Plant Based Protein Supplements Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region:

Description

The global market for plant-based protein supplements is experiencing notable growth, driven by increasing consumer interest in healthier alternatives to traditional meat and dairy products. This surge in demand is largely attributed to the rising trend of veganism and heightened awareness of ethical and environmental concerns.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%. Plant-based protein supplements, derived primarily from sources such as wheat, soy, and pea plants, are gaining widespread acceptance as more consumers seek to align their dietary choices with these values.

The demand for plant-based protein supplements is further fueled by a shift in consumer preferences toward products that promote overall health and well-being. As protein supplements remain one of the most popular and widely used nutritional supplements, the growing trend of plant-based diets within the food and beverage industry has led to a significant increase in the adoption of these products.

In response to this growing demand, leading manufacturers of plant-based protein supplements are heavily investing in research and development to create innovative products that cater to a diverse range of health needs. These companies are introducing various formulations that ensure consumers receive adequate nutrition, thereby attracting global attention and enabling the adoption of new technologies within the industry.

Key Market Trends

Several key trends are shaping the plant-based protein supplements market. The popularity of vegan diets continues to rise, and this, combined with the growing awareness of ethical consumption, has led to an increased focus on healthier meat and dairy alternatives. Additionally, weight management diets are increasingly incorporating plant-based proteins, offering consumers an effective way to meet their dietary needs while avoiding animal products.

Consumers with lactose intolerance or other dietary restrictions are turning to plant-based proteins as a safe and nutritious alternative. To cater to these needs, brands are focusing on developing tastier and more functional supplements that appeal to a broader audience.

Market Growth Drivers

The growth of the plant-based protein supplements market is primarily driven by the increasing demand for healthy alternatives to meat and dairy products. Consumers are becoming more aware of the health benefits associated with plant-based proteins, particularly their role in meeting dietary protein requirements without the allergens commonly found in animal-based products. This shift in consumer perception is fostering a growing preference for plant-based diets, further propelling the market's expansion.

Another significant driver is the rising demand for weight loss products. As consumers become more health-conscious and seek to reduce the risk of obesity and related lifestyle disorders, there is a growing preference for nutritious foods, including plant-based protein supplements. The adoption of plant-based protein diets, coupled with the increasing popularity of health and fitness clubs, is contributing to the overall growth of the health and wellness industry.

Furthermore, the rising incidence of food sensitivity, particularly lactose intolerance, is influencing consumer preferences and driving demand for plant-based protein supplements. These products are gaining popularity as a viable alternative to dairy proteins due to their ability to deliver essential nutrients without triggering allergic reactions.

Challenges Impeding Market Growth

Despite the positive outlook, the plant-based protein supplements market faces several challenges. One of the main obstacles is the lack of awareness among consumers about the benefits of plant-based proteins. Additionally, some consumers are put off by the flavor and texture of these products, which they find less satisfying compared to animal-based protein supplements.

The premium pricing of plant-based protein supplements also presents a significant barrier to market growth. The higher cost of these products, driven by limited resources and high processing costs, makes them less accessible to consumers in developing countries and low-income consumers in developed economies.

Market Opportunities

The growing popularity of vegan protein supplements in developed regions presents a significant opportunity for the market. The vegan lifestyle, which involves the elimination of animal products from one's diet and other aspects of life, has gained considerable traction in recent years. This trend is particularly evident in developed countries, where the number of people adopting vegan diets is on the rise. As more consumers embrace veganism and spend money on vegan products, the plant-based protein supplements market is set to benefit.

Another promising opportunity lies in the rising consumer preference for organic food products. As more consumers seek out natural and plant-based foods, the market for organic plant-based proteins is expected to expand. Manufacturers are likely to introduce new organic plant-based protein products to meet this growing demand, further driving market growth.

Soy Protein Dominates, Pea Protein Emerges

Within the plant-based protein supplements market, soy protein remains the dominant segment, accounting for a significant share of the market. Soy protein's wide acceptance, cost efficiency, and rich nutrient profile make it a popular choice among consumers. However, concerns over soy allergies and the debate surrounding genetically modified organisms (GMOs) in soy production may impact its market dominance.

Pea protein, on the other hand, is rapidly gaining traction as a viable alternative to soy protein. Known for its hypoallergenic properties and high branched-chain amino acid (BCAA) content, pea protein is emerging as a strong contender in the market. Its digestibility, clean-label appeal, and favorable flavor and texture are driving its popularity among consumers.

Regional Insights

The North American market continues to hold the largest share of the global plant-based protein supplements market. This dominance is attributed to the region's well-established fitness culture, the strong presence of leading manufacturers, and growing consumer interest in plant-based diets. The increasing vegan population in North America is also contributing to the region's leadership in this market.

In the South Asia and Pacific region, India stands out as a key player in the plant-based protein supplements market. The country's large vegetarian population, combined with a growing awareness of health and fitness, is driving demand for plant-based protein supplements. Indian consumers view these products as a healthy way to meet their protein requirements and support an active lifestyle.

Latin America is also emerging as a significant growth market for plant-based protein supplements. The region, particularly Chile, is witnessing a shift in nutritional recommendations, with a growing focus on combating obesity. As more consumers in Latin America invest in preventive healthcare, the demand for premium products like plant-based protein supplements is expected to rise.

Leading Market Players

Several key companies are leading the plant-based protein supplements market, including Axiom Foods, Glanbia plc, NOW Health Group Inc., MusclePharm Corporation, Ingredion Inc., Roquette Freres, DuPont, Archer-Daniels-Midland Co., Batory Foods, and The Scoular Company. These companies are actively investing in research and development to introduce innovative products and expand their market presence.

In December 2023, Relsus launched a new line of plant-based protein powders in India, focusing on sustainability and the use of non-GMO crops. The company's technology allows for consistent production, and they are partnering with local farmers to support agriculture in India. As the vegan population continues to grow, Relsus aims to position India as a leader in the plant-based protein market.

Leading Companies in Plant-Based Protein Supplements Market

Axiom foods
Glanbia plc
NOW Health Group Inc.
MusclePharm Corporation
Ingredion Inc.
Roquette Freres
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

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 Freres
  - 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