Vegan Supplements Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Vegan Supplements Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028


Market Overview:

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. 

Veganism is a practice that abstains from the use of animal byproducts, such as milk, eggs, or meat. Vegan supplements refer to additional nutrients that are derived from plant-based sources to fulfill the nutritional requirements of the human body. Generally consumed by the vegan population, they are rich in iron, calcium, vitamins B12 and D, iron, zinc, iodine, omega-3 fatty acids, and proteins. Vegan supplements are commonly available in pills, capsules, gummies, powders, tablets, and liquid forms. As compared to non-vegan supplements, they exhibit a smaller carbon footprint and are more environmentally sustainable while delivering the same dosage and quality of underlying nutrients. Apart from this, they help ensure the intake of proper nutrients, improve cognitive abilities, provide better athletic performance, manage weight, and boost immunity.

Vegan Supplements Market Trends:



The significant growth in the vegan population due to health concerns, environmental impact, and animal welfare is creating a positive outlook for the market. This is further supported by the increasing instances of various lifestyle diseases and the shifting consumer inclination toward a healthier lifestyle. Apart from this, continuous product innovations in various flavor profiles, such as vanilla, chocolate, berry, and others, are providing an impetus to the market growth. Additionally, the increasing awareness about the associated benefits of vegan supplements and the rising demand for clean label, energy-rich offerings are positively impacting the market growth. Moreover, the extensive product application in sports nutrition as a good source of dietary fiber to minimize the risk of inflammation and improve cholesterol levels, blood viscosity, and arterial flexibility is acting as another growth-inducing factor. Besides this, the widespread adoption of vegan supplement powder with enhanced shelf life, rising expenditure capacities of consumers, and easy product availability across e-commerce platforms are anticipated to drive the market toward growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global vegan supplements market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on product type, form and distribution channel.

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

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being 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.

Key Questions Answered in This Report:

How has the global vegan supplements market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global vegan supplements market?
What are the key regional markets?
What is the breakup of the market based on the product type?
What is the breakup of the market based on the form?
What is the breakup of the market based on the distribution channel?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global vegan supplements market and who are the key players?
What is the degree of competition in the industry?


1 Preface
2 Scope and Methodology
  2.1 Objectives of the Study
  2.2 Stakeholders
  2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
  2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
  2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
  4.1 Overview
  4.2 Key Industry Trends
5 Global Vegan Supplements Market
  5.1 Market Overview
  5.2 Market Performance
  5.3 Impact of COVID-19
  5.4 Market Forecast
6 Market Breakup by Product Type
  6.1 Protein
6.1.1 Market Trends
6.1.2 Market Forecast
  6.2 Minerals
6.2.1 Market Trends
6.2.2 Market Forecast
  6.3 Vitamins
6.3.1 Market Trends
6.3.2 Market Forecast
  6.4 Others
6.4.1 Market Trends
6.4.2 Market Forecast
7 Market Breakup by Form
  7.1 Powder
7.1.1 Market Trends
7.1.2 Market Forecast
  7.2 Capsules/Tablets
7.2.1 Market Trends
7.2.2 Market Forecast
  7.3 Others
7.3.1 Market Trends
7.3.2 Market Forecast
8 Market Breakup by Distribution Channel
  8.1 Pharmacies/Drug Stores
8.1.1 Market Trends
8.1.2 Market Forecast
  8.2 Supermarkets and Hypermarkets
8.2.1 Market Trends
8.2.2 Market Forecast
  8.3 Specialty Stores
8.3.1 Market Trends
8.3.2 Market Forecast
  8.4 Online Stores
8.4.1 Market Trends
8.4.2 Market Forecast
9 Market Breakup by Region
  9.1 North America
9.1.1 United States
9.1.1.1 Market Trends
9.1.1.2 Market Forecast
9.1.2 Canada
9.1.2.1 Market Trends
9.1.2.2 Market Forecast
  9.2 Asia-Pacific
9.2.1 China
9.2.1.1 Market Trends
9.2.1.2 Market Forecast
9.2.2 Japan
9.2.2.1 Market Trends
9.2.2.2 Market Forecast
9.2.3 India
9.2.3.1 Market Trends
9.2.3.2 Market Forecast
9.2.4 South Korea
9.2.4.1 Market Trends
9.2.4.2 Market Forecast
9.2.5 Australia
9.2.5.1 Market Trends
9.2.5.2 Market Forecast
9.2.6 Indonesia
9.2.6.1 Market Trends
9.2.6.2 Market Forecast
9.2.7 Others
9.2.7.1 Market Trends
9.2.7.2 Market Forecast
  9.3 Europe
9.3.1 Germany
9.3.1.1 Market Trends
9.3.1.2 Market Forecast
9.3.2 France
9.3.2.1 Market Trends
9.3.2.2 Market Forecast
9.3.3 United Kingdom
9.3.3.1 Market Trends
9.3.3.2 Market Forecast
9.3.4 Italy
9.3.4.1 Market Trends
9.3.4.2 Market Forecast
9.3.5 Spain
9.3.5.1 Market Trends
9.3.5.2 Market Forecast
9.3.6 Russia
9.3.6.1 Market Trends
9.3.6.2 Market Forecast
9.3.7 Others
9.3.7.1 Market Trends
9.3.7.2 Market Forecast
  9.4 Latin America
9.4.1 Brazil
9.4.1.1 Market Trends
9.4.1.2 Market Forecast
9.4.2 Mexico
9.4.2.1 Market Trends
9.4.2.2 Market Forecast
9.4.3 Others
9.4.3.1 Market Trends
9.4.3.2 Market Forecast
  9.5 Middle East and Africa
9.5.1 Market Trends
9.5.2 Market Breakup by Country
9.5.3 Market Forecast
10  SWOT Analysis
  10.1 Overview
  10.2 Strengths
  10.3 Weaknesses
  10.4 Opportunities
  10.5 Threats
11  Value Chain Analysis
12  Porters Five Forces Analysis
  12.1 Overview
  12.2 Bargaining Power of Buyers
  12.3 Bargaining Power of Suppliers
  12.4 Degree of Competition
  12.5 Threat of New Entrants
  12.6 Threat of Substitutes
13  Price Analysis
14  Competitive Landscape
  14.1 Market Structure
  14.2 Key Players
  14.3 Profiles of Key Players
14.3.1 Aloha Inc.
14.3.1.1 Company Overview
14.3.1.2 Product Portfolio
14.3.2 Amway Corp.
14.3.2.1 Company Overview
14.3.2.2 Product Portfolio
14.3.2.3 SWOT Analysis
14.3.3 Deva Nutrition LLC
14.3.3.1 Company Overview
14.3.3.2 Product Portfolio
14.3.4 DuPont de Nemours Inc.
14.3.4.1 Company Overview
14.3.4.2 Product Portfolio
14.3.4.3 Financials
14.3.4.4 SWOT Analysis
14.3.5 Eversea Inc.
14.3.5.1 Company Overview
14.3.5.2 Product Portfolio
14.3.6 HTC Health
14.3.6.1 Company Overview
14.3.6.2 Product Portfolio
14.3.7 Jarrow Formulas Inc.
14.3.7.1 Company Overview
14.3.7.2 Product Portfolio
14.3.8 Nestlé S.A.
14.3.8.1 Company Overview
14.3.8.2 Product Portfolio
14.3.8.3 Financials
14.3.8.4 SWOT Analysis
14.3.9 NOW Foods
14.3.9.1 Company Overview
14.3.9.2 Product Portfolio
14.3.10 Nutrazee
14.3.10.1 Company Overview
14.3.10.2 Product Portfolio
14.3.11 Ora Organic
14.3.11.1 Company Overview
14.3.11.2 Product Portfolio
14.3.12 PepsiCo Inc.
14.3.12.1 Company Overview
14.3.12.2 Product Portfolio
14.3.12.3 Financials
14.3.12.4 SWOT Analysis

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