Global Vegan Protein Market To Skyrocket By 2023, Says Report

The 'global vegan population base' has been partially credited for the sector's ongoing growth
Vegan soy burger
More people are opting for plant-based protein (Photo: Adobe. Do not use without permission)

The vegan protein products market will have an almost nine percent compound annual growth rate by 2023, according to a new report.

The Global Plant-based Protein Products Market 2019-2023 report credits the expanding global vegan population base as well as diversity of choice within the sector for the growth.

Vegan sector

According to the report: "The rising awareness about health benefits of vegan diets is encouraging the growth of vegan population. Vegan diets contains antioxidants, fiber, and beneficial plant compounds and are rich in folate, potassium, magnesium, and vitamins A, C, and E.

"The millennial vegan population is rising due to the growing awareness regarding the benefits of vegan diets in lowering the risks of heart diseases."

It adds that vegan protein manufacturers are launching products with lower fat and calorie contents. "This will cater to the changing demands of the consumers," it says. "Successful new product launches will not only help these market players to boost their market shares but also increase their revenue flow."

Disclaimer: The opinions expressed in this article are prepared in the author's capacity and do not necessarily reflect the views and opinions of Plant Based News itself. 

Reuse this content
PBN Contributor:

Maria is the Editor of Plant Based News. A former magazine editor, newspaper reporter, and features writer, her work has been published by The Guardian, The Huffington Post, and various regional newspapers. She was previously the editor of Vegan Life magazine and Vegan Trade Journal. She has interviewed a huge range of people, from Prime Ministers to authors, activists, pop stars and actors, and enjoys the varied range of topics writing for PBN allows her to tackle. You can follow her on Twitter @MariaChiorando and Instagram @mariachiorando.

(c) 2019 Plant Based News LTD. All Rights Reserved. Content must not be copied without permission.

Join the conversation

Since you're here...
Plant Based News is a FREE service that receives millions of views each week. This takes a lot of our personal time, money and hard work. But we do it because we KNOW it makes a difference. If those following our reporting helped by contributing, we could do even more. Please consider supporting us so we can create further awareness about animal rights, environmentalism, ethical consumerism and the plant-based lifestyle. Not a false narrative - but information that empowers people to make better choices.

It's World Vegan Day