In a report by FMI, it’s acknowledged that vegan protein powders primarily based out of pure sources reminiscent of soy and pea will stay extremely wanted for functions within the meals and beverage processing sector, and likewise in well being and wellness merchandise. Direct gross sales approaches have confirmed extra fruitful, with customers selecting to make use of firm web sites for higher offers on purchases.
The vegan protein powder market shows sturdy progress on account of well being considerations over meat consumption and rising consciousness in regards to the ethics of animal farming. Additionally, the broader vary of product flavours and investments in the direction of product performance in muscle restore, and upkeep for health fans will support the marketplace for the foreseeable future.
Whereas gross sales of vegan protein powders are gaining floor quickly, shopper desire for animal-based merchandise, lack of unpolluted label certifications, and poor shopper consciousness in creating international locations are obstacles for gamers within the trade.
Key Questions Answered by the Report
- What’s the measurement of the vegan protein powder market?
The worldwide vegan protein powder market is estimated to have reached a worth of US$ 4.4 billion in 2020. The trade will rise at a 6.6% CAGR between 2019 and 2027. - Which is the most important marketplace for vegan protein powder?
North America is the main marketplace for vegan protein powders. Rising ranges of well being consciousness amongst customers and the enlargement of vegan populations support market progress. - That are the highest firms in vegan protein powder market?
Among the main firms working out there are Archer Daniels Midland Firm, AGT Meals and Elements, Cargill Inc., A&B Elements, Ingredion Inc., The Scoular Firm, and The Kerry Group amongst others. - What are the functions of vegan protein powder?
Vegan protein powders are discovering use within the meals and drinks sector, and is standard amongst folks affected by allergic reactions. Vegan protein powders are additionally more and more taking part in roles in animal feedstock formulations to maintain up with shopper biases. - From what supplies are vegan protein powders sourced?
Vegan protein powders are extracted from three main plant sources. These embrace soy, wheat, and peas. Of those, soy protein powders are extremely standard and are estimated to account for greater than 50% of the general market share by 2027. - What’s the outlook on vegan protein powder market?
Vegan protein powder producers are benefiting from altering shopper bias in the direction of animal welfare, the environmental affect of animal husbandry, and the rising consciousness in regards to the well being dangers from consumption of animal merchandise. These elements will affect the sector by means of the forecast interval. - Will South Asia & Oceania exhibit larger demand for vegan protein powder?
Nations in South Asia and Oceania are probably profitable markets for vegan protein powder producers. The rise in well being consciousness coupled with a considerable vegan and vegetarian inhabitants within the area drives progress.
