The global vegan supplements market is expected to develop at a CAGR of 11.3% from 2022-2032. It is anticipated to reach a valuation of approximately US$ 14,089.6 Million by the end of 2032.
The market for vegan supplements is expected to grow at a fast pace from 2022 to 2032 as a result of rising concerns regarding animal health and protection on one side, and rising veganism on the other side. A strict vegetarian diet that forgoes all animal products, including milk, eggs, and meat, is known as a vegan diet. The global acceptance of vegan supplements, which have a high nutritional content, is a consequence of the beverages and food industry’s ongoing transformation.
Vitamins for vegetable lovers are nowadays much more necessary than ever. Consumers’ rising levels of healthy lifestyle consciousness and the rapidly expanding vegetarian population continue to be key drivers. It is founded on component labeling and the promotion of contributions that are high in energy.
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Key Takeaways from the Vegan Supplements Market Study
- Approximately 40% of consumers in the U.S. bought vegan products because they believe these products are nutritious.
- By form, the powder segment is expected to remain at the forefront by generating the largest vegan supplements market share.
- Nearly 75% of German households would want to see more vegetarian goods at supermarkets.
- Europe is estimated to drive demand in the vegan supplements market during the forecast period of 2022 to 2032.
- The vegan supplements market is expected to reach nearly US$ 4,803.6 Mn by 2022.
“Rising adoption of preventive healthcare practices and increasing prevalence of vitamin deficiencies are expected to bode well for the global vegan supplements market. Manufacturers and retailers are beginning to provide free access to “wellness tools” that would create a user-specific antioxidants list based on their specific requirements and conditions,” says a Future Market Insights analyst.
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Competitive Landscape: Vegan Supplements Market
Some of the key players are General Mills Inc., Garden of Life, Danone S.A., PepsiCo Inc. , Blue Diamond Growers Inc, ALOHA, NuGo Nutrition, One Brands, BHU Foods , G&G Foods, Country Life LLC, Wonder Laboratories, Now Health Group Inc., Jarrow Formulas, Kerry Group PLC, Nutritional Growth Solution, and others.
The global vegan supplements industry is moderately competitive and fragmented, with several mid and small-scale businesses. Key players operating in the global market are focusing on continuous product launches and new product developments to stay ahead in competition.
Explore More Valuable Insights on the Vegan Supplements Market
Future Market Insights, in its new report, offers an impartial analysis of the global vegan supplements market, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.
The study offers compelling insights based on the form (powder, liquid, capsules & soft gels, tablets, pills, gummies, and bars), based on ingredients (vitamins & minerals, amino acids & proteins, herbal & botanical ingredients, and others), based on health needs (weight loss, sports nutrition, general well-being, immune & digestive health, bone & joint health, heart health, and other specific requirements), based on customer orientation (men, women, senior citizen, and others), and based on sales channel (hypermarkets/supermarkets, pharmacies & drug stores, convenience stores, departmental stores, online retail stores and other sales channel), across seven major regions of the world.
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Vegan Supplements Market Outlook by Category
By Form:
- Powder
- Liquid
- Capsules & Soft Gels
- Tablet
- Pills
- Gummies
- Bars
By Ingredients:
- Vitamins & Minerals
- Amino Acids & Proteins
- Herbals & Botanicals
- Others
By Health Needs:
- Weight Loss
- Sports Nutrition
- General Well-being
- Immune & Digestive Health
- Bone & Joint Health
- Heart Health
- Other Specific Requirements
By Customer Orientation:
- Men
- Women
- Senior Citizen
- Others (Kids & Toddlers)
By Sales Channel:
- Hypermarkets/Supermarkets
- Pharmacies & Drug Stores
- Convenience Stores
- Departmental Stores
- Online Retail Stores
- Other Sales Channel
Author
Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.
She has exceptional analytical skills and often brings thought leadership to the table.
Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.
Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor’s Degree in Electrical Engineering from Nagpur University, India.
Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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