Vegan Protein Powder Market Size
Market Outlook:
Base Year Value (2023)
USD 383.52 Million
CAGR (2024-2032)
9.7%
Forecast Year Value (2032)
USD 764.19 Million
Historical Data Period
2019-2023
Largest Region
North America
Forecast Period
2024-2032
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Market Dynamics:
Growth Drivers & Opportunity:The Vegan Protein Powder Market is witnessing significant growth due to the increasing adoption of plant-based diets and the rise in vegan population across the globe. Consumer awareness about the health benefits of plant-based proteins over animal proteins is driving the demand for vegan protein powders. Additionally, the growing trend of clean eating and wellness among consumers is fueling the market growth. Moreover, the rising number of fitness enthusiasts and athletes opting for vegan protein powders to meet their protein requirements is further boosting market expansion.
Industry
Report Scope
| Report Coverage | Details |
|---|---|
| Segments Covered | Source, Flavor, End-Use, Distribution Channel |
| Regions Covered | • North America (United States, Canada, Mexico) • Europe (Germany, United Kingdom, France, Italy, Spain, Rest of Europe) • Asia Pacific (China, Japan, South Korea, Singapore, India, Australia, Rest of APAC) • Latin America (Argentina, Brazil, Rest of South America) • Middle East & Africa (GCC, South Africa, Rest of MEA) |
| Company Profiled | Bactolac Pharmaceutical, Archer Daniels Midland Company, AMCO Proteins, Titan Biotech Limited, SMP Nutra, AGT Foods, A&B ingredients, Garden of Life, Sunwarrior LLC, Orgain, |
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Despite the growing popularity of vegan protein powders, the market faces challenges in terms of taste and texture compared to conventional protein powders. Some consumers find plant-based protein powders to be grainy or gritty in texture, which can be a deterrent to their consumption. Moreover, the higher price point of vegan protein powders compared to traditional whey protein powders is also a major restraint for market growth. The cost factor can limit the adoption of vegan protein powders among price-sensitive consumers, hindering market expansion to some extent.
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