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Global vegan protein foods market is expected to be valued at US$ 10327 million in 2023 and to reach a valuation of US$ 19063 million by 2033. The demand for vegan protein foods is estimated to grow at a steady 7% CAGR, with the U.K., the U.S., China, and India emerging as key producers.

Consumers’ growing interest in health has fueled a dramatic expansion of the field of personalised nutrition. Recently, shoppers have been increasingly picky about what they put in their bodies. Other than the traditional vegan protein product sources like soy, wheat, and pea, aquatic plants present a tremendous potential to obtain proteins and components that are tailored to the specific physiological and metabolic requirements of individual customers.

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Key Takeaways

The growing vegan protein foods market as a result of the health benefits, it provides has prompted major businesses to diversify their offerings. So, to improve the food’s overall health benefits, more and more people are turning to plant-based proteins.

With the help of cutting-edge innovations in research and development, plant proteins can find even more uses in the food and drink industry. However, new products can help make up for plant protein’s lower grade when compared to animal/dairy proteins like whey and meat.

When it comes to the worldwide plant-based protein business, soy protein is a huge moneymaker and is projected to expand at a rapid clip over the next several years.

Soy, wheat, pea, and other legumes and grains are only some of the plant foods that can be used to make protein-rich plant-based foods. Pea protein is expected to expand at a robust CAGR of 6.9% during the next few years.

The value of the isolate market category is projected to grow at a CAGR of 5.8% over the forecasted time frame, as indicated by the data presented here.

Competitive Landscape

The competitive landscape in the vegan protein foods market is becoming increasingly competitive as more companies enter the market and existing companies expand their product offerings.

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