IMARC Group’s report titled “Vegan Supplements Market Report by Product Type (Protein, Minerals, Vitamins, and Others), Form (Powder, Capsules/Tablets, and Others), Distribution Channel (Pharmacies/Drug Stores, Supermarkets and Hypermarkets, Specialty Stores, Online Stores), and Region 2024-2032“. The global vegan supplements market size reached US$ 8.0 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 13.8 Billion by 2032, exhibiting a growth rate (CAGR) of 6.1% during 2024-2032.
For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/vegan-supplements-market/requestsample
Factors Affecting the Growth of the Vegan Supplements Industry:
- Rising Health Consciousness and Dietary Shifts:
The increasing awareness about health and wellness among the masses is contributing to the market growth. Consumers are becoming more informed about the impact of diet on health, which is encouraging the adoption of plant-based diets that are generally perceived as healthier and more sustainable. Vegan supplements are gaining popularity as they align with these health-centric dietary choices. These supplements are often seen as cleaner, with fewer additives, and are free from common allergens present in animal-based products. This health-driven shift is not just among vegans but also a broader base of consumers seeking plant-based alternatives for nutritional reasons.
- Emphasis on Personalized Nutrition:
The growing emphasis on personalized nutrition among individuals is offering a favorable market outlook. Consumers are seeking supplements tailored to their specific health needs, lifestyle, and even genetic profiles. This trend is driven by advancements in technology and a deeper understanding of individual nutritional requirements. Vegan supplement manufacturers are responding by offering customized vitamin and mineral mixes, targeted supplements for specific health conditions, and products that align with personal health goals. This personalization not only enhances the effectiveness of the supplements but also appeals to consumers looking for a more individualized approach to health and wellness.
- Incorporation of Functional Ingredients:
The rising integration of plant-based supplements with functional ingredients for added health benefits is strengthening the market growth. There is an increase in the demand for vegan supplements that incorporate superfoods, adaptogens, probiotics, and other functional ingredients that provide additional health benefits beyond basic nutrition. These ingredients are sought for their potential to boost immunity, enhance energy levels, improve gut health, and provide stress relief. This trend reflects a broader consumer shift towards holistic health approaches, where supplements are not just about filling nutritional gaps but also enhancing overall health and well-being.
Leading Companies Operating in the Global Vegan Supplements Industry:
- Aloha Inc.
- Amway Corp.
- Deva Nutrition LLC
- DuPont de Nemours Inc.
- Eversea Inc.
- HTC Health
- Jarrow Formulas Inc.
- Nestlé S.A.
- NOW Foods
- Ora Organic
- PepsiCo Inc
Vegan Supplements Market Report Segmentation:
By Product Type:
Protein exhibits a clear dominance in the market attributed to the increasing demand for plant-based protein sources as a result of health and sustainability concerns.
Powder holds the biggest market share as it offers convenience and versatility in terms of usage, making it a preferred choice among consumers.
By Distribution Channel:
- Pharmacies/Drug Stores
- Supermarkets and Hypermarkets
- Specialty Stores
- Online Stores
Pharmacies/drug stores account for the majority of market share due to their accessibility and trustworthiness for health-related products.
- 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
North America dominates the market owing to the growing awareness about plant-based lifestyles, which is driving the demand for vegan supplements in this region.
Global Vegan Supplements Market Trends:
The increasing use of advanced delivery systems in vegan supplements is impelling the market growth. Traditional capsules and tablets are being transformed into more innovative forms like gummies, effervescent tablets, and sublingual strips. These novel delivery methods are designed to improve bioavailability, enhance absorption rates, and offer a more enjoyable consumption experience. This diversification in delivery systems not only makes supplements more appealing to a wider range of consumers but also addresses the challenge of pill fatigue, making daily supplementation more engaging and convenient. Moreover, the rising popularity of vegan supplements that cater to specific dietary restrictions or preferences, such as sugar-free, gluten-free, or allergen-free options is supporting the market growth.
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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