Vegan Supplements

Vegan Supplements Market 2023 Segments Analysis by Top Key Players

Industry Overview of Vegan Supplements Market

The increasing adoption of a vegan lifestyle is driving the surge in popularity of plant-based supplements. These supplements are specifically designed to cater to the nutritional needs of individuals who follow a vegan diet, which excludes animal-derived products. Crafted from plant-based sources, these supplements offer an array of essential nutrients like calcium, vitamins B12 and D, iron, zinc, iodine, omega-3 fatty acids, and proteins. They are available in diverse forms such as gummies, capsules, tablets, powders, liquids, and pills. Notably, vegan supplements present an eco-conscious alternative to non-vegan counterparts, featuring reduced carbon footprints and environmentally sensitive production methods, all while delivering the same potency and quality of vital nutrients. Beyond their role in meeting nutritional demands, these supplements offer additional advantages, including cognitive enhancement, heightened athletic performance, support for optimal nutrient intake, assistance with weight management, and reinforcement of immune function. By integrating vegan supplements into their dietary regimen, individuals can ensure the receipt of essential nutrients that underpin overall health and well-being while adhering to a vegan way of life.

How Big Is The Vegan Supplements Market?

The global vegan supplements market size reached US$ 7.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 11.2 Billion by 2028, exhibiting a growth rate (CAGR) of 6.8% during 2023-2028. 

What Are The Growth Prospects And Trends In The Vegan Supplements Industry?

The vegan supplements market is undergoing significant expansion, propelled by a range of influential factors. An expanding vegan demographic, spurred by concerns about health, environmental impact, animal welfare, and the pursuit of wellness, is a pivotal growth driver. Furthermore, the increasing prevalence of chronic ailments has contributed to market augmentation, with individuals seeking plant-based alternatives to bolster their health. Innovations in product offerings, particularly in terms of enticing flavors like vanilla, chocolate, and berry, are elevating the attractiveness of vegan supplements and garnering a wider consumer audience. Growing awareness of the advantageous attributes linked to vegan supplements, alongside the demand for clean label and energy-enriched options, is propelling market enlargement. The extensive utilization of vegan supplements in the realm of sports nutrition stands as another substantial catalyst for growth. These supplements deliver valuable dietary fiber, which can aid in mitigating inflammation and enhancing metrics such as cholesterol levels, blood viscosity, and arterial flexibility, thereby promoting athletic performance and recovery. Additionally, there is an escalating desire for vegan supplements with extended shelf lives, mirroring consumer preferences for products that maintain quality over prolonged storage durations. Heightened consumer disposable income and the convenience of accessing vegan supplements through online commerce platforms are also bolstering market expansion. In summation, the convergence of factors encompassing the expanding vegan demographic, innovative product diversification, recognition of benefits, sports nutrition applications, shelf life demands, consumer purchasing capacity, and ease of product acquisition online, collectively underpin the robust growth of the vegan supplements market.

What Is Included In Market Segmentation?

The report has segmented the market into the following categories:

Breakup by Product Type:

  • Protein
  • Minerals
  • Vitamins
  • Others

Breakup by Form:

  • Powder
  • Capsules/Tablets
  • Others

Breakup by Distribution Channel:

  • Pharmacies/Drug Stores
  • Supermarkets and Hypermarkets
  • Specialty Stores
  • Online Stores

Breakup by Region:

  • North America
    • United States
    • Canada
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa

Who Are The Key Players Operating In The Industry?

The report covers the major market players including: 

  • Aloha Inc.
  • Amway Corp.
  • Deva Nutrition LLC
  • DuPont de Nemours Inc.
  • Eversea Inc., HTC Health
  • Jarrow Formulas Inc.
  • Nestlé S.A.
  • NOW Foods
  • Nutrazee
  • Ora Organic and PepsiCo Inc.

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