Vegan Supplements Global Market Size, Share, Emerging Trends, Growth Drivers, Analysis, Report and Forecast 2024-2033 | Aloha Inc., Amway Corp., Deva Nutrition LLC, DuPont Inc., HTC Health Ltd.

"The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Vegan Supplements Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $14.86 billion In 2028 At A CAGR Of 9.0%.

The vegan supplements market size has grown strongly in recent years. It will grow from $9.66 billion in 2023 to $10.52 billion in 2024 at a compound annual growth rate (CAGR) of 8.8%. The growth in the historic period can be attributed to increasing health awareness, rising vegan population, ethical and environmental concerns, product innovation, celebrity endorsement.

The vegan supplements market size is expected to see strong growth in the next few years. It will grow to $14.86 billion in 2028 at a compound annual growth rate (CAGR) of 9.0%. The growth in the forecast period can be attributed to continued health and wellness trend, growing middle-class population, expansion of distribution channels, climate change concerns, evolving consumer preferences. Major trends in the forecast period include growing demand for plant-based nutrition, sustainable and eco-friendly practices, innovation in ingredients and formulations, focus on clean label products, personalization of products.

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Vegan Supplements Market Major Segments
The vegan supplements market covered in this report is segmented -
1) By Product Type: Minerals, Vitamins, Protein, Other Products
2) By Form: Powder, Liquid, Capsules, Bars, Other Forms
3) By Distribution Channel: Hypermarket Or Supermarket, Convenience Stores, Drug Stores And Pharmacies, Health And Wellness Stores, Online Retailing, Other Distribution Channels

Key Driver - Growing Popularity Of Veganism Fuels Expansion In The Vegan Supplements Market

The rising popularity of veganism is expected to propel the growth of the vegan supplements market going forward. Veganism is a diet that solely consists of plant-based meals and avoids the consumption and use of animal products. Veganism's growing popularity is bolstering the vegan supplement business, as vegans use supplements for vitamins such as vitamin B12, vitamin D3, and folic acid. For instance, in October 2023, according to the World Animal Foundation, a US-based website that advocates for animal rights, ethical pet ownership, and compassionate awareness, 6% of Americans identified as vegan. Nearly a third of Americans would want to eat more vegan meals. In 2021, sales of plant-based meals climbed by 27%. Therefore, the rising popularity of veganism is driving the vegan supplements market.

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Prominent Trend - Vital Nutrients Introduces Ultra Pure Vegan Omega Spm+ Redefining Vegan Supplement Market

Product innovation is the key trend gaining popularity in the vegan supplement market. Major businesses operating in the vegan supplement market are focused on developing innovative products to strengthen their position in the market. For instance, in August 2022, Vital Nutrients, a US-based company that develops and markets nutraceuticals, launched Ultra Pure Vegan Omega SPM+. Ultra Pure Vegan Omega SPM+ is a revolutionary vegan algae omega composition in a 40% smaller pill than standard fish oils for better patient adherence. The initial and exclusive plant-based composition of omega-3 fatty acids with therapeutically significant quantities of active SPMs may aid in treating inflammatory conditions up to five times more efficiently than omega-3s alone. The supplement also includes 390 mg of DHA, which helps maintain good immune system reactions and heart health. It also promotes healthy cognitive performance and nervous system function.

Vegan Supplements Market Players
Major companies operating in the vegan supplements market report are Aloha Inc., Amway Corp., Deva Nutrition LLC, DuPont Inc., HTC Health Ltd., Jarrow Formulas Inc., Nestlé S.A., Nutrazee, PepsiCo Inc., Kerry Group plc, Danone S.A., Bhu Foods, Vitamin Energy LLC, Solgar Inc., NOW Foods Pvt. Ltd., Natrol LLC, Garden of Life LLC, Pure Encapsulations LLC, Orgenetics Inc., Ora Organic Inc., Nutrazee Inc., Eversea, Blue Diamond Growers Inc., Aloha Technology Private Limited, NuGo Nutrition LLC, One Brands LLC, G&G Vitamins Ltd., Glanbia plc, Herbalife Nutrition Ltd. .

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Largest And Fastest Growing Region In The Market
North America was the largest region in the vegan supplements market in 2023. The regions covered in the vegan supplements market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Vegan Supplements Market Report Structure
3. Vegan Supplements Market Trends And Strategies
4. Vegan Supplements Market - Macro Economic Scenario
5. Vegan Supplements Market Size And Growth
…..
27. Vegan Supplements Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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