Sales of Plant-based Protein Supplements are Set to Reach USD1.96bn by 2034

According to the latest industry analysis conducted by Fact.MR, the global Plant-based Protein Supplement Market, valued at USD1.12bn in 2024, is anticipated to witness a steady growth trajectory with a projected Compound Annual Growth Rate (CAGR) of 5.7% from 2024 to 2034.

The increasing demand for plant-based protein supplements is primarily propelled by two key factors: the expanding global vegan population and heightened awareness regarding the health benefits offered by these nutritional dietary products.

Plant-based protein supplements are sourced from various ingredients such as soy, brown rice, peas, wheat, chickpeas, among others. Their popularity is attributed to their rich amino acid profile and low sodium content, which contribute to their growing sales.

Consumer preferences for plant-based protein supplements are influenced by several factors including ethical considerations related to animal-based protein sourcing, the rising incidence of food allergies, safety apprehensions, and the growing adoption of veganism as a stance against animal cruelty.

“Growing health consciousness amid rising prevalence of lactose intolerance are primary factors influencing sales of plant-based protein products. Demand for soy, rice, and almond proteins is rising as consumers shift toward healthy, cruelty-free food and supplement choices,” said the research company in a recent press release.