NEW YORK, March 25, 2022 /PRNewswire/ — According to recent analysis by Persistence Market Research, the herbal protein supplements market should extend to a CAGR value of 5.6% during the forecast period of 2022 to 2032.
Veganism is a growing trend in established markets such as North America and Europe. In these regions, an increasing number of people are adopting vegan diets and buying only plant-based products. Emergence South Asia and the Pacific market is also seeing the upward trend in plant-based diets. Plant-based protein supplements are ideal for vegans and therefore the growing popularity of vegan diets should benefit plant-based protein supplement manufacturers around the world.
The working population prefers meals in the form of convenient snacks that can accommodate their busy lifestyles and busy work schedules. Supplements are becoming more and more healthy, satisfying and nutritious and have become part of daily routines. Bowls have become smart mediums for mixing and matching flavors and textures, which are provided by adding plant-based ingredients. In order to meet the daily nutritional needs of the body, many consumers tend to opt for vegetable protein supplements and demand products fortified with vegetable protein supplements.
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Key insights from market research
- Value of Herbal Protein Supplements Worldwide market should reach 1.77 billion by the end of 2032.
- Mature markets of Europe and North America dominate the global herbal protein supplement market, together accounting for a market share of over 65% in 2022.
- In East Asiain 2021, China tenuous the largest 77% market share, monitoring by Japan and South Korea.
- the South Asia & Pacific market should extend to CAGR of highest value of 8.6% for the forecast period, attributable to increased spending on health supplements.
- With the emergence of COVID-19, sales of herbal consumables have increased dramatically and growing awareness of the benefits of consuming concentrated nutrients daily has increased the demand for supplements.
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“With growing health and nutrition awareness, more and more people are opting for plant-based products, leading to an increase in the popularity of plant-based protein supplements,” says an analyst from Persistence Market Research.
The companies focus on the production of plant-based protein supplements. Additionally, the need for own-brand additives in food products is driving an increase in the use of plant-based protein supplements in foods. Supplement makers are also focused on increasing their geographic presence and reaching more customers through innovative offerings.
- MusclePharm Corporation organizes and participates in various physical training programs and promotional events inside and outside the United States to promote its products, and uses professional media support and publicity services to increase its reach to a greater number of consumers.
- Glanbia Plc strives to grow through organic investment programs, acquisitions and partnerships with complementary businesses. It also has geographically diversified operations. In addition to his country of origin Ireland, the group operates in the United Kingdom, the United States and other countries. Its products are sold in more than 130 countries around the world.
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Explore more valuable insights
Persistence Market Research in its new report offers an unbiased analysis of the global Plant Protein Supplements Market, presenting historical data (2017-2021) and estimation statistics for the forecast period 2022-2032.
The study offers compelling insights based on product type (soy protein, wheat protein, pea protein and others) and sales channel (hypermarkets/supermarkets, specialty stores, pharmacies and drugstores and online retail ), in six major regions of the world .
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