According to the report by Expert Market Research (EMR), the global plant-based protein supplements market is projected to grow at a CAGR of 5.70% between 2024 and 2032. Aided by the surge in demand for plant-based nutrition, the market is expected to grow significantly by 2032.
Plant-based protein supplements, derived from sources such as peas, brown rice, and hemp, are gaining popularity as sustainable and health-conscious alternatives to traditional animal-based proteins. These supplements cater to a variety of dietary needs and preferences, including vegan, vegetarian, and lactose-intolerant consumers. Their rising popularity is a response to the growing awareness of the health benefits associated with plant-based diets and the global movement towards sustainable living.
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The plant-based protein supplements market growth is fuelled by several key factors. Primarily, the increasing health consciousness among consumers plays a significant role. With more people recognising the benefits of plant-based diets for health, weight management, and disease prevention, there is a growing demand for plant-based protein products.
Another significant driver boosting the plant-based protein supplements market demand is the ethical and environmental concerns associated with animal farming. The plant-based movement is not only about personal health but also about the wellbeing of animals and the planet. Plant-based protein supplements offer a more sustainable and ethical alternative to animal-derived proteins, aligning with the values of environmentally conscious consumers.
Moreover, the advancements in food technology have led to significant improvements in the taste, texture, and nutritional profile of plant-based protein supplements, making them more appealing to a broader audience.
The market caters to a wide range of consumers, including athletes, fitness enthusiasts, and individuals seeking healthy lifestyle choices. According to the plant-based protein supplements market analysis, these supplements are increasingly being incorporated into various dietary regimes, from casual fitness diets to professional athlete nutrition plans.
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The development of new plant-based protein sources and enhanced formulation techniques is likely to further improve the appeal and nutritional value of these supplements. Additionally, the growing trend of personalised nutrition could see plant-based protein supplements tailored to individual health and dietary needs.
Plant-Based Protein Supplements Market Segmentation
The market can be divided based on origin, raw material, product type, application, distribution channels, and region.
Market Breakup by Origin
- Organic
- Conventional
Market Breakup by Raw Material
- Soy
- Spirulina
- Pumpkin Seed
- Hemp
- Rice
- Pea
- Others
Market Breakup by Product Type
- Protein Powder
- Protein Bars
- Ready-to-Drink
Market Breakup by Application
- Sports Nutrition
- Functional Food
Market Breakup by Distribution Channels
- Hypermarkets and Supermarkets
- Speciality Stores
- Online
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global plant-based protein supplements market. Some of the major players explored in the report by Expert Market Research are as follows:
- Glanbia plc
- Hormel Foods Corporation
- The Bountiful Company
- Abbott Laboratories
- NOW Health Group, Inc.
- Others
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