Reading Time: < 1 minute More people are opting for plant-based protein (Photo: Adobe. Do not use without permission)
Reading Time: < 1 minute

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.”

Maria Chiorando

Maria is the editor of Plant Based News. As a former magazine editor, newspaper reporter, and features writer, her work has been published by The Guardian, The Huffington Post, and various regional newspapers, as well as 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.