Published Date: 14-Jul-2021
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According to a new report Global Plant-based Protein Supplements Market, published by KBV research, The Global Plant-based Protein Supplements Market size is expected to reach $9.2 billion by 2027, rising at a market growth of 8.4% CAGR during the forecast period.
Pea protein is considered as a wholesome protein, which has all the essential amino acids, such as BCAAs which are efficient in muscle building and fast absorption. This segment would procure a major share of the global market throughout the forecast period. This is credited to the increasing popularity among the vegetarian and vegan population. Moreover, this kind of product would become a preferred choice for individuals allergic to egg or dairy proteins.
The protein powder segment garnered the highest revenue share of the plant-based protein supplement in 2020. This is due to the wide-scale consumption among gym professionals. Along with this, the rising market visibility of powder products among elite builders, bodybuilders, and casual exercisers due to its high integration into milk and water would accelerate the high penetration of the market in the next few years. The market of plant-based protein market would witness new growth avenues due to the high innovation for manufacturing items comprising of various types of amino acids and concentrate on functions, like energy balance, muscle repair, satiety, and weight loss.
In 2020, Asia-Pacific would obtain a substantial revenue share in the overall plant-based protein supplement market. Growing expenditure for the development of natural ingredients such as soy in order to create nutraceuticals in China and Japan would create various growth avenues for the market. Additionally, supportive aspects like growing disposable income and urbanization would become crucial in accelerating the consumption of the products, specifically among the vegan population.
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Glanbia PLC, AMCO Proteins, Quest Nutrition LLC (Atkins Nutritionals Holdings, Inc.), NOW Foods, Inc., Danone S.A., MusclePharm Corporation, Abbott Laboratories, PepsiCo, Inc., Alticor Inc. (Amway Corporation), and Kerry Group PLC.
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