Vegan Supplements Market Research Report - Global Forecast till 2027

Global Vegan Supplements Market Research Report: Information By Product Type (Vitamins, Minerals, Amino Acids & Proteins, Blends, Others), Form (Tablets, Capsules & Soft Gels, Powders, Gummies, others), Distribution Channel (Store-Based, Non-Store-Based), by Region – Forecast till 2027

ID: MRFR/F-B & N/8885-HCR | February 2021 | Region: Global | 90 pages

Please note that the assessment period of the report has been updated from 2019-2027 to 2020-2027. Cordially fill Sample form for the updated data.

Market Scenario


Global Vegan Supplements Market size is projected to reach approximately USD 7.5 Billion by 2027, at a CAGR of 5% from 2020 to 2027. Vegan supplements are products containing essential nutrients such as vitamins, minerals, amino acids & proteins, and blends that support good health. They help enhance bodily functions by adding to the nutrition derived from the regular diet. Growing consumer preference for a vegan diet is the key factor supporting the growth of the global vegan supplements market. Furthermore, the rising prevalence of lactose intolerance is supporting the growth of the market. Rising awareness and the importance of health and wellness have resulted in the growing adoption of vegan supplements among consumers. Marketing of vegan supplements on social media and innovative marketing strategies by vegan supplement manufacturers are creating an opportunistic market for the players in the global vegan supplements market. The strategic sales plans of vegan supplement manufacturers include the use of online channels for marketing and distribution along with product promotions at exhibitions and other platforms. Product launches by the key players are endorsing the growth of vegan supplements among consumers. For instance, Glanbia Nutritional has introduced HarvestPro vegan proteins. All the above factors are expected to create substantial growth opportunities for the global vegan supplements market.


The COVID-19 outbreak has turned the lives of the people upside down. Its impact across the industries is different. The COVID-19 outbreak has flipped the growth switch in every sector of the economy. The pandemic has forced countries all over the world to impose the lockdown. The outbreak of COVID-19 has resulted in a surge in demand for vegan supplements around the world. An increase in awareness of the health benefits of vegan supplement products is fueling their demand among consumers.


Market Synopsis


The global vegan supplements market has witnessed exponential growth in the last few years. In addition, the COVID-19 pandemic has created lucrative opportunities for vegan supplement manufacturers across the globe. Several health benefits are offered by vegan supplements, such as the reduction in blood pressure, improvements in the immune system, strengthening the bones, improvement in skin health, and prevention of kidney disease. Rising awareness of health benefits offered by vegan supplements is further expected to fuel the demand for vegan supplements among consumers.


Market USP


Increase in consumer preference shifting from synthetic food to natural vegan-based diets.


Market Drivers



  • Increasing focus on preventive healthcare: The adoption of a healthy lifestyle by consumers across the globe is increasing at a rapid pace. Consumers are increasingly opting for preventive healthcare, such as enriched food & beverages that offer health benefits and nutrition. The rising health benefits of vegan supplement products among consumers is supporting the growth of the market.

  • Rising awareness of the health benefits of vegan supplements

  • Positive outlook toward sports nutrition

  • Effective marketing strategies


Market Restraints



  • Increasing awareness regarding side-effects

  • Stringent Government Regulations


Segmentation


By Type



  • Vitamins: The segment accounted for the largest market share in 2019 and is projected to remain dominant during the forecast period. Vitamins supplements are being used by all age groups for both preventive and curative healthcare. Vegan vitamin supplements are considered stress relievers.

  • Minerals:

  • Amino Acids & Proteins:

  • Blends

  • Others:


By Form



  • Tablets, Capsules & Soft gels: Tablets, capsules & soft gels are the most common forms of vegan supplements available in the market. This form is expected to account for a major share of the global market during the forecast period. As compared to other forms, these forms have a longer shelf life. However, capsules are a highly preferred form, as they are easy to swallow than tablets.

  • Powders:

  • Gummies:

  • Others:


By Distribution Channel



  • Store-Based: The majority of vegan supplements are sold through store-based retailers. This segment has been further divided into supermarkets and hypermarkets, specialty stores, and others. The supermarkets and hypermarkets segment dominated the market in 2019 and is anticipated to dominate during the forecast period. Specialty stores play a significant role in the distribution of vegan supplements.



  • Non-Store-Based


By Region



  • North America: North America accounted for a major share of the global vegan supplements market during the forecast period. The growth of the market in this region is driven by increasing medical service costs across North America. The escalating medical service cost has resulted in a shift of consumers towards the adoption of healthy alternatives in the daily routine, and the consumption and the demand for vegan supplements have increased drastically.

  • Europe: Europe dominated the global vegan supplements market in 2019 with the increase in ready to eat meals in the region. The increasing investment in research and development of new vegan supplements is also expected to support the growth of the European market. Rising awareness of the health benefits of vegan supplements in Europe is expected to drive their consumption among consumers.

  • Asia-Pacific:

  • Rest of the World


Key Players



  • Jarrow Formulas (US)

  • Solgar Inc. (US)

  • Deva Nutrition LLC (US)

  • Natrol (US)

  • NOW Foods (US)

  • Garden of Life LLC (US)

  • Pure Encapsulations (US)

  • HTC Health (UK)

  • Ora Organic (US)



Report Scope:
Report Attribute/Metric Details
  Market Size    USD 7.5 Billion
  CAGR   5% (2020-2027)
  Base Year   2019
  Forecast Period   2027
  Historical Data   2018
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   By Type, By Form, By Distribution Channel, By Region
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Jarrow Formulas (US), Solgar Inc. (US), Deva Nutrition LLC (US), Natrol (US), NOW Foods (US), Garden of Life LLC (US), Pure Encapsulations (US), HTC Health (UK), Ora Organic (US)
  Key Market Opportunities

  • Reduction in blood pressure
  • Improvements in the immune system
  • Strengthening the bones
  • Improvement in skin health
  • Prevention of kidney disease
  •   Key Market Drivers

  • Increasing focus on preventive healthcare
  • Rising awareness of the health benefits of vegan supplements
  • Positive outlook toward sports nutrition
  • Effective marketing strategies