Buy Now
$4,123 $4,850
15% off
$4,840 $6,050
20% off
$5,845 $8,350
30% off
Buy now
Premium Report Details
Base Year: 2024
Companies covered: 12
Tables & Figures: 145
Countries covered: 19
Pages: 220
Download Free PDF
Vegan Protein Powder Market
Get a free sample of this report
Get a free sample of this report Vegan Protein Powder Market
Is your requirement urgent? Please give us your business email for a speedy delivery!
Vegan Protein Powder Market Size
The global vegan protein powder market was valued at USD 4.4 billion in 2024, with expectations to reach USD 10.2 billion by 2034, growing at a CAGR of 8.8%.
The market for vegan protein powders focuses on the production of plant-based protein powder that utilize pea, soy, rice, hemp, and others as their main sources. These powders are largely consumed and incorporated into products aimed towards athletes, for meals replacements, and functional foods directed towards health-conscious individuals, and vegans or vegetarians. Their use cuts across sports and fitness nutrition, dietary supplements, bakery, dairy options, and even infant nutrition do, with new increase in adoption for plant-based RTD beverages and meal formulations. The growth of the market is driven by consumers’ migration to clean-label, allergen-free, and eco-friendly protein alternatives as a response to ethical food options and health-focused choices for food.
Shifting towards environmentally friendly and ethical diets makes consumers look more towards non-animal-based proteins, which is highly beneficial for this market players. To keep up with changes in lifestyles of consumers, leading industry respondents actively introduce new products with improved profiles of amino acids, increased digestibility, and enhanced supplementation.
The growth of e-commerce, influencer-marketing, and the increased entry of retail shops into the market is stimulating market growth by establishing vegan protein powders as a common dietary choice among many people instead of a reserved category.
For instance, growth projections indicate that the vegan food market will reach USD 36.3 billion by 2030, growing at a CAGR of 6.4%. Remarkably, 2022 saw growth in sales of plant-based foods 3 times compared to previous years. Furthermore, during 2022, around 2 million Americans were completely vegan. Other statistics about veganism reveal that 67% of individuals who follow the vegan diet are women, whereas 33% are men. These all conclude that there is a growing and booming market ahead for the market also.
Vegan Protein Powder Market Trends
There has been significant development in the market of vegan protein powders due to the advancement in technology and change in consumers preferences over time. Innovations like precision fermentation and enzymatic processing are making extract, taste, and digest of protein easier. Newer plant-based protein sources like algae, chickpeas, and mung beans are becoming popular, alongside hybrid formulations that combine different sources of proteins for better amino-acid profiles. Furthermore, microencapsulation is helping increase bioavailability and nutrient stability, aiding not just athletes and fitness enthusiasts, but the general population as well who focus on nutrition.
Complexity within the region is further increased as the stringent rules and marking policies force businesses to look towards organically certified and clean label products. The shift towards personalized nutrition makes the room for brands to create tailored blends for specific dietary requirements. Increased awareness towards health and the adoption of plant-based diets is fueling the demand in the latter parts of the world, particularly Asia and Latin America.
Additionally, the vegan protein powder market growth is further supported by the increased popularity of DTC and ecommerce shopping which offer more vegan protein powder options. The economic gap of different regions alongside the processes and innovations in place, allow for the market expansion of these protein powders as consumers start to look beyond the functional, innovative, and sustainable usage of protein.
For example, in June 2022, A&B Ingredients expanded their offer of plant proteins with a new range of textured faba bean proteins. This type of innovative product is influencing the attraction of customer towards vegan protein powered products.
Vegan Protein Powder Market Analysis
The vegan protein powder market by product is segmented into hemp protein, soy protein isolate, soy protein concentrate, rice protein isolate, rice protein concentrate, pea protein isolate, pea protein concentrate, spirulina protein, quinoa protein, protein blends. The soy protein concentrate accounted for 27.5% of the market share in 2024 and is expected to grow with the CAGR of 9.7% in 2034.
The market for soy protein concentrate is the most dominant segment in the vegan protein powder market due to the high percentage of protein having the superior amino acid profile, and excellent solubility. In addition, the soy protein is very affordable and versatile which makes it well accepted in sports nutrition and functional foods. Additionally, the strong brand presence in the market coupled with high customer availability leads to wide acceptance of soy protein concentrate.
Another segment is also growing like hemp protein due to its high omega-3 content, along with fiber and easy digestibility, hemp protein is cherished by most health conscious buyers. Rice protein is available in isolates and concentrate, differs from others by its hypoallergenic feature along with high easiness to digest for people with sensitive diet. Pea protein, existing in both isolates and concentrates forms, is famous for its high lysine content which helps in muscle growth and clean label products.
The vegan protein powder market is segmented in organic and conventional by nature. Conventional segment holds the market size of USD 3.1 billion in 2024 and expected to grow at a faster rate of 8.4% CAGR.
The conventional vegan protein powder is cheaper and more widely used, it is most dominant in the vegan protein powder industry. To achieve lower prices, manufacturers use more conventional protein sources, which are affordable and have high functional and protein content. The extensive use of functional and mainstream food and beverage products along with strong retail outlet presence makes sure this segment retains high dominance.
As consumers increasingly seek clean-label, pesticide/non-GMO/ethically sourced proteins, the organic segment of the market is growing as well. Evidence of increased awareness for sustainable farming as well as ethical sourcing and added nutrition quality is rising. Organic Vegan protein powders, despite being high-priced, are appealing to health and eco-conscious consumers in the premium nutrition and specialty health food segments.
Based on flavor the vegan protein powder market is segmented into unflavoured, chocolate, vanilla, strawberry, others. Chocolate segment accounts for market size of USD 1.3 billion in 2024 and expected to grow at a faster rate of 9.4% CAGR to reach a larger target market.
Within the market of vegan protein powders, chocolate leads as the most preferred flavor due to its popularity, recognition, as well as its ability to disguise the earthy undertone of plant-based proteins. Furthermore, its rich taste profile makes it easy for fitness enthusiasts, athletes, and even casual consumers who are trying to increase their protein intake to reap the benefits. Also, chocolate powders are very versatile as they can be blended with almond milk, oats, smoothies, etc.
With constantly shifting consumer tastes, companies have also introduced innovations like dark chocolate, mocha, with cacao powders to fill the shifts. Ever Increasing demand for the combination of tasteful and nutritious food only boosts the appeal of chocolate, making it the most popular flavor throughout the market, whether in conventional or organic vegan protein powders.
On the basis of application, the vegan protein powder market is segmented into sports nutrition, beverages, functional food, others. Functional food segment accounts for market share of 35.4% in 2024 and expected to grow at a faster rate of 9.2% CAGR to reach a larger target market.
As the emphasis on health and wellness increases, the market for vegan protein powder has seen a notable increase in the sales of the derived functional food section. In addition to being consumed as protein snacks, they serve the purpose of meal replacement and can be used as a milk substitute since these foods are easy to incorporate and aid in muscle recovery, gut health, and weight management.
here is also a rising supply-side market of plant-based products which results in cleaner label products being purchased. These triggers the need for newer enriched products that aid in digestion while tasting better. Moreover, the online and offline retailing of these products has grown which has made the products more accessible, leading to their increased consumption as a staple food item.
For instance, in 2021, the valuation of the global market for functional foods and beverages was around USD 281.14 billion. The market is likely to expand at a CAGR of almost 9.5% from 2021 to 2028. For 2028, the market is forecast to be worth over half a trillion U.S. dollars. This growth of functional food open opportunities for the market in coming years.
Based on distribution channel the vegan protein powder market is segmented in hypermarkets & supermarkets, specialty stores, online retail, others. Hypermarkets & supermarkets hold a significant market share of 27.8% in 2024 with an expected CAGR of 8.9% in 2034.
Supermarkets and hypermarkets lead the sales of vegan protein powders as they have the widest consumer base, largest assortment of products and credibility of retail chains. Their sales volume is high in the segment because they offer attractive prices, promotions and instant availability of products which caters to the needs of the mainstream shoppers.
Specialty stores address the needs of users who are more health-conscious and are willing to pay more for organic and specialty vegan protein powders with professional consultation. At the same time, online retailing is growing faster because it offers ease of access, more variety of products, and DTC contact. Sales on e-commerce platforms, brand sites, and via subscriptions are driven by personalized offers, influencer marketing, and discounts which increases market coverage.
In the vegan protein powders market North America dominated the market by accounting USD 1.6 billion in 2024 and is expected to grow at a CAGR of 3.6% in 2034.
Consumer awareness, demand of plant-based nutrition, and developed health and wellness sectors of the economy have led to North America being the largest vegan protein powder market. The increase in the adoption of vegan diets, increased fitness culture, and the demand for functional foods is supporting the region’s dominance. Canada is increasingly seeing a shift in consumer behaviour towards organic and clean-label products, government support of plant-based industries, and more health-conscience citizens boosts Canada' contribution to this market. Moreover, the U.S. is benefiting the most from this expansion with their vast retail outlets, innovative vegan protein products, and established online shopping.
Vegan Protein Powder Market Share
In the vegan protein powder industry, Archer-Daniels-Midland Company, AMCO Proteins, Bunge Global SA, Cargill, Incorporated, Garden Of Life, Ingredion are the top 5 companies which holds a large share due to their broad product portfolio and established market position. These companies benefit from their global presence and brand name in the market.
In March 2021, Ingredion Incorporated announced two new additions to its plant-based portfolio produced at the company’s new pea protein manufacturing facility in South Sioux City, Nebraska VITESSENCE Pulse 1853 pea protein isolate and PURITY P 1002 pea starch. The ingredient solutions are 100% sustainably sourced from North American farms, enabling food & beverage manufacturers to create innovative plant-based food & beverages.
Vegan Protein Powder Market Companies
Some of the eminent market participants operating in the vegan protein powder materials industry include:
In May 2022, Supercluster Pi (House of Brands) initiated a new division by launching Vegan Way, which debuted a pioneering vegan protein powder.
In February 2023, Archer Daniels Midland Company, which is based in the United States, opened a new modern production plant located in Spain for the production of probiotics and other products with an investment of USD 30 million.
Vegan Protein Powder Industry News:
The vegan protein powder market research report includes an in-depth coverage of the industry with estimates and forecast in terms of revenue in USD Billion from 2021 – 2034 for the following segments:
Click here to Buy Section of this Report
Market, By Product
Market, By Nature
Market, By Flavor
Market, By Application
Market, By Distribution Channel
The above information is provided for the following regions and countries: