Vegan Vitamins and Supplements Market Size, Share, Analysis, Trends, Growth, 2032

Vegan Vitamins and Supplements Industry Prospective:

The global vegan vitamins and supplements market size was evaluated at $10 billion in 2023 and is slated to hit $14 billion by the end of 2032 with a CAGR of nearly 8.9% between 2024 and 2032. 

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Vegan Vitamins and Supplements Market: Overview

Vegan vitamins and supplements are gaining popularity globally, with more people consuming plant-based foods. Key vitamins and supplements for vegans include vitamin B12, vitamin D, iron, calcium, omega-3 fatty acids, zinc, iodine, and vitamin K.

Key Insights

• As per the analysis shared by our research analyst, the global vegan vitamins and supplements market is projected to expand annually at the annual growth rate of around 8.9% over the forecast timespan (2024-2032)
•  In terms of revenue, the global vegan vitamins and supplements market size was evaluated at nearly $10 billion in 2023 and is expected to reach $14 billion by 2032.
• The global vegan vitamins and supplements market is anticipated to grow rapidly over the forecast timespan owing to escalating health awareness along with large-scale intake of plant-based foods by individuals across the globe.
• In terms of product type, the protein powders segment is slated to register the highest CAGR over the forecast period.
• Based on end-user, the athletes & fitness enthusiasts segment is predicted to contribute majorly towards segmental space in the upcoming years.
• Based on distribution channel, the online retailer segment is set to dominate the segmental growth in the ensuing years.
• Region-wise, the European vegan vitamins and supplements industry is projected to register the fastest CAGR during the projected timespan.

Vegan Vitamins and Supplements Market: Growth Factors

Surging knowhow about massive consumption of vegan diet can bolster the global market trends by 2032

Escalating health awareness along with large-scale intake of plant-based foods by individuals across the globe are a few of the factors that are likely to spearhead the expansion of the global vegan vitamins and supplements market. Flourishing e-commerce sector, along with an increase in promotional activities, are expected to spur the global market expansion in the years. Reportedly, the geriatric population prefers dietary supplements rich in nutrients for maintaining good health & fitness and this will help the global market gain traction in the forthcoming years.

Vegan Vitamins and Supplements Market: Restraints

Supply chain disruptions can stall the upsurge of the global industry over forecast period

Supply chain oscillations along with bioavailability issues can retract the growth of the global vegan vitamins and supplements industry. Moreover, the production of plant-based dietary supplements has proved to be a costly process, thereby further inhibiting the expansion of the global industry.

Vegan Vitamins and Supplements Market: Opportunities

New product launches can open new avenues of growth for the global market in coming years

Surging vegan populace and the need for vegan supplements owing to nutritional deficiencies of B12, omega-3 fatty acids, and iron will open new growth avenues for the global vegan vitamins and supplements market. Moreover, product innovations along with collaborations of key players with healthcare service providers are expected to carve new growth facets for the global market.  

Vegan Vitamins and Supplements Market: Challenges

Lesser access to vegan supplements can challenge the growth of the global industry over forecast timespan

Easy availability of synthetic dietary supplements at reduced costs and the need to comply with strict laws related to the manufacture of vegan supplements will create hurdles in the growth of the global vegan vitamins and supplements industry. Moreover, the lack of availability of a range of vegan vitamins and supplements can deter the global industry surge in the years ahead.

Vegan Vitamins and Supplements Market: Segmentation

The global vegan vitamins and supplements market is divided into product type, end-user, distribution channel, and region.                                             

In terms of product type, the vegan vitamins and supplements market across the globe is segmented into multivitamins, individual vitamins & minerals, omega-3 fatty acids, protein powders, and specialty supplements segments. Apparently, the protein powders segment, which amassed nearly 73% of the global market revenue in 2023, is projected to record the fastest CAGR in the coming eight years. This can be owing to a rise in the intake of plant-based protein powders by sports & fitness enthusiasts and athletes. Apart from this, these products can be easily used in baked products, smoothies, and milkshakes. Furthermore, protein powders are packed with minerals, amino acids, and vitamins, which offer nutritive benefits to individuals.

Based on the end-user, the global vegan vitamins and supplements industry is segmented into general population, adolescents & children, individuals with particular dietary requirements, athletes & fitness enthusiasts, and elderly segments. Apparently, the athletes & fitness enthusiasts segment, which led the global industry in 2023, is expected to contribute significantly towards the segmental surge in the ensuing years. This can be due to growing protein requirements along with the health benefits offered by vegan supplements. Apart from this, the need for recovery, muscle expansion, and performance enhancement will drive the segmental surge.

On the basis of distribution channel, the global vegan vitamins and supplements market is sectored into direct-to-consumer products, health food stores, online retailers, and pharmacies segments. Moreover, the online retailer segment, which led the distribution channel segment in 2023, is expected to dominate the segmental space in the forecast timeline. Furthermore, the segmental progression can be due to the flourishing e-commerce sector and the use of direct-to-consumer models as well as targeted marketing business practices adopted by the key players.

Vegan Vitamins and Supplements Market: Report Scope

Vegan Vitamins and Supplements Market: Regional Insights

North America is likely to maintain leading status in the global market over the projected time-interval

North America, which contributed about 43% of the global vegan vitamins and supplements market size in 2023, is likely to establish a leading position in the global market in the ensuing years. Apart from this, the regional market progression in the next couple of years can be attributed to a strong vegan movement witnessed in countries such as the U.S.

Moreover, surging awareness about the benefits of consuming a vegan diet among the people of Canada and the U.S. will drive the market upsurge in the region in the next couple of years. Presence of key players and vendors in the region will further contribute to the growth of the market in North America.

The European vegan vitamins and supplements industry is set to register the highest CAGR annually in the upcoming years. The progression of the industry in Europe can be a result of the growing demand for plant-based food products and health & fitness awareness among people. In addition to this, a rise in the intake of organic food products will drive the industry trends in Europe.

Key Developments

• In October 2024, Fortifeye Vitamins, a key player in nutritional supplements, launched new vegan protein powders, thereby adding to their performance nutrition product portfolio. Such moves will contribute remarkably towards the growth of the vegan vitamins and supplements business growth.

Vegan Vitamins and Supplements Market: Competitive Space

The global vegan vitamins and supplements market profiles key players such as:

• Nutrazee Inc.
• Hippo7
• VMLOX
• Future Kind
• Eversea
• Garden of Life
• Na Pursuit
• Danone S.A.
• Terraseed
• Blue Diamond Growers Inc.
• One Brands
• NuGo Nutrition
• Herbalife Nutrition
• Nutravita Limited
• Holland & Barrett Retail Limited
• BHU Foods
• Greenvits
• Vanatari International GmbH
• ALOHA
• Prevention LLC
• G&G Vitamins
• Sequel Natural Ltd.
• Orgain Inc.
• Glanbia Plc
• Riff Enterprises Inc.
• Archon Vitamin LLC
• Deva Nutrition LLC
• Nutricost
• Amazing Grass
• BioOriginal Food & Science Corp.
• Nordic Naturals
• Vega
• PlantFusion
• NOW Foods

The global vegan vitamins and supplements market is segmented as follows:

By Product Type

• Multivitamins
• Individual Vitamins & Minerals
• Omega-3 Fatty Acids
• Protein Powders
• Specialty Supplements

By End-User

• General Population
• Adolescents & Children
• Individuals with Particular Dietary Requirements
• Athletes & Fitness Enthusiasts
• Elderly

By Distribution Channel

• Direct-to-Consumer Products
• Health Food Stores
• Online Retailers
• Pharmacies

By Region

• 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