Plant Based Protein Supplements Market - Forecast(2021 - 2026)

Report Code: FBR 70194 Report Format: PDF + Excel (Delivery in 48 Hrs)

Plant Based Protein Supplements Market Overview

Plant Based Protein Supplements Market size is estimated to reach $5.86 Bn by 2026 and is poised to grow at a CAGR of 7.56% during the forecast period 2021-2026. The protein supplements that are processed and derived from various types of plant-based food sources are known as plant based protein supplements. Soy, peas, chickpeas, brown rice and other major plant sources are used as the main ingredients for plant protein supplements. Plant-based protein supplements are the essential macronutrients that helps maintain muscle and bone mass and supports the immune system. Raising awareness of the benefits of healthy food products and the growth in the vegetarian population are among the major factors driving the demand for plant protein supplement products. Additionally, increased health awareness, higher disposable income, and awareness towards chemical-free products are the factors that boost the market growth during the forecast period 2021-2026.

Plant Based Protein Supplements Market Report Coverage

The report: “Plant Based Protein Supplements Market Forecast (2021-2026)”, by Industry ARC, covers an in-depth analysis of the following segments of the Plant Based Protein Supplements Market.
By Raw Material: Hemp, Pea, Pumpkin Seed, Rice, Soy, Spirulina, and others.
By Product Type: Protein Powder, Protein Bars, Ready-to-Drink (RTD), and others.
By Application: Sports Nutrition, Additional Nutrition.
By Distribution Channel: Online Channel, Supermarkets & Hypermarkets, Specialty Stores, and others.
By Geography: North America, Asia-Pacific, Europe, and Rest of World.

Key Takeaways

  • Geographically, North America is poised to see extraordinary development owing to the growing awareness about vegan diet coupled with shifting trend towards vegetarianism in the region and is set to continue during the forecast period 2021-2026.
  • Based on Product Type, protein powder is gaining demand owing to the increasing market visibility of powder products among elite athletes, bodybuilders, and casual exercisers as a result of its ease of incorporation into milk and water. 
  • The sensitivity towards Plant Based Protein products leads to allergies, which is estimated to restrain the market growth during the forecast period 2021-2026.
  • Detailed analysis on the Strength, Weakness and Opportunities of the prominent players operating in the market will be provided in the Plant Based Protein Supplements Market report.

Plant Based Protein Supplements Market Segment Analysis - By Product Type

The global Plant Based Protein Supplements Market based on product type can be further segmented into Protein Powder, Protein Bars, Ready-to-Drink (RTD), and others. The protein powder segment registered for the highest revenue in 2020. This is owing to the increasing market visibility of protein powder products among elite athletes, bodybuilders, and casual exercisers as a result of its ease of incorporation into milk and water. The protein bars segment is estimated to be the fastest-growing segment with a CAGR of 8.49% during the forecast period 2021-2026. The ever-increasing pace of life along with consumer preference for healthier snacking options and the trend of on-the-go snacking is increasing the demand for bite-sized snacks and healthy options such as bars. 

Plant Based Protein Supplements Market Segment Analysis - By Application

The global Plant Based Protein Supplements Market based on Application can be further segmented into Sports Nutrition, Additional Nutrition. The Sports Nutrition segment registers for the highest market share in 2020. The increase in sport nutritional supplements for core, strength, and endurance athletes, fitness enthusiasts, and professional athletes are estimated to drive the segment growth. Moreover, rising demand for sports nutrition supplements to promote lean muscle growth, improve performance and stamina, promote weight management are driving the growth of the segment. The Additional Nutrition segment is estimated to be the fastest-growing segment owing to the growing awareness regarding the benefits of balanced and nutrient-rich diet.

Plant Based Protein Supplements Market Segment Analysis - By Geography

The global Plant Based Protein Supplements Market based on Geography can be further segmented into North America, Asia-Pacific, Europe, and the Rest of the World. North America held the largest share with 32.14% of market in 2020. Increasing awareness about vegan diet coupled with shifting trend of consumers towards vegetarianism as a result of new brand campaigns on social media is projected to upsurge the plant-based protein supplements in the region. Asia-Pacific is estimated to be the fastest-growing segment owing to the increase in spending for the development of natural ingredients including soy for the production of nutraceuticals in China and Japan is estimated to open new investment avenues. Moreover, favorable factors, such as rising disposable income and urbanization are anticipated to play a key role in promoting consumption of the plant-based protein supplements, particularly among the vegan population.

Plant Based Protein Supplements Market Drivers

Rising preference for plant-based diets

Rising awareness about animal welfare as well as environmental sustainability has been pushing consumers towards the adoption of plant-based diets. The growing perception of consumers that plant-based products are healthier as compared to animal-oriented products drives the market growth. Increasing prevalence of lactose intolerances has further contributed to the growth of plant protein supplements. In addition, rising interest in natural, organic products is estimated to boost the market during the forecast period 2021-2026. 

Growing awareness about benefits associated with plant-based protein supplements

Rising cases of obesity worldwide, growing awareness among the people regarding health and fitness, increasing importance of plant-based nutrition, growth of sports nutrition industry are the major factors that are enhancing the growth of the plant-based protein supplements market. The growing demand for protein supplements to improve health and wellness is fueling the growth of the market during the forecast period 2021-2026.

Plant Based Protein Supplements Market Challenges

Sensitivity associated with plant protein sources 

Plant-based protein supplements have functional health benefits and consist of essential minerals, however, in several cases, the consumption of select sources, such as soy and wheat, has been identified as allergens in consumers. Moreover, the high manufacturing cost of plant-based protein supplements as a major challenge for market players. These factors are estimated to restrict the market growth during the forecast period 2021-2026.

Plant Based Protein Supplements Market Industry outlook:

Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Plant Based Protein Supplements Market. Key companies of this market Kerry Group Plc, Glanbia plc, Nutiva Inc, Now Health Group Inc., The Simply Good Food Co, MusclePharm Corporation, Iovate Health Sciences International Inc., CytoSport, Inc., Burcon NutraScience Corporation, Herbalife Nutrition Inc., Danone SA, Orgain Inc., and True Nutrition.

Acquisitions/Product Launches:

  • In May 2020, Danone S.A. has expanded its plant protein business by introducing its sports nutrition brand Vega, which includes plant protein series. 
  • In January 2020, Nestle has announced an agreement with Burcans Nutrascience and Merit Functional Foods. This agreement helped Nestle to accelerate the development of Nestle’s portfolio of plant protein supplement. 
  • In May 2019, Burcon NutraScience Corporation announced a joint venture partnership with Merit Functional foods to build a new C$65 million pea-protein and canola-protein commercial production facility in Western Canada. The production plant delivers Burcon's Nutratein, Puratein, and Peazazz pea proteins.


1. Plant Based Protein Supplements Market - Overview
        1.1 Definitions and Scope
2. Plant Based Protein Supplements Market - Executive summary
        2.1 Market Revenue, Market Size and Key Trends by Company
        2.2 Key Trends by type of Application
        2.3 Key Trends segmented by Geography
3. Plant Based Protein Supplements Market
        3.1 Comparative analysis
            3.1.1 Product Benchmarking - Top 10 companies
            3.1.2 Top 5 Financials Analysis
            3.1.3 Market Value split by Top 10 companies
            3.1.4 Patent Analysis - Top 10 companies
            3.1.5 Pricing Analysis
4. Plant Based Protein Supplements Market - Startup companies Scenario Premium
        4.1 Top 10 startup company Analysis by
            4.1.1 Investment
            4.1.2 Revenue
            4.1.3 Market Shares
            4.1.4 Market Size and Application Analysis
            4.1.5 Venture Capital and Funding Scenario
5. Plant Based Protein Supplements Market - Industry Market Entry Scenario Premium
        5.1 Regulatory Framework Overview
        5.2 New Business and Ease of Doing business index
        5.3 Case studies of successful ventures
        5.4 Customer Analysis - Top 10 companies
6. Plant Based Protein Supplements Market Forces
        6.1 Drivers
        6.2 Constraints
        6.3 Challenges
        6.4 Porters five force model
            6.4.1 Bargaining power of suppliers
            6.4.2 Bargaining powers of customers
            6.4.3 Threat of new entrants
            6.4.4 Rivalry among existing players
            6.4.5 Threat of substitutes
7. Plant Based Protein Supplements Market -Strategic analysis
        7.1 Value chain analysis
        7.2 Opportunities analysis
        7.3 Product life cycle
        7.4 Suppliers and distributors Market Share
8. Plant Based Protein Supplements Market - By Product Type(Market Size -$Million / $Billion)
        8.1 Market Size and Market Share Analysis
        8.2 Application Revenue and Trend Research
        8.3 Product Segment Analysis
9. Plant Based Protein Supplements Market - By Type(Market Size -$Million / $Billion)
10. Plant Based Protein Supplements - By Application Type(Market Size -$Million / $Billion)
        10.1 Segment type Size and Market Share Analysis
        10.2 Application Revenue and Trends by type of Application
        10.3 Application Segment Analysis by Type
11. Plant Based Protein Supplements- By Geography (Market Size -$Million / $Billion)
        11.1 Plant Based Protein Supplements Market - North America Segment Research
        11.2 North America Market Research (Million / $Billion)
            11.2.1 Segment type Size and Market Size Analysis
            11.2.2 Revenue and Trends
            11.2.3 Application Revenue and Trends by type of Application
            11.2.4 Company Revenue and Product Analysis
            11.2.5 North America Product type and Application Market Size
                  11.2.5.1 U.S
                  11.2.5.2 Canada
                  11.2.5.3 Mexico
                  11.2.5.4 Rest of North America
        11.3 Plant Based Protein Supplements- South America Segment Research
        11.4 South America Market Research (Market Size -$Million / $Billion)
            11.4.1 Segment type Size and Market Size Analysis
            11.4.2 Revenue and Trends
            11.4.3 Application Revenue and Trends by type of Application
            11.4.4 Company Revenue and Product Analysis
            11.4.5 South America Product type and Application Market Size
                  11.4.5.1 Brazil
                  11.4.5.2 Venezuela
                  11.4.5.3 Argentina
                  11.4.5.4 Ecuador
                  11.4.5.5 Peru
                  11.4.5.6 Colombia
                  11.4.5.7 Costa Rica
                  11.4.5.8 Rest of South America
        11.5 Plant Based Protein Supplements- Europe Segment Research
        11.6 Europe Market Research (Market Size -$Million / $Billion)
            11.6.1 Segment type Size and Market Size Analysis
            11.6.2 Revenue and Trends
            11.6.3 Application Revenue and Trends by type of Application
            11.6.4 Company Revenue and Product Analysis
            11.6.5 Europe Segment Product type and Application Market Size
                  11.6.5.1 U.K
                  11.6.5.2 Germany
                  11.6.5.3 Italy
                  11.6.5.4 France
                  11.6.5.5 Netherlands
                  11.6.5.6 Belgium
                  11.6.5.7 Denmark
                  11.6.5.8 Spain
                  11.6.5.9 Rest of Europe
        11.7 Plant Based Protein Supplements - APAC Segment Research
        11.8 APAC Market Research (Market Size -$Million / $Billion)
            11.8.1 Segment type Size and Market Size Analysis
            11.8.2 Revenue and Trends
            11.8.3 Application Revenue and Trends by type of Application
            11.8.4 Company Revenue and Product Analysis
            11.8.5 APAC Segment - Product type and Application Market Size
                  11.8.5.1 China
                  11.8.5.2 Australia
                  11.8.5.3 Japan
                  11.8.5.4 South Korea
                  11.8.5.5 India
                  11.8.5.6 Taiwan
                  11.8.5.7 Malaysia
                  11.8.5.8 Hong kong
                  11.8.5.9 Rest of APAC
        11.9 Plant Based Protein Supplements - Middle East Segment and Africa Segment Research
        11.10 Middle East & Africa Market Research (Market Size -$Million / $Billion)
            11.10.1 Segment type Size and Market Size Analysis
            11.10.2 Revenue and Trend Analysis
            11.10.3 Application Revenue and Trends by type of Application
            11.10.4 Company Revenue and Product Analysis
            11.10.5 Middle East Segment Product type and Application Market Size
                  11.10.5.1 Israel
                  11.10.5.2 Saudi Arabia
                  11.10.5.3 UAE
            11.10.6 Africa Segment Analysis
                  11.10.6.1 South Africa
                  11.10.6.2 Rest of Middle East & Africa
12. Plant Based Protein Supplements Market - Entropy
        12.1 New product launches
        12.2 M&A s, collaborations, JVs and partnerships
13. Plant Based Protein Supplements Market - Industry / Segment Competition landscape Premium
        13.1 Market Share Analysis
            13.1.1 Market Share by Country- Top companies
            13.1.2 Market Share by Region- Top 10 companies
            13.1.3 Market Share by type of Application - Top 10 companies
            13.1.4 Market Share by type of Product / Product category- Top 10 companies
            13.1.5 Market Share at global level - Top 10 companies
            13.1.6 Best Practises for companies
14. Plant Based Protein Supplements Market - Key Company List by Country Premium
15. Plant Based Protein Supplements Market Company Analysis
        15.1 Market Share, Company Revenue, Products, M&A, Developments
        15.2 AMCO Proteins
        15.3 Abbott Laboratories
        15.4 CytoSport, Inc.
        15.5 Glanbia plc
        15.6 IOVATE Health Sciences International, Inc.
        15.7 MusclePharm Corporation
        15.8 NBTY, Inc.
        15.9 NOW Foods
        15.10 Quest Nutrition
        15.11 Transparent Labs
        15.12 Company 12
        15.13 Company 13 & More
*Financials would be provided on a best efforts basis for private companies
16. Plant Based Protein Supplements Market - Appendix
        16.1 Abbreviations
        16.2 Sources
17. Plant Based Protein Supplements Market - Methodology
        17.1 Research Methodology
            17.1.1 Company Expert Interviews
            17.1.2 Industry Databases
            17.1.3 Associations
            17.1.4 Company News
            17.1.5 Company Annual Reports
            17.1.6 Application Trends
            17.1.7 New Products and Product database
            17.1.8 Company Transcripts
            17.1.9 R&D Trends
            17.1.10 Key Opinion Leaders Interviews
            17.1.11 Supply and Demand Trends

LIST OF TABLES

LIST OF FIGURES

1.US Plant Based Protein Supplements Market Revenue, 2019-2024 ($M)
2.Canada Plant Based Protein Supplements Market Revenue, 2019-2024 ($M)
3.Mexico Plant Based Protein Supplements Market Revenue, 2019-2024 ($M)
4.Brazil Plant Based Protein Supplements Market Revenue, 2019-2024 ($M)
5.Argentina Plant Based Protein Supplements Market Revenue, 2019-2024 ($M)
6.Peru Plant Based Protein Supplements Market Revenue, 2019-2024 ($M)
7.Colombia Plant Based Protein Supplements Market Revenue, 2019-2024 ($M)
8.Chile Plant Based Protein Supplements Market Revenue, 2019-2024 ($M)
9.Rest of South America Plant Based Protein Supplements Market Revenue, 2019-2024 ($M)
10.UK Plant Based Protein Supplements Market Revenue, 2019-2024 ($M)
11.Germany Plant Based Protein Supplements Market Revenue, 2019-2024 ($M)
12.France Plant Based Protein Supplements Market Revenue, 2019-2024 ($M)
13.Italy Plant Based Protein Supplements Market Revenue, 2019-2024 ($M)
14.Spain Plant Based Protein Supplements Market Revenue, 2019-2024 ($M)
15.Rest of Europe Plant Based Protein Supplements Market Revenue, 2019-2024 ($M)
16.China Plant Based Protein Supplements Market Revenue, 2019-2024 ($M)
17.India Plant Based Protein Supplements Market Revenue, 2019-2024 ($M)
18.Japan Plant Based Protein Supplements Market Revenue, 2019-2024 ($M)
19.South Korea Plant Based Protein Supplements Market Revenue, 2019-2024 ($M)
20.South Africa Plant Based Protein Supplements Market Revenue, 2019-2024 ($M)
21.North America Plant Based Protein Supplements By Application
22.South America Plant Based Protein Supplements By Application
23.Europe Plant Based Protein Supplements By Application
24.APAC Plant Based Protein Supplements By Application
25.MENA Plant Based Protein Supplements By Application
26.Glanbia plc, Sales /Revenue, 2015-2018 ($Mn/$Bn)
27.AMCO Proteins, Sales /Revenue, 2015-2018 ($Mn/$Bn)
28.Quest Nutrition, Sales /Revenue, 2015-2018 ($Mn/$Bn)
29.NOW Foods, Sales /Revenue, 2015-2018 ($Mn/$Bn)
30.NBTY, Inc., Sales /Revenue, 2015-2018 ($Mn/$Bn)
31.MusclePharm Corporation, Sales /Revenue, 2015-2018 ($Mn/$Bn)
32.Abbott Laboratories, Sales /Revenue, 2015-2018 ($Mn/$Bn)
33.CytoSport, Inc., Sales /Revenue, 2015-2018 ($Mn/$Bn)
34.IOVATE Health Sciences International, Inc., Sales /Revenue, 2015-2018 ($Mn/$Bn)
35.Transparent Labs, Sales /Revenue, 2015-2018 ($Mn/$Bn)