Pea Protein Dietary Supplement Market Forecast to 2027 - COVID-19 Impact
The Dietary Supplements Market report offers an in-depth analysis of the cost structure, market size, and PESTEL analysis which offers market outlook. Likewise, the Dietary Supplements Market report focuses on the major economies across the globe.
The COVID-19 pandemic has dramatically changed the dynamics of the Dietary Supplements Market. This market research report includes extensive data on the impacts of the market. The research analyst team of the firm has been monitoring the market during this coronavirus crisis and has been talking with the industry experts to finally publish a detailed analysis of the future scope of the Dietary Supplements Market. They have followed a robust research methodology and got involved in primary and secondary research to prepare the Dietary Supplements Market report.
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How has the global dietary supplements market changed since the onset of COVID-19?
The marketplace for dietary supplements before the COVID-19 pandemic was strong and growing globally. From 2014 to 2019, vitamins and dietary supplements saw a global compound annual growth rate of 3%, according to Euromonitor International, with growth strong in all regions. This solid, consistent trend was undercut slightly in 2019; not for structural reasons, but due to a one-time crackdown in China on direct sellers, the largest channel for vitamins and dietary supplements in that leading market. Despite this hiccup, the global marketplace entered 2020 primed for strong growth.
Opportunities for Market Participants:
As vitamins and minerals form active ingredients in food processing, dietary supplements, and chemical and cosmetic industries, there is a great demand for riboflavin across the world. Key developers and manufacturers are showing keen interest in riboflavin, as the global vitamin market is escalating. Hence, it can be deduced that, there would be greater market opportunities and higher returns for investors in the riboflavin market.
An outline of the regional analysis:
Geographically, the report segments the Pea Protein Powder market into North America, Europe, Asia-Pacific, Southeast Asia, Middle East and Africa, South America.
Contribution of each region to the overall market share, along with their growth rate forecast are mentioned in the report.
Total sales and revenue generated by each regional market are illustrated.
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Regional Insights
North America to Emerge as the Largest Regional Market; Asia Pacific to Register Phenomenal Growth
North America, whose market size in 2019 stood at USD 2.29 billion, is expected to dominate the plant based protein supplements market share during the forecast period. This is mainly attributable to the high awareness among consumers about the extensive environmental and health benefits of adopting a vegetarian diet regime. Similar trends will be observed in Europe, where countries such as the UK and France are swiftly pursuing vegan lifestyles.
Asia Pacific, on the other hand, is anticipated to showcase an excellent growth trajectory on account of increasing prevalence of lifestyle-related disorders, mainly diabetes and cardiovascular diseases. Besides this, rapid urbanization is making people more health-conscious and pushing them towards adopting diets comprising of fruits and vegetables and even vegan proteins.
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