Press release
Vegan Supplements Market: Persistent Boom Carries Strong Growth Prospects
Vegan Supplements Market Size
What Is The Projected Market Size Of The Global Vegan Supplements Market And Its Growth Rate?
The vegan supplements market has witnessed a robust upward trajectory in recent times.
• The market grew from $10.52 billion in 2024 to $11.44 billion in 2025, expanding at a CAGR of 8.8%
• By 2029, the market is projected to skyrocket to $16.41 billion, growing at an impressive CAGR of 9.5%.
Factors such as heightened health awareness, increasing vegan population, environmental considerations, product innovation, and celebrity endorsement are propelling the historic growth pattern. Future growth trends are expected to be governed by the continued wellness trend, burgeoning middle-class population, expansion of distribution channels, climate change concerns, and evolving consumer preferences.
What Is Driving The Growth In The Vegan Supplements Market?
The vegan supplements market's growth is fuelled by the increased popularity of veganism. Considering the vegan diet's nutritional requirements, vegans rely heavily on supplements for vitamins B12, D3, and folic acid, thereby driving the market's growth. A highlight of this rise in veganism is the survey conducted by Finder.com LLC in January 2024, which showed an increase from 1.1 million vegans in 2023 to 2.5 million in 2024.
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Who Are the Key Players Driving Vegan Supplements Market Growth?
Major players operating in the vegan supplements market include:
• Aloha Inc.
• Amway Corp.
• Deva Nutrition LLC
• DuPont Inc.
• HTC Health Ltd.
• Jarrow Formulas Inc.
• Nestlé S.A.
• Nutrazee
• Kerry Group plc
• Danone S.A.
• Bhu Foods
These leading players are instrumental in driving global vegan supplements market growth.
What Are The Key Trends In The Vegan Supplements Market?
Key market trends include:
• Rising demand for plant-based nutrition
• Promotion of sustainable and eco-friendly practices
• Innovation in ingredients and formulations
• Increasing focus on clean label products
• Trends towards personalization of products
What Are The Segments Of The Global Vegan Supplements Market?
The global vegan supplements market can be segmented based on:
1) Product Type: Minerals, Vitamins, Protein, Other Products
2) Form: Powder, Liquid, Capsules, Bars, Other Forms
3) Distribution Channel: Hypermarket or Supermarket, Convenience Stores, Drug Stores and Pharmacies, Health and Wellness Stores, Online Retailing, Other Distribution Channels.
Which Region Leads The Vegan Supplements Market?
In 2024, North America held the largest share in the vegan supplements market. Along with North America, the regions covered in the market report include Asia-Pacific, Western Europe, Eastern Europe, South America, Middle East, and Africa.
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What Is Covered In The Vegan Supplements Market Global Market Report?
- Market Size Analysis: Analyze the Vegan Supplements Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Vegan Supplements Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Vegan Supplements Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Vegan Supplements Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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