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Global Plant-Based Protein Supplements Market Share, Size, Demand, Analysis: By Origin: Organic, Conventional; By Raw Material: Soy, Spirulina, Pumpkin Seed, Hemp, Rice, Pea, Others; By Product Type: Protein Powder, Protein Bars, Ready-to-Drink; By Application; By Distribution Channels; Regional Analysis; Competitive Landscape; 2023-2028
Global Plant-Based Protein Supplements Market Outlook
The global market size for plant-based protein supplements reached a value of more than USD 5.78 billion in 2022. The global plant-based protein supplements market is expected to grow at a CAGR of 5.70% between 2023 and 2028.
Key Trends in the Market
Plant-based protein supplements are a type of nutritional supplement that are made from plant-based components and are used for the repair and growth of the human body cells and tissues. They are low in calorie and fat as compared to animal protein but contain a high content of fibre and essential nutrients such as antioxidants, vitamins, and minerals. They help in reducing cholesterol levels and also in reducing the markers of heart diseases.
- Rising awareness regarding nutritional value of the plant-based products such as better bioavailability, better absorption by the human body, lower toxicity risk, high amino acid and low sodium is projected to increase its demand by the consumers, helping in the plant-based protein supplements market growth.
- Environmentally friendly proteins and their supplements are gaining popularity and are subjected to observe a rapid increase in demand. This is due to their potential to reduce the emission of greenhouse gases and encourage healthier living.
- Change in preference towards plant-based protein supplements is a growing trend owing to moral considerations and increasing adoption of veganism. More people are adopting vegan lifestyles in order to end cruelty to animals all around the globe which is acting as a major factor fuelling the market.
Market Analysis
Based on origin, the plant-based protein supplements market can be bifurcated into organic and conventional. By raw material, the market is divided into soy, spirulina, pumpkin seed, hemp, rice, pea, and others. On the basis of product type, the market is segmented into protein powder, protein bars, and ready-to-drink. Based on application, the market is bifurcated into sports nutrition and functional food. On the basis of distribution channel, the market is divided into hypermarkets and supermarkets, specialty stores, and online, among others. By region, the market is divided into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global plant-based protein supplements market covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.
- Glanbia plc
- Hormel Foods Corporation
- The Bountiful Company
- Abbott Laboratories
- NOW Health Group, Inc.
- Others
Market Share by Raw Material
Soy protein segment accounts for a sizable share in the plant-based protein supplements market because of rising popularity of it as a vegetarian protein source and presence of glutamine that helps in rapid absorption and muscle recovery. Moreover, soy improves the functioning of the immune system, helps in preventing cardiovascular diseases, and promotes healthy bones which has encouraged its wide acceptance all around the globe. Awareness regarding lactose intolerance and glutamic disorders have also increased the demand for soy protein as an alternative protein supplement, contributing to the growth of the market.
Market Share by Product Type
Protein powder finds numerous applications in end uses such as food and beverage which has allowed it to account for a larger share in the market. Numerous distribution channels and increasing online sales of protein powders are further fuelling its growth. Moreover, increasing number of prominent market players such as Glanbia plc are acting as a major factor helping in the growth of the protein powder and plant-based protein supplements market.
Protein bars are also expected to grow in the forecast period because they are convenient for grab and go situations, help to support the muscle mass, and increase protein synthesis. Busy and hectic lifestyles of the individuals is projected to expand the protein bar segment in the market.
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Competitive Landscape
Glanbia plc is an Irish nutrition group that manufactures and exports cheese, specialty non-dairy ingredients, mineral premixes, sports nutrition, dairy ingredients, and vitamins to consumers all around the globe. It has its headquarter in Kilkenny in Ireland and was founded in 1997. They aim to provide the highest quality nutrition for every step of life to their consumers.
Hormel Foods Corporation was established in 1891 and is headquartered in Minnesota, United States. It is a meat and food processing company that mainly packs and sells frozen items, meats, and refrigerated meal solutions such as sausage, chicken, lamb, ham, beef, and other pork products to the consumers globally.
The Bountiful Company was founded in 1971 and is based in New York, United States. It is a dietary supplements company that, with the help of science and nature, manufacturers and offers a wide range of nutritional supplements along with herbs, vitamins, sport, and mineral products to consumers around the world.
Other market players include Abbott Laboratories, and NOW Health Group, Inc., among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Origin |
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| Breakup by Raw Material |
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| Breakup by Product Type |
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| Breakup by Application |
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| Breakup by Distribution Channels |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Industry Opportunities and Challenges
8 Global Plant-Based Protein Supplements Market Analysis
8.1 Key Industry Highlights
8.2 Global Plant-Based Protein Supplements Historical Market (2018-2022)
8.3 Global Plant-Based Protein Supplements Market Forecast (2023-2028)
8.4 Global Plant-Based Protein Supplements Market by Origin
8.4.1 Organic
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2022)
8.4.1.3 Forecast Trend (2023-2028)
8.4.2 Conventional
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2022)
8.4.2.3 Forecast Trend (2023-2028)
8.5 Global Plant-Based Protein Supplements Market by Raw Material
8.5.1 Soy
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2022)
8.5.1.3 Forecast Trend (2023-2028)
8.5.2 Spirulina
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2022)
8.5.2.3 Forecast Trend (2023-2028)
8.5.3 Pumpkin Seed
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2018-2022)
8.5.3.3 Forecast Trend (2023-2028)
8.5.4 Hemp
8.5.4.1 Market Share
8.5.4.2 Historical Trend (2018-2022)
8.5.4.3 Forecast Trend (2023-2028)
8.5.5 Rice
8.5.5.1 Market Share
8.5.5.2 Historical Trend (2018-2022)
8.5.5.3 Forecast Trend (2023-2028)
8.5.6 Pea
8.5.6.1 Market Share
8.5.6.2 Historical Trend (2018-2022)
8.5.6.3 Forecast Trend (2023-2028)
8.5.7 Others
8.6 Global Plant-Based Protein Supplements Market by Product Type
8.6.1 Protein Powder
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2018-2022)
8.6.1.3 Forecast Trend (2023-2028)
8.6.2 Protein Bars
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2022)
8.6.2.3 Forecast Trend (2023-2028)
8.6.3 Ready-to-Drink
8.6.3.1 Market Share
8.6.3.2 Historical Trend (2018-2022)
8.6.3.3 Forecast Trend (2023-2028)
8.7 Global Plant-Based Protein Supplements Market by Application
8.7.1 Sports Nutrition
8.7.1.1 Market Share
8.7.1.2 Historical Trend (2018-2022)
8.7.1.3 Forecast Trend (2023-2028)
8.7.2 Functional Food
8.7.2.1 Market Share
8.7.2.2 Historical Trend (2018-2022)
8.7.2.3 Forecast Trend (2023-2028)
8.8 Global Plant-Based Protein Supplements Market by Distribution Channels
8.8.1 Hypermarkets and Supermarkets
8.8.1.1 Market Share
8.8.1.2 Historical Trend (2018-2022)
8.8.1.3 Forecast Trend (2023-2028)
8.8.2 Specialty Stores
8.8.2.1 Market Share
8.8.2.2 Historical Trend (2018-2022)
8.8.2.3 Forecast Trend (2023-2028)
8.8.3 Online
8.8.3.1 Market Share
8.8.3.2 Historical Trend (2018-2022)
8.8.3.3 Forecast Trend (2023-2028)
8.8.4 Others
8.9 Global Plant-Based Protein Supplements Market by Region
8.9.1 Market Share
8.9.1.1 North America
8.9.1.2 Europe
8.9.1.3 Asia Pacific
8.9.1.4 Latin America
8.9.1.5 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.1.3 Breakup by Country
9.1.3.1 United States of America
9.1.3.2 Canada
9.2 Europe
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
9.2.3 Breakup by Country
9.2.3.1 United Kingdom
9.2.3.2 Germany
9.2.3.3 France
9.2.3.4 Italy
9.2.3.5 Others
9.3 Asia Pacific
9.3.1 Historical Trend (2018-2022)
9.3.2 Forecast Trend (2023-2028)
9.3.3 Breakup by Country
9.3.3.1 China
9.3.3.2 Japan
9.3.3.3 India
9.3.3.4 ASEAN
9.3.3.5 Australia
9.3.3.6 Others
9.4 Latin America
9.4.1 Historical Trend (2018-2022)
9.4.2 Forecast Trend (2023-2028)
9.4.3 Breakup by Country
9.4.3.1 Brazil
9.4.3.2 Argentina
9.4.3.3 Mexico
9.4.3.4 Others
9.5 Middle East and Africa
9.5.1 Historical Trend (2018-2022)
9.5.2 Forecast Trend (2023-2028)
9.5.3 Breakup by Country
9.5.3.1 Saudi Arabia
9.5.3.2 United Arab Emirates
9.5.3.3 Nigeria
9.5.3.4 South Africa
9.5.3.5 Others
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Value Chain Analysis
12 Competitive Landscape
12.1 Market Structure
12.2 Company Profiles
12.2.1 Glanbia plc
12.2.1.1 Company Overview
12.2.1.2 Product Portfolio
12.2.1.3 Demographic Reach and Achievements
12.2.1.4 Certifications
12.2.2 Hormel Foods Corporation
12.2.2.1 Company Overview
12.2.2.2 Product Portfolio
12.2.2.3 Demographic Reach and Achievements
12.2.2.4 Certifications
12.2.3 The Bountiful Company
12.2.3.1 Company Overview
12.2.3.2 Product Portfolio
12.2.3.3 Demographic Reach and Achievements
12.2.3.4 Certifications
12.2.4 Abbott Laboratories
12.2.4.1 Company Overview
12.2.4.2 Product Portfolio
12.2.4.3 Demographic Reach and Achievements
12.2.4.4 Certifications
12.2.5 NOW Health Group, Inc.
12.2.5.1 Company Overview
12.2.5.2 Product Portfolio
12.2.5.3 Demographic Reach and Achievements
12.2.5.4 Certifications
12.2.6 Others
13 Industry Events and Developments
List of Key Figures and Tables
1. Global Plant-Based Protein Supplements Market: Key Industry Highlights, 2017 and 2027
2. Global Plant-Based Protein Supplements Historical Market: Breakup by Raw Material (USD Million), 2018-2022
3. Global Plant-Based Protein Supplements Market Forecast: Breakup by Raw Material (USD Million), 2023-2028
4. Global Plant-Based Protein Supplements Historical Market: Breakup by Product Type (USD Million), 2018-2022
5. Global Plant-Based Protein Supplements Market Forecast: Breakup by Product Type (USD Million), 2023-2028
6. Global Plant-Based Protein Supplements Historical Market: Breakup by Application (USD Million), 2018-2022
7. Global Plant-Based Protein Supplements Market Forecast: Breakup by Application (USD Million), 2023-2028
8. Global Plant-Based Protein Supplements Historical Market: Breakup by Distribution Channels (USD Million), 2018-2022
9. Global Plant-Based Protein Supplements Market Forecast: Breakup by Distribution Channels (USD Million), 2023-2028
10. Global Plant-Based Protein Supplements Historical Market: Breakup by Region (USD Million), 2018-2022
11. Global Plant-Based Protein Supplements Market Forecast: Breakup by Region (USD Million), 2023-2028
12. North America Plant-Based Protein Supplements Historical Market: Breakup by Country (USD Million), 2018-2022
13. North America Plant-Based Protein Supplements Market Forecast: Breakup by Country (USD Million), 2023-2028
14. Europe Plant-Based Protein Supplements Historical Market: Breakup by Country (USD Million), 2018-2022
15. Europe Plant-Based Protein Supplements Market Forecast: Breakup by Country (USD Million), 2023-2028
16. Asia Pacific Plant-Based Protein Supplements Historical Market: Breakup by Country (USD Million), 2018-2022
17. Asia Pacific Plant-Based Protein Supplements Market Forecast: Breakup by Country (USD Million), 2023-2028
18. Latin America Plant-Based Protein Supplements Historical Market: Breakup by Country (USD Million), 2018-2022
19. Latin America Plant-Based Protein Supplements Market Forecast: Breakup by Country (USD Million), 2023-2028
20. Middle East and Africa Plant-Based Protein Supplements Historical Market: Breakup by Country (USD Million), 2018-2022
21. Middle East and Africa Plant-Based Protein Supplements Market Forecast: Breakup by Country (USD Million), 2023-2028
22. Global Plant-Based Protein Supplements Market Structure
Key Questions Answered in the Report
The global market size for plant-based protein supplements reached a value of more than USD 5.78 billion in 2022.
The market is expected to grow at a CAGR of 5.70% between 2023 and 2028.
The major market drivers include lactose allergies, rising interest in protein supplements, and growing prevalence of vegan lifestyles.
The key trends of the market are rising awareness, availability of tasty and environmentally friendly proteins, and increasing demand for on-the-go and healthy protein options.
Key market players include Glanbia plc, Hormel Foods Corporation, The Bountiful Company, Abbott Laboratories, and NOW Health Group, Inc., among others.
Plant-based protein supplements are a type of nutritional supplement that are made from plant-based components and are used for the repair and growth of the human body cell and tissue.
They are low in calorie and fat as compared to animal protein but contain a high content of fibre and essential nutrients such as antioxidants, vitamins, and minerals.
The global plant-based protein supplements market is segmented based on origin, raw material, product type, application, distribution channel, and region.
They help in reducing the cholesterol level and also reducing the markers of heart diseases.
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