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Plant Based Protein Supplements Market Growth, Trends, Industry Statistics 2022-2030

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The global Plant Based Protein Supplements market size is expected to be worth around US$ 15.32 billion by 2030, according to a new report by Vision Research Reports.

The global Plant Based Protein Supplements market size was valued at US$ 6.38 billion in 2020 and is anticipated to grow at a CAGR of 9.6% during forecast period 2021 to 2030.

The pea protein segment is expected to witness significant growth over the forecast period owing to its fast-gaining popularity among various end-users including vegetarians, vegans, and those allergic to egg and dairy proteins.

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Report Coverage

Report Scope Details
Market Size US$ 15.32 Billion by 2030
Growth Rate CAGR of 9.6% From 2021 to 2030
Base Year 2021
Forecast Period 2021 to 2030
Segments Covered Raw Material, Product, Distribution Channel, Application
Regional Scope North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Companies Mentioned 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

Growth Factors

Growing demand for personalized nutrition, inclination towards a vegan diet, and rising interest in plant-based nutrition are key factors fueling market growth.

The soy protein raw material segment accounted for the largest revenue share in 2020. Pea protein is expected to witness considerable growth over the forecast period. The growth is attributed to increasing customer inclination towards gluten-free ingredients in the supplements, coupled with the presence of necessary amino acids in pea.

The ongoing snackification trend combined with the preference for a high protein diet is anticipated to boost demand for protein bars during the forecast period. A large number of players including Quest Nutrition and Glanbia plc are offering protein bars in a variety of flavors through various mass retail channels, which, in turn, is propelling the market growth.

By Raw Material Analysis

Soy protein dominated the market with a share of over 61.0% in 2020. The growing prominence of soy protein supplements as a vegetarian protein source, coupled with its composition of ingredients including glutamine and BCAAs, which aid in muscle recovery and fast absorption, contribute to the segment growth.

The pea protein segment is expected to witness significant growth over the forecast period owing to its fast-gaining popularity among various end-users including vegetarians, vegans, and those allergic to egg and dairy proteins.

The hemp protein supplement segment is expected to expand at the highest CAGR during the forecast period on account of the rising awareness among consumers regarding the health benefits of hemp.

By Product Analysis

Protein powder emerged as the dominant product segment with a share of over 61.0% in 2020. Mass channels of distribution, strong online sales, and the growing number of brands by key players such as Glanbia PLC; The Nature’s Bounty Co.; and Iovate Health Sciences International Inc.

Protein bars are expected to witness growth during the forecast period owing to the wide-scale adoption of protein bars by consumers on account of their convenient grab-and-go option.

A fast-paced and busy lifestyle, coupled with an increase in the number of gym and fitness centers, has propelled consumers to switch to quick and healthy beverages.

The others segment includes various products such as protein gels, capsules, cakes, cookies, and bites. These products are likely to grow at a slower rate in comparison with the other major protein supplements owing to the strong competition from protein supplements including protein powders, bars, and RTDs.

By Distribution Channel Analysis

The online stores segment accounted for a share of over 30.0% in 2020. Manufacturers are focusing on shorter paths to reach consumers as a result of ever-increasing consumer demand and a focus on core competencies.

Easy access to products, easy online purchases, and the increased number of brands to choose from are boosting online sales of plant based protein supplements.

Retail stores including hypermarkets, supermarkets, and pharmacies offer a variety of dietary supplements including plant based protein supplements. Improvement in the retail sector is one of the factors driving the sales of health and wellness products.

The supplements are available at the majority of big grocery stores such as Kroger, Lidl, Target, and Walmart. Annual memberships and discounts offered on bulk purchasing are expected to attract consumers to buy products from hypermarkets and supermarkets, thus bolstering sales in the market.

By Application Analysis

Sports nutrition emerged as the dominant application segment and accounted for over 61.0% share in 2020. Increasing demand for sports nutritional supplements from core, strength, and endurance athletes, fitness enthusiasts, and professional athletes is expected to drive the segment.

ascending demand for sports nutritional supplements to promote lean muscle growth, improve performance, assist in weight reduction, and boost stamina, coupled with an increase in the number of gym-goers, is expected to boost the growth of the sports nutrition segment over the upcoming years.

The demand for protein-rich functional foods is increasing owing to the increasing awareness among consumers regarding leading a healthy and active lifestyle, coupled with a growing understanding of the relationship between exercising and maintaining a balanced and nutrient-rich diet.

The rising occurrence of cardiovascular diseases owing to the inactive and slow lifestyle, especially in the age group between 30 and 40 years, and fluctuating dietary patterns are projected to create awareness regarding the importance of functional protein-rich food among consumers, thereby benefitting the market growth.

By Regional Analysis

North America was the largest regional market in 2020 with a share of over 50.0% owing to the high demand for sports nutritional supplements in countries such as Canada and the U.S. In addition, a strong foothold of major market players, coupled with the easy availability of raw materials, is expected to fuel the market growth.

Europe emerged as the second-largest regional market in 2020 owing to various factors such as increasing emphasis on healthy living, growing trend of preventive health care, and rising demand for plant protein supplements from countries including the U.K. and Germany on account of the increasing vegan population.

Consumption of dietary supplements has increased with consumers becoming more health-conscious in developing countries of Asia Pacific. There has been an explosion in dietary supplement consumption in countries such as India, China, and Indonesia, benefitting the growth of the market during the forecast period.

Key Players

  • 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

Market Segmentation

  • Raw Material
    • Soy
    • Spirulina
    • Pumpkin Seed
    • Hemp
    • Rice
    • Pea
    • Others
  • By Product
    • Protein Powder
    • Protein Bars
    • Ready-to-Drink
    • Others
  • By Distribution Channel
    • Supermarkets/Hypermarkets
    • Online Stores
    • Chemist/Drugstores
    • Specialty Stores
    • Others
  • By Application
    • Sports Nutrition
    • Functional Food
  • Regional
    • North America
      • U.S.
      • Canada
      • Mexico
    • Europe
      • Germany
      • U.K.
      • France
      • Italy
      • Spain
    • Asia Pacific
      • China
      • Japan
      • India
      • Australia
    • Central & South America
      • Brazil
    • Middle East & Africa
      • UAE

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Reasons to Purchase this Report:

– Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
– Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
– Market value USD Million and volume Units Million data for each segment and sub-segment
– Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
– Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Table of Contents

Chapter 1.  Introduction

1.1.  Research Objective

1.2.  Scope of the Study

1.3.  Definition

Chapter 2.  Research Methodology

2.1.  Research Approach

2.2.  Data Sources

2.3.  Assumptions & Limitations

Chapter 3.  Executive Summary

3.1.  Market Snapshot

Chapter 4.  Market Variables and Scope

4.1.  Introduction

4.2.  Market Classification and Scope

4.3.  Industry Value Chain Analysis

4.3.1.    Raw Material Procurement Analysis

4.3.2.    Sales and Distribution Channel Analysis

4.3.3.    Downstream Buyer Analysis

Chapter 5.  Market Dynamics Analysis and Trends

5.1.  Market Dynamics

5.1.1.    Market Drivers

5.1.2.    Market Restraints

5.1.3.    Market Opportunities

5.2.  Porter’s Five Forces Analysis

5.2.1.    Bargaining power of suppliers

5.2.2.    Bargaining power of buyers

5.2.3.    Threat of substitute

5.2.4.    Threat of new entrants

5.2.5.    Degree of competition

Chapter 6.  Competitive Landscape

6.1.1.    Company Market Share/Positioning Analysis

6.1.2.    Key Strategies Adopted by Players

6.1.3.    Vendor Landscape

6.1.3.1.        List of Suppliers

6.1.3.2.        List of Buyers

Chapter 7.  Global Plant Based Protein Supplements Market, By Raw Material

7.1.  Plant Based Protein Supplements Market, by Raw Material, 2021-2030

7.1.1.    Soy

7.1.1.1.        Market Revenue and Forecast (2017-2030)

7.1.2.    Spirulina

7.1.2.1.        Market Revenue and Forecast (2017-2030)

7.1.3.    Pumpkin Seed

7.1.3.1.        Market Revenue and Forecast (2017-2030)

7.1.4.    Hemp

7.1.4.1.        Market Revenue and Forecast (2017-2030)

7.1.5.    Rice

7.1.5.1.        Market Revenue and Forecast (2017-2030)

7.1.6.    Pea

7.1.6.1.        Market Revenue and Forecast (2017-2030)

Chapter 8.  Global Plant Based Protein Supplements Market, By Product

8.1.  Plant Based Protein Supplements Market, by Product, 2021-2030

8.1.1.    Protein Powder

8.1.1.1.        Market Revenue and Forecast (2017-2030)

8.1.2.    Protein Bars

8.1.2.1.        Market Revenue and Forecast (2017-2030)

8.1.3.    Ready-to-Drink

8.1.3.1.        Market Revenue and Forecast (2017-2030)

8.1.4.    Others

8.1.4.1.        Market Revenue and Forecast (2017-2030)

Chapter 9.  Global Plant Based Protein Supplements Market, By Distribution Channel

9.1.  Plant Based Protein Supplements Market, by Distribution Channel, 2021-2030

9.1.1.    Supermarkets/Hypermarkets

9.1.1.1.        Market Revenue and Forecast (2017-2030)

9.1.2.    Online Stores

9.1.2.1.        Market Revenue and Forecast (2017-2030)

9.1.3.    Chemist/Drugstores

9.1.3.1.        Market Revenue and Forecast (2017-2030)

9.1.4.    Specialty Stores

9.1.4.1.        Market Revenue and Forecast (2017-2030)

Chapter 10.      Global Plant Based Protein Supplements Market, By Application

10.1.        Plant Based Protein Supplements Market, by Application, 2021-2030

10.1.1.  Sports Nutrition

10.1.1.1.      Market Revenue and Forecast (2017-2030)

10.1.2.  Functional Food

10.1.2.1.      Market Revenue and Forecast (2017-2030)

Chapter 11.      Global Plant Based Protein Supplements Market, Regional Estimates and Trend Forecast

11.1.        North America

11.1.1.  Market Revenue and Forecast, by Raw Material (2017-2030)

11.1.2.  Market Revenue and Forecast, by Product (2017-2030)

11.1.3.  Market Revenue and Forecast, by Distribution Channel (2017-2030)

11.1.4.  Market Revenue and Forecast, by Application (2017-2030)

11.1.5.  U.S.

11.1.5.1.      Market Revenue and Forecast, by Raw Material (2017-2030)

11.1.5.2.      Market Revenue and Forecast, by Product (2017-2030)

11.1.5.3.      Market Revenue and Forecast, by Distribution Channel (2017-2030)

11.1.5.4.      Market Revenue and Forecast, by Application (2017-2030)

11.1.6.  Rest of North America

11.1.6.1.      Market Revenue and Forecast, by Raw Material (2017-2030)

11.1.6.2.      Market Revenue and Forecast, by Product (2017-2030)

11.1.6.3.      Market Revenue and Forecast, by Distribution Channel (2017-2030)

11.1.6.4.      Market Revenue and Forecast, by Application (2017-2030)

11.2.        Europe

11.2.1.  Market Revenue and Forecast, by Raw Material (2017-2030)

11.2.2.  Market Revenue and Forecast, by Product (2017-2030)

11.2.3.  Market Revenue and Forecast, by Distribution Channel (2017-2030)

11.2.4.  Market Revenue and Forecast, by Application (2017-2030)

11.2.5.  UK

11.2.5.1.      Market Revenue and Forecast, by Raw Material (2017-2030)

11.2.5.2.      Market Revenue and Forecast, by Product (2017-2030)

11.2.5.3.      Market Revenue and Forecast, by Distribution Channel (2017-2030)

11.2.5.4.      Market Revenue and Forecast, by Application (2017-2030)

11.2.6.  Germany

11.2.6.1.      Market Revenue and Forecast, by Raw Material (2017-2030)

11.2.6.2.      Market Revenue and Forecast, by Product (2017-2030)

11.2.6.3.      Market Revenue and Forecast, by Distribution Channel (2017-2030)

11.2.6.4.      Market Revenue and Forecast, by Application (2017-2030)

11.2.7.  France

11.2.7.1.      Market Revenue and Forecast, by Raw Material (2017-2030)

11.2.7.2.      Market Revenue and Forecast, by Product (2017-2030)

11.2.7.3.      Market Revenue and Forecast, by Distribution Channel (2017-2030)

11.2.7.4.      Market Revenue and Forecast, by Application (2017-2030)

11.2.8.  Rest of Europe

11.2.8.1.      Market Revenue and Forecast, by Raw Material (2017-2030)

11.2.8.2.      Market Revenue and Forecast, by Product (2017-2030)

11.2.8.3.      Market Revenue and Forecast, by Distribution Channel (2017-2030)

11.2.8.4.      Market Revenue and Forecast, by Application (2017-2030)

11.3.        APAC

11.3.1.  Market Revenue and Forecast, by Raw Material (2017-2030)

11.3.2.  Market Revenue and Forecast, by Product (2017-2030)

11.3.3.  Market Revenue and Forecast, by Distribution Channel (2017-2030)

11.3.4.  Market Revenue and Forecast, by Application (2017-2030)

11.3.5.  India

11.3.5.1.      Market Revenue and Forecast, by Raw Material (2017-2030)

11.3.5.2.      Market Revenue and Forecast, by Product (2017-2030)

11.3.5.3.      Market Revenue and Forecast, by Distribution Channel (2017-2030)

11.3.5.4.      Market Revenue and Forecast, by Application (2017-2030)

11.3.6.  China

11.3.6.1.      Market Revenue and Forecast, by Raw Material (2017-2030)

11.3.6.2.      Market Revenue and Forecast, by Product (2017-2030)

11.3.6.3.      Market Revenue and Forecast, by Distribution Channel (2017-2030)

11.3.6.4.      Market Revenue and Forecast, by Application (2017-2030)

11.3.7.  Japan

11.3.7.1.      Market Revenue and Forecast, by Raw Material (2017-2030)

11.3.7.2.      Market Revenue and Forecast, by Product (2017-2030)

11.3.7.3.      Market Revenue and Forecast, by Distribution Channel (2017-2030)

11.3.7.4.      Market Revenue and Forecast, by Application (2017-2030)

11.3.8.  Rest of APAC

11.3.8.1.      Market Revenue and Forecast, by Raw Material (2017-2030)

11.3.8.2.      Market Revenue and Forecast, by Product (2017-2030)

11.3.8.3.      Market Revenue and Forecast, by Distribution Channel (2017-2030)

11.3.8.4.      Market Revenue and Forecast, by Application (2017-2030)

11.4.        MEA

11.4.1.  Market Revenue and Forecast, by Raw Material (2017-2030)

11.4.2.  Market Revenue and Forecast, by Product (2017-2030)

11.4.3.  Market Revenue and Forecast, by Distribution Channel (2017-2030)

11.4.4.  Market Revenue and Forecast, by Application (2017-2030)

11.4.5.  GCC

11.4.5.1.      Market Revenue and Forecast, by Raw Material (2017-2030)

11.4.5.2.      Market Revenue and Forecast, by Product (2017-2030)

11.4.5.3.      Market Revenue and Forecast, by Distribution Channel (2017-2030)

11.4.5.4.      Market Revenue and Forecast, by Application (2017-2030)

11.4.6.  North Africa

11.4.6.1.      Market Revenue and Forecast, by Raw Material (2017-2030)

11.4.6.2.      Market Revenue and Forecast, by Product (2017-2030)

11.4.6.3.      Market Revenue and Forecast, by Distribution Channel (2017-2030)

11.4.6.4.      Market Revenue and Forecast, by Application (2017-2030)

11.4.7.  South Africa

11.4.7.1.      Market Revenue and Forecast, by Raw Material (2017-2030)

11.4.7.2.      Market Revenue and Forecast, by Product (2017-2030)

11.4.7.3.      Market Revenue and Forecast, by Distribution Channel (2017-2030)

11.4.7.4.      Market Revenue and Forecast, by Application (2017-2030)

11.4.8.  Rest of MEA

11.4.8.1.      Market Revenue and Forecast, by Raw Material (2017-2030)

11.4.8.2.      Market Revenue and Forecast, by Product (2017-2030)

11.4.8.3.      Market Revenue and Forecast, by Distribution Channel (2017-2030)

11.4.8.4.      Market Revenue and Forecast, by Application (2017-2030)

11.5.        Latin America

11.5.1.  Market Revenue and Forecast, by Raw Material (2017-2030)

11.5.2.  Market Revenue and Forecast, by Product (2017-2030)

11.5.3.  Market Revenue and Forecast, by Distribution Channel (2017-2030)

11.5.4.  Market Revenue and Forecast, by Application (2017-2030)

11.5.5.  Brazil

11.5.5.1.      Market Revenue and Forecast, by Raw Material (2017-2030)

11.5.5.2.      Market Revenue and Forecast, by Product (2017-2030)

11.5.5.3.      Market Revenue and Forecast, by Distribution Channel (2017-2030)

11.5.5.4.      Market Revenue and Forecast, by Application (2017-2030)

11.5.6.  Rest of LATAM

11.5.6.1.      Market Revenue and Forecast, by Raw Material (2017-2030)

11.5.6.2.      Market Revenue and Forecast, by Product (2017-2030)

11.5.6.3.      Market Revenue and Forecast, by Distribution Channel (2017-2030)

11.5.6.4.      Market Revenue and Forecast, by Application (2017-2030)

Chapter 12.  Company Profiles

12.1.              Glanbia plc

12.1.1.  Company Overview

12.1.2.  Raw Material Offerings

12.1.3.  Financial Performance

12.1.4.  Recent Initiatives

12.2.              AMCO Proteins

12.2.1.  Company Overview

12.2.2.  Raw Material Offerings

12.2.3.  Financial Performance

12.2.4.  Recent Initiatives

12.3.              Quest Nutrition

12.3.1.  Company Overview

12.3.2.  Raw Material Offerings

12.3.3.  Financial Performance

12.3.4.  Recent Initiatives

12.4.              NOW Foods

12.4.1.  Company Overview

12.4.2.  Raw Material Offerings

12.4.3.  Financial Performance

12.4.4.  Recent Initiatives

12.5.              The Bountiful Company

12.5.1.  Company Overview

12.5.2.  Raw Material Offerings

12.5.3.  Financial Performance

12.5.4.  Recent Initiatives

12.6.              MusclePharm Corporation

12.6.1.  Company Overview

12.6.2.  Raw Material Offerings

12.6.3.  Financial Performance

12.6.4.  Recent Initiatives

12.7.              Abbott Laboratories

12.7.1.  Company Overview

12.7.2.  Raw Material Offerings

12.7.3.  Financial Performance

12.7.4.  Recent Initiatives

12.8.              IOVATE Health Sciences International, Inc.

12.8.1.  Company Overview

12.8.2.  Raw Material Offerings

12.8.3.  Financial Performance

12.8.4.  Recent Initiatives

12.9.              Transparent Labs

12.9.1.  Company Overview

12.9.2.  Raw Material Offerings

12.9.3.  Financial Performance

12.9.4.  Recent Initiatives

12.10.           WOODBOLT DISTRIBUTION LLC

12.10.1.               Company Overview

12.10.2.               Raw Material Offerings

12.10.3.               Financial Performance

12.10.4.               Recent Initiatives

Chapter 13.  Research Methodology

13.1.              Primary Research

13.2.              Secondary Research

13.3.              Assumptions

Chapter 14.  Appendix

14.1.              About Us

Glossary of Terms

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