REDDING, Calif., May 13, 2021 /PRNewswire/ — According to a new market research report “Plant-Based Protein Supplements Market by Type (Soy Protein, Rice Protein), Form (Powder, RTD), Application (Sports Nutrition, Additional Nutrition), and Distribution Channel (Hypermarket/Supermarket, E-Commerce, Pharmacies) – Global Forecast To 2027″, published by Meticulous Research®, the plant-based protein supplements market is expected to reach $9.57 billion by 2027, at a CAGR of 7.8% during the forecast period of 2020 to 2027.
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The retail sales of plant-based food and beverage products have significantly outpaced overall grocery sales in recent years. The growing market for plant-based foods, along with the rising demand for protein supplements, has caused a surge in demand for plant-based protein supplements. Plant-based proteins are essential macronutrients that help maintain muscle and bone health and strengthen the immune system. The growth of the overall plant-based protein supplements market is mainly attributed to the consumers’ rising interest in plant-based nutrition, a positive outlook towards the sports and health nutrition industries, increasing inclination towards the vegan diet, and increasing demand for personalized nutrition. Moreover, emerging economies in Asia-Pacific, Latin America, and the Middle East & Africa and the increased new product launches of…
