Plant Based Protein Supplements market Size, Share, Growth Analysis, By Product(Supermarkets/Hypermarkets, Online Stores, Chemist/Drugstores, Specialty Stores), By Form( Sports Nutrition, Functional Food), By Region - Industry Forecast 2024-2031

North America held the largest share of the global plant based protein supplements market in 2021 with a share of over 50%. Due to the high demand for sports nutritional supplements in countries like the United States and Canada, Additionally, the market growth is anticipated to be fueled by the strong foothold of major market players and the straightforward availability of raw materials. Merit Functional Foods, a Canadian company that produces plant-based proteins, received a proposal from the Canadian federal government to receive approximately USD 74 million in funding. During the COVID-19 pandemic, the goal of this initiative was to meet the increased demand for plant-based protein supplements and expand their use in the country.

Europe emerged as the second-largest regional market as a result of a number of factors, including the growing emphasis on healthy living, the growing trend toward preventive health care, and the rising demand for plant protein supplements from countries like the United Kingdom and Germany due to the growing vegan population.

As consumers in developing countries of the Asia-Pacific region become more health-conscious, supplement consumption has increased. The consumption of dietary supplements has skyrocketed in nations like India, China, and Indonesia, which will help the market expand over the forecast period. Plant-based supplements are anticipated to see significant growth in popularity as a result of the expanding purchasing power of consumers and the increased availability of various brands in these nations. Supplement sales on the internet are also increasing, which contributes to the Asia-Pacific market's expansion.