Demand for vegan protein in US and Canada will be led by sports nutrition industry. Growing level of health consciousness among consumers and the expansion of vegan populations is likely to fuel the North American market. Furthermore, the US and Canada non-vegan (meat) spending is likely to reduce by 2022 and beyond, and this will continue to benefit vegan protein manufacturing companies.
The Vegan Protein Industry sales study offers a comprehensive analysis on diverse features including production capacities, Vegan Protein demand, product developments, sales revenue generation and Vegan Protein market outlook across the globe.
market research report by Fact.MR, (Leading business and competitive intelligence provider) on global Vegan Protein market sales initiates with an outlook of the market, followed by the scrutiny of the demand and consumption volumes and share and size of various end-use segments
The global vegan protein is likely to witness sturdy growth during 2021-2031. Demand for vegan protein will witness steady recovery in short-term, with sanguine growth outlook in the long-run. Increasing awareness regarding importance of healthy diet will mean limited opportunities in near future, however, consumption of vegan protein by fitness enthusiast working out and following their diet regularly will provide momentum.
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The readability score of the Vegan Protein market demand report is good as it offers chapter-wise layout with each section divided into a smaller sections.
The report encompasses graphs and tables to show the entire assembling. Pictorial demonstration of the definite and estimated values of key segments is visually appealing to readers.
This Vegan Protein market outlook report explicates on vital dynamics such as the drivers, restraints and opportunities for key players and competitive analysis of Vegan Protein along with key stakeholders as well as emerging players associated with the manufacturing of product.
The Key trends Analysis of Extended Vegan Protein market also provides dynamics that are responsible for influencing the future sales and demand of over the forecast period.
Key Trends:
- Growing Consumer Awareness: There was a notable increase in consumer awareness regarding health, environmental, and ethical concerns associated with animal-based protein sources. Many people were adopting vegan or vegetarian diets, or incorporating more plant-based options into their meals.
- Plant-Based Meat Alternatives: Plant-based meat alternatives, such as Beyond Meat and Impossible Foods, were gaining popularity. These products aimed to mimic the taste, texture, and appearance of traditional meat products, making it easier for consumers to transition to plant-based diets.
- Diversification of Protein Sources: Companies were exploring a wide range of plant-based protein sources beyond soy and wheat, including peas, lentils, chickpeas, and algae. This diversification allowed for more options in terms of taste and nutrition.
- Clean Label and Minimal Ingredients: Consumers were increasingly seeking products with clean labels, containing minimal, recognizable ingredients. Manufacturers were responding by developing products with fewer additives and preservatives.
- Functional and Nutritional Benefits: Vegan protein products were being formulated to offer additional health benefits, such as enhanced nutritional profiles, added vitamins and minerals, and functional ingredients like probiotics.
- Sustainable and Environmentally Friendly: Sustainability was a significant driver in the vegan protein market. Consumers were concerned about the environmental impact of animal agriculture, leading to the development of more sustainable plant-based protein options.
- Increased Availability: Vegan protein products were becoming more widely available in mainstream grocery stores and restaurants, making them accessible to a broader consumer base.
- Rising Investment: The vegan protein market was attracting investments from both established food companies and venture capital firms. This influx of capital was driving innovation and the development of new products.
- Plant-Based Dairy Alternatives: Beyond meat, the market for plant-based dairy alternatives, including milk, yogurt, and cheese, was also growing rapidly. These products were often made from soy, almonds, cashews, oats, and other plant sources.
- Global Expansion: The vegan protein trend was not limited to Western countries. It was gaining traction globally, with companies and startups developing plant-based products tailored to regional tastes and preferences.
- Online Retail and Direct-to-Consumer Sales: Many vegan protein products were available for purchase online, and some companies were adopting direct-to-consumer sales models to reach a broader audience.
Key Companies Profiled
- WhiteWave Foods
- Private Label Superfoods
- MRM
- Glanbia PLC
- Cargill
- AGT Food & Ingredients
- Archer Daniels Midland (ADM) Company
- Country Life LLC
- Hammer Nutrition Direct
- Ghost LLC
- Australian Natural Protein Company
- Garden of Life LLC
- ALOHA
- PURIS
- Genuine Health Inc.
Competitive Landscape
Many leading manufacturers and suppliers have longstanding contracts with end-users to supply vegan proteins. The increasing importance of plant-based nutrition, positive outlook for the sport nutrition industry, and emerging fitness trends leading to high demand for the protein-rich diet are some of the factors which are likely to create huge opportunities for market participants in vegan protein and supplements market.
Further, many vegan protein manufacturers are focusing on adopting the strategies such as product innovations, mergers & acquisitions, developments, joint venture, collaborations, and partnerships. For instance, In December 2017, Garden of Life partnered with Nestle and came with USDA Organic and Non-GMO Project Verified nutrition, based on real, whole and plant-based foods.
Segmentation of Vegan Protein Industry Research
- By Source
- Quinoa
- Green Peas
- Nuts
- Oats
- Soy Protein
- Others (potatoes, rice, leafy green vegetables, etc.)
- By Nature
- Organic
- Conventional
- By Form
- Liquid
- Powder
- By Flavor
- Unflavored
- Vanilla
- Chocolate
- Others (banana, strawberry, etc.)
- By Application
- Beverages
- Supplements
- Nutritional Powders
- Dairy Products
- Others (protein bars, snacks, animal food, etc.)
- By Region
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific
- Japan
- Middle East and Africa
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