Plant-based Protein Supplements Market is anticipated to grow from a worth of US$ 1.02 billion in 2022 to US$ 1.77 billion by the end of 2032, expanding at a CAGR of 5.6%.
Consumption of plant-based protein supplements makes approximately 1% to 3% of the global market for dietary supplements, measured in terms of value.
With a value share of over 40%, the North American market for plant-based protein supplements now leads the world. More than 60% of the market in North America is dominated by soy protein.
From 2017 to 2021, the market for plant-based protein supplements grew at a CAGR of 4.4%. The most prevalent and well-liked dietary supplements on the market are protein supplements. With the rise of veganism and increased awareness of ethical and environmental issues, plant-based protein supplements are becoming more and more popular. Soy, wheat, and pea plants are the primary sources of plant-based protein supplements.
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Why is Demand for Plant-based Protein Supplements Growing Steadily across Regions?
“Rising Consumer Desire for Healthy Alternative to Meat & Dairy”
Consumers’ perceptions of healthy eating are changing dramatically, and they are now aiming to meet the necessary protein dietary requirements in order to stay healthy.
The amount of protein consumed by vegans and vegetarians, as well as the sources of protein, are among the reasons driving the growth of the plant-based protein supplements industry. This is due to consumers’ preference for plant-based proteins, which are allergen-free and serve as a healthy alternative to meat and dairy.
“Market Proliferating on Back of Growing Demand for Weight Loss Products”
In order to lower the risk of obesity and other lifestyle-related disorders, consumers are increasingly preferring nutritious foods. An increasing number of consumers are following plant-based protein diets and joining health & fitness clubs, which is driving the growth of the health & wellness industry.
Increased obesity education and awareness is leading to high plant-based protein usage, which is believed to be the best source of protein for weight loss.
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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 Sales Channel:
- Hypermarkets/Supermarkets
- Specialty Stores
- Pharmacies & Drug Stores
- Online Retail
Plant-based Protein Supplements Market by Region:
- North America Plant-based Protein Supplements Market
- Latin America Plant-based Protein Supplements Market
- Europe Plant-based Protein Supplements Market
- South Asia and Pacific Plant-based Protein Supplements Market
- East Asia Plant-based Protein Supplements Market
- Middle East & Africa Plant-based Protein Supplements Market
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