Vegan Protein Powder Market Size, Share, and Industry Analysis By Type (Soy Powder, Legume Powder, Nuts and Seeds, Whole Grain Powder, and Others), By Flavor (Unflavored and Flavored), By Application (Dietary Supplements, Sports Nutrition, Cooking, and Others), By Distribution Channel (Offline and Online), and Regional Forecast till 2032

The global vegan protein powder market expands due to the rising health-consciousness and change in diet preferences. Vegan protein powder is a food supplement that is composed only of plant products like peas, brown rice, hemp and soy and sometimes even novel ones such as chickpea, mung bean or even algae.

Constantly, manufacturers are investing heavily in research and development to see to it that the taste, texture and nutritional aspects of vegan protein powders are improved upon to eliminate the historical issues that existed regarding palatability. This will involve trying out new protein sources other than the regular peas and soy, like fava beans and lentils, to name a few, and even algae to provide different amino acid compositions and suit different tastes.

Vegan Protein Powder Market Driver

Trends of Health and Wellness to the Defense Ministry to Expand the Market

One of the strongest impellers of the vegan protein powder market is the overall trend of a healthy lifestyle in the world. Customers are becoming more active concerning their own health care and want to obtain food recommendations, which will help them live longer, prevent illness, and enhance the way their bodies perform. Vegan protein powders fit the trend more than well, being imagined as an alternative to animal proteins which are considered cleaner.

Increase of the Vegan and Flexitarian Diets to Advance the Market

A second turning point is the booming popularity of the vegan diet and flexitarian diet. Although the committed vegan community is still expanding, the larger flexitarian community is the one that really drives the popularization of vegan protein powders. Flexitarians who deliberately consume less meat and dairy, whilst not entirely abandoning animal products, tend to be interested in plant-based alternatives due to a variety of reasons and especially due to ethical, environmental and supposedly health-related considerations.

Vegan Protein Powder Market Restraint

Price Sensitivity to Pose Potential Impediments on this Market

Another major weakness influencing the vegan protein powder market is the price sensitivity, whereby it is to be compared with normal animal-based protein powders such as whey. The cost of manufacturing vegan protein powder can be high because of the complicated processes of both extraction and purification of proteins and compounding various plant proteins to complete an amino acid profile.

Vegan Protein Powder Market Opportunity

Emerging Markets to Create Opportunity in this Market

One of the major opportunities for the vegan protein powder market is the emerging markets, especially in the Asia-Pacific (India and China), Latin America and some sections of the African continent. These are high-growth urbanisation areas with high disposable incomes and an emerging middle class which is more and more subjected to the health and wellness dynamism of the world via digital media.

Segmentation

Key Insights

The report covers the following key insights:

• Market drivers, restraints and opportunities
• Influence of key industrial players and key developments
• Surging Consumer Health Consciousness
• Innovation in Product Development

Analysis by Type

By Type, the Vegan Protein Powder market is divided into Soy Powder, Legume Powder, Nuts and Seeds, Whole Grain Powder & Others

Soy protein powder, which is obtained from soybeans, is historically the key ingredient in the vegan protein market because of its ability to form complete protein, i.e., it contains all the nine essential amino acids required by the human body.

Pea proteins (and, to a growing extent, chickpea proteins, fava bean proteins and lentil proteins), treated as legume protein powders, are surprising fast-growing vegan protein market segments. The increase is highly stimulated by increased consumer requests for allergen-friendly and clean-label products.

Analysis by Flavor

Based on Flavor, the market is divided into Unflavored & Flavored

The unflavoured vegan protein powder category is fast-growing based on increasing demand for so-called clean label products along with the need for versatility of usage.

The flavoured vegan protein powder category is still leading and capturing the market because it touches on one of the critical points, palatability and convenience.

Analysis by Application

Based on Application, the market is divided into Dietary Supplement, Sports Nutrition, Cooking & Others

Energy-giving food supplements and application segments have heavily increased the vegan protein powder market by serving a wide range of consumers rather than only athletes. The growth is fuelled by an increasing general awareness of the relevance of proper intake of protein as a whole-body healthy measure, as a measure of weight control, and muscle maintenance as individuals age.

The segment of sports nutrition is a strong driving force in the development of the vegan protein powder market as plant-based proteins become more popular among sports players and fitness lovers.

Analysis by Distribution Channel

Based on Distribution Channel, the market is divided into Offline & Online

Conventional offline distribution channels, which include grocery stores and supermarkets, hypermarkets, health food shops (these are specifically dedicated to health food), pharmacies and even convenience stores, all are still enjoying impressive shares in the vegan protein powder market. The market is extremely broad and reaches a wide range of consumer groups because of the ongoing availability and location of these bricks-and-mortar stores of vegan protein powders.

The fast-growing online retail network, such as the e-commerce stores, direct-to-consumer brand platforms, online marketplaces and direct-to-consumer (DTC) brand platforms, are propelling vegan protein powder market growth.

Regional Analysis

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Based on region, the Vegan Protein Powder market has been studied across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

North America is one of the developed and advanced vegan protein powder markets due to the strong health and wellness movement, as well as a high level of creativity in plant-based diets. The area has the advantage of having substantial disposable incomes, where the customers can invest in high-end and speciality health products. Sports nutrition and fitness are strongly emphasised, and more and more athletes and active fitness fans are going vegan or flexitarian and require vegan protein to recover muscles and maintain performance.

• According to U.S. International Trade Commission, there are 22100 U.S. import entries of plant-based protein powders.
• According to U.S. Food and Drug Administration, there are 14 FDA GRAS notices referencing vegan protein ingredients.

Europe is a high-potential market, with its vegan protein market growing rapidly due to the growing awareness of people about the environmental and ethical consequences of animal farming and as health and sustainability become widely discussed and even trendy. Led by countries such as Germany, the UK, and the Nordics, the plant-based trend is gaining popularity with a massive increase in the number of vegans and flexitarians. The trend of European consumers to purchase products with clean labels, with no GMOs and artificial additives, also fits with the products that a lot of vegan protein powders have to offer.

The Asia-Pacific region offers an opportunity for the growth of the vegan protein powder market enormously, and this is the future. The fast urbanisation, upsurge in disposable income and Westernisation of diets are the drivers behind urban growth which come with new concepts of health and wellness. Most traditional Asian diets are already plant-forward, and more convenient and functional sources of protein are in demand as the middle classes and the younger groups continue to grow.

Key Players Covered

The report includes the profiles of the following key players:

• Bactolac Pharmaceutical, Inc. (U.S.)
• Archer Daniels Midland Company (U.S.)
• AMCO Proteins (U.S.)
• Titan Biotech Limited (India)
• SMP Nutra (U.S.)
• AGT Foods (U.S.)
• A&B ingredients (U.S.)
• Nestle S.A. (Switzerland)
• Sunwarrior LLC (U.S.)
• Orgain, Inc. (U.S.)

Key Industry Developments

In July 2022, Dymatize, the key sport nutrition brand of BellRing Brands, Inc., launched its new product, Dymatize Complete Plant Protein. It is a new product based on plant-protein powders that responded to the increased need to have more vegan and allergen-free picks in the performance nutrition market.