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

Plant Based Protein Supplements market size was valued at USD 2.5 billion in 2019 and is poised to grow from USD 2.72 billion in 2023 to USD 5.34 billion by 2031, growing at a CAGR of 8.8% in the forecast period (2024-2031).

The market's expansion can be attributed to consumers' growing awareness of the nutritional benefits of plant-based products, such as their low sodium and high amino acid content. Due to concerns about food safety, food allergies, moral considerations, and the growth of a vegan culture to eliminate animal cruelty, consumers' choices for plant-based protein supplements have changed.

The market is expanding as a result of the rising demand for ecologically sustainable proteins. Plant-based protein supplements for sports nutrition are expected to see an increase in demand as consumers become more aware of the connection between eating a healthy diet and exercising, as well as the rise in health problems brought on by busy schedules and the nature of work.

The U.S. emerged as the largest market in the North American region in 2019.The country's market is expanding because of the strong foothold of major manufacturers of plant-based protein supplements, growing concerns about weight management, and a growing emphasis on eating a healthy, vegan, and nutritious diet. Consumer awareness of the nutritional benefits of protein supplements has increased as a result of various awareness campaigns carried out by businesses, non-governmental organizations, and government agencies. This is expected to fuel market expansion.

US Plant Based Protein Supplements market is poised to grow at a sustainable CAGR for the next forecast year.