The Business Research Company’s Vegan Protein Powder Global Market Report 2023 is the most detailed report available on the market, including broad forecast periods and multiple geographies. The report covers the historic period – 2010-2021, and the forecast period – 2023-2032. The Vegan Protein Powder Global Market Report 2023 evaluates vegan protein powder market size, growth rate, drivers, trends, and major companies.
The report provides a global perspective by covering 60 geographies and focusing on major economies in each region – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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The global vegan protein powder market is expected to grow from $4.18 billion in 2022 to $4.51 billion in 2023 at a compound annual growth rate (CAGR) of 8.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and resulted in increased interest rates affecting many markets across the globe. The vegan protein powder market is expected to reach $6.09 billion in 2027 at a CAGR of 7.8%.
The rise in the vegan population is expected to propel the growth of the vegan protein powder market going forward. The term vegan population refers to the group of strict vegetarians who abstain from eating any animal products, including meat, eggs, and dairy. The vegan population uses vegan protein powder, which makes it easier and more convenient for them to meet their daily protein needs. For instance, in January 2023, according to U.S. Department of Agriculture’s Foreign Agricultural Service, a US-based government agency, Germany had the highest rate of vegetarianism, and in 2022, over 1.5 million vegans were living there, 1.58 million people claimed to be vegans, and nearly 8 million people consumed vegetarian food. Whereas 10 years ago, 0.1 million individuals were identified as vegans. Therefore, the rise in the vegan population is driving the growth of the vegan protein powder market.
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The vegan protein powder market segments in the report are:
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
Major Players
- Cargill Incorporated.
- Archer-Daniels-Midland Company
- Abbott Laboratories Ltd.
- Kerry Group plc
- Amway Corporation
The table of contents in TBRC’s vegan protein powder market report includes:
1. Executive Summary
2. Vegan Protein Powder Market Characteristics
3. Vegan Protein Powder Market Trends And Strategies
4. Vegan Protein Powder Market – Macro Economic Scenario
5. Global Vegan Protein Powder Market Drivers and Restraints.
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32. Global Vegan Protein Powder Market Competitive Benchmarking
33. Global Vegan Protein Powder Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Vegan Protein Powder Market
35. Vegan Protein Powder Market Future Outlook and Potential Analysis
36. Appendix
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