Plant Based Protein Supplements Market Will See Strong Expansion Through 2025: Grand View Research Inc.

 The global plant based protein supplement market size is expected to reach USD 7.70 billion by 2025, according to a new report by Grand View Research, Inc. It is anticipated to expand at a CAGR of 7.9% during the forecast period. Rising concerns regarding the consumption of animal protein supplements, has encourages the manufacturers to develop human nutrition products derived from soy, spirulina, pumpkin seed, hemp, pea, and rice among other plants-based sources.

The plant-based protein supplements market is projected to exhibit a high growth on account of rising global demand for vegan products. Herein, the rapid growth of e-commerce is augmenting the consumption of protein supplements. Walmart is considered to be the largest retailer and requesting its suppliers to offer more plant based items. Moreover, rising concern for food safety in food and beverages sector is propelling the consumption for high-quality food service board and liquid packaging board.

Demand for plant based protein supplement is likely to witness a high growth on account of rising popularity of Ready-to-Drink (RTD) product among millennials. These pre-formulated protein drinks are easily available and can be consumed without any further mixing or preparation. This factor is anticipated to bode well for the product demand in near future.

Asia Pacific is projected to remain one of the lucrative markets for plant-based protein supplements over the next eight years. The growth of working-class population in developing countries including China and India coupled with increased state government spending for promoting infrastructure development and easy taxation scenario for MNCs to open up offices, is expected to promote the demand. In addition, predominant utilization of internet by the working-class population during office hours and off-job time is expected to boost the consumer awareness regarding plant-based supplements as meal replacements in near future.

To request a sample copy or view summary of this report, click the link below:
https://www.grandviewresearch.com/industry-analysis/plant-based-protein-supplements-market

Further key findings from the report suggest:

• Among raw materials, soy is anticipated to reach market size of USD 5.11 billion by 2025, at a CAGR of 8.0% from 2017 to 2025
• Protein powder product segment is expected to reach a market size of 5.33 billion by 2025, owing to rising health consciousness and demand from athletes and bodybuilders
• North America is projected to exhibit a CAGR of 7.6% over the forecast years, mainly on account of increasing demand for sports nutritional supplements from Canada and U.S. In addition, presence of major players and easy availability of raw materials can further fuel the growth
• Countries in Asia Pacific, especially India, Indonesia, and China, are expected to witness significant growth over the forecast years, mainly driven by changing consume lifestyles resulting in the increased need for health supplements
• The plant-based protein supplements market is characterized by accreditation of raw materials, product, distribution channel, application, and regional decisions to improve the market share of manufacturers
• Some of the prominent companies present in the market are Glanbia plc; AMCO Proteins; Quest Nutrition; NOW Foods; NBTY, Inc.; MusclePharm Corporation; Abbott Laboratories; CytoSport, Inc.; IOVATE Health Sciences International; and Transparent Labs.

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

Plant based Protein Supplement Raw Material Outlook (Revenue, USD Million, 2014 - 2025)

• Soy
• Spirulina
• Pumpkin Seed
• Hemp
• Rice
• Pea
• Others

Plant based Protein Supplement Product Outlook (Revenue, USD Million, 2014 - 2025)

• Protein Powder
• Protein Bars
• Ready-to-Drink (RTD)
• Others

Plant based Protein Supplement Distribution Channel Outlook (Revenue, USD Million, 2014 - 2025)

• Supermarket
• Online Stores
• DTC
• Others

Plant based Protein Supplement Application Outlook (Revenue, USD Million, 2014 - 2025)

• Sports Nutrition
• Additional Nutrition

Plant based Protein Supplement Regional Outlook (Revenue, USD Million, 2014 - 2025)

• North America
  • US.
• Europe
  • Germany
  • UK.
• Asia Pacific
  • China
  • India
• Central & South America
  • Brazil
• Middle East & Africa

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.