Plant Based Protein Supplement Market by Nature (Organic and Conventional), by product type (Soy, Spirulina, Pumpkin Seed, Pea and others), by form (Protein Powder, Protein Bar and Ready-to-drink), by application (Sports Nutrition and Supplement Nutrition) and Distribution Channel (Hypermarket/Supermarket, Specialty Store and online Store): Global Opportunity Analysis and Industry Forecast, 2019–2026.
The Plant Based Protein Supplement market size was valued at $4.2 billion in 2018 and is expected to reach $7.0 billion by 2026, registering a CAGR of 6.7% from 2019 to 2026.
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The global Plant Based Protein Supplement market is segmented based on price, end user and distribution channel. Based on price, the global Plant Based Protein Supplement market is further segmented into $50 – $100, $100 – $200 and Above $200.
According to the Vegan Society, in 2019, there were 600,000 vegans around the globe. The rise in awareness about the health benefits associated with the consumption of vegan food products has led majority of population adopting into vegan diet. This has led to burgeon demand for different types of vegan food products from its health-conscious target customers. This similar kind of trend has been enduring even from the sports segments. Professional sports personnel and athletes are now adopting into vegan diet owing to increase in awareness about the associated benefits. This consumer perception all together has triggered demand for plant-based protein supplement products.According to the U.S. Census Bureau, millennials are on the verge of surpassing baby boomers in the country. Similarly, in Asia-Pacific, millennials account for a larger population, especially in countries such as China, India, and Australia as compared to other population groups.
Millennials, population aged between 20 and 35 years, are active, and broad minded. They have been influential in evolving various global industries in terms of product offerings and services. They always to tend to try products that are new in the market and determine whether the products cater to the requirements. Moreover, majority of the millennial population are health conscious and tend to buy product that benefits their health. This factor is projected to fuel the growth of the market.
Key players profiled in the report include Archon Vitamin LLC., Sequel Natural Ltd., Glanbia plc, MusclePharm Corporation, True Nutrition, General Nutrition Centers, Inc., Nutiva Inc., NOW Health Group, Inc., Vital Amine, Inc., Hormel Foods Corporation, , and others.
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KEY BENEFITS FOR STAKEHOLDERS
• The report provides an extensive analysis of the current and emerging market trends and opportunities in the global Plant Based Protein Supplement market.
• The report provides detailed qualitative and quantitative analysis of current trends and future estimations that help evaluate the prevailing market opportunities.
• A comprehensive analysis of the factors that drive and restrict the growth of the market is provided.
• An extensive analysis of the market is conducted by following key product positioning and monitoring the top competitors within the market framework.
• The report provides extensive qualitative insights on the potential segments or regions exhibiting favorable growth.
KEY MARKET SEGMENTS
By Product Type
• Pumpkin Seeds
• Protein Powder
• Protein Bar
• Sports Nutrition
• Supplement Nutrition
By Distribution Channel
• Specialty Store
• Online Store
• North America
o Rest of Europe
o Australia and New Zealand
o Rest of Asia-Pacific
o Latin America
o Middle East
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