04 September 2019
Visiongain has launched a new food & beverage report: Plant Based Protein Supplements Market Report 2019-2029 Forecasts by Product Type (Protein Powder, Protein Bars, Ready to Drink, Corn, and Others), by Raw Material (Rice, Pumpkin Seed, Soy, Pea, Hemp and others) by Distribution Channel (Direct to Customers (DTC), Online Stores, Super Direct to Customers (DTC)) PLUS Profiles of Leading Companies and Regional and Leading National Market Analysis
The global Plant Based Protein Supplements Market is anticipated to experience moderate growth over the forecast period. Growth in the Plant Based Protein Supplements market is primarily driven by increasing disposable income, changing lifestyle and consumer preferences. By product type, protein powder supplements are accounted for the major market share. However, protein bars sub-segment is projected to expand with the highest CAGR over 2019-2029 in the developing the region. Factors contributing to its growth include increasing consumption of protein among young individuals primarily athletes. Also, protein products offer several health benefits such as lowering cholesterol, the building of muscles, increasing strength, fighting cancer, improving immunity, and lowering blood pressure.
By Raw Material type, soy and pea protein sub-segment are identified as the most attractive sub-segment considering high growth rate. This is primarily due to an increase in the demand for vegan based protein products and the demand for high protein ingredients in bodybuilding and sports industries. Supermarkets and stores are still contributing to the major revenue share in the global market. This is primarily due to consumers lacking trust over online distribution with regards to the quality of the product.
Major companies operating in the global Plant Based Protein Supplements market are Glanbia Plc., AMCO Proteins, Quest Nutrition, NOW Foods, NBTY, Inc., MusclePharm Corporation, Abbot Laboratories, Cyto Sport Inc., Iovate Health Sciences International Inc., Transparent Labs
JYM Supplement Science, RSP Nutrition, Nutrabolt, Dymatize Enterprises LLC, and BPI Sports, LLC.
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