Vegan Protein Market To Record Sturdy Growth By 2021 – 2031

What is Driving Demand for Vegan Protein?

Evolving demand for more organic and natural food compared to that of synthetic food continues to drive the demand for vegan protein in day to day dietary. Aesthetic and bodybuilding applications continue to be a lucrative avenue for vegan protein manufacturers. Sales of vegan protein has gone through a recurring boom-and-bust, which has remained an enduring challenge for manufacturers. The fluctuation was primarily evident as most of the end-users preferred animal-based protein than plant-based protein for which manufacturers remained unprepared with respect to capacity utilization and expansion. Apart from being an essential macronutrient for tissue repair, and enzymes and hormone production, the use of vegan protein is widely evident to aid weight loss and help people strengthen their muscles. Vegan proteins are being increasingly sought-after to prevent the risk of type-2 diabetes and cardiovascular diseases accompanied with the consumption of meat products.

Sports Nutrition Industry Likely to Augment Vegan Protein Sales

Numerous industries around the globe have been impacted by COVID-19-induced slowdown while some of them remained withstand. The vegan protein supplement industry showed a tremendous growth owing to rising consumer awareness, growing number of fitness centers, and a desire to lead active and healthy lifestyles amid COVID-19 pandemic. As increasing fitness and immunity remains the key focus area for end-users, vegan protein manufacturers are likely to witness sustained opportunities in near future.

Vegan protein is also used extensively in sports nutrition industry. Although lockdown and shelter-at-home guidelines have meant restricted sporting activities, sales are likely to improve over the course of the assessment period owing to the surge in vegan population and increase in number of online wellness clubs.

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US and Canada Vegan Protein Market Outlook

A recent study by VeganNews has revealed that the number of Americans following vegan protein/plant based diets is around 10 million which is nearly 3 percent of the population in United States. This is almost 300% increase over last 15 years. The US vegan protein market is set to tread on the historic pattern of bust and boom during the assessment period 2021-2031. Demand is likely to leap and bound in the next couple of years with an upsurge in vegan population.

Demand for vegan protein in US and Canada will be led by sports nutrition industry. Growing level of health consciousness among consumers and the expansion of vegan populations is likely to fuel the North American market. Furthermore, the US and Canada non-vegan (meat) spending is likely to reduce by 2022 and beyond, and this will continue to benefit vegan protein manufacturing companies.

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Europe Demand Outlook for Vegan Protein

Many countries in EU have been severely impacted by the COVID-19 crisis, which has led to a decline in economic activities. However, as is the case in US and Canada, health and fitness spending in EU continues to drive demand for vegan protein.

Despite the COVID-19 challenges, most European countries have maintained a steady healthcare and fitness expenditure in 2020. In Europe, around 1% of consumers claims to be vegan while near about 3% are vegetarian. Yet the vegan protein market is trending heavily in Europe, extending from healthy snacks and beverages to plant-based indulgences such as burgers made from vegies and meat alternatives. Germany, Italy, and France is the most visited countries in Europe, creating opportunities for vegan protein manufacturers to supply on-the-go vegan protein in form of bars and packaged foods.

For More Insight- https://www.einpresswire.com/article/556608822/sales-of-uv-cured-acrylic-adhesives-is-set-to-swell-2-1x-over-the-forecast-period

Vegan Protein Market Report Highlights:

• Detailed overview of parent market
• Changing market dynamics in the industry
• In-depth market segmentation
• Historical, current and projected market size in terms of volume and value
• Recent industry trends and developments
• Competitive landscape
• Strategies of key players and products offered
• Potential and niche segments, geographical regions exhibiting promising growth
• A neutral perspective on market performance
• Must-have information for market players to sustain and enhance their market footprint

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