Vegan Protein Powder Industry 2019
The increase in vegan population across the globe and demand for natural, plant-based protein supplements are the chief driving factors for vegan protein powder market growth. Obesity is commonly seen and health issues growing, even with young adults and children which have prompted the consumers to seek herbal products to serve their body protein requirements. Wellness and fitness are the buzzwords and the keenness of the people to consume low calorie foods is seeing an up, providing a major boost to the vegan protein powder market.
Market by Top Vegan Protein Powder Companies, this report covers
Sports Supplements Ltd(UK)
Sun Brothers, LLC.(US)
Private Label Superfoods(AU)
Australian Sports Nutrition(AU)
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In the past few years, e-commerce platforms have played a significant role in the growth of the vegan protein powder market. Since the distribution channel is easily accessible and offers attractive discounts to consumers, manufacturers in this industry have been able to sell their products with ease. Vegan protein also comes with huge health benefits. Extracted largely from nuts and lentils, the protein aids in building muscle mass besides enhancing the energy levels of the body. In addition, vegan protein powder provides minerals, fiber, potassium and vitamins.
The other factors fueling the vegan protein powder market are growing concerns relating to environment and animal welfare. Moreover, vegan people are increasingly enrolling at fitness centers, creating demand for protein supplements. Vegan protein is considered as the best and safest source of protein and therefore in demand from the infant food, bakery and dairy industries. However, there is a misconception among the masses about the protein concentrate in some plants, which is a challenge to the industry.
The vegan protein powder market can be fragmented based on:
Type: Vegetable, Nuts, Soy Protein, Pea Protein, Wheat Protein, Others
Going by the type, the soy segment has been dominating in 2019. This is expected to continue since soy protein is an exceptional source of essential amino acids that are very much required by the human body.
Application: Adult Male, Youth, Adult Female and Others.
Going by application, youth and adult male segments have contributed greatly for the vegan protein powder market in 2019. However, the adult female segment is also fast picking up due to the increasing awareness about health and fitness among the section.
Distribution: Hypermarkets and Supermarkets, Retail Stores, Online channel
By distribution, supermarkets have dominated until now but online segment is quickly joining the race.
North America has been leading with the largest market share since a large percentage of people living in this region engage in fitness activities. They are also shifting their preferences and inclining towards vegan supplements. This is followed by Europe where vegan population is slowly seeing a rise. Counties in the Asia-Pacific region such as China, Japan and India have a large vegan population that is recognizing the benefits of workouts and fitness activities, providing a boost to the vegan protein powder market.
Latest Industry News
Rice protein is seeing a demand like never before. Athletes and body builders are increasingly opting for rice protein powder since it is easy to digest besides being gluten free. By 2024, the rice protein industry is expected to cross $115m.
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Table of Contents –Analysis of Key Points
1 Market Overview
2 Manufacturers Profiles
3 Global Vegan Protein Powder Sales, Revenue, Market Share and Competition by Manufacturer (2017-2018)
4 Global Vegan Protein Powder Market Analysis by Regions
5 North America Vegan Protein Powder by Country
6 Europe Vegan Protein Powder by Country
7 Asia-Pacific Vegan Protein Powder by Country
8 South America Vegan Protein Powder by Country
9 Middle East and Africa Vegan Protein Powder by Countries
10 Global Vegan Protein Powder Market Segment by Type
11 Global Vegan Protein Powder Market Segment by Application
12 Vegan Protein Powder Market Forecast (2019-2023)
13 Sales Channel, Distributors, Traders and Dealers
14 Research Findings and Conclusion
List of Tables and Figures
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