Registering a CAGR of 7.7% over the forecast period of 2022-2027, the global Plant-based Protein Powders market is anticipated to reach the market value of US$ 16.2 billion in the year 2027 from US$ 10.6 million in the year 2021.
The high growth of the Plant-based Protein Powders market is mainly attributed to rising interest in plant-based nutrition, positive outlook towards sports and health nutrition industry, increasing inclination towards a vegan diet, and increasing demand for personalized nutrition.Plant based protein products have attracted the spotlight with numerous brands launching offerings suited for food service and retail distribution. The growth in the global population of vegans and vegetarians also has made Plant-based Protein Powders viable for commercialization. Even people who eat meat or dairy products are showing willingness to adopt plant-based protein kits.
Over the next few years, there is likely to be major growth in consumer preference for organic food items. Protein manufacturers and suppliers are tailoring their product offerings to meet this customer demand. Due to high-profit margins and rising desire for natural and plant-based products, more companies are joining the organic protein sector.The report aspects discussed the profile of the top manufacturers of the global Plant-based Protein Powders market. These aspects include the financial status of major companies, trending advancements and the entire market scenario. Growth of the report has examined Plant-based Protein Powders Market production, demand and growth potential, geographic analysis, as well as current market developments in various regions and countries.
The global Plant-based Protein Powders include the identification and analysis of the various market participants competing in the global market. Prominent competitors include ADM, Cargill, DuPont, Kerry Group, Manildra, Roquette, Tereos, Axiom Foods, Cosucra, CHS, Glanbia Nutritionals, Glico Nutrition, Gushen Group, and Others.
Industry News:
ADM Completes Acquisition of Sojaprotein, Strengthening Plant Based-Protein Capabilities
November 29, 2021: ADM (NYSE: ADM), a global leader in nutrition and agricultural origination and processing, announced that it has completed its acquisition of Sojaprotein, a leading European provider of non-GMO soy ingredients. The addition represents a significant expansion of ADM’s global alternative protein capabilities and its ability to meet growing demand for plant-based foods and beverages.
By Type, it is segmented into
Soy protein dominated the market with a share of over 60.5% in 2021.
By Application, it is segmented into
North America was the largest regional market in 2021 with a share of over 51.5% owing to the high demand for Plant-based Protein Powders in countries such as Canada and the U.S. In addition, a strong foothold of major market players, coupled with the easy availability of raw materials, is expected to fuel the market growth.North America, led by the United States is the dominant market for Plant-based Protein Powders. Higher awareness about veganism and an expanding population of vegetarians, coupled with dedicated promotional campaigns for television and social media is propelling the market through 2027.Also, the growing concern in the US in terms of obesity and weight management, and consumer demands to better manage hectic lifestyles have created a conducive environment for Plant-based Protein Powders sales. Also, investments into research for sports nutrition, and demand from athletes and the health and wellness sector bolsters overall demand.
The Plant-based Protein Powders Market describes the factors driving the global growth opportunities in upcoming years and highlights market channels. In addition, the report analyzes market size and share, trends, by geographic region, end-use type, and segment. It focuses extensively on revealing a detailed regional analysis. The Global Plant-based Protein Powders Market report also conducted a PESTEL analysis of the industry to study the main influencing factors and entry barriers of the industry.
Report Attributes | Report Details |
Forecast Period 2022 to 2027 CAGR | CAGR of 7.7% during the review period (2022 to 2027). |
By Type |
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By Application |
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By Companies | ADM, Cargill, DuPont, Kerry Group, Manildra, Roquette, Tereos, Axiom Foods, Cosucra, CHS, Glanbia Nutritionals, Glico Nutrition, Gushen Group, and Others. |
Regions Covered |
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Countries Covered |
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Base Year | 2022 |
Historical Year | 2017 to 2021 |
Forecast Year | 2022 to 2027 |
Number of Pages | 160 |
Customization Available | Yes, the report can be customized as per your needs |
What is the study period of this market?
The Plant-based Protein Powders Market is studied from 2017 - 2027.
What is the growth rate of Plant-based Protein Powders Market?
The Plant-based Protein Powders Market is growing at a CAGR of 7.7% over the next 5 years.
Who are the leading key players in Plant-based Protein Powders Market?
ADM, Cargill, DuPont, Kerry Group, Manildra, Roquette, Tereos, Axiom Foods, Cosucra, CHS, Glanbia Nutritionals, Glico Nutrition, Gushen Group, and Others.
What regions regions does this Plant-based Protein Powders Market report covers?
North America (the United States, Canada, and Mexico)
Europe (Germany, France, UK, Russia, and Italy)
Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
South America (Brazil, Argentina, Colombia, etc.)
The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)
What are the significant types of Plant-based Protein Powders Market?
Soy Protein, Wheat Protein, Pea Protein, Others
What are the significant Applications of Plant-based Protein Powders Market?
Food & Beverages, Pharmaceuticals & Personal Care, Animal Feed, Others
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SECONDARY RESEARCH
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
PRIMARY RESEARCH
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
MARKET ENGINEERING
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
EXPERT VALIDATION
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.
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