Market Size of $ 10.32 Billion Herbal Protein Supplements by 2028: Grand View Research, Inc. | New
SAN FRANCISCO, December 1, 2021 / PRNewswire / – The World vegetable protein supplements market size is expected to reach $ 10.32 billion by 2028, according to a new report from Grand View Research, Inc. It is expected increase at a CAGR of 8.6% from 2020 to 2028. Growing demand for personalized nutrition, inclination towards a vegan diet, and growing interest in plant-based nutrition are key factors fueling the growth of the market.
The soy protein raw material segment accounted for the largest share of revenue in 2020. Pea protein is expected to experience considerable growth during the forecast period. The growth is attributed to the increasing inclination of customers towards gluten-free ingredients in supplements, coupled with the presence of necessary amino acids in peas.
Main lessons and conclusions of the report:
- By raw material, the soybean segment dominated the market with a share of over 60.0% in 2020 due to the easy availability which makes the material profitable for the protein supplement manufacturers, as well as the high awareness of customers regarding the availability of all essential amino acids in soybeans
- Based on the distribution channel, the online stores segment is expected to experience the fastest growth during the forecast period. Easy access to a wide variety of brands, increasing internet penetration in developing countries and convenience of shopping are the main factors driving the growth of the segment
- The protein powder products segment dominated the market with a share of over 60.0% in 2020. The high adoption due to the ease of handling and transportation, cost efficiency and the competence to maintain the stability of the product. The ingredient through the formulation are factors that stimulate the growth of the segment.
- North America dominated the market with a revenue share of over 50.0% in 2020. The well-established presence of herbal supplement manufacturers, the economic policies favorable to the advancement of the dietary supplement industry and the steady demand for consumers for healthy and vegan products contribute to the growth of the market
- The growing awareness regarding herbal protein supplements due to growing concerns about cardiovascular disease associated with animal nutrition is triggering new investments from protein supplement manufacturers. Companies such as Glanbia plc and MusclePharm Corporation are investing in R&D for the development of new plant-based protein supplements to attract health-conscious consumers.
Read the 135-page market research report, “Plant Based Protein Supplements Market Size, Share and Trend Analysis Report by Raw Material (Soybean, Hemp), Product, Distribution Channel, Application, Region and Segment Forecast , 2020-2028“, by Grand View Research
The current snacking trend, combined with the preference for a high protein diet, is expected to drive demand for protein bars during the forecast period. A large number of players, including Quest Nutrition and Glanbia plc, offer protein bars in a variety of flavors through various mass retail channels, which in turn is propelling the growth of the market.
Sports nutrition applications segment dominated the market in 2020 due to the increasing demand for these supplements to improve performance and endurance and promote weight management and lean muscle mass growth. An increasing number of gym and fitness enthusiasts across the countries of the world are further expected to fuel the market demand during the forecast period.
Asia Pacific is expected to post the fastest CAGR from 2020 to 2028. Growing awareness of the benefits of dietary supplements, rising healthcare spending, growing number of households with high disposable income, and efforts by manufacturers to deliver personalized nutrition are the major factors increasing the growth regional market.
Grand View Research has segmented the global vegetable protein supplements market on the basis of raw material, product, distribution channel, application, and region:
- Herbal Protein Supplements Raw Material Outlook (Revenue, USD Million, 2017 – 2028)
- Pumpkin seed
- Herbal Protein Supplement Product Outlook (Revenue, USD Million, 2017 – 2028)
- Protein powder
- Protein Bars
- Ready to drink
- Herbal Protein Supplements Distribution Channel Outlook (Revenue, USD Million, 2017 – 2028)
- Supermarkets / Hypermarkets
- Online stores
- Pharmacy / Drugs
- Specialty stores
- Herbal Protein Supplements Application Outlook (Revenue, USD Million, 2017 – 2028)
- Sports nutrition
- Functional food
- Regional Outlook for Plant-Based Protein Supplements (Revenue, USD Million, 2017 – 2028)
- North America
- Asia Pacific
- Central & South America
- Middle East & Africa
List of major players in the Herbal Protein Supplements Market
- Glanbia plc
- AMCO proteins
- Nutrition Quest
- Foods NOW
- The generous company
- MusclePharm Corporation
- Abbott Laboratories
- IOVATE Health Sciences International, Inc.
- Transparent laboratories
- WOODBOLT DISTRIBUTION LLC.
Browse Grand View Research’s coverage of the Global nutraceuticals and functional foods industry:
- Protein Supplements Market – The global protein supplements market size has been estimated to be $ 18.91 billion in 2020 and is expected to grow at a CAGR of 8.4% from 2021 to 2028. The market is gaining momentum owing to the growing health awareness and the growing number of fitness centers around the world.
- Wheat Protein Market – The global wheat protein market size has been estimated to be $ 1.52 billion in 2015. Globally, increasing applications in the end-use industry and increasing consumer preference for meatless diets are expected to drive growth.
- Whey Protein Market – The global whey protein market size has been estimated to be $ 8.7 billion in 2019 and is expected to increase at a CAGR of 9.8% from 2020 to 2027. The increase in the incidence of chronic diseases due to changing lifestyles, especially among the Millennial population, is l ‘one of the main determining factors.
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About Grand View Research
Grand View Research, a United States-based market research and consulting company, provides syndicated and personalized research reports and consulting services. Checked in California and headquartered at San Francisco, the company has more than 425 analysts and consultants, adding more than 1,200 market research reports to its extensive database each year. These reports provide in-depth analysis of 46 industries in 25 major countries around the world. Using an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and assess upcoming opportunities.
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