The Global Vegan Supplements Market size accounted for US$ 9,219 Million in 2021 and is anticipated to reach US$ 16,757 Million by 2030 with a CAGR of 7% from 2022 to 2030.

Vegan supplements are those that contain minerals, vitamins, proteins, and amino acids as well as mixtures that promote overall health. They help to improve biological functioning by enhancing the nutrition achieved from a regular diet. A plant-based diet has numerous health benefits, along with a lower risk of heart disease and diabetes, as well as protection against certain cancers. A vegan diet is one that is entirely plant-based and excludes all animal foods and products. According to a 2020 survey, 5% of consumers follow a vegan diet, and interest appears to be growing. Many people want to eat fewer animal products, whether for health or environmental reasons. A vegan diet that is well-planned can satisfy the majority of your nutritional needs while also offering some health benefits. As a vegan, however, you must be cautious to avoid mineral and vitamin inadequacies, especially B12.

Market Dynamics

Consumers have become extremely worried about their overall health and wellness as a result of COVID-19's impact on the physical and mental well-being of almost everyone around the world. Furthermore, consumers are more aware of their immunity and weight gain, which became a problem during the pandemic as people became increasingly inactive. As a result of these factors, people seek out healthy alternatives to combat chronic diseases like diabetes and obesity.

Consumers are becoming more open to vegetarian and vegan diets as a result of environmental, dietary, and ethical factors. According to the Vegan Society, between 2014 and 2019, the number of vegans in the UK amplified by nearly fourfold. Vegans make up 3-4 percent of the population in the United States, depending on age group. According to the Vegetarian Times Magazine study "Vegetarianism in America," there have been a higher proportion of vegans in the United States. Furthermore, according to a larger survey conducted by The Vegan Society, the number of vegans quadrupled between 2014 and 2018. In addition, the growth of the fitness industry, a transition in demand for meat substitutes, rising consciousness of the advantages of a protein-rich nutrition and proteins, an increasing vegan population, and rising demands from the f&b industry all benefit the vegan supplements market.

Despite these benefits, there are a few things to consider before embarking on a vegan diet. Vegans, for example, are more susceptible to problems in key nutrients such as vitamin B-12, zinc, and calcium, all of which play important roles in the body. According to recent research, vegans consume only about 10% to 20% of the daily recommended amount of vitamin B-12. The availability of a wide range of synthetic supplements, as well as their lower cost when compared to vegan supplements, is expected to stymie the vegan supplements market's growth. In the forecast period of 2021-2028, the vegan supplements market is expected to be challenged by the implementation of strict regulations and norms in some regions.

Market Insights

Product type, form, distribution channel, and region are the four categories of the global vegan supplements industry. Based on the product type sector, the segmentation includes minerals, proteins, vitamins, and others. According to our research, the vitamins segment will dominate the vegan supplements market in the coming years. Vitamin supplements are prescribed to people of all ages for both prevention and treatment. Stress is said to be relieved by taking vegan vitamin supplements.

The form segment is divided into capsules/tablets, powder, and others. Based on form, the capsules/tablets segment achieved a significant growth rate during the forecasted timeframe 2022 – 2030 as the most common types of vegan supplements on the market are tablets, capsules, and soft gels. The distribution channel segment is further categorized into specialty stores, hypermarket/supermarket, pharmacies/drug stores, and online sales channel. Among them, specialty stores segment achieved a significant amount of market share in 2021.

Global Vegan Supplements Market Geographical Competition

The global vegan supplements industry is divided into North America, Europe, Latin America, Asia-Pacific, and the Middle East and Africa. North America will have the largest market share of any region in 2021. Rising consumer awareness about the consumption of a nutritious diet, as well as rising awareness about vegan diets and a shifting trend towards vegetarianism, are some of the factors driving the North American vegan supplements market. In addition, Europe holds the second-largest share of the global vegan supplement market. Europeans see dietary supplements as products that help them improve their health and well-being. As a result, purchasing such products is viewed as a preventative measure against health issues. On the other hand, the Asia-Pacific region is attributed to the fastest growing region throughout the forecast timeframe 2022 to 2030.

Global Vegan Supplements Industry Segment Analysis

Vegan Supplements Market By Product Type

·         Vitamins

·         Proteins

·         Minerals

·         Others

Vegan Supplements Market By Form

·         Powder

·         Capsules/Tablets

·         Others

Vegan Supplements Market By Distribution Channel

·         Pharmacies/Drug Stores

·         Hypermarket/Supermarket

·         Online Sales Channel

·         Specialty Stores

Vegan Supplements Market Leading Companies

This section of the study honors the market's top vendors Bhu Foods, Biosteel Sports Nutrition Inc., Blue Diamond Growers, Country Life, LLC, Danone S.A., Garden of Life, General Mills Inc., NuGo Nutrition, PepsiCo Inc., and Wonder Laboratories are the key companies mentioned in the research.

Vegan Supplements Market Regions