Press release
Global Vegan Supplements Market Outlook 2025-2034: Trends, Innovations, And Future Outlook
Vegan Supplements
What Is the Expected Vegan Supplements Market Size During the Forecast Period?
The size of the vegan supplements market has demonstrated robust growth in the recent past. It is anticipated to expand from $10.52 billion in 2024 to $11.44 billion in 2025, reflecting a compound annual growth rate (CAGR) of 8.8%. The growth during the historical period can be ascribed to factors like heightened health consciousness, growth in the vegan population, ethical and environmental considerations, product innovation, and endorsements by celebrities.
In the coming years, a significant expansion is projected for the vegan supplements market, with its size growing to $16.41 billion in 2029, at a compound annual growth rate (CAGR) of 9.5%. This growth in the projected period can be credited to the persistent health and wellness movement, an expanding middle-class demographic, broader distribution networks, concerns about climate change, and shifting consumer tastes. The forecast period will also see primary trends like an increased requirement for plant-based nutrition, sustainable and environmentally friendly practices, innovation in ingredients and formulae, a focus on clearly labelled products, and more personalized product offerings.
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What Are the Major Segments in the Vegan Supplements Market?
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: Hyper market Or Super market, Convenience Stores, Drug Stores And Pharmacies, Health And Wellness Stores, Online Retailing, Other Distribution Channels
Subsegments:
1) By Minerals: Calcium, Iron, Magnesium, Zinc, Potassium
2) By Vitamins: Vitamin B12, Vitamin D, Vitamin C, Vitamin E, Multivitamins
3) By Protein: Pea Protein, Rice Protein, Hemp Protein, Soy Protein, Other Plant-Based Protein Sources
4) By Other Products: Omega-3 Fatty Acids, Probiotics, Herbal Supplements, Amino Acids
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What Are The Driving Vegan Supplements Market Evolution?
The surge in veganism is anticipated to boost the expansion of the vegan supplements market in the future. A vegan diet primarily includes plant-based foods and avoids intake or usage of any animal products. This escalating trend of veganism is strengthening the vegan supplement sector, with vegans relying on supplements for essential vitamins like vitamin B12, vitamin D3, and folic acid. For example, a survey conducted by Finder.com LLC, a personal finance comparison website based in the US, revealed that in January 2024, vegan population numbered at 2.5 million, a significant rise from the 1.1 million in 2023. Consequently, the growing trend of veganism is key to the progression of the vegan supplements market.
Which Firms Dominate The Vegan Supplements Market Segments?
Major companies 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, 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., Aloha Technology Private Limited, NuGo Nutrition LLC, One Brands LLC, G&G Vitamins Ltd., Glanbia plc, Herbalife Nutrition Ltd.
What Trends Are Expected to Dominate the Vegan Supplements Market in the Next 5 Years?
Product innovation is emerging as a key trend in the vegan supplement market. Many prominent companies in the sector are focusing on creating innovative products to secure their market position. For example, in August 2022, Vital Nutrients, a US-based nutraceutical development and marketing company, introduced a new product called Ultra Pure Vegan Omega SPM+. This groundbreaking vegan algae omega preparation comes in a 40% smaller pill than conventional fish oils, enhancing patient adherence. It's worth noting that the unique plant-based omega-3 fatty acid formulation, coupled with a therapeutic level of potent SPMs, possibly aids in combating inflammation up to five times more effectively than omega-3s only. Moreover, this supplement contains 390 mg of DHA, contributing to optimal immune responses and cardiovascular health, while also fostering neurological function and cognitive performance.
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Which Is The Largest Region In The Vegan Supplements Market?
North America was the largest region in the vegan supplements market in 2024. The regions covered in the vegan supplements market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Vegan Supplements Market?
2. What is the CAGR expected in the Vegan Supplements Market?
3. What Are the Key Innovations Transforming the Vegan Supplements Industry?
4. Which Region Is Leading the Vegan Supplements Market?
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