What is Veganuary?
Veganuary was established in 2014 and is a campaign to encourage people to try a plant-based lifestyle throughout January. The first event had around 3,000 participants; ten years later, millions of people around the world now take part.
The growth of Veganuary reflects the growing number of people choosing to follow a vegan diet, which brings opportunities for product innovation for a new group of consumers.
This blog focuses on what is shaping the plant-based protein snack market, the trends and how brands can succeed in this product category.
Market Growth and Key Trends
Market Growth
In 2023, approximately 2.6 million people in Europe identified themselves as vegan, with plant-based diets particularly prevalent in Germany and the UK.
According to data from Future Market Insights, the global vegan protein bar market is expected to rise at a CAGR of 18% from 2023 to 2033. This growth looks to take the plant-based protein bar market from a valuation of USD 757.5 million in 2023 to USD 3,965.7 million in 2033.
Focus on Health & Wellbeing
The rise of chronic health conditions like diabetes, heart disease and obesity has prompted many people to change their dietary habits. This shift has resulted in consumers opting for plant-based protein bars as they are often viewed as the healthier option.
Vegan protein bars that support digestion and weight management are also in high demand.
Sustainability
Many consumers also follow a plant-based lifestyle to support their sustainability stance. Brands that emphasise sustainable sourcing, ethical practices and plant-based ingredients are likely to resonate with this audience.
Your Partner for Vegan Protein Snacks
At Opalbond we have a range of plant-based protein snack options including:
- Protein bars
- Protein wafers
- Cream-filled protein wafers
Our vegan protein snacks are available in a wide range of popular flavours and plant-based chocolate coatings.