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Plant Based Protein Supplements Industry Overview

The global plant based protein supplements market size was valued at USD 5.35 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 8.6% from 2020 to 2028. 

The growth of the market can be attributed to the increasing awareness among consumers regarding the nutritional values of plant-based products such as low sodium and high amino acids. Customer preferences for plant-based protein supplements have been influenced due to factors such as minimizing the meat consumption following food safety, food allergies, moral reasons, and adoption of vegan culture to end animal cruelty. Additionally, the growing desire for environmentally friendly proteins is bolstering the market growth.

Mounting health diseases owing to hectic schedules and the nature of work, coupled with growing consumer awareness about the relationship between maintaining a healthy diet and exercising, are projected to result in increased demand for plant based protein supplements for sports nutrition, thereby benefitting the market growth.

Gather more insights about the market drivers, restrains and growth of the Global Plant Based Protein Supplements Market

U.S. plant based protein supplements market size, by product, 2018 - 2028 (USD Billion)

The U.S. emerged as the largest market in the North American region in 2020. A strong foothold of key plant based protein supplement manufacturers, increasing concerns over weight management, and rising focus on maintaining a healthy, vegan, and nutritious diet contribute to the growth of the market in the country.

Various awareness campaigns run by government agencies, non-governmental organizations, and companies have boosted consumer understanding pertaining to the nutritional benefits of protein supplements, which, in turn, is projected to fuel market growth.

The product line of some companies engaged in manufacturing protein supplements also includes organic and natural products, which is further driving the market. The use of attractive packaging methods has led to increased consumer awareness, which, in turn, has triggered the spending on protein supplements.

The demand for healthy food products that help to strengthen immunity increased significantly in 2020 globally. Around 50% of the retailers claimed a surge in demand for healthy products amid the COVID-19 pandemic during the March-April period. The growing preference for nutrition products that cater to general health has resulted in a rise in demand for protein, thus driving the protein supplements market.

Browse through Grand View Research’s Nutraceuticals & Functional Foods Industry Research Reports

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Plant Based Protein Supplements Market Segmentation

Grand View Research has segmented the global plant based protein supplements market report on the basis of raw material, product, distribution channel, application, and region:

  • Plant Based Protein Supplements Raw Material Outlook (Revenue, USD Million, 2017 – 2028)
    • Soy
    • Spirulina
    • Pumpkin Seed
    • Hemp
    • Rice
    • Pea
    • Others 
  • Plant Based Protein Supplements Product Outlook (Revenue, USD Million, 2017 – 2028)
    • Protein Powder
    • Protein Bars
    • Ready-to-Drink
    • Others 
  • Plant Based Protein Supplements Distribution Channel Outlook (Revenue, USD Million, 2017 – 2028)
    • Supermarkets/ Hypermarkets
    • Online Stores
    • Chemist/ Drugstores
    • Specialty Stores
    • Others 
  • Plant Based Protein Supplements Application Outlook (Revenue, USD Million, 2017 – 2028)
    • Sports Nutrition
    • Functional Food 
  • Plant Based Protein Supplements Regional Outlook (Revenue, USD Million, 2017 – 2028)
    • North America
    • Europe
    • Asia Pacific
    • Central & South America
    • Middle East & Africa (MEA)

Market Share Insights

  • June 2020: The federal government of Canada proposed to invest around USD 74 million in Merit Functional Foods, a Canadian company that produces plant-based proteins.

Key Companies profiled:

Some prominent players in the global plant based protein supplements market include:

  • Glanbia plc
  • AMCO Proteins
  • Quest Nutrition
  • NOW Foods
  • The Bountiful Company
  • MusclePharm Corporation
  • Abbott Laboratories
  • IOVATE Health Sciences International, Inc.
  • Transparent Labs
  • WOODBOLT DISTRIBUTION LLC

Order a free sample PDF of the Plant Based Protein Supplements Market Intelligence Study, published by Grand View Research.

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