Global Plant-based Protein Market Forecasts, 2020-2025 – Rising Demand for Plant-Based Products in Sports Nutrition is a Key Opportunity – PRNewswire

DUBLIN, Dec. 19, 2019 /PRNewswire/ -- The "Plant-based Protein Market - Global Outlook and Forecast 2020-2025" report has been added to ResearchAndMarkets.com's offering.

The Global Plant-Based Protein Market is Expected to Grow at a CAGR of Over 8% During the Forecast Period 2019-2025.

Key Market Insights

The growing health consciousness trend among people is expected to influence the global plant-based protein market. Millennial, especially, is highly interested in pursuing a healthy lifestyle. Therefore, they are one of the major consumers of healthy products, including plant-based variants. Consumers are increasingly adopting these products as they offer the same taste, flavor, and nutritional value as natural sources provide. Hence, a gradual shift of consumers from animal-based products to vegan products is likely to boost the market.

The rise of the vegan population is another key factor encouraging the growth of the market. Vegan diets contain antioxidants, fiber, and beneficial plant compounds. They are also rich in folate, potassium, magnesium, and vitamins A, C, and E. The vegan population is, thus, increasing due to the growing awareness of the benefits of vegan diets in lowering heart and other lifestyle-related diseases. Several sports professionals and athletes are adopting vegan diets, which are breaking the myth related to plant-based proteins.

Market Dynamics

Growth Enablers

Growth Restraints

Opportunities and Trends

Market Segmentation

This research report includes detailed segmentation by products, source, application, and geography.

Protein powder supplements are one of the effective ways to bolster the protein content. Several plant-based supplements contain 15-30 grams of protein that is equivalent to whey supplements. An increase in lactose intolerance, the growing awareness of plant-based cheese products, and the growth in the vegan population are propelling the growth of the plant-based protein powder market.

The demand for protein bars is not only growing among athletes, however, but the majority of the population also consumes them as an energy-boosting quick meal. The rise in the number of fitness clubs and weight management programs is boosting demand and is expected to grow significantly during the forecast period. Ready-to-drink (RTD) is popular among health-conscious people and millennials. The fast-paced and busy lifestyle is the primary factor accelerating the growth of RTD. However, the demand can also be contributed to the fact that these beverages can replace meals and take less time in consumption.

Soy-based protein is considered to be a complete diet as it contains essential amino acids that play an important role in muscle building and can be a useful supplement for weight loss. The rapidly growing vegan population in countries such as the UK and Portugal is driving the demand for soy nutrients. China, India, Japan, and South Korea are expected to support the growing demand with rising health awareness.

The sports nutrition segment dominates the market. The hike in demand for protein bars, energy drinks, and other supplements among athletes, fitness enthusiasts, and bodybuilders is driving the demand. The growing number of endorsements for plant-based products is likely to propel growth.

The additional nutrition segment is expected to accelerate its share due to the increasing awareness of additional nutritional supplements among consumers for maintaining a healthy diet. Driven by rising disposable income, increased urbanization, growing aging population, coupled with increasing health awareness, the demand for such supplements is increasing across the world.

Insights by Geography

In North America, consumers are adopting plant-based food diets on account of their health benefits and high nutritional values, and the trend is likely to increase during the forecast period. The US plant-based protein market is expected to grow as 39% of the consumers in the country are actively seeking vegan products in their diets. In Europe, the increasing preference for plant-based products is increasing because these supplements help in weight management and aid in reducing the risk of chronic diseases. The increased focus on animal safety and well-being are driving the demand for plant-based meat products. Similarly, APAC is a key region in driving the growth on account of the surge in the population, increased high disposable income, and high adoption of vegetarian diets.

With the growing urbanization, changing lifestyles, dietary changes, and rapidly expanding retail chains, the demand for vegan products in Latin America is expected to rise during the forecast period. The rising health awareness in Latin America is expected to drive the market for alternative non-dairy milk products as these products contain low-levels of lactose and saturated fat. In the MEA region, the growing health-conscious population is primarily driving the growth. Another major factor is the high prevalence of lactose intolerance among people, which is also encouraging consumers toward the consumption of lactose-free products.

Insights by Vendors

The global plant-based protein market is fragmented in nature, and vendors are competing based on product quality, new products, and competitive pricing. R&D teams need to continuously analyze trends and design, develop, and manufacture new product categories with distinctive features, size, taste, and shelf life. The competition is expected to intensify further during the forecast period with an increase in product innovations, milk production, technological innovations, and mergers and acquisitions. Moreover, the improving global economic conditions are likely to fuel the growth, thereby increasing attractiveness for new products launches.

Key Topics Covered

1 Research Methodology

2 Research Objectives

3 Research Process

4 Scope & Coverage4.1 Market Definition4.2 Base Year4.3 Scope of the Study4.4 Market Segments4.4.1 Market Segmentation by Products4.4.2 Market Segmentation by Source4.4.3 Market Segmentation by Application4.4.4 Market Segmentation by Geography

5 Report Assumptions & Caveats5.1 Key Caveats5.2 Currency Conversion5.3 Market Derivation

6 Market at a Glance

7 Introduction7.1 Overview7.2 Why Shift from Animal-based Diet?7.3 The Future of Protein Market

8 Market Dynamics8.1 Market Growth Enablers8.2 Market Growth Restraints8.3 Market Opportunities & Trends

9 Global Plant-Based Protein Market9.1 Market Overview9.2 Market Size & Forecast9.3 Five Forces Analysis

10 By Product Type10.1 Market Snapshot & Growth Engine10.2 Market Overview10.3 Powder Supplements10.4 Bar10.5 RTD10.6 Others

11 By Source11.1 Market Snapshot & Growth Engine11.2 Market Overview11.3 Soy11.4 Pea11.5 Rice11.6 Others

12 By Application12.1 Market Snapshot & Growth Engine12.2 Market Overview12.3 Sports Nutrition12.4 Additional Nutrition

13 By Distribution13.1 Market Overview

14 By Geography14.1 Market Snapshot & Growth Engine14.2 Overview

15 North America

16 Europe

17 APAC

18 Latin America

19 Middle East & Africa

20 Competitive Landscape20.1 Competition Overview20.2 Market Strategy, Promotion & Development20.2.1 Brand Image20.2.2 Online Presence20.2.3 Innovative Marketing Strategies

21 Key Company Profiles21.1 Glanbia Nutritionals21.1.1 Business Overview21.1.2 Major Product Offerings21.1.3 Key Strengths21.1.4 Key Strategies21.1.5 Key Opportunities21.2 Danone

22 Other Prominent Vendors22.1 Tone it Up22.1.1 Business Overview22.1.2 Major Product Offerings22.2 Orgain22.3 KOS22.4 Garden of Life22.5 Your Super22.6 Nuzest22.7 No Cow22.8 Kind22.9 GoMacro22.10 SimplyProtein22.11 Naked Nutrition22.12 Bulk Supplement22.13 PlantFusion22.14 Growing Naturals22.15 Sunwarrior

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Global Plant-based Protein Market Forecasts, 2020-2025 - Rising Demand for Plant-Based Products in Sports Nutrition is a Key Opportunity - PRNewswire