Vegan Protein Powder Industry Outlook 2025-2029: Market Set to Cross $7.31 Billion Milestone

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How Large Will the Vegan Protein Powder Market Size By 2025?
In recent years, there has been a marked increase in the size of the vegan protein powder market. The market is projected to expand from $4.87 billion in 2024 to $5.24 billion in 2025, showing a Compound Annual Growth Rate (CAGR) of 7.7%. Factors attributing to the growth in this period include a rising consciousness about health and fitness, an uptick in vegetarianism and veganism trends, escalating concerns about animal welfare, an upswing in the plant-based food industry, and increased accessibility of vegan products.

How Big Is the Vegan Protein Powder Market Size Expected to Grow by 2029?
In the coming few years, the vegan protein powder market is anticipated to witness significant growth, with an expected surge to $7.31 billion in 2029, at a compound annual growth rate (CAGR) of 8.7%. Factors contributing to this growth during the forecast period include an increase in health-conscious consumers, higher demand for sustainable and eco-friendly products, expansion of the vegan food market, a growing preference for plant-based diets, and government campaigns advocating for healthier eating habits. Key trends to note during this period are technological progress in extracting plant-based proteins, innovation in terms of flavoring and product formulations, the emergence of new plant protein sources, a greater emphasis on organic and non-GMO certifications, and personalized nutrition in vegan products.

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Which Key Market Drivers Powering Vegan Protein Powder Market Expansion and Growth?
The anticipated growth of the vegan protein powder market can be linked to the increasing number of vegans worldwide. A vegan is a strict vegetarian who refrains from consuming any animal products including meat, dairy products, and eggs. Vegan protein powder has become their go-to source for meeting daily protein needs due to its ease and convenience. For example, as of January 2023, the US Department of Agriculture's Foreign Agricultural Service, a government agency in the US, reported that Germany held the highest vegetarian rate. In 2022, over 1.5 million vegans resided in Germany, 1.58 million individuals identified themselves as vegans, and nearly 8 million people were vegetarian consumers. This is a significant growth from a decade ago, where only 0.1 million individuals were vegans. Consequently, the expanding vegan population has become a key driver for the vegan protein powder market's growth.

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Which Fast-Growing Trends Are Poised to Disrupt the Vegan Protein Powder Market?
A significant trend emerging in the vegan protein powder market is the innovation in plant-based protein sources. To maintain their market presence, key players in the vegan protein powder industry are debuting novel, innovative plant-based protein products. For instance, Dymatize Enterprises LLC, an American supplement and bodybuilding company, unveiled Dymatize Complete Plant Protein in July 2022. This product is fueled by five different types of plant-based proteins, making it a vegan and plant-based nutritional powerhouse. It features a comprehensive amino acid profile that guarantees optimal protein delivery either pre or post workout. Notably, this new plant-based protein concoction is extremely distinctive and versatile, blending smoothly with water, smoothies, and other macro-friendly meals. It's free of artificial colors, sweeteners, soy, and dairy ingredients.

What Are the Emerging Segments in the Vegan Protein Powder Market?
The vegan protein powder market covered in this report is segmented -

1) By Type: Soy Protein, Spirulina Protein, Wheat Protein, Pumpkin Seed Protein, Hemp Protein, Pea Protein, Rice Protein, Other Types
2) By Age Group: Millennials, Generation X, Baby Boomers
3) By Nature: Organic, Conventional
4) By Distribution Channel: Modern Groceries, Online Retail Or E-Commerce, Natural And Specialty Retail, Pharmacies And Drug Stores, Health Food Stores, Convenience Stores, Other Distribution Channels
5) By Application: Sports Nutrition, Additional Nutrition

Subsegments:
1) By Soy Protein: Isolate, Concentrate, Textured Soy Protein
2) By Spirulina Protein: Powder, Tablets Or Capsules
3) By Wheat Protein: Gluten, Wheat Protein Isolate
4) By Pumpkin Seed Protein: Powder, Oil Extract
5) By Hemp Protein: Hemp Protein Powder, Hemp Seed Oil
6) By Pea Protein: Pea Protein Isolate, Pea Protein Concentrate
7) By Rice Protein: Brown Rice Protein, White Rice Protein
8) By Other Types: Sunflower Seed Protein, Chia Seed Protein, Quinoa Protein, Other Plant-Based Proteins

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Who Are the Global Leaders in the Vegan Protein Powder Market?
Major companies operating in the vegan protein powder market include Cargill Incorporated., Archer-Daniels-Midland Company, Abbott Laboratories Ltd., Kerry Group plc, Amway Corporation, Ingredion Incorporated, Glanbia plc, GNC Holdings LLC, The Scoular Company, Now Health Group Inc., Farbest-Tallman Foods Corp, MusclePharm Corp, Nutiva Inc., Nutrivo LLC, True Nutrition, Transparent Labs LLC, Nutrex Research Inc., Optimum Nutrition Inc., Sunwarrior LLC., Garden of Life LLC, Supplement Manufacturing Partners (SMP Nutra), Archon Vitamin LLC, A&B Ingredients Inc., The Green Lab LLC, Naked Nutrition International, Orgain Inc., AGT Food and Ingredients Inc., Zywie Ventures Private Limited, Nuzest IP Pty Limited, GlobalRidge LLC

Which are the Top Profitable Regional Markets for the Vegan Protein Powder Industry?
North America was the largest region in the vegan protein powder market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the vegan protein powder market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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