Global Vegan Supplements Market Size, Share, Trends, Growth and Forecast 2032

Global Vegan Supplements Market Insights

According to a report from Zion Market Research, the global Global Vegan Supplements Market was valued at USD 10.56 Billion in 2023 and is projected to hit USD 25.72 Billion by 2032, with a compound annual growth rate (CAGR) of 10.4% during the forecast period 2024-2032.

This report explores market strengths, weakness, opportunities, and threats. It also provides valuable insights into the market's growth drivers, challenges, and the future prospects that may emerge in the Global Vegan Supplements Market industry over the next decade.

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Global Vegan Supplements Market: Overview

Vegan supplements are dietary supplements containing vital nutrients like amino acids, minerals, protein, and blends that help in building good health. They improve bodily functions by complementing the nutrition that consumers derive from their regular food.

This market is mostly driven by the increasing popularity of veganism. Compared to animal-based products, plant-based foods are thought to be safer and healthier. The sector for plant-based protein supplements has expanded dramatically as a result of growing animal welfare concerns. It is anticipated that rising consumer interest in healthier products and food safety will drive market expansion. The market will continue to increase as a result of the main manufacturers' investments in research into novel protein sources.

Vegan supplements are extra vitamins and minerals that people take when they need to keep up a healthy, balanced vegetarian or vegan diet or when they are nutrient deficient in order to supplement their diet. Since vegetarians and vegans don't eat any poultry, red meat, shellfish, or crabs, these supplements are created from substances that are derived from plants. Some of the most well-liked vegan supplements are iron, vitamin D, and omega-3 fatty acids.

Global Vegan Supplements Market: Growth Factors

There is a significant shift of consumers from meat products to vegan products. This growing preference of consumers for a vegan diet is a prominent factor boosting the growth of the global vegan supplements market. The growing concern regarding animal-based food is also propelling the demand for vegan supplements in the global vegan supplements market. The increasing prevalence of incidences of lactose intolerance among people is fueling the growth of the market. The growing awareness of people regarding their health and wellness has supported the adoption of vegan supplements in the market globally. People are transforming their lifestyle significantly due to the outbreak of COVID-19.

The pandemic has induced consumers to adopt preventive healthcare like nutritious food and beverages to facilitate health benefits. Moreover, the marketing of such distinct vegan supplements on social media platforms and penetrating business strategies have created lucrative growth opportunities in the global vegan supplements market. The vegan diet is highly visible on social media platforms and hence is inducing a larger audience to accept such products. The effective sales plans framed by leading manufacturers in the global vegan supplements market have largely utilized the online sales channel to increase their consumer base and achieve market expansion.

The increasing interest of people in sports nutrition is further propelling the growth of the market globally. Sports nutrition has attracted many new entrants to explore the untapped potential of the market. Moreover, manufacturers are launching better meat alternative products in the market to attract consumers. The growing per capita income of people is also bolstering the growth of the market globally. Manufacturers are vigorously investing in research and development activities to undergo extensive innovations to launch new products in the market for generating huge market revenue.

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Global Vegan Supplements Market: Segmentation

The global vegan supplements market can be segmented into form, distribution channel, type, application, and region.

By form, the market can be segmented into capsules, gummies, and powder. The capsule segment dominates the global vegan supplements market owing to its long shelf life and are among highly preferable consumable forms.

By type, the market can be segmented into blends, amino acids & proteins, minerals, and vitamins. The vitamins segment holds hegemony over others owing to its usage by all age humans for both curative and preventive healthcare.

By distribution channel, the global market can be segmented into specialty stores, mass merchandisers, supermarkets, hypermarkets, and others. The supermarket segment holds the largest share in the global vegan supplements market. However, the specialty stores segment is also anticipated to witness huge growth during the forecast period.

By application, the market can be segmented into breakfast cereals, flours, snacks, beverages, bakery & confectionery products, dairy products, infant food, pharmaceuticals, healthcare products, and others.

Global Vegan Supplements Market: Regional analysis

North America holds the largest share in the global vegan supplements market owing to the constantly growing medical service expenses. The growing awareness among people regarding their health is also contributing vigorously toward the regional market growth.

Europe is also expected to grow significantly with high CAGR during the forecast period due to the growing demand for ready to eat meals across the region. The growing investments by the prominent market players are also fueling the growth of the regional market.

Global Vegan Supplements Market: Report Scope

Global Vegan Supplements Market: Competitive Players

• Blue Diamond Growers Inc.
• BHU Foods
• One Brands
• ALOHA
• PepsiCo Inc.
• NuGo Nutrition
• Danone S.A.
• General Mills
• Eversea
• VMLUX
• HTC Health
• Ora Organic
• Orgenetics
• Pure Encapsulations
• Garden of Life
• Vitacost
• Natrol
• NOW Foods
• DEVA
• Solgar Inc
• VitaminEnergy
• Jarrow Formulas
• VegLife
• Dupont.

Global Vegan Supplements Market: Regional Segment Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa