Market Outlook
Demand for vegan protein blend is tremendously growing among consumers all over the world. The growing trend of fitness and bodybuilding has a significant impact on the vegan protein blend market. Vegan protein blends are the protein blends which are completely free from dairy. Vegan protein blends are sometimes called as plant-based protein blends. These protein blends are prepared by plant-based products. Plant products such as peas, brown rice, and hemp are the common plant-based sources used for the manufacturing of vegan protein blends. As we all know proteins are the essential nutrients for the human body to structure and build muscles, but in our regular diet we do not get enough amount of protein that our body needs. So to fulfill that need vegan protein blends are the good source. The vegan protein blends are specially produced to target the vegan population. Vegan protein blends can be an important supplement for people who want to gain muscles and lose weight as the amount of fat in green plants are less as compared to animal products. Vegan protein blends also support human health by preventing diseases and inhibit allergies and carcinogens. Many gym goers are consuming vegan protein blends as vegan protein blends contain a sufficient amount of protein and fewer carbohydrates that help in bodybuilding. Vegan protein blends recover the muscles very fast which get broken due to heavy weight training. Demand for the vegan protein blend is tremendously increasing all over the world due to fast digestion and excellent results in bodybuilding. Such inclusion has enabled the local manufacturers of vegan protein-based supplement products to expand and reach the global market, which is expected to boost the growth of the vegan protein market.
Increasing Demand for Vegan Protein Blends Owing to the Rising Vegan Demographics.
The vegan population is increasing on a large scale globally. Europe holds a large number of vegan population; hence the demand for vegan protein blends is high in this region. Vegan population in the Americas and the Asia Pacific is also rising gradually. Some reasons behind the inclination of consumers towards vegan diet includes, people are becoming more aware for animal cruelty, people are focusing on a sustainable way of living, and water requirement in animal farming is two folds as compared to agriculture, hence people are inclined towards plant foods. By considering the above factors, it is expected that the demand for vegan protein blends would be high in the near future.
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Global Vegan Protein Blend: Market Segmentation
On the basis of packaging, the global vegan protein blend market has been segmented as-
- PET Bottles
- Plastic Pouches
- Jars
On the basis of the distribution channel, the vegan protein blend market has been segmented as –
- B2B
- B2C
- Chemist & Lifecare Stores
- Specialty Stores
- Online Stores
Global Vegan Protein Blend: Key Players
The global vegan protein blend market is evolving due to the growing muscles building trend. Many supplement manufacturers are focusing on vegan protein blends, due to increasing demand from consumer side. Some of the global key manufacturers and suppliers of Vegan protein blend are OPTIMUM NUTRITION, INC, Myprotein, All Naturals, True Protein Pty Ltd, TONE IT UP, Orgain, Inc., Revere, Garden Of Life, Your Super, Nuzest, Pure Encapsulations, LLC, Vega (US), Sakara Life, GNC Holdings, Inc., AMCO Proteins, Aloha Organic, DESIGNER PROTEIN, LLC, MuscleBlaze, Glanbia Performance Nutrition, Inc., Bodylogix, MuscleTech, Plnt Protein, Nutrimed Healthcare Private Limited, CHK Industries Private Limited, and Health Warrior. Except them, more industrialists and manufacturers are showing a keen interest in the Vegan protein blend as the demand for the vegan protein blend is growing owing to the increase in the number of health-conscious population.
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Opportunities for Market Participants:
The growing number of vegan population and the trend of fitness and muscles building among consumers globally is the key factor escalating the demand for the vegan protein blends. Most of the protein supplements available in the market are derived from raw materials which are animal-based, such as milk. However, as these products are not consumed by vegan population giant players such as OPTIMUM NUTRITION and Myprotein are focusing on developing plant-based protein products to strengthen their footprint in the growing vegan products industry. New and existing players have a good opportunity, they can advertise the product by providing sufficient knowledge of the product like: - Plant-based protein blends contains less fat as compared to the dairy protein products hence, for those fitness freaks who want to be fit and lose weight vegan protein blend is a good option. By considering the above factors, it is expected that the Vegan protein blend market will grow positive during the forecast period.
- Huge demand for vegan products come from Europe due to a large number of vegan population in this region. Hence, manufacturers should focus on this region. Also, manufacturers of vegan protein blend should focus on the Americas, and the Asia Pacific as the vegan population in these regions is growing gradually as well as the fitness trend in these regions is growing tremendously.
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The world has undergone a major shift in the way of living since the COVID-19 pandemic struck. A notable change in the functioning of various businesses and sectors has influenced their working mechanisms extensively. The food and beverage sector is no stranger to this change. Transparency Market Research (TMR) has studied many aspects concerning the difference between the trends in the pre-pandemic and post-pandemic world across the food and beverage industry.
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