Future Market Insights’ research indicates that during the estimated period, the Vegan Vitamins and Supplements market is expected to grow at a CAGR of 6.10%. Forecasts indicate that the market will increase in value from US$ 6986.1 million in 2023 to US$ 12,629.6 million in 2033.
The vegan vitamins and supplements market has grown in recent years, driven by the increasing popularity of veganism as a lifestyle and dietary choice. According to a recent report, the global vegan vitamins and supplements market is expected to grow at a compound annual growth rate of over 6.10% from 2023 to 2033.
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In terms of product type, the vegan vitamins and supplements market can be segmented into vitamin B12, vitamin D, iron, omega-3, and others. Vitamin B12 and vitamin D are among the most commonly used vegan supplements, as these nutrients can be difficult to obtain in adequate amounts from a vegan diet.
The increasing demand for plant-based and eco-friendly products is also expected to drive growth in the vegan vitamins and supplements market. Many consumers are looking for natural and sustainable alternatives to traditional supplements, and vegan vitamins and supplements are seen as a more environmentally responsible choice.
In conclusion, the vegan vitamins and supplements market is expected to continue to grow as more people adopt a vegan lifestyle and seek out products that align with their values and dietary needs.
People adopting a vegan diet are expected to adopt Vegan Vitamins and Supplements.
Vegan Vitamins and Supplements have major advantages over its counterpart, synthetic or animal based-supplements, which could be a driver for the majority of the population. There is also a growing demand from the Food and Beverage Industry for Vegan Vitamins and Supplements.
Synthetic supplements are easily available and at a competitive price when compared to Vegan Vitamins and supplements, it is expected to be a restraining factor for Vegan Vitamins and Supplements.
Global Vegan Vitamins and Supplements Market: Market Participants
The market participants in the global Vegan Vitamins and Supplements Market identified across the value chain include
- VegLife, Dupont
- Jarrow Formulas
- VitaminEnergy
- Solgar Inc
- DEVA™
- NOW Foods
- Natrol®
- Vitacost
- Garden of Life
- Pure Encapsulations
- Orgenetics
- Ora Organic
- HTC Health
among the manufacturers of Vegan Vitamins and Supplements across the globe.
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Opportunities for the Market Participants in the global Vegan Vitamins and Supplements Market
The rising concerns over the animal or based products and protein, growing vegan population, enriching preference for meat alternatives, propelling demand for healthy and nutritional products has made Vegan Vitamins and Supplements Market popular in various regions of the world.
Rising health consciousness, surging food and beverages industry and booming economy are some of the reasons behind the growth of Vegan Vitamins and Supplements Market in the forecasted period.
Outpouring demand for nutritional and functionally augmented processed food products are driving the growth of the market. Some of the factors like diseases caused due to feeding fortification, and vitamin deficiencies, increased per-capita income and increased health awareness among people, rising incidence of obesity and related diseases is making consumers opt for food and beverages products that are low in fat and rich in minerals, are fueling the Vegan Vitamins and Supplements market growth
Global Vegan Vitamins and Supplements Market: segmentation
On the basis of Form, the global Vegan Vitamins and Supplements Market has been segmented as,
- Powder
- Capsule
On the basis of Form, the global Vegan Vitamins and Supplements Market has been segmented as,
- Vitamin B-12
- Iron
- Omega-3 fatty acids
- Vitamin D
- Vitamin K-2
- Zinc
- Iodine
- Calcium
On the basis of Distribution channel, the global Vegan Vitamins and Supplements Market has been segmented as,
- Hypermarket
- Supermarket
- Mass Merchandisers
- Specialty Stores
- Others
On the basis of Application, the global Vegan Vitamins and Supplements Market has been segmented as,
- Healthcare Products
- Pharmaceuticals
- Food and Beverages
- Infant Food
- Dairy Products
- Bakery and Confectionery Products
- Beverages
- Others
- Snacks
- Flours
- Breakfast Cereals
- Personal Care Products
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