Global Plant Based Protein Supplements Market Forecast to 2030 - COVID-19 Impact and Analysis 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 by Distribution Channel (Hypermarket/Supermarket, Specialty Store, and Online Store); and Geography
Plant Based Protein Supplements Market Overview
Protein supplements that are derived from different types of nutritional plant sources are called plant-based protein supplements. Soy, pea, chickpea, and brown rice are some of the key plant-based sources used as a prime ingredient for a plant-based protein supplement.
The market is mainly driven by the growing popularity of veganism. In addition, rising concerns regarding animal welfare have significantly contributed to the growth of the plant based protein supplements market. Moreover, increasing interest in food safety and better-for-you products is expected to drive market growth. Furthermore, the leading manufacturers are focused on investing in research of innovative protein sources to further boosting the growth of the plant based protein supplements market.
· Increasing Preference for Plant-based Diets
Growing concern about animal welfare and also environmental sustainability has been enforcing consumers towards adopting plant-based diets. In addition, the changing perception of consumers that plant-based proteins are safer & healthier compared to animal-originated products propels the plant based protein supplements market growth. Moreover, the increasing vegan population and growing preference for vegetarian diets have pushing leading manufactures to innovate novel sources of plant-based proteins. Furthermore, the rising prevalence of lactose intolerance and lactose allergies has also driving the growth of plant based protein supplements market. Also, growing interest in natural, organic, and clean-label products is projected to further fuel the growth of plant based protein supplements market during the forecast period 2021-2030.
· Robust Demand for Protein Supplements
The growing demand for protein supplements to improve health and wellness is significantly boosting the market growth of plant based protein supplements market. In addition, modern-day hectic lifestyles and busy schedules have surged the demand for instant sources of proteins. Thus, protein powder supplements are becoming very popular among fitness enthusiasts for muscle development due to their higher amino acid content, which is further propelling the plant based protein supplements market demand. Moreover, aggressive marketing and promotional activities by companies across fitness centers are expected to grow and to expand the sale of plant protein supplements market in the near future. These supplements are also widely popular among vegan-diet followers, which is expected to further boost the plant based protein supplements market growth.
COVID-19 Impact on Plant Based Protein Supplements Market
The COVID-19 pandemic has largely impacted globally since December 2019. According to the latest World Health Organization (WHO) report, the US, India, Russia, Brazil, Italy, France, Argentina, Spain, Colombia, the UK, and Mexico are some of the worst affected countries due to the COVID-19. The pandemic is hampering the growth of economies worldwide, and it is likely to continue in 2021. The outbreak of the covid-19 pandemic has both advantages and disadvantages in all the sectors. The outbreak disrupts various industries, such as manufacturing, construction, automotive, textiles, chemicals, cosmetics, tourism, hospitality, consumer goods, transportation, IT and telecom, pharmaceutical, and among others. This results in several obstacles in the supply chain of raw materials required for packaging, resulting in demand-supply gaps. This scenario is expected to a negative impact on the plant based protein supplements market.
With Corona Virus Disease 2019 (COVID-19) pandemic, the world is fighting against Covid-19 pandemic and also economic pandemic, almost impacting trillions of dollars of revenues. Our company brings a high-level insight as well as very deep insights relevant to several promising markets. The study will cover:
· Rapid shifts in top 100 companies across each sector
· Growth and decline in each sector due to COVID-19 pandemic
Plant Based Protein Supplements Market Strategy
Players operating in the plant based protein supplements market are mainly focusing on the adoption of various strategies to expand their footprint across the world and taking the initiative for the development of efficient and advanced products.
· In May 2019 - Canada's Burcon NutraScience Corporation launched new pea and canola protein blends. The firm also announced to enter into a joint venture to build a new commercial plant protein production facility.
· In January 2019 - Amazing Glass launched a new 'Amazing Protein Glow', an alternative to animal-derived collagen supplements.
The plant based protein supplements market report offers a complete overview of the industry including both qualitative and quantitative information. It offers a complete overview and forecast of the plant based protein supplements market based on various segments. It also offers market size and forecast estimation from the year 2018 to 2030 with respect to four major regions North America, Europe, Asia-Pacific (APAC), Latin America, Middle East and Africa (LAMEA). The plant based protein supplements market by each region is further sub-segmented across respective countries and segments. The plant based protein supplements market report covers a complete analysis and forecast across all regions along with the current trend and opportunities happening in the region.
The report analyzes aspects that are mainly affecting the plant based protein supplements market from both the demand and supply side and afterward estimates market dynamics affecting the plant based protein supplements market globally over the forecast period i.e., drivers, restraints, opportunities, and future trends. The plant based protein supplements market report also offers exhaustive PEST analysis for all four regions namely; North America, Europe, APAC, LAMEA after evaluating political, economic, social, and technological factors affecting the plant based protein supplements market in these regions. This information can help stakeholders to make appropriate decisions before investing. The plant based protein supplements market report also describes Porters five forces analysis which examines the five forces that make a company competitive while helping identify its strength and weakness. The plant based protein supplements market analysis will also identify competition, new entrants in the market, supplier power, buyer power, and threat of substitute products and services in the plant based protein supplements market.
Plant Based Protein Supplements Market Insights
The plant based protein supplements market study offers a complete overview of leading companies and their successful marketing strategies and market contribution, such as business overview, key financial information, SWOT analysis, NOISE analysis, improvement Venn diagram and strategies, such as recent developments, market expansion, partnership, merger & acquisitions, product launch, product update, and other contexts. By examining the data collected from primary and secondary methods, the plant based protein supplements market report offers actionable insights into future growth based on inputs from industry experts to help readers formulate effective strategies. The plant based protein supplements market report also covers the investment pocket analysis for various verticals with respect to the market.
Plant Based Protein Supplements Market Segmentation
Plant Based Protein Supplements Market by Product Type
· Pumpkin Seeds
Plant Based Protein Supplements Market by Form
· Protein Powder
· Protein Bar
Plant Based Protein Supplements Market by Application
· Sports Nutrition
· Supplement Nutrition
Plant Based Protein Supplements Market by Distribution Channel
· Specialty Store
· Online Store
Plant Based Protein Supplements Market by Geography
· North America
o Rest of Europe
· Asia-Pacific (APAC)
o South Korea
o Rest of APAC
o Latin America
o Middle East
1. Abbott Laboratories
2. AMCO Proteins
3. CytoSport, Inc.
4. Danone SA
5. Glanbia plc
6. IOVATE Health Sciences International, Inc.
7. Kerry Group
8. MusclePharm Corporation
9. NOW Foods
10. Nutiva Inc.
11. Nuzest Life Pty Ltd
12. Orgain Inc.
13. Quest Nutrition
14. The Nature's Bounty Co.
Brand awareness is the methodology by which customers are able to recall or recognize a brand (unaided/aided) under several different conditions with respect to plant based protein supplements market. These strategies will help the company to make people more aware of your brand especially by targeting relevant, high-quality audiences for plant based protein supplements market.
Key Questions Answered
· Several players are operating in the plant based protein supplements market globally. Do you know who is leading the overall plant based protein supplements market, and what strategies have been adopted by them?
· What are the upcoming trends in the plant based protein supplements market? What impact would these trends make in the coming years for the plant based protein supplements market?
Key Benefits for Stakeholders
· This study presents the analytical description of the plant based protein supplements market analysis along with the current trends and future estimations to describe coming up investment pockets
· The complete plant based protein supplements market opportunity is resolute by knowing profitable trends to gain a stronger foothold
· The report describes insights associated with key drivers, restraints, and opportunities of the plant based protein supplements market with thorough impact analysis
· The current plant based protein supplements market is quantitatively analyzed from 2018 to 2030 to focus on the monetary ability
· PEST analysis defines the potency of the consumers and suppliers in the plant based protein supplements market
· The Porters five forces analysis examines the five forces that makes a company competitive while helping identify its strength and weakness. The analysis will also identify competition, new entrants in the market, supplier power, buyer power, and threat of substitute products and services in the plant based protein supplements market
We also offer customized reports as per the requirement of clients to fulfill special requirements. We also provide regional and country reports as well.