Vegan Supplements Market Size (2024 - 2029)

Vegan Supplements Market Analysis

The Vegan supplements market is projected to register a CAGR of 6.7% during the forecast period, 2022-2027.

During the COVID-19 pandemic, the demand for vegan supplements had increased among the vegan population owing to its health benefits such as boosting immune function to fight against the virus. Additionally, consumers were increasingly inclined to lead a healthy lifestyle and improve their dietary habits during COVID-19 which in turn, raised the adoption of vegan supplements and propels the market growth. For instance, in 2020 the United States based Cymbiotika unveiled the launch of a vegan elderberry supplement to boost the immune function of consumers. Since the pandemic, social media marketing has been a major strategy that was adopted by various supplement manufacturers to impart awareness about their product offerings among the targeted customers.

In the short term, the trend toward strict vegan diets and the more lenient flexitarian approach and perception of dietary supplements are likely to boost the vegan supplements in the market.

Furthermore, the key factors augmenting the market growth are the increasing prevalence of lifestyle diseases, the rising aging population, and growing consumer awareness about the benefits of the products. Additionally, continuous development in product innovation and easy availability of vegan supplements on online and offline platforms is contributing to the market growth.

Vegan Supplements Industry Segmentation

Vegan Supplements are plant-sourced supplements that are consumed to reach the required dietary allowance. The global vegan supplements market (henceforth referred to as the market studied) is segmented by product type, form, distribution channel, and geography. By product type, the market is segmented into Vitamins, Minerals, proteins, Omega Supplements, and Other Vegan Supplements. Based on form, the market is segmented into Powder, Capsules, and Others. Based on the distribution channel, the market studied is segmented into Supermarkets/Hypermarkets, Pharmacies & Drug Stores, Online Retail Stores, and Other Distribution Channel. It provides an analysis of emerging and established economies across the world, comprising North America, Europe, South America, Asia-Pacific, the Middle East, and Africa. For each segment, the market sizing and forecasts have been done on the basis of value (in USD million).