Plant-based Protein Supplements Market Size, Share, and Trends 2024 to 2033

Plant-based Protein Supplements Market Size and Growth 2024 to 2033

The global plant-based protein supplements market size was valued at USD 2.69 billion in 2023 and is anticipated to reach around USD 6.04 billion by 2033, growing at a CAGR of 8.42% from 2024 to 2033. These supplements help fight disease, live longer, and look and feel younger. They are also great sources of iron, fiber, and essential nutrients that help the plant-based protein supplements market grow.

Plant-based Protein Supplements Market Key Takeaways

• The North America plant-based protein supplements market size accounted for USD 1.24 billion in 2023 and is expected to attain around USD 2.81 billion by 2033, poised to grow at a CAGR of 8.52% between 2024 and 2033.
• North America dominated the market with the largest revenue share of 46% in 2023.
• Asia Pacific is projected to grow at the highest CAGR of 9.63% during the forecast period of 2024-2033.
• By raw material, the soy protein segment has held a major revenue share of 28% in 2023.
• By raw material, the pea protein segment is expected to grow at the fastest CAGR of 9.12% during the forecast period.
• By product, the protein powder segment dominated the market in 2023.
• By product, the protein bars segment is expected to expand at a solid CAGR of 9.21% during the forecast period.
• By distribution channel, the online stores segment dominated the market in 2023.
• By distribution channel, the supermarkets/hypermarkets segment is expected to grow rapidly in the forecast period.
• By application, the functional foods segment has held the largest revenue share of 53% in 2023.
• By application, the sports nutrition segment is expected to grow rapidly in the market during the forecast period.

U.S. Plant-based Protein Supplements Market Size and Growth 2024 to 2033

The U.S. plant-based protein supplements market size was estimated at USD 990 million in 2023 and is predicted to be worth around USD 2,260 million by 2033 with a CAGR of 8.60% from 2024 to 2033.

North America dominated the plant-based protein supplements market in 2023. Increasing technology in the market of plant-based protein supplements helps the growth of the market in the region. Well-known, established brand manufacturers of plant-based protein products are found in North American countries. The United States is one of the major suppliers of plant-based protein supplements. In Canada, natural health products are considered for muscle-building as supplements, and these are regulated under the Natural Health Products Regulations. Canadian Vegan Protein blend, which is made from plant-based ingredients, makes it vegetarian-friendly and vegan. Drink wholesome North American-made protein powder. These factors help the growth of the market in the region.

Asia Pacific is projected to grow at the highest CAGR in the plant-based protein supplements market during the forecast period of 2024-2033. In China, soy protein is a very popular plant-based protein supplement used after wheat gluten, pea, and rice. From many countries, India imports protein supplements. These factors help the growth of the plant-based protein supplement market in the region.

Asia Pacific Plant-based Protein Supplements Market Size and Growth 2024 to 2033

The Asia Pacific plant-based protein supplements market size was calculated at USD 560 million in 2023 and is projected to expand around USD 1,300 million by 2033, poised to grow at a CAGR of 8.78% from 2024 to 2033.

Plant-based Protein Supplements Market Overview

The plant-based protein supplement market deals with industries in which the manufacturing and distribution of plant-based protein supplements are a type of nutritional supplement made from plant-based components that are used for the growth and repair of human body tissues and cells. Plant-based protein supplements help fight disease, live longer, and feel and look younger. It helps to keep fuller longer. It is loaded with healthy fats, a great source of iron, and easily absorbed by the body.

Plant-based protein supplements are rich in carbohydrates, oligosaccharides, polyunsaturated fatty acids, fiber, essential nutrients, and less fat. They are naturally high in fiber and antioxidants and more nutrient-dense than dairy protein powder. They promote better gut health and digestion. Plant-based protein supplements are environmentally friendly and sustainable options compared to animal-based protein supplements. They are also lactose-free and vegan-friendly. These factors help the growth of the plant-based protein supplements market.

Plant-based Protein Supplements Market Growth Factors

• These plant-based protein supplements help to fight disease, live longer, look, keep fuller longer, and feel younger.
• These plant-based protein supplements are loaded with healthy fats and are great sources of iron, easily absorbed by the body, which helps the growth of the market.
• These types of supplements are rich in carbohydrates, oligosaccharides, polyunsaturated fatty acids, and fibers.
• It contains less fat, essential nutrients, and plenty of fiber. These are naturally high in fiber and more nutrient-dense than dairy protein powders.
• IT also contains less cholesterol and fat. These are environmentally friendly and sustainable options as compared to animal-based protein powder. These factors help to the growth of the plant-based protein supplements market.

Plant-based Protein Supplements Market Scope

Plant-based Protein Supplements Market Dynamics

Driver

Increased demand for vegetarian and vegan products

A rising number of people are adopting vegetarian and vegan products or diets because it is part of a wide-ranging lifestyle choice. These are more environmentally friendly and sustainable options. It leads to health benefits. These factors help to the growth of the plant-based protein supplements market. Plant-based diets are more acceptable due to their health benefits, and they are less hazardous to the environment than meat-based products or diets.

These types of products help to get the calories with the right numbers and focus on a variety of whole grains, fruits, and vegetables. It limits the intake of alcohol and processed foods. It also helps to avoid unhealthy added salt, sugar, and fats. It helps to engage with plenty of exercise and a healthy lifestyle. These factors help the growth of the market for vegetarian and vegan products.

Restraint

Side effects of plant-based protein supplements

Plant-based protein supplements have side effects that impact blood sugar levels, potential nutritional deficiencies, intolerance, and allergic reactions. In some cases, digestive issues can occur due to plant-based protein supplements made from protein isolates like peas, soy, rice, wheat pumpkin seed, and Spirulina may be rough on the stomach. You may have some bloat or gas problems. Plant-based protein supplements may be harmful when chemical contaminants like heavy metals, pesticides, or herbicides are used for crops. In some food products, fragments are used, which may be harmful. These factors can restrict the growth of the plant-based protein supplement market.

Opportunity

Rise in the adoption of plant-based protein supplements.

The adoption of plant-based protein supplements can be done by using some ingredients that will be helpful for the growth of the market in the future. These supplements require lower-cost production and easy access in many parts of the world. For a growing population, these plant-based protein supplements are the best option for protein. Increased urbanization, growing senior population, and rising incomes prefer to use protein in their diet. These factors help to the growth of the plant-based protein supplements market.

Raw Material Insights

The soy protein segment dominated the plant-based protein supplements market in 2023. Soy protein raw material type is an adaptable ingredient that is used in a high range of food products like meat substitutes, protein bars, and shakes. These are also generally found in infant formulas, which provide high-quality protein sources for growing babies. Soy proteins are plant-based protein products that are a great alternative to meat-based protein products or animal-derived sources of proteins. These factors help the growth of the soy protein raw material type segment and contribute to the growth of the market.

By raw material, the pea protein segment is expected to grow at the fastest rate in the plant-based protein supplements market during the forecast period. Pea proteins are plant-based protein supplements that contain digestible iron and amino acids. That helps to improve blood sugar, build muscle mass, control appetite, and other benefits related to metabolism. These pea proteins are good for men’s health and skin and improve heart and eye health. It also helps build immunity, digestion, and weight loss, and it is a good source of iron. These factors help the growth of the pea protein raw material type segment and contribute to the growth of the market.

Product Insights

The protein powder segment dominated the plant-based protein supplements market in 2023. Plant-based protein powders are a great source of healthy fats and iron and are easily absorbed by the body. It helps to keep the body strong, youthful, and healthy by keeping a strong immune system and helping to fight disease. Protein powder is free of harmful bacteria, antibiotics, and less saturated fat and is easy to digest. These protein powders help to support inflammatory response, healthy lipid levels, and blood sugar levels. These plant-based protein powders are rich in essential nutrients, fibers, and less fat. These help boost metabolism, keep fuller for longer, and regulate gut health. These factors help to the growth of the protein powder product type segment and contribute to the growth of the market.

The protein bars segment is expected to grow significantly during the forecast period. Protein bars are helpful in muscle gain and weight loss as a meal replacement. Protein bar's main benefit is the dosage and quality of the protein content. These factors help the growth of the protein bars product type segment and contribute to the growth of the market.

The ready-to-drink (RTD) segment is projected to grow at the fastest CAGR in the plant-based protein supplements market during the forecast period. Ready-to-drink product-type plant-based protein supplements are helpful in muscular deterioration prevention, loss of weight, increase of muscle, ability to keep a healthy weight, lowered blood pressure, stronger bones, and management of hunger levels. These ready-to-drink plant-based protein shakes are helpful to reduce the risks of illnesses like diabetes, cancer, heart disease, and strokes. These benefits of ready-to-drink product-type plant-based protein supplements help the growth of the segment and contribute to the growth of the market.

• In January 2024, ready-to-drink protein beverages, Suja Organic Protein Shakes, were launched by Suja Organic, the leader in organic, cold-pressed beverages.  It offers plant-based proteins including hemp, rice, and pea proteins, as well as transparent, convenient nutrition from plants. These are available in three varieties: Coffee Bean, Vanilla Cinnamon, and Chocolate.

Distribution Channel Insights

The online stores segment dominated the plant-based protein supplements market in 2023.  Advantages of the online store include digital alerts for the deals, easy access to helpful reviews and promotions, independence, full profit margin, instant payment facility by our bank account, cross-selling, up-selling, retargeting, SEO possibilities, direct interaction with the buyers, control over brand image, no crowds, easier brand comparison, product evaluations, more varieties, convenience, and better costs. These factors help the growth of the online store distribution channel type segment and contribute to the growth of the market.

The supermarkets/hypermarkets segment is expected to grow rapidly in the plant-based protein supplements market. Offline retail stores include supermarkets or hypermarkets, which have advantages such as instant purchase, sales assistance, touch, and examination. Supermarkets or hypermarkets are viable options for many businesses. To establish a personal touch or connection, these supermarkets or hypermarkets offer customers an opportunity. These factors help the growth of supermarkets or hypermarkets in the distribution channel type segment and contribute to the growth of the market.

Application Insights

The functional foods segment dominated the plant-based protein supplements market in 2023. Functional foods, also called nutraceuticals, are more nutritious and linked with many powerful health advantages. They can protect against diseases, improve proper development and growth, and reduce nutrient deficiencies. Functional foods may include oat products, garlic, etc. These functional food ingredients include organosulfur compounds, soluble fiber, and omega-3 fatty acids that may help to reduce heart disease, total or LDL cholesterol, and triglycerides. These factors help the growth of the functional food application type segment and contribute to the growth of the market.

The sports nutrition segment is expected to grow rapidly in the plant-based protein supplements market during the forecast period. Nutrition plays the main role in sports performance. For the athlete population, nutrition requirements are more important than those of the non-athlete population. By decreasing fatigue, athlete performance can be improved by using sports nutrition. To provide energy for activity and growth, the proper amount of fluids, macronutrients, and micronutrients must be provided. To improve performance, athletes need sports nutrition. These factors help the growth of sports nutrition application type and contribute to the growth of the market.

Plant-based Protein Supplements Market Recent Developments

• In June 2023, Synthite launched Protein, a plant-protein drink powder, and Just Plants, a plant-based dairy alternative, in JV, a food tech joint venture with the IISc (Indian Institute of Science) and a U.S.-based nutraceutical company, PMEDS.
• In September 2023, Natural India Pvt Ltd, the parent company behind Max Protein to reshape the landscape of nutrition and fitness in India, launched 2-revolutionary products: Max Protein Plant Protein and Max Protein Whey Protein.

Plant-based Protein Supplements Market Companies

• Abbott Laboratories
• AMCO Proteins
• Amway
• BENEO GmbH
• Danone S.A.
• Glanbia plc
• IOVATE Health Sciences International, Inc.
• Muscle Pharm Corporation
• NOW Foods
• Quest Nutrition
• Roquette Freres
• Sakara Life, In
• The Bountiful Company
• Transparent Labs
• Tiba Starch and Glucose Manufacturing Company
• WOODBOLT DISTRIBUTION LLC

Segments Covered in the Report

By Raw Material

• Soy
• Spirulina
• Pumpkin Seed
• Wheat
• Hemp
• Rice
• Pea
• Others

By Product 

• Protein Powder
• Protein Bars
• Ready-to-drink
• Others

By Distribution Channel

• Supermarkets or Hypermarkets
• Online Stores
• DTC
• Others

By Application

• Sports Nutrition
• Functional Food

By Geography

• North America
• Asia Pacific
• Europe
• Latin America
• Middle East & Africa