Vegan Supplements Market Industry Report 2022-2027: Global Size, Share, Trends, Growth and Forecast

The latest research study "Vegan Supplements Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" by IMARC Group, finds that the Global Vegan Supplements Market size reached US$ 6.97 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 10.88 Billion by 2027 exhibiting a CAGR of 7.50% during 2022-2027.

Covid-19 Impact:

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

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Industry Definition and Application:

Vegan supplements are obtained from plant-based sources to meet the human body's nutritional requirements. They are free from animal by-products, such as milk, meat, or eggs. They are a rich source of vitamins B12 and D, omega-3 fatty acids, iron, protein, calcium, zinc, and iodine. They are widely available in the form of pills, capsules, powders, tablets, and liquids. In recent years, vegan supplements have gained immense traction among the vegan population as they promote the intake of proper nutrients, enhance cognitive abilities, improve athletic performance, manage weight, and strengthen immunity.

Vegan Supplements Market Trends and Drivers:

The global vegan supplement market is primarily driven by the increasing adoption of veganism due to growing health and environmental concerns and animal welfare.

Apart from this, the rising applications of vegan supplements in sports nutrition for minimizing inflammation risk and improving cholesterol levels, arterial flexibility, and blood viscosity have augmented the product demand. Additionally, there has been a significant shift toward healthier lifestyles owing to the widespread prevalence of chronic lifestyle diseases.

Besides this, the growing awareness regarding the benefits of vegan supplements and the shifting consumer inclination toward clean-label and energy-rich products have accelerated the adoption of vegan supplements. Furthermore, several product innovations, such as the launch of vegan supplements with extended shelf life in vanilla, chocolate, berry, and other flavors, have catalyzed market growth.
Other factors, including the expanding geriatric population, shifting dietary preferences, inflating consumer expenditure capacities, and easy product availability via online channels, are also anticipated to drive the market further.

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Report Segmentation:

The report has been segmented the market into following categories:

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

List of Major Key Players:
The major players in the market are 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.

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This release was published on openPR.