The global vegan supplements market is expected to develop at a CAGR of 11.3% from 2022-2032. It is anticipated to reach a valuation of approximately US$ 14,089.6 Mn by the end of 2032.
The market for vegan supplements is expected to grow at a fast pace from 2022 to 2032 as a result of rising concerns regarding animal health and protection on one side, and rising veganism on the other side. A strict vegetarian diet that forgoes all animal products, including milk, eggs, and meat, is known as a vegan diet. The global acceptance of vegan supplements, which have a high nutritional content, is a consequence of the beverages and food industry’s ongoing transformation.
Vitamins for vegetable lovers are nowadays much more necessary than ever. Consumers’ rising levels of healthy lifestyle consciousness and the rapidly expanding vegetarian population continue to be key drivers. It is founded on component labeling and the promotion of contributions that are high in energy.
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Key Takeaways from the Vegan Supplements Market Study
- Approximately 40% of consumers in the U.S. bought vegan products because they believe these products are nutritious.
- By form, the powder segment is expected to remain at the forefront by generating the largest vegan supplements market share.
- Nearly 75% of German households would want to see more vegetarian goods at supermarkets.
- Europe is estimated to drive demand in the vegan supplements market during the forecast period of 2022 to 2032.
- The vegan supplements market is expected to reach nearly US$ 4,803.6 Mn by 2022.
“Rising adoption of preventive healthcare practices and increasing prevalence of vitamin deficiencies are expected to bode well for the global vegan supplements market. Manufacturers and retailers are beginning to provide free access to “wellness tools” that would create a user-specific antioxidants list based on their specific requirements and conditions,” says a Future Market Insights analyst.
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Competitive Landscape: Vegan Supplements Market
Some of the key players are General Mills Inc., Garden of Life, Danone S.A., PepsiCo Inc. , Blue Diamond Growers Inc, ALOHA, NuGo Nutrition, One Brands, BHU Foods , G&G Foods, Country Life LLC, Wonder Laboratories, Now Health Group Inc., Jarrow Formulas, Kerry Group PLC, Nutritional Growth Solution, and others.
The global vegan supplements industry is moderately competitive and fragmented, with several mid and small-scale businesses. Key players operating in the global market are focusing on continuous product launches and new product developments to stay ahead in competition.
Explore More Valuable Insights on the Vegan Supplements Market
Future Market Insights, in its new report, offers an impartial analysis of the global vegan supplements market, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.
The study offers compelling insights based on the form (powder, liquid, capsules & soft gels, tablets, pills, gummies, and bars), based on ingredients (vitamins & minerals, amino acids & proteins, herbal & botanical ingredients, and others), based on health needs (weight loss, sports nutrition, general well-being, immune & digestive health, bone & joint health, heart health, and other specific requirements), based on customer orientation (men, women, senior citizen, and others), and based on sales channel (hypermarkets/supermarkets, pharmacies & drug stores, convenience stores, departmental stores, online retail stores and other sales channel), across seven major regions of the world.
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Vegan Supplements Market Outlook by Category
By Form:
- Powder
- Liquid
- Capsules & Soft Gels
- Tablet
- Pills
- Gummies
- Bars
By Ingredients:
- Vitamins & Minerals
- Amino Acids & Proteins
- Herbals & Botanicals
- Others
By Health Needs:
- Weight Loss
- Sports Nutrition
- General Well-being
- Immune & Digestive Health
- Bone & Joint Health
- Heart Health
- Other Specific Requirements
By Customer Orientation:
- Men
- Women
- Senior Citizen
- Others (Kids & Toddlers)
By Sales Channel:
- Hypermarkets/Supermarkets
- Pharmacies & Drug Stores
- Convenience Stores
- Departmental Stores
- Online Retail Stores
- Other Sales Channel
Explore FMI’s Other Extensive Reports of Food & Beverage:
Vegan Yogurt Market Share : The global vegan yogurt market size is expected to reach a market valuation of US$ 2.2 Bn in 2022, with sales growing at a robust 8.9% CAGR over the forecast period.
Vegan Pasta Market Size : The Vegan Pasta Market is estimated to be valued at USD 176 Mn in 2022
Vegan Protein Bars Market Demand : The global vegan protein bars market is expected to reach a market valuation of US$ 176.2 Mn by the year 2022, accelerating with a CAGR of 10.2% by 2022-2032.
Vegan Bacon Market Forecast : Registering a year-on-year (YoY) of 6.4%, the global vegan bacon market size is estimated to reach US$ 1,280 Mn in 2022 and is further expected to grow at a robust CAGR of 6.6% between 2022 and 2032.
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10 years.
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The post Vegan Supplements Market is to Cross US$ 14,089.6 Mn by 2032 with Burgeoning Demand for High Nutritional Content in Beverages appeared first on Future Market Insights.
Published by: Future Market Insights, Inc.