Plant-Based Protein Powders Market Size, Share, Growth, and Industry Analysis, By Type (Soy Protein, Rice Protein, Pea Protein, & Others), By Downstream Industry (Adults, Children, Aged) and Regional Forecast to 2032

Updated On: 02 September 2024

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PLANT-BASED PROTEIN POWDERS MARKET REPORT OVERVIEW

The global Plant-Based Protein Powders Market size was USD 4.67 billion in 2023 and the market is projected to touch USD 8.7 billion by 2032, exhibiting a CAGR of 6.53% during the forecast period.

One can notice a boom in the Plant-Based Protein Powders Market driven by an exploitable resource from growing attention toward health and well-being and a growing preference toward vegan and vegetarian diets. Furthermore, consumers are attracted to plant-based protein powders as a healthful, sustainable alternative source of proteins instead of animal-based ones. These powders, derived from pea, soy, hemp, and rice proteins, cater to diversified dietary options and desires. Improvement in meal processing technology that has taken a step ahead regarding taste, texture, and nutritional profiles of plant-based protein merchandise fuels the market's growth as well.

The COVID-19 pandemic concretized this combined effect in the marketplace. On the incredible side, the pandemic only dispensed health popularity further by ending calls for immune-boosting and nutritious products, extending the shift in online shopping, and reaping the rewards from the e-commerce income of plant-based and complete protein powders. Conversely, it introduced delivery chain disruptions, monetary uncertainty, and distribution challenges that hinder the market increase. Though highly competitive, North America's marketplace continues to grow due to high buyer awareness and the volume of primary marketplace participants. The critical enterprise players drive the marketplace through research and development investments and new product launches to adapt to changing customer preferences.

COVID-19 Impact: Market Growth Restrained by Pandemic due to Distribution Challenges

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

Restrictions on movement and logistics disruptions hindered the green distribution of products, affecting marketplace increase. The pandemic brought about vast disruptions in global delivery chains, affecting the delivery of raw materials and leading to production delays. Economic instability and process losses reduced patron spending on electricity, impacting the acquisition of non-important health dietary supplements.

The COVID-19 pandemic heightened patron popularity of health and well-being, riding the name for nutritious and immune-boosting products combined with plant-based total protein powders. Lockdowns and social distancing measures prompted a surge in online shopping, reaping the rewards from the income of plant-based protein powders via e-trade platforms.

LATEST TRENDS

"Sustainability in Protein Powders to Drive Market Growth"

Consumers are becoming increasingly aware of the environmental effects of food manufacturing. This consists of issues about land use, water usage, and deforestation related to conventional protein sources like animal agriculture. Plant-primarily based protein powder producers respond by sourcing components like peas, rice, or hemp from farms that appoint sustainable practices. This could include using renewable strength resources, water conservation techniques, and minimizing waste throughout manufacturing. The focal point on sustainability and clean labels displays a broader client fashion toward aware consumption. Plant-primarily based protein powder manufacturers prioritizing these aspects are appropriately located to capture market percentage and cater to the developing demand for wholesome and environmentally pleasant protein assets.

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PLANT-BASED PROTEIN POWDERS MARKET SEGMENTATION

By Type

Based on type the global market can be categorized into Soy Protein, Rice Protein, Pea Protein, & Others.

• Soy Protein: A famous plant-based total protein regarded for its complete amino acid profile and flexibility in numerous meal packages.
• Rice Protein: A hypoallergenic protein is a fordable alternative in digestibility and usability for restricted diets.
• Pea Protein: This will act as a relatively easily digestible source of all nine essential amino acids and thus often used in vegan and vegetarian products.
• Others: Packed with plant-based proteins, including hemp, pumpkin seed, and chia, each one offering precisely nutritional blessings and valuable properties.

By Downstream Industry

Based on downstream industry the global market can be categorized into Adults, Children, Aged.

• Adults: The primary customers of plant-based total protein powders, frequently used for muscle healing, weight control, and average fitness.
• Children: Emerging marketplace section wherein plant-primarily based protein powders are used as dietary supplements to guide boom and improvement.
• Aged: Increasingly turning to plant-based total protein powders to preserve muscle tissues, assist joint fitness, and meet nutritional wishes in later life.

DRIVING FACTORS

"Health Trends and Environmental Concerns to Boost the Market"

One of the key driving factors in the global Plant-Based Protein Powders Market growth is the health trends and environmental concerns in urban areas. Growing attention to the health benefits of plant-based diets spurs interest in plant-based protein powders that are healthier than animal-based proteins. Increased environmental awareness and the need to reduce carbon footprints drive consumers toward sustainable plant-based protein sources.

"Dietary Preferences and Technological Advancements to Expand the Market"

Another driving factor in the global Plant-Based Protein Powders Market is the dietary preferences and technological advancements offered by these products. The upward push of veganism, vegetarianism, and flexitarian diets boosts the demand for plant-primarily based protein powders, catering to a various consumer base. Food processing and protein extraction technology innovations enhance plant-based total protein powders' pleasant flavor and nutritional profile. With the growing popularity of fitness and bodybuilding developments, a few more youthful populaces increase the consumption of protein supplements and plant-primarily based alternatives.

RESTRAINING FACTOR

"Teate Issues and Price Sensitivity to Potentially Impede Market Growth"

One of the key restraining factors in the global Plant-Based Protein Powders Market is the taste issue and price sensitivity of these products. Some customers find the flavor and texture of plant-based total protein powders less appealing than animal-based total proteins, limiting their adoption. Plant-primarily based protein powders are regularly priced better than their animal-based counterparts, making them much less available to charge-sensitive consumers.

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PLANT-BASED PROTEIN POWDERS MARKET REGIONAL INSIGHTS

The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa.

"North America Dominate the Market due to Presence of a Large Consumer Base"

North America has emerged as the most dominant region in the global Plant-Based Protein Powders Market share due to several factors. The fundamental shareholder region for the Plant-Based Protein Powders Market is North America, driven by high patron awareness of fitness and well-being tendencies, a substantial vegan and vegetarian population, and the sturdy presence of prominent market players.

KEY INDUSTRY PLAYERS

"Key Industry Players Shaping the Market through Innovation and Market Expansion"

Key enterprise players are critical in using market dynamics and shaping patron choices in the Plant-Based Protein Powders Marketplace. These groups leverage great distribution networks and online systems, providing clients with a smooth right of entry to a wide variety of plant-primarily based protein merchandise. Their sturdy international presence and brand popularity contribute to extended customer trust and loyalty using product adoption. Moreover, those enterprise leaders constantly put money into studies and development, introducing revolutionary formulations, flavors, and packaging answers to meet evolving client needs and possibilities. The collective efforts of those significant players considerably affect the competitive landscape and future trajectory of the market.

List of Market Players Profiled

• Optimum Nutrition (U.S.)
• AMCO Proteins (U.S.)
• By-Health (China)
• Transparent Labs (U.S.)
• Makers Nutrition (U.S.)
• Amway (U.S.)
• Muscletech (Canada)

INDUSTRIAL DEVELOPMENT

June 2024: Ingredion Inc. (US) Unveils Upcycled Chickpea Protein Powder:  Ingredion, a leading components supplier, added a new protein powder crafted from upcycled chickpea flour. This development addresses sustainability worries by utilizing food waste streams to create a super protein supply.

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.