The global plant based protein supplements market size is likely to expand at an impressive CAGR of 7.48% due to an increasing demand for vegan sources of proteins. According to a report published by Fortune Business Insights, titled ‘Plant-based Protein Supplements Market Size, Share and Global Trend by Product Type (Soy Protein, Pea Protein, Wheat Protein), Distribution Channel (Mass Merchandisers, Pharmacies/Drugstores, Specialty Stores, Online Retail), and Geography Forecast till 2025,’ the market is likely to increase due to advancements made in deriving vegan sources of protein. According to the report, Fortune Business Insights has predicted the plant based protein supplements market to reach a valuation of US$ 7.38 Billion by the end of 2025. The increase from the 2017 market value of US$ 4.16 Billion, indicates a CAGR of 7.48% during the forecast period.
List of Best Companies Mentioned in Plant-based Protein Supplements Market Research Report:
DowDuPont Inc. (Danisco)
Kerry Group PLC
Acadian Seaplants Limited
Ocean Harvest Technology Limited
Dunkin Donuts to Tweak its Breakfast Options, Company says Emphasis is now on Healthy Plant Based Protein Alternatives
In May 2019, ‘Dunkins’, one of the leading food chains in the world, announced its intentions to include plant based protein alternatives in its breakfast. Although plant based proteins do not necessarily mean inclusion of low calorie food altogether, it involves exclusion of meat substances that are related to heart diseases. This has allowed to company to look into extended options and recent advancements in sources of plant based proteins are favoring the company. As Dunkin’s sales have a direct impact on the global plant based protein supplements market, such new concepts are likely to enable growth in the forecast period.
Momentous Launches Plant Based Nutrition, Overwhelming Product Feedback to Have a Massive Impact on Global Market
In 2018, Momentous announced the launch of its newest line of plant based protein nutrition. The company stated that the nutrition powder is derived from pure plant based sources and is rich in proteins, needed for supplemental growth. It is likely that the dairy based products used for protein intake may soon be replaced by plant based sources, altogether. Soon after its launch, the company received a huge response from athletes and related personnel worldwide. The rapid success of protein rich plant based powder is likely to have a positive impact on the global market and will enable growth in the global plant based protein
Canadian Government Announces $150 Mn Investment in Vegan Proteins, Shows Intentions to Promote Plant Based Proteins in the Foreseeable Future
In November 2018, the Canadian government invested a whopping $150 Mn towards developing vegan protein sources. The huge investments, will not only promote usage of plant based proteins, but is likely to create over 4000 jobs in the regional industry. Recent awareness regarding risks associated with dairy and meat sources of proteins towards heart diseases have triggered the demand for sustainable alternatives. It is likely that other countries will soon follow in the footsteps of Canada and researches are already underway in many countries across the world. Thus, the increasing demand for sustainable plant based protein alternatives have already encouraged many companies and government organizations worldwide and the same is likely to enable growth of the global Plant-based Protein Supplements Market in the forecast period.
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