How Has the Vegan Protein Powder Market Size Evolved in Recent Years?
The vegan protein powder market has seen considerable growth due to a variety of factors.
•In recent times, the market size for vegan protein powder has seen robust growth. The market is projected to expand from $4.87 billion in 2024 to $5.24 billion in 2025, with a compound annual growth rate (CAGR) of 7.7%.
Factors contributing to the growth during the historical period include growing consciousness about health and fitness, popularization of plant-based diets, rising concerns about animal wellbeing, expansion in the plant-based food sector, and increased availability of vegan products.
What are the Market Size and Expected Growth Rates for the Vegan Protein Powder Market?
The vegan protein powder market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for vegan protein powder is projected to experience robust expansion in the forthcoming years. It is anticipated to reach $7.31 billion by 2029, with a compound annual growth rate (CAGR) of 8.7%.
The growth predicted for the forecast period can be credited to the rising number of nutrition-conscious consumers, the increasing demand for eco-conscious and sustainable merchandise, the expansion of the vegan food sector, the growing preference for plant-based diets, and governmental interventions endorsing nutritious eating. Notable trends expected in the forecast period encompass technological advancements fostering plant-based protein extraction, innovative flavor profiles and formulas, the emergence of new plant protein sources, enhanced focus on obtaining organic and non-GMO certifications, and tailored nutrition in vegan offerings.
What Are The Essential Drivers Behind The Growth Of The Vegan Protein Powder Market?
The escalating number of vegans is predicted to be a key catalyst in the expansion of the vegan protein powder market. Defined as individuals who strictly avoid the consumption of any animal-derived products, including meats, eggs, and dairies, the vegan demographic relies on vegan protein powder to fulfil their daily protein requirements in a simpler, more effortless way. Case in point, data from the US Department of Agriculture's Foreign Agricultural Service, a US-based government body, revealed in January 2023 that Germany recorded the greatest vegetarian population. In 2022, over 1.5 million individuals identified as vegans living in the country, 1.58 million professed to be vegans, and approximately 8 million people maintained vegetarian diets. Contrastingly, just a decade ago, the vegan population was at a mere 0.1 million. Consequently, the escalating vegan demographic is propelling the vegan protein powder market's growth.
How Is The Global Vegan Protein Powder Market Divided Into Key Segments?
The vegan protein powder market covered in this report is segmented –
1) By Type: Soy Protein, Spirulina Protein, Wheat Protein, Pumpkin Seed Protein, Hemp Protein, Pea Protein, Rice Protein, Other Types
2) By Age Group: Millennials, Generation X, Baby Boomers
3) By Nature: Organic, Conventional
4) By Distribution Channel: Modern Groceries, Online Retail Or E-Commerce, Natural And Specialty Retail, Pharmacies And Drug Stores, Health Food Stores, Convenience Stores, Other Distribution Channels
5) By Application: Sports Nutrition, Additional Nutrition
Subsegments:
1) By Soy Protein: Isolate, Concentrate, Textured Soy Protein
2) By Spirulina Protein: Powder, Tablets Or Capsules
3) By Wheat Protein: Gluten, Wheat Protein Isolate
4) By Pumpkin Seed Protein: Powder, Oil Extract
5) By Hemp Protein: Hemp Protein Powder, Hemp Seed Oil
6) By Pea Protein: Pea Protein Isolate, Pea Protein Concentrate
7) By Rice Protein: Brown Rice Protein, White Rice Protein
8) By Other Types: Sunflower Seed Protein, Chia Seed Protein, Quinoa Protein, Other Plant-Based Proteins
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What Trends Are Reshaping The Future Of The Vegan Protein Powder Market?
The surge in innovative plant-based protein sources is a notable trend gathering traction in the vegan protein powder industry. Major players in this market are unveiling unique plant-based protein products in order to maintain their market dominance. For example, in July 2022, Dymatize Enterprises LLC, an American company specializing in bodybuilding and nutritional supplements, launched Dymatize Complete Plant Protein, engineered with five different plant-based protein sources. The product is a vegan and plant-based supplement powerhouse, offering a comprehensive amino acid profile for optimising protein intake before and after workouts. This freshly introduced plant-based protein blend is remarkably versatile and palatable, blending smoothly into water, smoothies, and a variety of macro-friendly meals without including artificial colors, sweeteners, soy, or dairy ingredients.
Who Are the Key Players in the Vegan Protein Powder Market?
Major companies operating in the vegan protein powder market include:
• Cargill Incorporated.
• Archer-Daniels-Midland Company
• Abbott Laboratories Ltd.
• Kerry Group plc
• Amway Corporation
• Ingredion Incorporated
• Glanbia plc
• GNC Holdings LLC
• The Scoular Company
• Now Health Group Inc.
• Farbest-Tallman Foods Corp
• MusclePharm Corp
• Nutiva Inc.
• Nutrivo LLC
• True Nutrition
• Transparent Labs LLC
• Nutrex Research Inc.
• Optimum Nutrition Inc.
• Sunwarrior LLC.
• Garden of Life LLC
• Supplement Manufacturing Partners (SMP Nutra)
• Archon Vitamin LLC
• A&B Ingredients Inc.
• The Green Lab LLC
• Naked Nutrition International
• Orgain Inc.
• AGT Food and Ingredients Inc.
• Zywie Ventures Private Limited
• Nuzest IP Pty Limited
• GlobalRidge LLC
What are the Regional Insights into the Vegan Protein Powder Market?
North America was the largest region in the vegan protein powder market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the vegan protein powder market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
