Press release
Vegan Protein Powder Market Projected to Reach $8.03 Billion by 2029, According to Meticulous Market Research Pvt. Ltd.
Meticulous Research®, a premier global market research firm, has published a new 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." This in-depth analysis provides valuable insights into the dynamic vegan protein powder market, which is poised to reach $8.03 billion by 2029, growing at a robust CAGR of 7.3% from 2022 to 2029.
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
Market Growth Drivers
The vegan protein powder market is experiencing significant growth, fueled by several key factors:
1. Rising Interest in Plant-Based Nutrition: Consumers are increasingly gravitating towards plant-based diets, driven by health considerations and ethical concerns.
2. Expansion of Sports & Health Nutrition: The growing focus on health and fitness has led to a surge in demand for specialized nutrition products.
3. Adoption of Personalized Nutrition: With an increasing number of individuals seeking tailored nutritional solutions, vegan protein powders are becoming more popular.
4. Emerging Markets: The expanding middle class and rising health awareness in regions such as Asia-Pacific, Latin America, and the Middle East & Africa present lucrative opportunities for market players.
5. New Product Launches: The introduction of innovative plant-based protein supplements continues to drive market expansion.
Challenges and Opportunities
Despite the promising outlook, the market faces certain challenges:
• Preference for Whey-Based Proteins: Traditional whey proteins remain popular, potentially limiting the growth of vegan alternatives.
• Demand for Soy-Free and Gluten-Free Options: The increasing demand for proteins that cater to specific dietary needs can impact market dynamics.
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Segment Analysis
The market is meticulously segmented by type, application, distribution channel, and geography:
1. Type: The report segments the vegan protein powder market into soy protein, rice protein, pea protein, spirulina protein, pumpkin seed protein, hemp protein, and other plant-based proteins. In 2022, soy protein is expected to dominate the market due to its availability, cost-effectiveness, and high nutritional value. However, pea protein is anticipated to experience the highest growth rate, driven by its allergen-free, gluten-free, and lactose-free properties, and its rising popularity among vegetarians and vegans.
2. Application: The market is divided into sports nutrition and additional nutrition. The sports nutrition segment is projected to hold a significant share in 2022, driven by the increasing development of sports-oriented products and the growing number of athletes and sports events. This segment is also expected to witness the highest growth rate, as athletes seek balanced and nutrient-dense diets.
3. Distribution Channel: Segmentation includes modern groceries, natural & specialty retail, online retail, health food stores, pharmacies & drug stores, convenience stores, and others. Modern groceries are anticipated to lead the market in 2022 due to the widespread presence of supermarkets and hypermarkets. However, the online retail segment is expected to grow at the highest CAGR, as consumers increasingly favor the convenience, discounts, and extensive product selection offered by e-commerce platforms.
4. Geography: In 2022, North America is projected to hold the largest market share, supported by high demand for nutritional supplements, increasing health awareness, and a well-established nutraceutical industry. Conversely, the Asia-Pacific region is expected to exhibit the highest growth rate during the forecast period. Factors driving this growth include rising participation in recreational activities, improving living standards, an expanding number of fitness centers, a growing vegetarian population, and rapid urbanization.
Download Free Sample Report : https://www.meticulousresearch.com/download-sample-report/cp_id=5290
Key Players
The key players operating in the vegan protein powder market are Glanbia plc. (Ireland), Now Health Group, Inc. (U.S.), Nutiva Inc (U.S.), The Simply Good Food Co (U.S.), Iovate Health Sciences International Inc. (Canada), MusclePharm Corporation (U.S.), Kerry Group Plc (Ireland), CytoSport, Inc. (U.S.), The Nature's Bounty Co. (U.S.), Reliance Vitamin Company, Inc. (U.S.), Herbalife Nutrition, Inc. (U.S.), Danone SA (France), General Nutrition Centers (GNC) Holdings, Inc. (U.S.), Orgain Inc. (U.S.), and True Nutrition (U.S.).
Key questions answered in the report:
• Which are the high-growth market segments in terms of type, application, distribution channel, and geography?
• What is the historical market size for plant-based protein powders across the globe?
• What are the market forecasts and estimates for the period of 2022-2029?
• What are the major drivers, restraints, challenges, opportunities, and trends in the vegan protein powder market?
• Who are the major players in the global market, and what are their market shares?
• Who are the major players in various countries, and what are their market shares?
• How is the competitive landscape?
• What are the recent developments in the vegan protein powder market?
• What are the different strategies adopted by the major players in the market?
• What are the key geographic trends, and which are the high-growth countries?
• Who are the local emerging players in the vegan protein powder market, and how do they compete with other players?
Related links:
Plant-based Protein Market: https://www.meticulousresearch.com/product/plant-based-protein-market-5031
Pea Protein Market: https://www.meticulousresearch.com/product/pea-protein-market-5054
Vegan Food Market: https://www.meticulousresearch.com/product/vegan-food-market-5788
Plant-based Protein Processing Equipment Market: https://www.meticulousresearch.com/product/plant-based-protein-processing-equipment-market-5341
Alternative Protein Processing Equipment Market: https://www.meticulousresearch.com/product/alternative-protein-processing-equipment-market-5342
Antifreeze Protein Market: https://www.meticulousresearch.com/product/antifreeze-protein-market-5435
Protein Expression Market: https://www.meticulousresearch.com/product/protein-expression-market-5615
Contact:
Mr. Khushal Bombe
Meticulous Market Research Inc.
1267 Willis St, Ste 200 Redding,
California, 96001, U.S.
USA: +1-646-781-8004
Europe : +44-203-868-8738
APAC: +91 744-7780008
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https://www.meticulousresearch.com/
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About the company:
We are the trusted research partners for leading businesses around the world, providing market intelligence focused towards building revenue transformation strategies. Our research is used by Fortune 500 organizations to attain success by scouting next generation revenue opportunities well ahead of their competition.
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