Fior Markets launched a study titled “Global Plant Based Protein Supplements Market by Raw Material Outlook (Soy, Others), Product Outlook, Distribution Channel Outlook, Application Outlook, Region)” and Global Forecast 2018-2025.
The global plant based protein supplements market is expected to grow from USD 12.8 Billion in 2017 to USD 23.9 Billion by 2025 at a CAGR of 8.1% during the forecast period from 2018-2025. Increasing acceptance of Ready-to-Drink (RTD) product and evolution of e-commerce is expanding the consumption of protein supplements
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Soy segmentis dominating the market with the highest share of 25.60% in 2017
The raw material outlook segment is classified into soy, spirulina, pumpkin seed, hemp, rice, pea and others.The soy segment is dominating the plant based protein supplements market in 2017 due to high nutritional value of soy protein which helps in dropping the cholesterol level and fighting with heart disease. It is also used as energy drinks and dietary supplements products.
Protein powder segment is anticipated to grow with the highest CAGR of 9.28% over the forecast period
Product outlook segment includes protein powder, protein bars, Ready-to-Drink (RTD) and others. Protein powder segment is anticipated to grow with the highest CAGR over the forecast period. Growing health concerns and increase in demand from athletes and bodybuilders consumers has led to the growth of the segment.
Supermarket segment valued around USD 4.37 Billion in 2017
Distribution channel outlook segment is divided into segments such as supermarket, online stores, DTC and others. Supermarket is dominating the market in 2017. Consumers are bending more towards health and wellness and they can avail different healthy eating options at these supermarkets.
Sports nutritionsegment is valued aroundUSD 8.60 Billion in 2017
The application outlook segment includes sports nutrition and additional nutrition. Sports nutrition segment dominated the market in 2017 due to rising preference towards health body and consuming nutritious products by the bodybuilders, growing demand for protein rich diet and mounting health & wellness trend.
Regional Segmentation Analysis:
The market is analysed on the basis of five regions namely North America, Europe, Asia Pacific, South America, and Middle East and Africa. North America held the largest market share of approximately35.60% in 2017.North America commanded the largest share in this market because of well recognised food and beverage industry, growing concerns over animal products and protein, mounting vegan population, rising preference for meat alternatives, increasing demand for healthy & nutritional products, and health & wellness trend.
The major players of market include Archer Daniel Midland Company, Kerry Group, and Cargill Incorporated, E.I. Du Pont de Company and Omega Protein Corporation, Nemours and Company, Fonterra Co-Operative Group, Beyond Meat, Sun Brothers, LLC, Vega, AMCO Proteins, Hilmar Cheese Company, Inc., and Omega Protein Corporation, Sotexpro, Farbest Brands, Crespel&Deiters GmbH & Co. KG, Wilmar International Ltd.,and CHS Inc. among others.
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