Japan vegan protein foods market is projected to develop at a CAGR of around 6% by 2033. The global vegan protein foods market is set to be worth US$ 10327 million in 2023 and is projected to reach US$ 19063 million by 2033. Demand for vegan protein foods is projected to be rising steadily by 7% CAGR from 2023 to 2033.
Key areas of Japan such as those with large Buddhist populations, have adopted vegan nutrition with increasing awareness about animal welfare. This trend has made it easy for individuals in these provinces to adopt a vegan diet. Global demand for pea protein is projected to be driven by a booming dietary supplement sector and the desire for health products derived from natural sources.
Consumption of organic products is mounting in the Japan market and buyers are becoming highly conscious of organic products. It is anticipated to boost sales of pea protein-based food items. Pea protein has proved to be a prominent vegan protein in the Japan market. Health benefits and rising awareness in Japan are a couple of other factors that would drive sales of vegan protein food items.
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The government and media are likewise gradually endorsing a plant-based diet and raising awareness of the benefits of pea vegan protein. They are also encouraging consumers to try it. Rising demand for healthy, high-quality alternatives such as breakfast cereals, smoothies, grain bread, and other natural baked goods would help to propel sales.
Hence, trend for consuming natural energy foods may continue gradually in the country. As consumer preferences shift from animal protein to plant-based products, manufacturers would offer a wide variety of plant-based products.
Key Takeaways from the Japan Vegan Protein Foods Market
- Around 6% share was estimated for the Japan vegan protein foods market in the global market.
- Japan’s sustained focus on consuming a vegan diet for health benefits is poised to boost demand for vegan protein foods between 2023 and 2033.
- In 2023, the global market for vegan protein foods is anticipated to reach a valuation of US$ 10327 million.
- From 2023 to 2033, a healthy 7% CAGR is predicted to take the global vegan protein foods market’s value to US$ 19063 million in 2033.
“From both a personal and ecological health standpoint, vegan protein foods are seen as a sustainable substitute to animal-derived proteins. Demand for vegan protein foods is exploding as people become concerned about well-being issues such as cardiovascular disease. People are progressively drawn to vegan proteins as they believe they can aid them to better control their weight,” says a lead analyst at Future Market Insights.
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Competition Landscape in the Japan Vegan Protein Foods Market
Increased competition is obliging market participants to invest, innovate, and present new products. This has expanded the portfolio of plant-based proteins manufacturers. Hence, increasing competition and invention in the industry are building lucrative growth opportunities for market players. Manufacturers are focusing on mergers and new product developments to expand their presence in the Japan market.
Itsukiya, OmniFoods, and Vegetarian Butcher are a few key players in the global vegan protein food market.
Recent Developments
- In July 2022, Starbucks Japan announced several new plant-based goods as part of the chain’s inventiveness to reduce carbon emissions around the world.
- In March 2022, Japan-based food company ‘2foods by TWO Inc.’ partnered with local manufacturing giant ‘Kagome Co.’ It would help to advance a plant-based egg alternative for a new omelet rice dish called ‘Ever Egg.’ This constituent is made from processed legumes and vegetables to achieve just the right consistency.
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Key Segments
Product Type:
- Soy Protein
- Wheat Protein
- Pea Protein
Form:
- Isolates
- Concentrates
- Hydrolysates
Nature:
- Organic
- Conventional
Application:
- Nutritional Products
- Bakery, Snacks & Cereals
- Dairy, Confectionary and Dessert
- Convenience Food
- Beverages
- Animal Feed
Region:
- North America
- Latin America
- Europe
- Asia Pacific (APAC)
- Middle East & Africa (MEA)
About Future Market Insights (FMI):
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization, and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel, and End Use over the next 10 years.
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