Summary

The plant-based protein supplements market is gaining traction as consumers increasingly seek healthier alternatives to meat and dairy. This shift is largely driven by growing awareness of the health benefits associated with plant-based diets and a rising trend of veganism. Plant-based protein supplements, derived from sources like wheat, soy, and pea, have seen a significant surge in demand, reflecting the broader consumer movement towards plant-based foods in the global market.The market, valued at $1.14 billion in 2024, is projected to reach $1.65 billion by 2031, reflecting a compound annual growth rate (CAGR) of 5.40%.

Key Trends Shaping the Market

The plant-based protein supplements market has experienced notable growth in recent years. Protein supplements are among the most popular nutritional products available, and with the increasing adoption of plant-based diets, the market is witnessing growing acceptance and popularity.

One of the primary drivers of this trend is the increasing awareness of ethical and environmental issues, which has led more consumers to choose plant-based options. As a result, companies in the plant-based protein supplements market are investing heavily in research and development to innovate and produce supplements that not only meet consumer health needs but also align with their ethical values.

Market Dynamics

Growth Drivers

Rising Demand for Healthy Alternatives to Meat and Dairy:

Consumers' perceptions of healthy eating are evolving, with many now focusing on meeting recommended protein intake levels through plant-based sources. This shift is particularly evident among vegetarians, vegans, and those with dietary restrictions who seek allergen-free alternatives to traditional meat and dairy products. Plant-based proteins are seen as a healthier option, driving their growing popularity in the market.

Growing Interest in Weight Management:

The increasing prevalence of obesity and lifestyle-related disorders has led consumers to seek out healthier food options. Plant-based protein supplements are becoming an integral part of weight management diets, as they offer a complete profile of essential amino acids without the drawbacks of allergens, digestive discomfort, or dietary restrictions. These supplements are particularly popular among those looking for alternatives to whey protein.

Increasing Food Sensitivity:

As food-related allergies become more common, consumer preferences are shifting towards diets that minimize the risk of allergic reactions. Plant-based proteins, known for being non-GMO and allergen-free, are becoming a popular choice for individuals with food sensitivities, such as lactose intolerance. This trend is expected to continue driving demand for plant-based protein supplements.

Market Challenges

Limited Awareness and Acceptance:

Despite the growing popularity of plant-based diets, many consumers are still unfamiliar with plant-based protein supplements. Some users are deterred by the unusual flavor and texture of these products, which they perceive as less satisfying than animal-based protein supplements. This lack of awareness and negative perception presents a significant challenge to market growth.

Premium Pricing:

The high cost of plant-based protein supplements, driven by limited resources and high processing costs, is another factor impeding market growth. These products are often priced at a premium, making them less accessible to consumers in developing countries and to lower-income consumers in developed economies.

Market Opportunities

Rising Popularity of Veganism in Developed Regions:

The growing popularity of veganism, particularly in developed regions, is creating new opportunities for the plant-based protein supplements market. As more consumers adopt vegan lifestyles, which extend beyond diet to include cosmetics, accessories, and clothing, the demand for plant-based protein supplements is expected to rise. This trend is particularly strong in wealthy countries, where the number of vegans has been steadily increasing.

Growth of Organic Food Blends with Plant Protein:

Consumer preference for organic food products is expected to rise significantly in the coming years. In response, protein suppliers and manufacturers are tailoring their offerings to meet this demand. The organic protein sector is attracting new companies, many of which are launching organic plant-based proteins to capitalize on the growing market. The increasing popularity of organic foods is expected to create profitable opportunities for businesses in this sector.

Key Market Segments

Soy Protein:

Soy protein remains the dominant segment in the plant-based protein supplements market, accounting for the largest market share. This is largely due to the widespread acceptance and cost-efficiency of soybeans, as well as the nutritional benefits they offer. Soy protein is a complete protein source, rich in essential nutrients like iron and calcium, making it a mainstay in the market for decades. However, concerns over soy allergies and the debate surrounding genetically modified organisms (GMOs) may impact its dominance in the future.

Pea Protein:

Pea protein is emerging as a strong competitor in the plant-based protein supplements market, with expectations of significant growth in the coming years. Its hypoallergenic profile makes it an ideal alternative for individuals with soy allergies or sensitivities. Pea protein is also easily digestible and contains a high level of branched-chain amino acids (BCAAs), which are beneficial for muscle growth and repair. The clean-label appeal of pea protein, along with its favorable flavor and texture, is driving its increasing popularity among consumers.

Regional Insights

North America:

North America continues to dominate the plant-based protein supplements market, capturing the largest share of global revenue. The region's established fitness culture, strong presence of leading manufacturers, and growing consumer interest in plant-based diets contribute to this leadership position. The increasing vegan population in North America is another significant factor driving market growth.

South Asia & Pacific:

India stands out as a leader in the South Asia & Pacific region for plant-based protein supplements. The country's large vegetarian population, combined with a growing awareness of health and fitness, makes it a naturally receptive market for these products. Indian consumers view plant-based protein supplements as a healthy way to meet their protein requirements, supporting the market's growth.

Latin America:

Latin America is emerging as a significant growth engine for the plant-based protein supplements market. The region's focus on weight management, driven by high rates of obesity, is shifting nutritional recommendations towards plant-based options. As more Latin Americans invest in preventive healthcare, the demand for plant-based protein supplements is expected to rise.

Leading Companies in the Market

The plant-based protein supplements market features several key players, including:

• Axiom Foods

• Glanbia plc

• NOW Health Group Inc.

• MusclePharm Corporation

• Ingredion Inc.

• Roquette Frères

• DuPont

• Archer-Daniels-Midland Co.

• Batory Foods

• The Scoular Company

Market Segmentation

By Type

• Soy Protein

• Wheat Protein

• Pea Protein

• Others

By Sales Channel

• Hypermarkets/Supermarkets

• Specialty Stores

• Pharmacy & Drug Stores

• Online Retail

By Region

• North America

• Europe

• Latin America

• Western Europe

• Eastern Europe

• South Asia and Pacific

• East Asia

• The Middle East and Africa

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Table of Contents

1. Executive Summary
1.1. Global Plant Based Protein Supplements Market Snapshot
1.2. Future Projections
1.3. Key Market Trends
1.4. Regional Snapshot, by Value and Volume, 2023
1.5. Analyst Recommendations
2. Market Overview
2.1. Market Definitions and Segmentations
2.2. Market Dynamics
2.2.1. Drivers
2.2.2. Restraints
2.2.3. Market Opportunities
2.3. Value Chain Analysis
2.4. Porter’s Five Forces Analysis
2.5. COVID-19 Impact Analysis
2.5.1. Supply
2.5.2. Demand
2.6. Impact of Ukraine-Russia Conflict
2.7. Economic Overview
2.7.1. World Economic Projections
2.8. PESTLE Analysis
3. Production Output and Trade Statistics, 2019-2023
3.1. Global Plant Based Protein Supplements Market Production Output, by Region, Value (US$ Bn) and Volume (Tons), 2019-2023
3.1.1. North America
3.1.2. Europe
3.1.3. Asia Pacific
3.1.4. Latin America
3.1.5. Middle East and Africa
4. Price Analysis, 2019-2023
4.1. Global Average Price Analysis, by Type, US$ Per Tons, 2019-2023
4.2. Prominent Factor Affecting Plant Based Protein Supplements Prices
4.3. Global Average Price Analysis, by Region, US$ Per Ton
5. Global Plant Based Protein Supplements Market Outlook, 2019-2031
5.1. Global Plant Based Protein Supplements Market Outlook, by Type, Value (US$ Bn) and Volume (Tons), 2019-2031
5.1.1. Key Highlights
5.1.1.1. Soy Protein
5.1.1.2. Wheat Protein
5.1.1.3. Pea Protein
5.1.1.4. Others
5.2. Global Plant Based Protein Supplements Market Outlook, by Sales Channel, Value (US$ Bn) and Volume (Tons), 2019-2031
5.2.1. Key Highlights
5.2.1.1. Hypermarkets/Supermarkets
5.2.1.2. Specialty Stores
5.2.1.3. Pharmacy & Drug Stores
5.2.1.4. Online Retail
5.3. Global Plant Based Protein Supplements Market Outlook, by Region, Value (US$ Bn) and Volume (Tons), 2019-2031
5.3.1. Key Highlights
5.3.1.1. North America
5.3.1.2. Europe
5.3.1.3. Asia Pacific
5.3.1.4. Latin America
5.3.1.5. Middle East & Africa
6. North America Plant Based Protein Supplements Market Outlook, 2019-2031
6.1. North America Plant Based Protein Supplements Market Outlook, by Type, Value (US$ Bn) and Volume (Tons), 2019-2031
6.1.1. Key Highlights
6.1.1.1. Soy Protein
6.1.1.2. Wheat Protein
6.1.1.3. Pea Protein
6.1.1.4. Others
6.2. North America Plant Based Protein Supplements Market Outlook, by Sales Channel, Value (US$ Bn) and Volume (Tons), 2019-2031
6.2.1. Key Highlights
6.2.1.1. Hypermarkets/Supermarkets
6.2.1.2. Specialty Stores
6.2.1.3. Pharmacy & Drug Stores
6.2.1.4. Online Retail
6.3. North America Plant Based Protein Supplements Market Outlook, by Country, Value (US$ Bn) and Volume (Tons), 2019-2031
6.3.1. Key Highlights
6.3.1.1. U.S. Plant Based Protein Supplements Market by Type, Value (US$ Bn) and Volume (Tons), 2019-2031
6.3.1.2. U.S. Plant Based Protein Supplements Market by Sales Channel, Value (US$ Bn) and Volume (Tons), 2019-2031
6.3.1.3. Canada Plant Based Protein Supplements Market by Type, Value (US$ Bn) and Volume (Tons), 2019-2031
6.3.1.4. Canada Plant Based Protein Supplements Market by Sales Channel, Value (US$ Bn) and Volume (Tons), 2019-2031
6.3.2. BPS Analysis/Market Attractiveness Analysis
7. Europe Plant Based Protein Supplements Market Outlook, 2019-2031
7.1. Europe Plant Based Protein Supplements Market Outlook, by Type, Value (US$ Bn) and Volume (Tons), 2019-2031
7.1.1. Key Highlights
7.1.1.1. Soy Protein
7.1.1.2. Wheat Protein
7.1.1.3. Pea Protein
7.1.1.4. Others
7.2. Europe Plant Based Protein Supplements Market Outlook, by Sales Channel, Value (US$ Bn) and Volume (Tons), 2019-2031
7.2.1. Key Highlights
7.2.1.1. Hypermarkets/Supermarkets
7.2.1.2. Specialty Stores
7.2.1.3. Pharmacy & Drug Stores
7.2.1.4. Online Retail
7.3. Europe Plant Based Protein Supplements Market Outlook, by Country, Value (US$ Bn) and Volume (Tons), 2019-2031
7.3.1. Key Highlights
7.3.1.1. Germany Plant Based Protein Supplements Market by Type, Value (US$ Bn) and Volume (Tons), 2019-2031
7.3.1.2. Germany Plant Based Protein Supplements Market by Sales Channel, Value (US$ Bn) and Volume (Tons), 2019-2031
7.3.1.3. U.K. Plant Based Protein Supplements Market by Type, Value (US$ Bn) and Volume (Tons), 2019-2031
7.3.1.4. U.K. Plant Based Protein Supplements Market by Sales Channel, Value (US$ Bn) and Volume (Tons), 2019-2031
7.3.1.5. France Plant Based Protein Supplements Market by Type, Value (US$ Bn) and Volume (Tons), 2019-2031
7.3.1.6. France Plant Based Protein Supplements Market by Sales Channel, Value (US$ Bn) and Volume (Tons), 2019-2031
7.3.1.7. Italy Plant Based Protein Supplements Market by Type, Value (US$ Bn) and Volume (Tons), 2019-2031
7.3.1.8. Italy Plant Based Protein Supplements Market by Sales Channel, Value (US$ Bn) and Volume (Tons), 2019-2031
7.3.1.9. Turkey Plant Based Protein Supplements Market by Type, Value (US$ Bn) and Volume (Tons), 2019-2031
7.3.1.10. Turkey Plant Based Protein Supplements Market by Sales Channel, Value (US$ Bn) and Volume (Tons), 2019-2031
7.3.1.11. Russia Plant Based Protein Supplements Market by Type, Value (US$ Bn) and Volume (Tons), 2019-2031
7.3.1.12. Russia Plant Based Protein Supplements Market by Sales Channel, Value (US$ Bn) and Volume (Tons), 2019-2031
7.3.1.13. Rest of Europe Plant Based Protein Supplements Market by Type, Value (US$ Bn) and Volume (Tons), 2019-2031
7.3.1.14. Rest of Europe Plant Based Protein Supplements Market by Sales Channel, Value (US$ Bn) and Volume (Tons), 2019-2031
7.3.2. BPS Analysis/Market Attractiveness Analysis
8. Asia Pacific Plant Based Protein Supplements Market Outlook, 2019-2031
8.1. Asia Pacific Plant Based Protein Supplements Market Outlook, by Type, Value (US$ Bn) and Volume (Tons), 2019-2031
8.1.1. Key Highlights
8.1.1.1. Soy Protein
8.1.1.2. Wheat Protein
8.1.1.3. Pea Protein
8.1.1.4. Others
8.2. Asia Pacific Plant Based Protein Supplements Market Outlook, by Sales Channel, Value (US$ Bn) and Volume (Tons), 2019-2031
8.2.1. Key Highlights
8.2.1.1. Hypermarkets/Supermarkets
8.2.1.2. Specialty Stores
8.2.1.3. Pharmacy & Drug Stores
8.2.1.4. Online Retail
8.3. Asia Pacific Plant Based Protein Supplements Market Outlook, by Country, Value (US$ Bn) and Volume (Tons), 2019-2031
8.3.1. Key Highlights
8.3.1.1. China Plant Based Protein Supplements Market by Type, Value (US$ Bn) and Volume (Tons), 2019-2031
8.3.1.2. China Plant Based Protein Supplements Market by Sales Channel, Value (US$ Bn) and Volume (Tons), 2019-2031
8.3.1.3. Japan Plant Based Protein Supplements Market by Type, Value (US$ Bn) and Volume (Tons), 2019-2031
8.3.1.4. Japan Plant Based Protein Supplements Market by Sales Channel, Value (US$ Bn) and Volume (Tons), 2019-2031
8.3.1.5. South Korea Plant Based Protein Supplements Market by Type, Value (US$ Bn) and Volume (Tons), 2019-2031
8.3.1.6. South Korea Plant Based Protein Supplements Market by Sales Channel, Value (US$ Bn) and Volume (Tons), 2019-2031
8.3.1.7. India Plant Based Protein Supplements Market by Type, Value (US$ Bn) and Volume (Tons), 2019-2031
8.3.1.8. India Plant Based Protein Supplements Market by Sales Channel, Value (US$ Bn) and Volume (Tons), 2019-2031
8.3.1.9. Southeast Asia Plant Based Protein Supplements Market by Type, Value (US$ Bn) and Volume (Tons), 2019-2031
8.3.1.10. Southeast Asia Plant Based Protein Supplements Market by Sales Channel, Value (US$ Bn) and Volume (Tons), 2019-2031
8.3.1.11. Rest of Asia Pacific Plant Based Protein Supplements Market by Type, Value (US$ Bn) and Volume (Tons), 2019-2031
8.3.1.12. Rest of Asia Pacific Plant Based Protein Supplements Market by Sales Channel, Value (US$ Bn) and Volume (Tons), 2019-2031
8.3.2. BPS Analysis/Market Attractiveness Analysis
9. Latin America Plant Based Protein Supplements Market Outlook, 2019-2031
9.1. Latin America Plant Based Protein Supplements Market Outlook, by Type, Value (US$ Bn) and Volume (Tons), 2019-2031
9.1.1. Key Highlights
9.1.1.1. Soy Protein
9.1.1.2. Wheat Protein
9.1.1.3. Pea Protein
9.1.1.4. Others
9.2. Latin America Plant Based Protein Supplements Market Outlook, by Sales Channel, Value (US$ Bn) and Volume (Tons), 2019-2031
9.2.1. Key Highlights
9.2.1.1. Hypermarkets/Supermarkets
9.2.1.2. Specialty Stores
9.2.1.3. Pharmacy & Drug Stores
9.2.1.4. Online Retail
9.3. Latin America Plant Based Protein Supplements Market Outlook, by Country, Value (US$ Bn) and Volume (Tons), 2019-2031
9.3.1. Key Highlights
9.3.1.1. Brazil Plant Based Protein Supplements Market by Type, Value (US$ Bn) and Volume (Tons), 2019-2031
9.3.1.2. Brazil Plant Based Protein Supplements Market by Sales Channel, Value (US$ Bn) and Volume (Tons), 2019-2031
9.3.1.3. Mexico Plant Based Protein Supplements Market by Type, Value (US$ Bn) and Volume (Tons), 2019-2031
9.3.1.4. Mexico Plant Based Protein Supplements Market by Sales Channel, Value (US$ Bn) and Volume (Tons), 2019-2031
9.3.1.5. Argentina Plant Based Protein Supplements Market by Type, Value (US$ Bn) and Volume (Tons), 2019-2031
9.3.1.6. Argentina Plant Based Protein Supplements Market by Sales Channel, Value (US$ Bn) and Volume (Tons), 2019-2031
9.3.1.7. Rest of Latin America Plant Based Protein Supplements Market by Type, Value (US$ Bn) and Volume (Tons), 2019-2031
9.3.1.8. Rest of Latin America Plant Based Protein Supplements Market by Sales Channel, Value (US$ Bn) and Volume (Tons), 2019-2031
9.3.2. BPS Analysis/Market Attractiveness Analysis
10. Middle East & Africa Plant Based Protein Supplements Market Outlook, 2019-2031
10.1. Middle East & Africa Plant Based Protein Supplements Market Outlook, by Type, Value (US$ Bn) and Volume (Tons), 2019-2031
10.1.1. Key Highlights
10.1.1.1. Soy Protein
10.1.1.2. Wheat Protein
10.1.1.3. Pea Protein
10.1.1.4. Others
10.2. Middle East & Africa Plant Based Protein Supplements Market Outlook, by Sales Channel, Value (US$ Bn) and Volume (Tons), 2019-2031
10.2.1. Key Highlights
10.2.1.1. Hypermarkets/Supermarkets
10.2.1.2. Specialty Stores
10.2.1.3. Pharmacy & Drug Stores
10.2.1.4. Online Retail
10.3. Middle East & Africa Plant Based Protein Supplements Market Outlook, by Country, Value (US$ Bn) and Volume (Tons), 2019-2031
10.3.1. Key Highlights
10.3.1.1. GCC Plant Based Protein Supplements Market by Type, Value (US$ Bn) and Volume (Tons), 2019-2031
10.3.1.2. GCC Plant Based Protein Supplements Market by Sales Channel, Value (US$ Bn) and Volume (Tons), 2019-2031
10.3.1.3. South Africa Plant Based Protein Supplements Market by Type, Value (US$ Bn) and Volume (Tons), 2019-2031
10.3.1.4. South Africa Plant Based Protein Supplements Market by Sales Channel, Value (US$ Bn) and Volume (Tons), 2019-2031
10.3.1.5. Egypt Plant Based Protein Supplements Market by Type, Value (US$ Bn) and Volume (Tons), 2019-2031
10.3.1.6. Egypt Plant Based Protein Supplements Market by Sales Channel, Value (US$ Bn) and Volume (Tons), 2019-2031
10.3.1.7. Nigeria Plant Based Protein Supplements Market by Type, Value (US$ Bn) and Volume (Tons), 2019-2031
10.3.1.8. Nigeria Plant Based Protein Supplements Market by Sales Channel, Value (US$ Bn) and Volume (Tons), 2019-2031
10.3.1.9. Rest of Middle East & Africa Plant Based Protein Supplements Market by Type, Value (US$ Bn) and Volume (Tons), 2019-2031
10.3.1.10. Rest of Middle East & Africa Plant Based Protein Supplements Market by Sales Channel, Value (US$ Bn) and Volume (Tons), 2019-2031
10.3.2. BPS Analysis/Market Attractiveness Analysis
11. Competitive Landscape
11.1. Product vs Indication Heatmap
11.2. Company Market Share Analysis, 2022
11.3. Competitive Dashboard
11.4. Company Profiles
11.4.1. Axiom foods
11.4.1.1. Company Overview
11.4.1.2. Product Portfolio
11.4.1.3. Financial Overview
11.4.1.4. Business Strategies and Development
11.4.2. Glanbia plc
11.4.2.1. Company Overview
11.4.2.2. Product Portfolio
11.4.2.3. Financial Overview
11.4.2.4. Business Strategies and Development
11.4.3. NOW Health Group Inc.
11.4.3.1. Company Overview
11.4.3.2. Product Portfolio
11.4.3.3. Financial Overview
11.4.3.4. Business Strategies and Development
11.4.4. MusclePharm Corporation
11.4.4.1. Company Overview
11.4.4.2. Product Portfolio
11.4.4.3. Financial Overview
11.4.4.4. Business Strategies and Development
11.4.5. Ingredion Inc.
11.4.5.1. Company Overview
11.4.5.2. Product Portfolio
11.4.5.3. Financial Overview
11.4.5.4. Business Strategies and Development
11.4.6. ‎ Roquette Frères
11.4.6.1. Company Overview
11.4.6.2. Product Portfolio
11.4.6.3. Financial Overview
11.4.6.4. Business Strategies and Development
11.4.7. DuPont
11.4.7.1. Company Overview
11.4.7.2. Product Portfolio
11.4.7.3. Financial Overview
11.4.7.4. Business Strategies and Development
11.4.8. Archer-Daniels-Midland Co.
11.4.8.1. Company Overview
11.4.8.2. Product Portfolio
11.4.8.3. Financial Overview
11.4.8.4. Business Strategies and Development
11.4.9. Batory Foods
11.4.9.1. Company Overview
11.4.9.2. Product Portfolio
11.4.9.3. Financial Overview
11.4.9.4. Business Strategies and Development
11.4.10. The Scoular Company
11.4.10.1. Company Overview
11.4.10.2. Product Portfolio
11.4.10.3. Financial Overview
11.4.10.4. Business Strategies and Development
12. Appendix
12.1. Research Methodology
12.2. Report Assumptions
12.3. Acronyms and Abbreviations