Dublin, Jan. 25, 2024 (GLOBE NEWSWIRE) -- The "Global Vegan Protein Powder Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
The global vegan protein powder market has witnessed a commendable growth, with a projection to continue its ascent from a valuation of $4.18 billion in 2022 to an anticipated $4.51 billion in 2023. By the year 2027, market forecasts situate its worth at an estimated $6.09 billion, cruising at a steady CAGR of 7.8%.
Fueled by the mounting vegan demographics worldwide, the demand for vegan protein powder sees an upward trajectory. The burgeoning trend of plant-based diets and increasing consciousness towards healthier lifestyle choices contribute substantially to the market’s growth. With countries like Germany showcasing a significant increase in veganism, the influence is palpable, setting a strong foundation for market expansion.
Innovations within the vegan protein powder sector emerge as a trend rapidly gaining momentum. Key market participants are pioneering with novel plant-derived protein formulations to cater to the evolving consumer tastes and preferences, reflecting in the launch of diverse products such as Dymatize Enterprises LLC’s plant-powered protein blends, tapping into a holistic approach towards fitness and well-being.
The geographic expanse of the market spans continents, with North America emerging as the market dominion. Meanwhile, the Asia-Pacific region is sprinting to become the fastest-growing sector within the forecast period. The comprehensive analysis covers diverse regions including Western Europe, Eastern Europe, South America, the Middle East, and Africa.
The industry scenario is competitive, with key players like Cargill Incorporated and Archer-Daniels-Midland Company driving pivotal acquisitions and alliances to fortify their market presence. Various developments, such as the acquisition of Sojaprotein by Archer-Daniels-Midland Company, exemplify strategic movements within the ‘vegan protein powder’ sphere.
In an in-depth exploration of the vegan protein market, the report sheds light on predominant types spanning from soy protein to rice protein along with niche segments like pumpkin seed protein and hemp protein. With a demographic breakdown from millennials to baby boomers and a distribution channel analysis covering modern groceries to online retail, the report provides a granular view of the market dynamics.
The utilization of vegan protein powders stretches across applications, including sports nutrition and additional nutrition. Underscored within the report are the ‘factory gate’ values, emphasizing the original value generation by the manufacturers without the influence of subsequent resale activities.
The marketplace’s pulsating vigor is intrinsic to the evolving dietary patterns echoing a propensity towards sustainability and health. The wide-ranging report captures the essence of these patterns, offering a forecasted perspective that bears crucial insights for anyone invested in the vegan protein powder industry’s current and upcoming landscape.
Highlights of the Vegan Protein Powder Market Report:
- Outlined growth projection with a CAGR of 8.1% from 2023 to an expected valuation of $6.09 billion by 2027.
- Insights into the expanding vegan demographic influencing market growth.
- Innovative plant-based protein sources by leading market entities.
- Detailed regional analysis with North America leading and Asia-Pacific upsurging.
- Comprehensive coverage of types, age groups, forms, distribution channels, and applications within the vegan protein powder domain.
The increasing inclination towards veganism, coupled with relentless innovations and strategic market movements, underscores the potential and progression of the vegan protein powder market. Stakeholders and industry players can glean multifaceted insights from the report, which is a testament to the industry’s robustness and persistent innovation.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 175 |
| Forecast Period | 2023 - 2027 |
| Estimated Market Value (USD) in 2023 | $4.51 billion |
| Forecasted Market Value (USD) by 2027 | $6.09 billion |
| Compound Annual Growth Rate | 7.8% |
| Regions Covered | Global |
A selection of companies mentioned in this report includes
- 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
For more information about this report visit https://www.researchandmarkets.com/r/40mox3
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