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Growing Popularity Of Veganism Fuels Expansion In The Vegan Supplements Market: Transformative Forces Shaping the Vegan Supplements Market Landscape in 2025
Vegan Supplements
What Will the Vegan Supplements Industry Market Size Be by 2025?
The vegan supplements market size has grown strongly in recent years. It will grow from $10.52 billion in 2024 to $11.44 billion in 2025 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.
What's the Long-Term Growth Forecast for the Vegan Supplements Market Size Through 2029?
The vegan supplements market size is expected to see strong growth in the next few years. It will grow to $16.41 billion in 2029 at a compound annual growth rate (CAGR) of 9.5%. 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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What Are the Key Growth Drivers Fueling the Vegan Supplements Market Expansion?
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 January 2024, according to a survey conducted by Finder.com LLC, a US-based personal finance comparison site, there were 2.5 million vegans in early 2024, which was an increase from 1.1 million in 2023. Therefore, the rising popularity of veganism is driving the vegan supplements market.
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What Are the Key Trends Driving Vegan Supplements Market Growth?
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.
How Is the Vegan Supplements Market Segmented?
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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Which Companies Are Leading the Charge in Vegan Supplements Market Innovation?
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.
Which Regions Are Leading the Global Vegan Supplements Market in Revenue?
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
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