DUBLIN–(BUSINESS WIRE)–The “Plant-Based Protein Supplements Market by Type (Soy Protein, Rice Protein), Form (Powder, RTD), Application (Sports Nutrition, Additional Nutrition), and Distribution Channel (Hypermarket/Supermarket, E-Commerce, Pharmacies) – Global Forecast To 2027” report has been added to ResearchAndMarkets.com’s providing.
The plant-based protein dietary supplements market is anticipated to develop at a CAGR of seven.8% from 2020 to 2027 to achieve $9.57 billion by 2027.
This market’s development is principally supported by the rising curiosity in plant-based diet, rising significance of sports activities & well being diet, rising inclination in direction of a vegan food plan, and rising demand for customized diet.
Moreover, rising demand from rising economies in Asia-Pacific, Latin America, and the Middle East and Africa and new product launches of plant-based protein dietary supplements are anticipated to create profitable alternatives for gamers working on this market. However, the desire for whey-based protein dietary supplements and rising desire for free-label (soy and gluten-free) merchandise are anticipated to hinder this market’s development.
Based on kind, the soy protein phase accounted for the biggest share of the general plant-based protein dietary supplements market in 2020. This phase’s main place is principally attributed to the straightforward availability of uncooked materials for soy protein, cost-effectiveness in comparison with different sources of protein dietary supplements, superior dietary worth than different sources, and better shopper acceptance stage. However, the pea protein phase is anticipated to develop on the quickest CAGR throughout the forecast interval.
Based on type, the powder protein phase accounted for the biggest share of the general plant-based protein dietary supplements market in 2020. The main share of this phase is principally attributed to their increased demand with ease in dealing with & transport, value effectiveness, capacity to keep away from expensive formulation errors, and competence to keep up the ingredient’s stability. However, the ready-to-drink phase is anticipated to develop on the quickest CAGR throughout the forecast interval as a result of rising recognition of handy and able to drink drinks.
Based on the applying, the sports activities diet phase accounted for the biggest share of the general plant-based protein dietary supplements market in 2020. This phase’s massive share is principally attributed to elevated new product improvement, rising variety of kids selecting a profession in sports activities, and rise in nationwide and worldwide sports activities occasions. This phase can be anticipated to develop on the quickest CAGR throughout the forecast interval on account of rising consciousness concerning the advantages of a balanced and nutrient-rich food plan in miniating the athletes’ muscle tone and stamina.
Based on the distribution channel, the fashionable grocery phase held the biggest share of the general plant-based protein dietary supplements market in 2020. The massive share of this market is principally attributed to the massive base of supermarkets & hypermarkets and rising shopper desire for purchasing from such shops. However, the net retail phase is anticipated to develop on the quickest CAGR throughout the forecast interval.
Geographically, North America accounted for the biggest share of the general plant-based protein dietary supplements market in 2020. North America’s distinguished place within the plant-based protein dietary supplements market is primarily attributed to excessive demand for dietary dietary supplements, deal with wholesome way of life, well-established nutraceutical and useful meals business, and rising well being & wellness and clear label tendencies.
However, Asia-Pacific is creating and increasing at a big tempo. Among different regional markets, Asia Pacific is demonstrating indicators of sturdy development within the close to future.
- Rising Interest within the Plant-Based Nutrition
- Positive Outlook Towards the Sports and Health Nutrition Industries
- Increasing Inclination Towards the Vegan Diet
- Increasing Demand for Personalized Nutrition
- Preference for Whey-Based Protein Supplements
- Growing Preference for Soy- and Gluten-Free Products
- Emerging Economies in Asia-Pacific, Latin America, and the Middle East & Africa
- Increased New Product Launches of Plant-Based Protein Supplements
- Growing Preference for Online Purchases
The key gamers working within the plant-based protein dietary supplements market are
- Glanbia plc. (Ireland)
- Now Health Group Inc. (U.S.)
- Nutiva Inc (U.S.)
- The Simply Good Food Co (U.S.)
- Iovate Health Sciences International Inc. (Canada)
- MusclePharm Corporation (U.S.)
- Kerry Group Plc (Ireland)
- CytoSport Inc. (U.S.)
- The Nature’s Bounty Co. (U.S.)
- Reliance Vitamin Company Inc. (U.S.)
- Herbalife Nutrition Inc. (U.S.)
- Danone SA (France)
- General Nutrition Centers (GNC) Holdings Inc. (U.S.)
- Orgain Inc. (U.S.)
- True Nutrition (U.S.).
For extra details about this report go to https://www.researchandmarkets.com/r/taupiw
Laura Wood, Senior Press Manager
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900