Newark, NJ, Jan. 28, 2020 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global vegan protein powder market is expected to grow from USD 4.64 Billion in 2018 to USD 13.19 Billion by 2026 at a CAGR of 14.01% during the forecast period 2019-2026.
Due to animal protein allergies, most of the meat consumers are inclined toward meat substitutes made of vegan protein, which ultimately drives the vegan protein powder market. The demand for vegan proteins is growing at a fast rate, owing to change in lifestyle, lack of balanced dietary intake, and improved R&D, in order to develop new kinds of plant-protein enriched powder. The demand for processed and low cholesterol foods has paved the way for the vegan protein powder market.
Protein powder is a common nutritional supplement. Protein is an essential macronutrient for muscle building, tissue repair, and enzyme and hormone production. The use of protein powder can also aid weight loss and help people strengthen their muscles. Protein powder is an easy, no-prep way to boost the protein content for the day. Vegan protein powder simply means that the protein is coming from plants sources such as nuts, seeds, grains, legumes rather than animal products like dairy, meat, and eggs. Soy, hemp, pea, rice, and peanut are all examples of vegan protein powders.
Increasing preference towards vegan diet due to the risks of cardiovascular diseases and type 2 diabetes associated with the consumption of meat products is expected to propel the market growth over the next few years. However, the irregular raw material cost may hamper the growth of the market.
DOWNLOAD FREE SAMPLE REPORT AT https://www.fiormarkets.com/report-detail/407139/request-sample
Key players operating in the global Vegan Protein Powder market include Health Warrior, Garden of Life, WhiteWave Foods, Private Label Superfoods, Australian Sports Nutrition, Glanbia plc, Hammer Nutrition and MRM among others. To enhance their market position in the global vegan protein powder market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint venture, collaborations, and partnership.
- For instance, in February, 2019, Glanbia Nutritionals, a wholly-owned subsidiary of Glanbia P.L.C., agreed to acquire Watson Inc., a manufacturer and supplier of custom nutrient premix, bakery ingredient, edible film and material conditioning solutions for the nutrition, food and beverage, personal care and supplement industries. Financial terms of the transaction were not disclosed. Watson is a third-generation family business with three facilities in West Haven and Orange, Conn., and Taylorville, Ill. The company specializes in microencapsulation, agglomeration, micronizing, spray drying and film technology. The acquisition of Watson will extend Glanbia’s custom nutrient premix production footprint coast to coast in the United States, as the company will now operate facilities in California, Missouri, Illinois and Connecticut. The U.S. presence is supplemented by facilities in Germany and China.
- For instance, In August, 2018, the plant-based food brand, Health Warrior announced that it is launching new lines of protein powders and microwavable muffin cups in a quest to become a superfood-based platform brand. The protein powder — which comes in chocolate or vanilla flavors — has 20 grams of protein and also includes prebiotics and probiotics. It will retail for $29.99 for an 18 serving container. The company plans to watch the response to the two new lines and continue to innovate both within these categories and in new ones.
- Also, in December, 2017, Garden of Life announced that it will become part of Nestlé. This combination signals that USDA Organic and Non-GMO Project Verified nutrition, based on real, whole and plant-based foods, has a seat at the world’s largest tables..
The vegetables segment had a market value of USD 1.85 billion in 2018
The type segment is divided into vegetable, nuts and others. The nuts segment emerged as the leader in the global Vegan Protein Powder market with a revenue of USD 1.85 Billion in 2018. Most vegetables are loaded with healthy fibres that naturally improve digestion and absorption, increase motility and reduce symptoms of gas and bloating, these factors are driving this increase in demand.
The adult male segment is anticipated to grow at a CAGR of 16.15% in 2019-2026
The application segment includes adult male, adult female, youth and others. The adult male segment is anticipated to grow at the highest CAGR of 16.15% over the forecast period. This increased growth rate can be attributed to the preference of adult males buying protein powders for various purposes, such as weight management, improving muscle mass, and increasing energy.
Browse full report with TOC at https://www.fiormarkets.com/report/vegan-protein-powder-market-by-type-vegetable-nuts-407139.html
Regional Segment Analysis of the Vegan Protein Powder Market
- North America (U.S. , Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
Increasing awareness about vegan diet as well as changing trend towards vegetarianism as a result of new product promotions on social media and television channels in the region led the North America region to dominate the global vegan protein powder market in 2018. Due to the increasing consumption of sports nutrition supplements, demand in the U.S. is expected to grow steadily over the forecast period. In addition, rising weight management issues coupled with growing consumer awareness about nutritious diet intake and maintaining a healthy lifestyle are expected to fuel regional market growth over the forecast period. Rising disposable income and urbanization in the Asia Pacific region are anticipated to play a key role in promoting consumption of the vegan protein powder, particularly among the vegan population that will fuel the regional market growth in the coming years.
About the report:
The global Vegan Protein Powder market is analysed on the basis of value (USD Billion), volume (Kilograms), consumption (Kilograms), imports (Kilograms) and exports (Kilograms). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
For Instant Purchase: https://www.fiormarkets.com/checkout.html?reportid=407139&type=single
Customization of the Report:
The report can be customized as per client requirements. For further queries, you can contact us on sales@fiormarkets.com or +1-201-465-4211. Our executives will be pleased to understand your requirements and offer you the best-suited reports.
About Fior Markets
Fior Markets is a futuristic market intelligence company, helping customers flourish their business strategies and make better decisions using actionable intelligence. With transparent information pool, we meet clients’ objectives, commitments on high standard and targeting possible prospects for SWOT analysis and market research reports. Fior Markets deploys a wide range of regional and global market intelligence research reports including industries like technology, pharmaceutical, consumer goods, food and beverages, chemicals, media, materials and many others. Our Strategic Intelligence capabilities are purposely planned to boost your business extension and elucidate the vigor of diverse industry. We hold distinguished units of highly expert analysts and consultants according to their respective domains. The global market research reports we provide involve both qualitative and quantitative analysis of current market scenario as per the geographical regions segregated and comprehensive performance in different regions with global approach. In addition, our syndicated research reports offer a packaged guide to keep companies abreast of the upcoming major restyle in their domains. Fior Markets facilitates clients with research analysis that are customized to their exact requirements, specifications and challenges, whether it is comprehensive desk research, survey work, composition of multiple methods, in-detailed interviewing or competitive intelligence. Our research experts are experienced in matching the exact personnel and methodology to your business need.
Contact Us
Avinash D
Head of Business Development
Phone: +1-201-465-4211
Email: sales@fiormarkets.com
Web: www.fiormarkets.com
To know more market research reports and industry analysis, visit our associate website: https://www.mrinsights.biz/
Related Reports
Global Humic Acid Organic Fertilizer Market - https://www.fiormarkets.com/report/global-humic-acid-organic-fertilizer-market-by-type-375947.html
Global Modified Starch Market - https://www.fiormarkets.com/report/global-modified-starch-market-by-raw-material-corn-cassava-375948.html
Global Natural Source Vitamin E Market - https://www.fiormarkets.com/report/global-natural-source-vitamin-e-market-by-product-375949.html
Global Plant Breeding and CRISPR Plants Market - https://www.fiormarkets.com/report/global-plant-breeding-and-crispr-plants-market-by-375950.html