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Vegan Protein Powder Market Size By Product (Hemp protein, Soy protein isolate, Soy protein concentrate, Rice protein isolate, Rice protein concentrate, Pea protein isolate, Others), By Nature, Flavor, Distribution Channel & Forecast, 2023 - 2032

  • Report ID: GMI5524
  • Published Date: Mar 2023
  • Report Format: PDF

Vegan Protein Powder Market Size

Vegan Protein Powder Market size valued at USD 4 billion in 2022 and is anticipated to exhibit over 7.5% CAGR from 2023 to 2032.

 

Vegan Protein Powder Market

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The global market for protein powder is set to surpass USD 41.7 billion by 2032. The rapidly expanding vegan population worldwide and the consequently rising inclination to plant-based food & beverages will anchor the market demand. According to Vegetarian Times, about one million Americans are vegan. Of late, the growing awareness regarding the potential health and environmental advantages of plant-based foods has led to rapid strides in their production process. The fast-food restaurant industry is thus witnessing the introduction of vegan foods/beverages, ranging from plant-based burgers to dairy. The growing burden of lifestyle disorders has also shifted the attention of consumers towards the maintenance of healthy lifestyles and food habits.
 

Rising costs associated with production to impede product demand

The escalating production costs of vegan protein powder will negatively influence the industry outlook to some extent. In comparison to their traditional counterparts, such as milk-based products, plant-based protein powders are more expensive as they are difficult to harvest. Varieties, including pea protein and hemp protein constitute ingredients that go through extra processing to be useful sources of vegan protein.
 

Vegan Protein Powder Market Analysis

Vegan Protein Powder Market Size By Product

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Based on product, the vegan protein powder market share from pea protein concentrate segment is poised to reach USD 2 billion by 2032. Pea protein concentrates assist in reinforcing muscle growth and heart health whilst facilitating weight loss. Considering their high-quality protein and iron content, they are increasingly favoured for their varied health benefits as well as nutritional value. The growing preference for pea protein powders for meal replacement to offer additional calories and good source of nutrition will augment the industry demand.
  

 

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

The vegan protein powder market size reached USD 4 billion in 2022 and is poised to grow at 7.5% CAGR from 2023 to 2032, due to the robust developments in sports nutrition.
Organic vegan protein powder industry valuation will reach USD 5.9 billion by 2032, owing to the rising focus on improving gut health.
The industry size for vegan protein powder in Europe will record more than 8% CAGR through 2032, on account of the higher consumer incomes.
The sports nutrition applications will witness 8.5% CAGR through 2032, attributed to the rising demand for high-quality plant proteins.

Vegan Protein Powder Market Scope

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 10
  • Tables & Figures: 433
  • Countries covered: 22
  • Pages: 315
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