Vegan Protein Powder Market Forecasted to Reach $8.03 Billion by 2029

Meticulous Research® Unveils Projections: Global Vegan Protein Powder Market to Hit $8.03 Billion by 2029
Meticulous Research®, a leading global market research firm, has released its latest research report titled, 'Vegan Protein Powder Market by Type (Soy Protein, Rice Protein), Application (Sports Nutrition, Additional Nutrition), and Distribution Channel (Hypermarket/Supermarket, E-Commerce, Pharmacies)-Global Forecast to 2029.'

Download Free Sample Report : https://www.meticulousresearch.com/download-sample-report/cp_id=5290

According to the report, the vegan protein powder market is poised for substantial growth, projected to reach $8.03 billion by 2029, registering a robust CAGR of 7.3% from 2022 to 2029. This surge is underpinned by several key factors, including the escalating interest in plant-based nutrition, the steady expansion of the sports and health nutrition industry, a growing consumer preference for vegan diets, and the uptake of personalized nutrition solutions.

Furthermore, emerging economies in regions such as Asia-Pacific, Latin America, and the Middle East & Africa present promising opportunities, alongside the influx of new plant-based protein supplements. However, challenges such as the prevalent preference for whey-based protein supplements and the demand for soy-free and gluten-free products may impede market growth to some extent.

Market Segmentation:
The vegan protein powder market is segmented by type, application, distribution channel, and geography, with a comprehensive evaluation of industry competitors and regional analyses.

To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/vegan-protein-powder-market-5290

Type Segmentation:
• Soy protein, rice protein, pea protein, spirulina protein, pumpkin seed protein, hemp protein, and other plant-based protein powders constitute the market segments. In 2022, soy protein is anticipated to dominate the market owing to factors such as widespread availability, cost-effectiveness, high nutritional value, and strong consumer acceptance. However, the pea protein segment is expected to witness the highest CAGR during the forecast period due to growing popularity among vegetarians and vegans.

Application Segmentation:
• Segmented into sports nutrition and additional nutrition, the market is expected to witness significant growth in both segments. In 2022, the sports nutrition segment is estimated to hold a larger market share, fueled by increasing product innovations, rising sports
participation, and growing international sports events.

Quick Buy: https://www.meticulousresearch.com/Checkout/31548369

Distribution Channel Segmentation:

• Modern groceries, natural & specialty retail, online retail, health food stores, pharmacies & drug stores, convenience stores, and other distribution channels are analyzed. The modern groceries segment is projected to lead the market in 2022, driven by the extensive network of supermarkets and hypermarkets. However, the online retail/e-commerce segment is expected to witness the highest CAGR, attributed to its convenience and growing popularity among consumers.

Geographical Insights:
• North America is expected to dominate the market in 2022, owing to heightened demand for nutritional supplements and a robust sports and wellness industry. Meanwhile, Asia-Pacific is poised to exhibit the highest growth rate during the forecast period, driven by increasing recreational activities, rising living standards, and a growing vegetarian population.

For more information on the Vegan Protein Powder Market research report, visit Meticulous Research®.
Download Free Sample Report : https://www.meticulousresearch.com/download-sample-report/cp_id=5290

Contact:

Meticulous Market Research Pvt Ltd
Office No-202, 203,204,205,206
2nd Floor, Pushpak Business Hub,
Wakad, Pimpri-Chinchwad,
411057, India.
Phone: +9102066394988
CIN- U93000PN2013PTC149455

About Meticulous Research®

Meticulous Research® stands as a frontrunner in delivering unparalleled market intelligence reports, consulting services, and customized solutions. Committed to precision, Meticulous Research® empowers clients to stay ahead in the ever-evolving business landscape.

This release was published on openPR.