Plant-Based Protein Supplements Market

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Description

Plant-Based Protein Supplements Market was valued at US$ 3.25 Bn in 2017 and is expected to reach US$ 5.53 Bn by 2026, at a CAGR of 6.87% during a forecast period.

Global Plant-Based Protein Supplements Market

Based on raw material, soy segment is expected to propel the global plant-based protein supplements market in the forecast period. The increasing demand for vegan diet among the consumers across the globe, which is boosting demand for soy proteins. On the basis of form, protein isolate segment held the largest revenue share in the last decade as a growing preference for low-fat diet among population globally. In terms of application, food & beverages segment is projected to fuel the global plant-based protein supplements market growth as increased population coupled with a rising spending power of middle-class population across the globe. The increasing number of animal stock which is leading demand for the animal feed with essential nutrients, high protein content, and vitamins.

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The growing number of people who are adopting vegan lifestyles across the globe, which is boosting the global plant-based protein supplements market growth in a positive way. Global plant-based protein supplements market is witnessing vibrant growth as expanding the global vegan population. The rise in awareness regarding the health benefits of vegan diets among consumers globally is expected to propel the global plant-based protein supplements market growth during the forecast period. The millennials in the developed as well as developing economies are inclining toward vegan diets as they provide more fiber, antioxidants, and beneficial plant compounds, which are booming the global plant-based protein supplements market growth. Growing demand for these diets as they help in improving kidney function and lowering blood sugar levels.

The growing trend of hygienic diet among consumers is also fueling the market growth. Rising health consciousness among consumers across the globe is one of the key trends in the global plant-based protein supplements market, which is expected to surge the market growth. Increasing instances of obesity and other related diseases are making consumers health-conscious, which is boosting the consumption of products with low fat and calorie content. The growing popularity of premium brands of healthy products offering various functional benefits, which is another key trend in the global plant-based protein supplements market.

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