Vegan Protein Powder Market Size, Share & Trends Analysis Report By Source (Hemp Protein, Pea Protein), By Flavor (Vanilla, Strawberry), By End-use, By Distribution Channel, By Region, And Segment Forecasts, 2023 - 2030

Vegan Protein Powder Market Size, Share & Trends Analysis Report By Source (Hemp Protein, Pea Protein), By Flavor (Vanilla, Strawberry), By End-use, By Distribution Channel, By Region, And Segment Forecasts, 2023 - 2030

Vegan Protein Powder Market Growth & Trends

The global vegan protein powder market size is projected to reach USD 714.2 million by 2030, registering a CAGR of 9.5% from 2023 to 2030, according to a new report by Grand View Research, Inc. The growth in the consumption of vegan protein powder can be attributed to the increasing health consciousness and evolving lifestyles of the youth in recent times.

Vegan protein powders are typically derived from plant-based sources such as peas, rice, hemp, or soy, providing a diverse range of options to suit different dietary preferences. The market has been fueled by the growing awareness of the benefits associated with vegan and vegetarian lifestyles, coupled with the availability of high-quality vegan protein powders.

Pea is the leading source of vegan protein powder. Pea protein powder offers a favorable nutritional profile, rich in protein, and low in fat and carbohydrates. It is often marketed as a complete protein source due to its amino acid composition. Pea protein powder can be easily incorporated into various recipes, such as protein shakes, smoothies, baked goods, and savory dishes, making it a versatile ingredient that fits diverse dietary preferences and culinary needs.

Chocolate and coffee-flavored protein powder dominated the market in 2022. Chocolate and coffee flavors are highly versatile and can be easily incorporated into a wide range of recipes and applications. Vegan protein powders with chocolate or coffee flavors can be mixed with water or plant-based milk to create protein shakes, added to smoothies, blended into desserts, or used as ingredients in baked goods. Their versatility allows consumers to customize their protein consumption and enjoy their preferred flavors in various ways.

Vegan Protein Powder Market Report Highlights

• Pea protein is the most preferred source of vegan protein powder. Pea protein powder is naturally free from common allergens such as dairy, soy, gluten, and nuts, making it suitable for individuals with allergies or dietary restrictions. It also provides an excellent option for those with sensitivities or intolerances, allowing them to enjoy a convenient and versatile protein source without any adverse reactions
• Algae-based (Spirulina) is a very lucrative and new source of protein. Algae, such as spirulina and chlorella, are highly sustainable protein sources. They have a rapid growth rate, require minimal land, water, and fertilizers, and can be cultivated in various environments, including non-arable land and seawater. The sustainable nature of algae protein powders aligns with the increasing consumer demand for environmentally friendly and socially responsible products
• Chocolate & coffee cumulatively are the most consumed flavors of vegan protein powder. Chocolate and coffee are widely recognized and preferred flavors across various food and beverage categories. They have a long-standing association with indulgence, comfort, and delight. Consumers are often drawn to flavors they are familiar with and have positive associations. Chocolate and coffee flavors in vegan protein powders tap into this familiarity, making them highly appealing options
• Vegan protein powders are highly used as dietary supplements. These powders are a convenient and concentrated source of protein. They allow individuals to supplement their daily protein intake, especially for those who struggle to meet their protein requirements through whole food sources alone. Vegan protein powders offer a way to increase protein intake, particularly for individuals following vegan or vegetarian diets that may have limited protein options
• Vegan protein powders are widely sold offline in super and hypermarkets, convenience stores, and nutrient supplement stores. However, online markets are slowly replacing offline distribution channels and attracting customers with a versatile range of vegan proteins, clearance sales, and discounts

Please note The report will be delivered in 4-8 business days upon order notification.