Vegan Protein Concentrate Market Outlook
Vegan protein concentrate is made up from various sources and is utilized in various industries such as food and beverage, pharmaceuticals, functional foods, dietary supplements, etc. The vegan protein concentrate is developed with the main focus of providing a concentrated form of the products which fulfill the nutritional requirement of the body. Vegan protein concentrate is available in liquid and powder form and is also available in various flavours to attract a large consumer base.
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Increasing Health Trends among the Millennial Population Drives 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 as increased by over four times in the period between 2012 and 2017. Increase in animal concern, and the growing awareness about the ill-effects of the antibiotics and hormones that are present in the 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.
The rise in health and fitness trends is estimated to boosts 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.
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The consumer demand for clean-label and healthy products is estimated to drive the vegan protein concentrate market. 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.
Vegan Protein Concentrate Market: Regional Analysis
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 the dietary supplements is estimated to increase, which is further expected to boosts the vegan protein concentrate market.
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Vegan Protein Concentrate Market: Key Participants
Few of the key market players in the vegan protein concentrate market are:
- Glanbia plc
- Tate & Lyle PLC
- Archer Daniels Midland Company
- Cargill, Incorporated
- True Nutrition
- Jarrow Formulas, Inc.
- Nutrimed Healthcare
- Axiom Foods, Inc.
- Fuji Plant Protein Labs
The research report presents a comprehensive assessment of the vegan protein concentrate market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as source, form, nature, flavour, end-use, and distribution channel.