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.

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 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 plant-based protein supplements are expected to create growth opportunities for this market. However, the preference for whey-based protein supplements and the growing preference for soy- and gluten-free products are factors expected to hinder the growth of this market.

Glanbia Plc

Founded in 1997 and headquartered in Kilkenny, Ireland, Glanbia Plc was formed through a merger between Avonmore Foods plc and Waterford Foods plc. The company is engaged in the research & development, innovation, manufacture, and marketing of nutritional solutions. The company operates through two business segments, namely Glanbia Nutritionals and Glanbia Performance Nutrition. The company’s Performance Nutrition segment has a portfolio focused on plant-based protein supplements and delivers nutritional and functional ingredient solutions and supplements for sports nutrition and lifestyle nutrition.

With production facilities in Ireland, the U.S., the U.K., Germany, and China, the company serves customers in more than 130 countries.

NOW Health Group, Inc.

Founded in 1968 and headquartered in Bloomingdale, U.S., NOW Health Group, Inc. is engaged in manufacturing and distributing dietary supplements, natural foods, sports nutrition, essential oils, beauty products, and personal care products. The company offers pea, soy, pumpkin, and rice-based protein supplements mainly for sports nutrition applications.

The company has its geographic presence in more than 60 countries. As of 2020, the company had more than 1,500 employees globally.

Nutiva Inc.

Founded in 1999 and headquartered in California, U.S., Nutiva Inc. is engaged in manufacturing organic food products, including protein shakes, coconut flour, and red palm oil. In the plant-based protein supplements space, the company offers hemp and coconut-based products for additional nutrition. The company has its geographic presence in North America.

The Simply Good Foods Company

Founded in 2010 and headquartered in Colorado, U.S., The Simply Good Foods Company is engaged in developing, manufacturing, and distributing nutrition bars, ready-to-drink shakes, sweet and salty snacks, and confectionery products. The company markets its products under the Atkins, Quest, SimplyProtein, and Atkins Endulge brand names. In the plant-based protein supplements space, Quest Nutrition provides plant-based protein bars for fitness enthusiasts.

The company has its geographic presence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. As of 2020, the company had a headcount of 300 employees globally.

Iovate Health Sciences International Inc.

Founded in 1995 and headquartered in Oakville, Canada, Iovate Health Sciences International Inc. is engaged in manufacturing health and nutrition supplements. The company distributes its products through retailers, health clubs, grocery shops, health food stores, and online channels. The company’s products are available nationwide at GNC, The Vitamin Shoppe, Bodybuilding.com, Walmart, Target, Walgreen’s, Sam’s Club, Amazon, and other retailers. The company offers plant-based protein supplements through its brand, Purely Inspired.

Iovate Health Sciences International Inc. serves customers in more than 140 countries worldwide. As of 2020, the company had a headcount of 385 employees globally.

A report into the projected growth of the current Plant-Based Protein Supplements Market by Meticulous Research® has produced some incredible forecasts for the industry. By 2027, it’s expected to have grown at a CAGR of 7.8%, reaching over $9.57 billion.

MusclePharm Corporation

Founded in 2006 and headquartered in California, U.S., MusclePharm Corporation is engaged in developing, manufacturing, marketing, and distributing branded nutritional supplements. The company offers a range of powders, capsules, tablets, and gels. The company operates through three business segments, namely Specialty; International; and Food, Drug, and Mass. The company’s portfolio of brands includes MusclePharm Sport Series, Essential Series, Natural Series, and FitMiss. The company targets fitness enthusiasts across the professional, combat sports, weight training, bodybuilding, and other active lifestyle activities categories. The company’s brands are marketed across various global retail distribution channels.

The company has its geographic presence in Europe, the Middle East, Asia, and South America. The company’s products are available at approximately 50,000 retail outlets globally.

Kerry Group Plc

Founded in 1972 and headquartered in Tralee, Ireland, Kerry Group Plc is engaged in the research & development, and manufacture of functional ingredients and actives for the food, beverage, and pharmaceutical industries. The company operates via two business segments, namely Taste and Nutrition and Consumer Foods. The company offers plant-based protein supplements through its Taste and Nutrition business segment. The company’s plant-based protein supplements are mainly for sports nutrition and weight management applications.

With 151 manufacturing locations in 32 countries, the company sells its products in more than 160 countries.

CytoSport, Inc.

Founded in 1998 and headquartered in California, U.S., CytoSport, Inc. operates as a subsidiary of Pepsico Inc. (U.S.) since April 2019. The company is engaged in manufacturing and distributing nutritional products for professional and amateur athletes. The company operates through two business segments, namely Food and Beverage. The company offers products such as protein powders, drinks, nutritional bars, and cereal products. The company sells its products under the brand names—Evolve, Muscle Milk, Monster Milk, and Cytomax. The company offers plant-based protein supplements for sports nutrition applications.

The company has its geographic presence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.

The Nature’s Bounty Co.

Founded in 1971 and headquartered in New York, U.S., The Nature’s Bounty Co. is engaged in manufacturing and marketing vitamins, dietary supplements, minerals, herbals, protein bars and powders, and ethical beauty products. The Nature’s Bounty Co. distributes its products through supermarkets, drug store chains, mass merchandisers, club stores, and health food stores under various brand names and also sells direct-to-consumer. In the plant-based protein supplements space, the company owns brands such as Pure Protein, Solgar, and American Health.

With manufacturing facilities in the U.S., the U.K., and Canada, the company has its geographic presence in North America, Europe, Asia-Pacific, Africa, Latin America, and the Middle East.

Reliance Vitamin Company, Inc.

Founded in 1978 and headquartered in New Jersey, U.S., Reliance Vitamin Company, Inc. is engaged in manufacturing and providing private-label nutritional supplements, such as vitamins, minerals, herbal extracts, antioxidants, plant-based protein, and meal replacement powders and beverages. The company offers plant-based protein supplements for sport nutrition.

The company has its geographic presence in North America. As of 2020, the company had a headcount of around 100 employees.

Popular Mentions: Herbalife Nutrition, Inc., Danone SA, GNC Holdings, Inc., Orgain Inc., and True Nutrition

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Authoritative Research on the Plant-Based Protein Supplements Market- Global Opportunity Analysis and Industry Forecast (2020-2027)

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  • Recent financial performance
  • Key products
  • Significant company strategies
  • Partnerships and acquisitions
  • The Impact of COVID-19 on the Plant-Based Protein Supplements Market

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