market by Product Type, Value (US$ Bn) and Volume, 2018 - 2031
  - 9.3.1.6. Argentina Plant-based Protein Supplements Market by Application, Value (US$ Bn) and Volume, 2018 - 2031
  - 9.3.1.7. Rest of Latin America Plant-based Protein Supplements Market by Product Type, Value (US$ Bn) and Volume, 2018 - 2031
  - 9.3.1.8. Rest of Latin America Plant-based Protein Supplements Market by Application, Value (US$ Bn) and Volume, 2018 - 2031
- 9.3.2. BPS Analysis/Market Attractiveness Analysis

10. Middle East & Africa Plant-based Protein Supplements Market Outlook, 2018 - 2031

10.1. Middle East & Africa Plant-based Protein Supplements Market Outlook, by Product Type, Value (US$ Bn) and Volume, 2018 - 2031
- 10.1.1. Key Highlights
  - 10.1.1.1. Soy Protein
  - 10.1.1.2. Wheat Protein
  - 10.1.1.3. Pea Protein
  - 10.1.1.4. Others
10.2. Middle East & Africa Plant-based Protein Supplements Market Outlook, by Application, Value (US$ Bn) and Volume, 2018 - 2031
- 10.2.1. Key Highlights
  - 10.2.1.1. Hypermarkets/Supermarkets
  - 10.2.1.2. Specialty Stores
  - 10.2.1.3. Pharmacy & Drug Stores
  - 10.2.1.4. Online Retail
- 10.2.2. BPS Analysis/Market Attractiveness Analysis
10.3. Middle East & Africa Plant-based Protein Supplements Market Outlook, by Country, Value (US$ Bn) and Volume, 2018 - 2031
- 10.3.1. Key Highlights
  - 10.3.1.1. GCC Plant-based Protein Supplements Market by Product Type, Value (US$ Bn) and Volume, 2018 - 2031
  - 10.3.1.2. GCC Plant-based Protein Supplements Market by Application, Value (US$ Bn) and Volume, 2018 - 2031
  - 10.3.1.3. South Africa Plant-based Protein Supplements Market by Product Type, Value (US$ Bn) and Volume, 2018 - 2031
  - 10.3.1.4. South Africa Plant-based Protein Supplements Market by Application, Value (US$ Bn) and Volume, 2018 - 2031
  - 10.3.1.5. Egypt Plant-based Protein Supplements Market by Product Type, Value (US$ Bn) and Volume, 2018 - 2031
  - 10.3.1.6. Egypt Plant-based Protein Supplements Market by Application, Value (US$ Bn) and Volume, 2018 - 2031
  - 10.3.1.7. Nigeria Plant-based Protein Supplements Market by Product Type, Value (US$ Bn) and Volume, 2018 - 2031
  - 10.3.1.8. Nigeria Plant-based Protein Supplements Market by Application, Value (US$ Bn) and Volume, 2018 - 2031
  - 10.3.1.9. Rest of Middle East & Africa Plant-based Protein Supplements Market by Product Type, Value (US$ Bn) and Volume, 2018 - 2031
  - 10.3.1.10. Rest of Middle East & Africa Plant-based Protein Supplements Market by Application, Value (US$ Bn) and Volume, 2018 - 2031
- 10.3.2. BPS Analysis/Market Attractiveness Analysis

11. Competitive Landscape

11.1. By End User vs by Product Type Heatmap
11.2. Company Market Share Analysis, 2023
11.3. Competitive Dashboard
11.4. Company Profiles
- 11.4.1. Axiom foods
  - 11.4.1.1. Company Overview
  - 11.4.1.2. Product Portfolio
  - 11.4.1.3. Financial Overview
  - 11.4.1.4. Business Strategies and Development
- 11.4.2. Glanbia plc
  - 11.4.2.1. Company Overview
  - 11.4.2.2. Product Portfolio
  - 11.4.2.3. Financial Overview
  - 11.4.2.4. Business Strategies and Development
- 11.4.3. NOW Health Group Inc.
  - 11.4.3.1. Company Overview
  - 11.4.3.2. Product Portfolio
  - 11.4.3.3. Financial Overview
  - 11.4.3.4. Business Strategies and Development
- 11.4.4. MusclePharm Corporation
  - 11.4.4.1. Company Overview
  - 11.4.4.2. Product Portfolio
  - 11.4.4.3. Financial Overview
  - 11.4.4.4. Business Strategies and Development
- 11.4.5. Ingredion Inc.
  - 11.4.5.1. Company Overview
  - 11.4.5.2. Product Portfolio
  - 11.4.5.3. Financial Overview
  - 11.4.5.4. Business Strategies and Development
- 11.4.6. Roquette Freres
  - 11.4.6.1. Company Overview
  - 11.4.6.2. Product Portfolio
  - 11.4.6.3. Financial Overview
  - 11.4.6.4. Business Strategies and Development
- 11.4.7. DuPont
  - 11.4.7.1. Company Overview
  - 11.4.7.2. Product Portfolio
  - 11.4.7.3. Financial Overview
  - 11.4.7.4. Business Strategies and Development
- 11.4.8. Archer-Daniels-Midland Co.
  - 11.4.8.1. Company Overview
  - 11.4.8.2. Product Portfolio
  - 11.4.8.3. Financial Overview
  - 11.4.8.4. Business Strategies and Development
- 11.4.9. Batory Foods
  - 11.4.9.1. Company Overview
  - 11.4.9.2. Product Portfolio
  - 11.4.9.3. Financial Overview
  - 11.4.9.4. Business Strategies and Development
- 11.4.10. The Scoular Company
  - 11.4.10.1. Company Overview
  - 11.4.10.2. Product Portfolio
  - 11.4.10.3. Financial Overview
  - 11.4.10.4. Business Strategies and Development

12. Appendix

12.1. Research Methodology
12.2. Report Assumptions
12.3. Acronyms and Abbreviations