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.

To get more information like above , stay tuned at baking show in Bakery China.

Bakery China, organized by China Association of Bakery and Confectionery Industry (CABCI) and Bakery China Exhibitions Co., Ltd. was launched since 1997. Bakery China is the Asia Pacific's leading event serving the entire value chain for the bakery and confectionery market. The event presents all range of ingredient, equipment, packaging and services, and enables global leading professionals and buyer delegates to meet and share the latest innovations and thinking on manufacturing & distribution, R&D, applications and related services for bakery industry.It is the first choice trade fair to enter China's bakery market.

The 26th Bakery China will be held on May 21-24,2024 at National Exhibition and Convention Center (NECC), Shanghai, covering 320,000 sqm show space. Over 2,200 exhibitors and 400,000 visits are expected.

(source:World Bakers)