Plant-based Protein Supplement Market

Plant-based Protein Supplement Market Analysis by Concentrates, Isolates, and Textured from 2024 to 2034

Analysis of Plant-based Protein Supplement Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more

Plant-based Protein Supplement Market Outlook (2024 to 2034)

The global plant-based protein supplement market size is estimated at US$ 1.12 billion in 2024 and is forecasted to rise at a CAGR of 5.7% to reach US$ 1.96 billion by the end of 2034.

Increasing demand for a diet high in protein, growing knowledge of the health and wellness trends, rising consumer focus on meat substitutes, and growing demand from the food and beverages industry are some of the other key factors propelling the plant-based protein supplement market trends. A steady economic environment and evolving lifestyle have elevated the nutrition and health sectors to the forefront, which has bolstered the demand for plant-based proteins. The need for sustainable protein sources, such as plant-based protein, has increased with growing environmental and animal welfare concerns.

Rising obesity rates worldwide along with an increase in health issues like high blood pressure, diabetes, asthma, and heart disease have raised consumer awareness of health issues in general. Meat consumption per capita has decreased, particularly in wealthy economies. Customers are increasingly favoring food products that closely mimic the taste, texture, and nutritional profile of meat while maintaining a high nutritional content. Innovative product launches combined with aggressive positioning and marketing techniques are some of the other key drivers of the plant-based protein supplement market growth.

Report Attributes Details
Plant-based Protein Supplement Market Size (2024E) US$ 1.12 Billion
Forecasted Market Value (2034F) US$ 1.96 Billion
Global Market Growth Rate (2024 to 2034) 5.7% CAGR
North America Market Share (2034F) 73.1%
East Asia Market Growth Rate (2024 to 2034) 6.3% CAGR
Market Share of Soy Proteins (2024E) 34.51%
Key Companies Profiled
  • Quest Nutrition
  • Woodbolt Distribution LLC
  • MusclePharm Corporation
  • Glanbia PLC
  • NOW Foods
  • AMCO Proteins
  • The Bountiful Company
  • VEGA
  • General Nutrition Centers, Inc.

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Why are Worldwide Sales of Plant-based Protein Supplements Rising Steadily?

“Rising Awareness of Animal Welfare and Increasing Prevalence of Lactose Intolerance”

As consumers become more conscious of environmental sustainability and animal cruelty, they are moving toward plant-based diets. Other reasons influencing the demand for plant-based proteins, particularly plant-based meat and protein supplements, are the increasing incidence of lactose allergies and intolerance.

Protein supplements are being adopted by fitness enthusiasts for their ability to build muscle because of their greater amino acid content. Aggressive marketing and promotion campaigns in gyms and fitness centers, along with the launch of innovative protein supplement products such as ready-to-drink supplements, are projected to drive up product demand throughout the forecast period.

“Increasing Willingness to Spend on Protein Supplements for General Health and Endurance”

Increased consumer awareness of the nutritional advantages of protein supplements has been brought about by several awareness initiatives sponsored by businesses, government organizations, and non-governmental organizations. Market growth is influenced by the addition of natural and organic items to the product portfolios of certain protein supplement producers.

The market for plant-based protein supplements is forecast to grow in the coming years due to the increased consumer awareness brought about by the use of eye-catching packaging techniques. Spending on protein supplements to enhance general health and endurance during physically demanding activities has increased as a result of this.

What Challenges are Hindering Plant-based Protein Supplement Market Expansion?

“Concerns about Source and Quality of Genetically Modified Crops”

The market is expanding at a significant pace but one major obstacle is customers’ concerns about the source and quality of components, especially when it comes to genetically modified crops (GMOs). These concerns are a major market constraint since customers do not trust goods made from genetically modified crops.

Purchasing decisions are being influenced by consumers’ perceptions of health and wellness, the need for transparency and traceability, and ethical and environmental factors. It is essential to address these issues through transparent labeling, certification, and consumer education if the market is to maintain its current growth trajectory.

“Constant Demand for Higher-Quality Supplements Offering Enhanced Efficacy”

As customers learn more about nutrition and wellness, they have higher expectations regarding the quality and effectiveness of protein supplements. In addition to being in line with their moral and environmental principles, they are searching for products with enhanced nutritional profiles and improved digestibility.

The need to constantly improve the nutritional profiles of products is a major barrier for businesses in this industry in terms of expenditure. Companies must invest in research and technological advancements to cater to consumers’ demands and stay competitive.

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Country-wise Insights

A growing number of American customers are choosing to lead healthier lifestyles. This entails exercising more vigorously and making a deliberate effort to maintain health. Consumers' purchasing power has increased as a result of China's economic expansion. More money can be spent on wellness and health items, such as plant-based supplements, due to this economic empowerment.

Why are Producers of Plant-based Protein Supplements Investing in China?

“Government Initiatives Promoting Participation in Sports and Fitness Activities”

Attribute China
Market Value (2024E) US$ 191.7 Million
Growth Rate (2024 to 2034) 6.1% CAGR
Projected Value (2034F) US$ 346.7 Million

Consumption of protein supplements has increased significantly in China, which is projected to drive market growth over the forecast period. As customers' purchasing power increases and various brands become accessible in the country, the popularity of plant-based supplements is forecast to surge. Government measures also encourage participation in sports and fitness activities as a way to lead active and healthy lifestyles.

Why is Consumption of Plant-based Protein Supplements Gaining Traction in the United States?

“Rising Preference for Organic and Natural Food Products over Processed Foods”

Attribute United States
Market Value (2024E) US$ 188.8 Million
Growth Rate (2024 to 2034) 4.9% CAGR
Projected Value (2034F) US$ 304.6 Million

More consumers in the United States are adopting healthy lifestyles and engaging in activities that help them stay active and in excellent health. This growing number of health-conscious consumers is driving up demand for nutritious meals in the country.

Organic and natural food products that promote health are being preferred over industrially produced processed foods. These factors boost the need for protein supplements. Prominent manufacturers of protein supplements in the country are focusing on R&D to create innovative products to widen their customer base. Their goal is to provide high-quality products at a reasonable price while adhering to the regulations set by the United States Food and Drug Administration (FDA).

Category-wise Insights

Soy is the main source of proteins and other nutrients for vegetarians and vegans, as well as people with lactose intolerance. Soy contains low levels of fat.

Why Does Soy Protein Account for Higher Sales?

“Soy Protein Playing Crucial Role in Muscle Recovery and Strengthening Immunity”

Attribute Soy Protein
Segment Value (2024E) US$ 441 Million
Growth Rate (2024 to 2034) 6% CAGR
Projected Value (2034F) US$ 791 Million

Soy protein will account for a leading plant-based protein supplement market share in 2024. This is due to the rising popularity of soy protein as a rich source of glutamine and branched-chain amino acids (BCAAs), which promote quick absorption and muscle recovery. In addition, soy proteins strengthen immunity, support healthy bones, and aid in the prevention of cardiovascular disease.

The growing incidence of lactose intolerance and glutamic disorders in developed countries is projected to fuel demand for soy protein. Soy protein powder is used to manufacture a variety of meat and dairy substitutes, including newborn soy formula.

  • As per the United Soybean Board, demand for soy-based products is increasing gradually, with approximately 35% of Americans stating that they consume soy meals or beverages at least once a week.

What Makes Online Retail Attractive for Sales of Plant-based Protein Supplements?

“Online Retail Channels Offering Increased Product Accessibility”

Attribute Online Retail
Segment Value (2024E) US$ 389 Million
Growth Rate (2024 to 2034) 5.2% CAGR
Projected Value (2034F) US$ 647 Million

Online sales of plant-based protein supplements are increasing due to easy product accessibility, a straightforward purchasing process, and the availability of a large selection of goods from different companies. Leading a healthy lifestyle is becoming increasingly important among younger generations, and this group is a leading consumer of protein supplements in the United States.

Know thy Competitors

Competitive landscape highlights only certain players
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Competitive Landscape

With several well-known companies in the global plant-based protein supplements market, this is an extremely competitive landscape. To satisfy customers’ needs, many companies in the industry are actively striving to develop innovative products. Consumer preference for plant-based foods over animal-based items is opening up lucrative opportunities for market players.

Companies specializing in animal-based food products are collaborating with those producing plant-based alternatives to stay competitive.

  • GELITA AG announced the opening of a facility in Frankfurt, Germany, in July 2022 to produce nutraceuticals, cosmetics, and medications using biotechnological methods. The company aims to enhance its biotechnology expertise, follow sustainability goals, and explore new and profitable market segments.

Segmentation of Plant-based Protein Supplement Market Research

  • By Raw Material :

    • Soy Protein
    • Wheat Protein
    • Pea Protein
  • By Product Type :

    • Concentrates
    • Isolates
    • Textured
  • By Sales Channel :

    • Hypermarkets/Supermarkets
    • Specialty Stores
    • Pharmacy & Drug Stores
    • Online Retail
  • By Region :

    • North America
    • Latin America
    • Europe
    • East Asia
    • South Asia & Oceania
    • Middle East & Africa

- FAQs -

What is the estimated plant-based protein supplement market size in 2024?

The global plant-based protein supplement market is estimated at US$ 1.12 billion in 2024.

What are the projected sales of plant-based protein supplements for 2034?

By 2034-end, worldwide sales of plant-based protein supplements are forecasted to reach US$ 1.96 billion.

What is the demand growth projection for plant-based protein supplements?

Demand for plant-based protein supplements is forecasted to rise at 5.7% CAGR over the next 10 years.

How is the North American market projected to perform?

Sales of plant-based protein supplements in North America are projected to increase at 5.1% CAGR from 2024 to 2034.

At what rate are online sales of plant-based protein supplements forecasted to increase?

Sales of plant-based protein supplements through online retail channels are forecasted to rise at a CAGR of 5.2% from 2024 to 2034.

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