{"id":5945,"date":"2023-05-19T13:00:59","date_gmt":"2023-05-19T12:00:59","guid":{"rendered":"https:\/\/plantbasedworldpulse.com\/?p=5945"},"modified":"2023-07-03T16:45:23","modified_gmt":"2023-07-03T15:45:23","slug":"health-conscious-consumers-and-significant-innovation-fuels-vegan-protein-powder-sales","status":"publish","type":"post","link":"https:\/\/plantbasedworldpulse.com\/health-conscious-consumers-and-significant-innovation-fuels-vegan-protein-powder-sales\/","title":{"rendered":"Health Conscious Consumers and Significant Innovation Fuels Vegan Protein Powder Sales"},"content":{"rendered":"
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Sales of vegan protein powder have grown significantly in recent years.\u202f<\/span>Future Marketing Insights (FMI) reports<\/span><\/a>\u202fthat the market reached $4,326 million in 2022 and predicts an annual growth of 7.2% for the 2022 to 2032 period. The biggest market is North America, followed by Europe, with Asia Pacific as the fastest-growing region. Major players in the US include Archon Vitamin, Sequel Natural, Hormel Foods Corporation, Vital Amine, and NOW Health Group. Despite competition from corporations, a growing number of start-ups are producing smaller batches of artisanal blends and gathering loyal followers. And despite the sometimes macho image, there is an increasing number of vegan protein powders aimed at women at different life stages such as motherhood, menopause and ageing.\u202f<\/span>\u00a0<\/span><\/p>\n According to a recent\u202f<\/span>Allied Market Research (AMR) report on<\/span><\/a>\u202fvegan protein powder, millennials are the largest age group, but sales from Generation X and Baby Boomers are strong and predicted to account for nearly half of all sales by 2031. The report says health-conscious consumers are mainly responsible for driving demand for all plant-based protein, including meat substitutes and protein powder. Other factors are consumers seeking to reduce their impact on animals and the environment and customers with dairy allergies and intolerances.\u202f<\/span>\u00a0<\/span><\/p>\n The growth of plant-based protein powder follows a more general increase in demand for plant-based food. In 2021\u202f<\/span>plant-based food dollar sales in the US grew by 6%,<\/span><\/a>\u202fthree times faster than overall food sales. Ethical, environmental and health reasons drive this shift. People eating plant-based are more likely to consume supplements than the general population. A\u202f<\/span>National Institute of Health survey<\/span><\/a>\u202f found that 66% of vegans consume vitamin supplements compared to 25% of vegetarians and 30% of omnivores.\u202f<\/span>The Vegan Society recommends<\/span><\/a>\u202fsupplementation to achieve a balanced diet. So those trending towards plant-based eating are a natural target market for protein powder.\u202f<\/span>\u00a0<\/span><\/p>\n Vegan protein powder is also benefitting from significant innovations, such as developing animal-free whey powder made using precision fermentation. Two North American brands are making protein powder with <\/span>Perfect Day whey protein,<\/span><\/a> which is also used in ice cream and cheese. Canadian company <\/span>Natreve is launching its animal-free brand Mooless, and<\/span><\/a> Perfect Day is launching its powder under the <\/span>California Performance Co<\/span><\/a> brand. They will be bioidentical to animal whey protein and deliver the same functional and nutritional benefits.<\/span>\u00a0<\/span><\/p>\n <\/p>\n