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Vegan Protein Concentrate Market

Market Insights on Vegan Protein Concentrate covering sales outlook, demand forecast & up-to-date key trends

Vegan Protein Concentrate Market By Source (Brown Rice, Cranberry, Hemp, Chia), Form (Liquid, Powder), Nature (Organic, Conventional), Flavor (Unflavored, Flavored, Vanilla, Chocolate, Cookies & Cream), End-Use (Food & Beverages Processing - Bakery Products, Sports drinks and alcoholic beverages, Functional Foods and Dietary Supplements) & Region - Forecast 2022-2032

Vegan Protein Concentrate Market Overview

The vegan protein concentrate market is likely to record a strong CAGR 7% during the forecast period. The market is currently valued at US$ 11.79 Bn and is likely to reach US$ 21.68 Bn by 2032.

Attributes

Details

Vegan Protein Concentrate CAGR (2022-2032)

7%

Vegan Protein Concentrate CAGR Value (2022)

US$ 11.79 Bn

Vegan Protein Concentrate CAGR Value (2032)

US$ 21.68 Bn

Vegan protein or plant-based protein extracted from multiple sources are used in the applications like food and beverages, functional foods, pharmaceuticals, dietary supplements etc. The vegan protein concentrate is developed with the process of producing a concentrated form of multiple products that fulfil the nutritional needs that bodies ask for, increasing the demand for vegan protein concentrate.

The increasing awareness about the benefits of vegan protein-enhanced demand for vegan protein concentrate after the pandemic has risen as people got the time to explore their food habits. The strong supply chain creates better opportunities for the market in new regions. Competitors provide vegan protein concentrate in liquid and powder form with multiple flavours to target the larger consumer base, increasing the sales of vegan protein concentrate.

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What are the Key Drivers and Restraints to the Vegan Protein Concentrate Market?

The increasing vegan, vegetarian, and flexitarian population is anticipated to serve as one of the major drivers for the vegan protein concentrate market. As per Google Search, the vegan trend has increased by over four times in the period between 2012 and 2017.

An increase in animal concern and the growing awareness about the ill effects of the antibiotics and hormones that are present in animal products are some of the drivers for the increasing vegan and flexitarian population.

The increasing inclination of the consumers towards the consumption of vegan products is estimated to have a positive impact on the vegan protein concentrate market, increasing the demand for vegan protein concentrate.

The rise in health and fitness trends is estimated to boost the sales of vegan protein concentrate. Vegan protein concentrate is used as a dietary supplement as it contains a high amount of proteins which helps in muscle building and damage recovery.

Due to the hectic and sedentary lifestyle, the millennial population is focusing on joining the gym and other fitness facilities to maintain a healthy lifestyle. Also, as the health and fitness trends increase, it becomes necessary to fulfill the protein needs of the body because excessive exercise can cause tissue damage. Therefore, the demand for vegan protein concentrates is estimated to increase as it helps in tissue repair.

The consumer demand for clean-label ingredients and healthy products is estimated to drive the sales of vegan protein concentrate. The manufacturers are focusing on incorporating nutritionally rich and natural ingredients in their products. Thus, the demand for vegan protein concentrate is expected to increase in the food and beverage industry as it is aligned with the requirements of the manufacturers and end-use consumers.

Nandini Roy Choudhury
Principal Consultant
LinkedIn
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Which Region is the Leading Vegan Protein Concentrate Market?

North America is the biggest market for vegan protein concentrate and will hold the largest portion in the forecast period. Though, the demand for vegan protein concentrate is estimated to increase in the Asia Pacific region.

The presence of a large youth population, the influence of the western lifestyle, and increasing disposable income are some of the factors that are estimated to drive the sales of vegan protein concentrate in the Asia Pacific region.

According to the United Nations organization, the Asia Pacific region accounts for about 60% of the global youth population. Also, the health trends are increasing, and thus, the requirement for dietary supplements is estimated to increase, which is further expected to boost the vegan protein concentrate market.

How’s the Competitive Landscape in Vegan Protein Concentrate Market?

The key players of the vegan protein concentrate market are focusing on better taste, new flavours and texture. The competitors also focus on factors like approvals, tests and consumer reviews that drive the demand for Vegan protein concentrate business. This drives the sales of Vegan protein concentrate. 

Key players in vegan protein concentrate market include Glanbia plc, Tate & Lyle Plc, Archer Daniels Midland Company, Cargill, Incorporated, True Nutrition, Jarrow Formulas Inc, Nutrimed Healthcare, Axio Foods Inc and Fuji Plant Protein Labs.

Recent Market Development:

  • Cargill’s food and beverages chain has launched plant protein concentrate series with new and enriched flavors and label-friendly appeal, increasing the sales of vegan protein concentrate.
  • True Nutrition has launched its new line of plant-based protein that is gluten free, third party tested, soy-free and Non-GMO, grabbing consumer’s attention, increasing the overall sales of vegan protein concentrate.
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Report Scope

Report Attribute

Details

Growth Rate

CAGR of 7% from 2022 to 2032

Base year for estimation

2021

Historical data

2015 - 2020

Forecast period

2022 - 2032

Quantitative units

Revenue in USD billion, volume in kilotons, and CAGR from 2022 to 2032

Report coverage

Revenue forecast, volume forecast, company ranking, competitive landscape, growth factors, and trends, Pricing Analysis,

Segments covered

Source, Form, Nature, Flavour, End-Use, Distribution Channels, Region

Regional scope

North America; Western Europe, Eastern Europe, Middle East, Africa, ASEAN, South Asia, Rest of Asia, Australia and New Zealand

Country scope

U.S.; Canada; Mexico; Germany; U.K.; France; Italy; Spain; Russia; Belgium; Poland; Czech Republic; China; India; Japan; Australia; Brazil; Argentina; Colombia; Saudi Arabia; UAE; Iran; South Africa

Key companies profiled

Glanbia plc, Tate & Lyle Plc, Archer Daniels Midland Company, Cargill, Incorporated, True Nutrition, Jarrow Formulas Inc, Nutrimed Healthcare, Axio Foods Inc, Fuji Plant Protein Labs

Customization scope

Free report customization (equivalent to up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. 

Frequently Asked Questions

North America is the biggest market for the vegan protein concentrate market and is expected to hold a big portion of the market in the forecast period due to the rising awareness around the vegan protein in this region.

Key competitors holding substantial vegan protein concentrate market share are Glanbia plc, Tate & Lyle Plc, Archer Daniels Midland Company, Cargill, Incorporated, True Nutrition, Jarrow Formulas Inc, Nutrimed Healthcare, Axio Foods Inc and Fuji Plant Protein Labs.

Demand for vegan protein concentrate is likely to rise with the factors like advent of corona virus, spreading awareness about healthy diet and veganism. This increases the demand for vegan protein concentrate.

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Nandini Roy Choudhury
Principal Consultant
LinkedIn
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Vegan Protein Concentrate Market