14-Jun-2021 | Zion Market Research
Some of the key players operating in the vegan protein powder market are Health Warrior, Garden of Life, WhiteWave Foods, Private Label Superfoods, Australian Sports Nutrition, Glanbia plc, Hammer Nutrition and MRM among others. These players are set to bolster the development of global vegan protein powder market.
According to analysts at Zion Market Research, the global vegan protein powder market accounted for USD 6032.7 Million in 2020 and is expected to reach USD 19,672.2 Million by 2028, growing at a CAGR of 16.5% from 2021 to 2028.
This review is based on a report by Zion Market Research, titled “Vegan Protein Powder Market by Type (Nuts, Vegetable, and Others), by Application (Youth, Adult Female, Adult Male, and others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2028.”
Health awareness amongst the consumers bolstered the growth of vegan protein powder across the globe
Growing awareness of the importance of healthy eating is one of the main drivers of the global vegan protein powder market. People are also making changes to incorporate healthy lifestyle habits, which has resulted in an increase in vegan protein product consumption. Vegan protein powder is becoming more popular as people become more aware of the health benefits and the fact that it is more digestible. In the long run, demand will be driven by the demand for clean foods and the transition from synthetic to organic and natural ingredients. Due to an increase in the number of consumers suffering from allergies such as lactose intolerance and increased production of new plant protein sources such as rice and almonds, the market is expected to see increased profitability opportunities.
Presence of Big Players in The Region Support North American Dominance
The North America region dominated the global vegan protein powder market in 2020, thanks to increased awareness about vegan diets and a changing trend towards vegetarianism as a result of new product promotions on social media and television channels in the region. Demand for sports nutrition supplements is expected to rise steadily in the United States over the next few years, thanks to rising consumption. Furthermore, the rising concern in the United States about obesity and weight management, as well as consumer demands to better manage their hectic lifestyles, has created a favorable environment for the sale of vegan protein powder. Additionally, investments in sports nutrition research, as well as demand from athletes and the health and wellness sector, boost overall demand. Vegan protein powder's potential applications are expected to grow in the long run as consumers shift away from mass-produced processed foods and toward health products and functional foods.
Browse the full “Vegan Protein Powder Market by Type (Nuts, Vegetable, and Others), by Application (Youth, Adult Female, Adult Male, and others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2028.” Report at https://www.zionmarketresearch.com/report/vegan-protein-powder-market
The global vegan protein powder market is segmented as follows:
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