Vegan Protein Powder Market Research Report Information By Product (Hemp Protein, Soy Protein Isolate, Rice Protein Concentrate, Pea Protein Isolate, Rice Protein Isolate, Pea Protein Concentrate, Spirulina Protein, Quinoa Protein, And Protein Blends), By Nature (Organic and Conventional), By Flavor (Unflavored, Chocolate, Vanilla, Strawberry, and Others), By Application (Sports Nutrition, Beverages, Functional Food, and Others), By Distribution Channel (Hypermarkets & Supermarkets, Specialty Stores, Online Retail, and Others) And By Region

Global Vegan Protein Powder Market Overview

Vegan Protein Powder Market Size was valued at USD 4.2 Billion in 2022. The vegan protein powder industry is projected to grow from USD 4.54 Billion in 2023 to USD 8.53 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 8.20% during the forecast period (2023 - 2032). Rising consumer awareness of the nutritional values of plant-based products, such as high amino acids and low sodium, and increasing desire for protein supplements to enhance well-being and promote good health are expected to be significant market drivers for the Vegan Protein Powder.

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Vegan Protein Powder Market Trends

• The rising vegan population increasing prevalence of zoonotic diseases among humans and growing awareness are driving the market growth

Market CAGR for Vegan Protein Powder is being driven by the Rising vegan population increasing the prevalence of zoonotic diseases among humans and growing awareness. A significant upsurge in the vegan population has emerged as a key driver propelling the demand for vegan protein powder in the market. Additionally, the increasing prevalence of zoonotic diseases among humans and the growing awareness surrounding this issue are driving the consumer adoption of vegan protein. The estimated 1% of the population that adheres to a vegan lifestyle is anticipated to see substantial growth in the coming years. Furthermore, the rising consumer awareness regarding the advantages of vegan protein compared to animal-based protein is contributing to the robust expansion of the vegan protein powder market.

In 2022, The Good Food Institute's report indicated that worldwide retail sales of plant-based meat products reached a significant $6.1 billion. Furthermore, a comprehensive survey conducted by Rakuten in 2021 revealed noteworthy consumer adoption figures: 81% of respondents had sampled plant-based milk, 48% had experimented with alternative dairy products, 44% had tested vegan meat substitutes, and 25% had explored vegan egg replacements. It's worth noting that the demand for vegan food was underscored by an extraordinary surge in online searches, exemplified by a more than 5000% increase in Google searches for "vegan food near me" in 2021. According to data from the Vegan Society, in 2021, the count of vegans stood at 79 million individuals. The heightened awareness of the health benefits associated with vegan food products has led to the widespread adoption of vegan diets by a significant portion of the population. This surge in demand for various vegan food products, driven by health-conscious consumers, extends to various market segments, including the sports industry. Professional athletes and sports personnel are increasingly embracing vegan diets due to their growing awareness of the associated benefits. This consumer perception has, in turn, spurred the demand for vegan protein supplement products.

As a result, it is anticipated that throughout the projection period, demand for the Vegan Protein Powder Market will increase due to the Rising vegan population and increasing prevalence of zoonotic diseases among humans and the growing awareness. Thus, driving the vegan protein powder industry revenue.

Segment Insights

Vegan Protein Powder Product Insights

The Vegan Protein Powder Market segmentation, based on Product includes Hemp protein, Soy protein isolate, Rice protein concentrate, Pea protein isolate, Rice protein isolate, Pea protein concentrate, Spirulina protein, Quinoa protein, and Protein blends. The Soy protein isolate segment dominated the market, accounting for 58% of market revenue (20.0 Billion). The growing favorability of soy protein as a vegetarian protein source, along with the incorporation of ingredients like glutamine and BCAAs that facilitate muscle recovery and rapid absorption, are significant drivers of growth in this market segment. Soy proteins offer various health benefits, including support for bone health, enhanced immune function, and prevention of cardiovascular disease. Additionally, in developed markets like the U.S. and Germany, where lactose intolerance and glutamic disorders are well-recognized, the demand for soy protein isolate is anticipated to increase in the foreseeable future.

Vegan Protein Powder Nature Insights

The Vegan Protein Powder Market segmentation, based on Nature, includes Organic and Conventional. The conventional segment dominated the market, accounting for 60% of market revenue (20.4 Billion). Consumers are increasingly looking for clean-label products with minimal additives and artificial ingredients. Conventional vegan protein powders often align with these clean-label preferences, making them more appealing to a health-conscious audience.

Vegan Protein Powder Flavor Insights

The Vegan Protein Powder Market segmentation, based on Flavor, includes Unflavored, Chocolate, Vanilla, Strawberry, and Others. The unflavored segment dominated the market, accounting for 60% of market revenue (20.4 Billion). Unflavored vegan protein powders are often associated with clean labels. They typically have fewer additives and artificial ingredients, which aligns with the preferences of consumers seeking cleaner and more natural products. Unflavored vegan protein powders are often free from common allergens like dairy, gluten, and soy, making them suitable for a broader range of dietary needs. This inclusivity contributes to their popularity among consumers with specific dietary restrictions or allergies.

Vegan Protein Powder Application Insights

The Vegan Protein Powder Market segmentation, based on Application, includes Sports Nutrition, Beverages, Functional Food, and Others. The sports nutrition segment dominated the market, accounting for 60% of market revenue (20.4 Billion). There is a rising consumer demand for sports nutritional products that facilitate lean muscle growth, enhance athletic performance, aid in weight management, and boost stamina. This demand is further amplified by the growing number of fitness enthusiasts frequenting gyms. As of 2021, data from the International Health Racquet and Sportsclub Association (IHRSA) reveals the presence of 32,270 health clubs in the United States, with a staggering 4.5 billion Americans actively engaging in health club activities. Similarly, in 2022, Germany reported a total of 9.2 million health club consumers. As a result, the segment is expected to witness substantial growth in the forthcoming years.

Figure 1: Vegan Protein Powder Market, by Application, 2022 & 2032 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Vegan Protein Powder Distribution Channel Insights

The Vegan Protein Powder Market segmentation, based on Distribution Channels, includes Hypermarkets and supermarkets, Specialty Stores, Online Retail, and Others. The Specialty Stores segment dominated the market, accounting for 60% of market revenue (20.4 Billion). Specialty stores tend to offer a more curated selection of vegan products. This can create a favorable shopping environment for customers looking for vegan protein powders, as they can easily find a variety of brands and flavors in one place. The staff at these stores may also have a deeper knowledge of the products, which can assist customers in making informed choices.

Vegan Protein Powder Regional Insights

By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The market's leading position can be chiefly attributed to the in-depth product awareness among consumers and the expanding vegan demographic within the North American region. North America stands out for its high levels of disposable income, a rising trend in health consciousness, a growing preference for plant-based goods, and various other contributing factors. In 2021, research conducted by Rakuten revealed significant consumer adoption of plant-based products in the United States. This included 82% of consumers trying plant milk, 40% experimenting with various vegan dairy alternatives, 62% sampling plant-based meats, and 22% exploring vegan egg replacements. These choices were primarily driven by health considerations (35%), curiosity about food trends (41%), and concern for animal welfare (23%). In 2021, VegWorld reported a significant shift in dietary preferences in Mexico, with 20% of the population identifying themselves as either vegetarian or vegan. This reflects a growing trend toward plant-based diets in the country. These dynamics collectively drive increased consumer demand for vegan protein powder in the region.

Further, the major countries studied in the market report are the US, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: VEGAN PROTEIN POWDER MARKET SHARE BY REGION 2022 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe's Vegan Protein Powder Market accounts for the second-largest market share as European consumers are becoming more health-conscious and are increasingly looking for nutritious and clean-label products. Vegan protein powders are often perceived as a healthier alternative to traditional protein sources, as they are typically lower in saturated fats and cholesterol. The trend towards plant-based diets is strong in Europe. GFI Europe's analysis of 13 European countries reveals a significant growth in the sales of plant-based foods, with a 21% increase from 2020 to 2022, reaching a record €5.8 billion in revenue. Notably, plant-based meat sales reached €2 billion in 2022, constituting 6% of the total pre-packaged meat market. Plant-based milk emerged as the leading category, accounting for 38% of the overall plant-based sales, closely followed by plant-based meat. Although plant-based seafood was the smallest category, it exhibited remarkable growth, with a 326% increase in sales value between 2020 and 2022. Many people are adopting vegan, vegetarian, or flexitarian diets for health, ethical, and environmental reasons. Vegan protein powders are a convenient way for individuals to meet their protein needs while adhering to these dietary choices. Further, the German Vegan Protein Powder held the largest market share, and the UK vegan protein powder industry was the fastest-growing market in the European region

The Asia-Pacific Vegan Protein Powder Market is expected to grow at the fastest CAGR from 2023 to 2032. The substantial market growth in the Asia-Pacific region can be attributed to multiple factors, including the expanding participation in recreational activities, the improving living standards in developing nations like China and India, the proliferation of fitness centers and sports clubs, the increasing vegetarian demographic, and the rapid urban population growth. In 2020, a PwC research study revealed that 43% of Indonesian consumers expressed a likelihood, ranging from "likely" to "very likely," to embrace a vegan or vegetarian lifestyle within the next 12 months. Other countries in the region with notable figures included Thailand (37%), Myanmar (35%), and Hong Kong (27%). Additionally, a 2020 research report by NewNutrition Business highlighted that 13% of consumers across the region declared their adherence to a vegan dietary choice. According to The Good Food Institute's findings in 2018, the Chinese domestic plant-based meat industry exhibited a market size of approximately 6.1 billion yuan ($910 million), marking a year-on-year growth of 14.2%. These dynamics collectively contribute to the region's market expansion. Moreover, China’s market of vegan protein powder held the largest market share, and the Indian Vegan Protein Powder Market was the fastest-growing market in the Asia-Pacific region.

Vegan Protein Powder Market Key Market Players & Competitive Insights

Leading market players are investing heavily in research and development to expand their product lines, which will help the Vegan Protein Powder market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the Vegan Protein Powder industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the Vegan Protein Powder industry to benefit clients and increase the market sector. In recent years, the Vegan Protein Powder industry has offered some of the most significant advantages to health-conscious consumers, environmentally-conscious individuals, and the growing plant-based food market. Major players in the Vegan Protein Powder Market, including Archon Vitamin LLC., Sequel Natural Ltd., Amway Corporation, Hormel Foods Corporation, True Nutrition, GlaxoSmithKline plc, Glanbia plc, NOW Health Group, Inc., Abbott Laboratories, ABH Pharma Inc., Vital Amine, Inc., MusclePharm Corporation, Suppleform and Vitaco Health, General Nutrition Centers, Inc., Nutiva Inc. are attempting to increase market demand by investing in research and development operations.

Hormel Foods Corporation is a prominent manufacturer and distributor specializing in meat and food products. The company boasts a diverse product portfolio, encompassing fresh meats, frozen goods, refrigerated meal solutions, sausages, hams, guacamole, bacon, canned luncheon meats, microwaveable meals with a long shelf life, stews, chilies, tortillas (both flour and corn), salsas, peanut butter, nutritional food products, supplements, desserts, drink mixes, and industrial gelatin products. These products are marketed under various well-known brand names like Always Tender, Hormel, Applegate, Austin Blues, and Black Label, among others. Hormel Foods operates ly, with a presence in multiple countries, including Australia, Brazil, Canada, China, England, Japan, Mexico, Micronesia, the Philippines, Singapore, and South Korea. In August 2020, Hormel Foods Corporation introduced new plant-based alternatives, targeting food manufacturers seeking to incorporate plant-based offerings to meet the demands of the growing consumer interest in such products.

Glanbia Plc, a prominent dietary supplement company, is primarily engaged in the manufacturing of cheese, dairy, and both dairy and non-dairy nutritional ingredients. The company's extensive product portfolio includes an array of items, ranging from protein powders, protein bars, and animal feeds to dressings, beverages, cheese, vitamins, mineral premixes, and sauces, among others. These products are marketed through various channels, including specialty retail, e-commerce, and gym facilities. Glanbia operates under a portfolio of well-recognized brands such as Optimum Nutrition, BSN, Isopure, Nutramino, think! Amazing Grass, and Body & Fit. The company maintains its business operations across multiple regions, including North America, Europe, Asia-Pacific, and Latin America. Glanbia is headquartered in Kilkenny, Ireland. In a recent development on October 8, 2023, Optimum Nutrition, a subsidiary of Glanbia and renowned as the world's leading sports nutrition brand, proudly announced the launch of "Clear Protein." This innovative product leverages cutting-edge technology to create a clear protein shake. Clear Protein, a 100% plant protein isolate, offers a delightful fruity flavor and packs a robust 20g of high-quality protein per serving, supporting both training and daily nutritional requirements.

Key companies in the Vegan Protein Powder Market include

• Archon Vitamin LLC.


• Sequel Natural Ltd.


• Amway Corporation


• Hormel Foods Corporation


• True Nutrition


• GlaxoSmithKline plc


• Glanbia plc


• NOW Health Group, Inc.


• Abbott Laboratories


• ABH Pharma Inc.


• Vital Amine, Inc.


• MusclePharm Corporation


• Suppleform


• Vitaco Health


• General Nutrition Centers, Inc.,


• Nutiva Inc.

Vegan Protein Powder Industry Developments

July 2022: In July 2022, the well-known online sports nutrition brand, Myprotein, forged a partnership with the startup Perfect Day to launch an innovative performance protein powder named "Whey Forward." This pioneering product is meticulously crafted using animal-free dairy, underlining an unwavering commitment to maintaining the highest standards of quality and effectiveness.

June 2021: In June 2021, Huel introduced a groundbreaking vegan protein powder, touting a world-first achievement in the nutritionally complete category. This cutting-edge formulation incorporates a blend of three plant-based protein sources—specifically, hemp, faba, and pea. The hemp and pea proteins were characterized by their neutral flavor, while the faba protein added a smooth and creamy texture to the product profile.

Vegan Protein Powder Market Segmentation

Vegan Protein Powder Product Outlook

• Hemp protein


• Soy protein isolate


• Rice protein concentrate


• Pea protein isolate


• Rice protein isolate


• Pea protein concentrate


• Spirulina protein


• Quinoa protein


• Protein blends

Vegan Protein Powder Nature Outlook

• Organic


• Conventional

Vegan Protein Powder Flavor Outlook

• Unflavoured


• Chocolate


• Vanilla


• Strawberry


• Others

Vegan Protein Powder Application Outlook

• Sports Nutrition


• Beverages


• Functional Food


• Others

Vegan Protein Powder Distribution Channel Outlook

• Hypermarkets & Supermarkets


• Specialty Stores


• Online Retail


• Others

Vegan Protein Powder Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America