The global
plant trends 2017
size
is predicted to reach USD 7.38 billion by 2025,
exhibiting
a CAGR of 7.46%
in the forecast period. The growing
improvements in vegan dietary patterns can be an essential factor augmenting
the growth of the market during the forecast period, states Fortune Business
Insights in a report, titled “Plant Based Protein Supplements Market Size,
Share and Industry Analysis By Type (Soy Protein, Pea Protein & Wheat
Protein), By Distribution Channel (Mass Merchandisers, Pharmacies/Drugstores,
Specialty Stores, Online Retail & Others), and Regional Forecast
2018-2025”
the market size stood at USD 4.16 billion in 2017.
Market Driver
:
Rising Sustainable Innovation to Favor
Growth
The growing demand for dairy
alternatives, meat alternatives, sports nutrition, and dietary snacks will have
a tremendous effect on the market during the forecast period. The and easy
availability of raw materials with superior nutritional value will subsequently
increase the production of plant-based protein supplements. The growing
consumer demand for dietary supplements will further aid the expansion of the
market during the forecast period. The growing sustainable innovation and
improvements in plant protein such as spirulina, pumpkin seeds, and hemp will
boost the market during the forecast period.
Mass Merchandisers to the Hold Lion’s
Share
The soy protein segment is expected to
dominate the market during the forecast period owing to its increased
utilization in a variety of dietary supplements. Mass merchandisers including
supermarkets and hypermarkets are likely to account for the maximum share in
the global market owing to its large distribution channels for plant-based
protein supplements. The rapidly growing online retail platforms and specialty
stores that customized solutions to enhance customer experience will further
create opportunities for the market in the forthcoming years.
Regional Analysis
:
Increasing Consumer Awareness to Aid
Development in North America
The market in North America and Europe
are expected to witness a high growth rate during the forecast period owing to
the rising consumer awareness regarding the ecological impact of animal-based
proteins. The increasing awareness regarding health benefits from plant-based
proteins will further spur the demand of the market. The growing shift towards
vegan and vegetarian supplements will further boost the market in North America.
The growing demand for healthy and nutritional products is expected to further
fuel the demand for plant-based protein supplements. The market in Asia Pacific
is expected to rise tremendously during the forecast period owing to the rising
demand for supplements based on vegan sources in China, India, and Indonesia.
Read More About Press Release:
https://www.fortunebusinessinsights.com/press-release/hot-sauce-market-9191