Global Vegan Protein Powder Market is expected to grow at a CAGR of XX% during the forecast period from 2019-2026

As per the report published by Fior Markets,the global Vegan Protein Powder market is expected to grow from USD XX Million in 2018 to USD XX Million by 2026, at a CAGR of XX% during the forecast period from 2019-2026.The North America region led the global Vegan Protein Powder market with a market share of XX% in 2018 owing to increasing awareness about vegan diet as well as changing trend towards vegetarianism as a result of new product promotions on social media and television channels in the region.Due to the increasing consumption of sports nutrition supplements, demand in the U.S. is expected to grow steadily over the forecast period. In addition, rising weight management issues coupled with growing consumer awareness about nutritious diet intake and maintaining a healthy lifestyle are expected to fuel regional market growth over the forecast period. Also, rising disposable income and urbanization in the Asia Pacific region are anticipated to play a key role in promoting consumption of the vegan protein powder, particularly among the vegan population that will fuel the regional market growth in the coming years.

"Vegan Protein Powder Market by Type (Vegetable, Nuts and Others), Application, Regions",and Global Forecast 2019-2026.

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Major players in the global Vegan Protein Powder market are Health Warrior, Garden of Life, WhiteWave Foods, Private Label Superfoods, Australian Sports Nutrition, Glanbiaplc, Hammer Nutrition and MRM among others. Protein powder is a common nutritional supplement. Protein is an essential macronutrient for muscle building, tissue repair, and enzyme and hormone production. The use of protein powder can also aid weight loss and help people strengthen their muscles. Protein powder is an easy, no-prep way to boost the protein content for the day. A vegan protein powder simply means that the protein is coming from plants sources such as nuts, seeds, grains, legumes rather than animal products like dairy, meat, and eggs. Soy, hemp, pea, rice, and peanut are all examples of vegan protein powders.

Increasing preference towards vegan diet due to the risks of cardiovascular diseases and type 2 diabetes associated with the consumption of meat products. The global Vegan Protein Powder market is expected to experience substantial growth over the next few years as a result of growing flexitarian population in the U.S. and Canada due to extensive campaigns for promoting vegan diet via media platforms.But, the irregular raw material cost may hamper the growth of the market.

For instance, in February, 2019, Glanbia Nutritionals, a wholly-owned subsidiary of Glanbia P.L.C., agreed to acquire Watson Inc., a manufacturer and supplier of custom nutrient premix, bakery ingredient, edible film and material conditioning solutions for the nutrition, food and beverage, personal care and supplement industries. Financial terms of the transaction were not disclosed.Watson is a third-generation family business with three facilities in West Haven and Orange, Conn., and Taylorville, Ill. The company specializes in microencapsulation, agglomeration, micronizing, spray drying and film technology. The acquisition of Watson will extend Glanbia's custom nutrient premix production footprint coast to coast in the United States, as the company will now operate facilities in California, Missouri, Illinois and Connecticut. The U.S. presence is supplemented by facilities in Germany and China.

For instance, in June, 2015, Nutritional food company Vega was acquired by dairy producer WhiteWave Foods Co., for $550 million.WhiteWave Foods has several organic brands such as Horizon Organic, Earthbound Farm and the Silk line of dairy alternatives. WhiteWave described Vega as a "pioneer and leader in plant-based nutrition products" and noted that "is acquisition represents an opportunity for WhiteWave to extend its plant-based foods and beverages platform into nutritional powders and bars, with additional innovation opportunities." Vega is primarily known for its fully plant-based line of powdered shakes and snack bars.

The type segment is divided into vegetable, nuts and others. The vegetable segment emerged as the leader in the global vegan protein powder market with a market share of 38.92% in 2018. Most vegetables are loaded with healthy fibres that naturally improves digestion and absorption, increase motility and reduce symptoms of gas and bloating, these factors are driving this increase in demand. The application segment includes adult male, adult female, youth and others.The adult male segment is anticipated to grow at the highest CAGR over the forecast period. This increased growth rate can be attributed to the increasing preference of adult male buying protein bars for various purposes, such as weight management, improving muscle mass, and increasing energy.

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Due to animal protein allergies, most of the meat consumers are inclined toward meat substitutes made of vegan protein, which ultimately drives the vegan protein powder market. The demand for vegan proteins is growing at a fast rate, owing to change in lifestyle, lack of balanced dietary intake, and improved R&D, in order to develop new kinds of plant-protein enriched powder.The demand for processed and low cholesterol foods has paved the way for the vegan protein powder market. However, flavor profiles of vegan protein powder requires improvements.

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