As per Inkwood Research, the global vegan supplements market is projected to register a CAGR of 8.50% between 2022 and 2030, generating revenue of $17076.50 million by 2030. Vegan supplements are dietary supplements produced from plant-based ingredients such as pea, soy, flaxseeds, and others.
GLOBAL VEGAN SUPPLEMENTS MARKET FORECAST 2022-2030
Global Vegan Supplements Market by Product (Protein, Vitamins, Minerals, Other Products) Market by Distribution Channel (Pharmacy, Specialty Stores, Hypermarket, Online Stores) Market by Form (Capsules & Tablets Form, Powder Form, Other Forms) by Geography.
As per Inkwood Research, the global vegan supplements market is projected to register a CAGR of 8.50% between 2022 and 2030, generating revenue of $17076.50 million by 2030.
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Vegan supplements are dietary supplements produced from plant-based ingredients such as pea, soy, flaxseeds, and others. These products are beneficial in supplementing the diet in the form of capsules and tablets, powder, and other forms such as liquid. The supplements help provide nutrients such as protein, vitamins, minerals, amino acids, good fats, and fiber. Moreover, the growth in the vegan food market is set to foster the demand for vegan supplements over the forecast period.
Key factors propelling the global vegan supplements market growth:
- Preference for vegan diet
- Awareness about healthy lifestyle
- Lactose intolerance
- Demand for sports nutrition and supplements
- Increasing awareness about the importance of nutrition and diet in improving sports performance is considered a prime driver for the growth of the global vegan supplements market.
- Many sports celebrities are also adopting a vegan lifestyle, likely to spur the demand for vegan supplements.
Major growth restraining factors:
- Stringent regulations
- Fake products
- Incidences of counterfeit products in the market are increasing. This factor may hinder the revenue growth of genuine supplements sellers.
- Also, the adverse impact of fake products on the health of the consumer may hamper companies’, as well as the entire market’s trust and image.
The report on the global vegan supplements market includes the segmentation analysis based on product, form, and distribution channel. These segments are further classified to provide a detailed analysis of the studied market.
Market by Distribution Channel:
- Pharmacy
- Specialty Stores
- Hypermarket
- Online Stores
- Online stores is the fastest-growing distribution channel.
- The COVID-19 lockdown further increased the share of the online channel for vegan supplements’ purchases.
- The majority of the producers of vegan supplements also sell directly to consumers through the online route.
Geographically, the global vegan supplements market has been segmented based on four major regions, which includes:
- North America: The United States and Canada
- Europe: Germany, the United Kingdom, Italy, France, Italy, Belgium, Russia, Scandinavia, and Rest of Europe
- Asia-Pacific: India, China, Japan, South Korea, Indonesia, Thailand, Singapore, Australia & New Zealand, and Rest of Asia-Pacific.
- Asia-Pacific is the fastest-growing region in the global vegan supplements market.
- The increasing awareness about the health benefits of vegan diets, competent distribution channels, and the rising preference for plant-based diets are among the key drivers fueling the region’s market growth.
- Rest of World: Latin America, the Middle East & Africa
Major players in the global vegan supplements market:
- Kerry Group
- Amway
- Glanbia PLC
- GNC Holdings
- Herbalife Ltd
- Archer Daniels Midland (ADM) Company
Key strategies adopted by some of these companies:
In July 2021, ADM acquired Sojaprotein, a leading European provider of non-GMO soy ingredients. The addition of the largest plant-based protein producer in southern Europe would enhance ADM’s production capacity and expand capabilities to meet the fast-growing global demand for plant-based proteins.
Key findings of the global vegan supplements market:
- Protein is the dominating product with the largest revenue share across the global vegan supplements market.
- Under the form category, powder form harbored the highest market share in the global vegan supplements market in 2021.
- Online channel of distribution is gradually gaining pace in the global vegan supplements market.
Frequently Asked Questions (FAQs):
- Which is the fastest-growing form in the global vegan supplements market?
A: Capsules & tablets is the fastest-growing form within the global vegan supplements market.
- Which is the dominating distribution channel in the global vegan supplements market?
A: Pharmacy is the dominating distribution channel in the global vegan supplements market.
- RESEARCH SCOPE & METHODOLOGY
- STUDY OBJECTIVES
- SCOPE OF STUDY
- METHODOLOGY
- ASSUMPTIONS & LIMITATIONS
- EXECUTIVE SUMMARY
- MARKET SIZE & ESTIMATES
- MARKET OVERVIEW
- MARKET DYNAMICS
- MARKET SCOPE
- KEY DRIVERS
- PREFERENCE FOR VEGAN DIET
- AWARENESS ABOUT HEALTHY LIFESTYLE
- LACTOSE INTOLERANCE
- DEMAND FOR SPORTS NUTRITION AND SUPPLEMENTS
- KEY RESTRAINTS
- STRINGENT REGULATIONS
- FAKE PRODUCTS
- KEY ANALYTICS
- IMPACT OF COVID-19 ON VEGAN SUPPLEMENTS MARKET
- KEY MARKET TRENDS
- PORTER’S FIVE FORCES ANALYSIS
- BUYERS POWER
- SUPPLIERS POWER
- SUBSTITUTION
- NEW ENTRANTS
- INDUSTRY RIVALRY
- OPPORTUNITY MATRIX
- VENDOR LANDSCAPE
- MARKET BY PRODUCT
- PROTEIN
- VITAMINS
- MINERALS
- OTHER PRODUCTS
- MARKET BY DISTRIBUTION CHANNEL
- PHARMACY
- SPECIALTY STORES
- HYPERMARKET
- ONLINE STORES
- MARKET BY FORM
- CAPSULES & TABLETS FORM
- POWDER FORM
- OTHER FORMS
- GEOGRAPHICAL ANALYSIS
- NORTH AMERICA
- MARKET SIZE & ESTIMATES
- KEY GROWTH ENABLERS
- KEY CHALLENGES
- KEY PLAYERS
- COUNTRY ANALYSIS
- UNITED STATES
- CANADA
- EUROPE
- MARKET SIZE & ESTIMATES
- KEY GROWTH ENABLERS
- KEY CHALLENGES
- KEY PLAYERS
- COUNTRY ANALYSIS
- UNITED KINGDOM
- GERMANY
- FRANCE
- ITALY
- RUSSIA
- BELGIUM
- SCANDINAVIA
- REST OF EUROPE
- ASIA-PACIFIC
- MARKET SIZE & ESTIMATES
- KEY GROWTH ENABLERS
- KEY CHALLENGES
- KEY PLAYERS
- COUNTRY ANALYSIS
- CHINA
- JAPAN
- INDIA
- SOUTH KOREA
- INDONESIA
- THAILAND
- SINGAPORE
- AUSTRALIA & NEW ZEALAND
- REST OF ASIA-PACIFIC
- REST OF WORLD
- MARKET SIZE & ESTIMATES
- KEY GROWTH ENABLERS
- KEY CHALLENGES
- KEY PLAYERS
- COUNTRY ANALYSIS
- LATIN AMERICA
- MIDDLE EAST & AFRICA
- NORTH AMERICA
- COMPETITIVE LANDSCAPE
- KEY STRATEGIC DEVELOPMENTS
- MERGERS & ACQUISITIONS
- PRODUCT LAUNCHES & DEVELOPMENTS
- PARTNERSHIPS, CONTRACTS/AGREEMENTS & COLLABORATIONS
- BUSINESS EXPANSIONS
- COMPANY PROFILES
- AMWAY
- ARCHER DANIELS MIDLAND COMPANY
- COUNTRY LIFE
- DUPONT INC
- GLANBIA PLC
- GNC HOLDINGS
- HERBALIFE LTD
- KERRY GROUP
- NESTLE
- NUGO NUTRITION
- KEY STRATEGIC DEVELOPMENTS
LIST OF TABLES
TABLE 1: MARKET SNAPSHOT – VEGAN SUPPLEMENTS
TABLE 2: GLOBAL VEGAN SUPPLEMENTS MARKET, BY PRODUCT, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)
TABLE 3: GLOBAL VEGAN SUPPLEMENTS MARKET, BY PRODUCT, FORECAST YEARS, 2022-2030 (IN $ MILLION)
TABLE 4: GLOBAL PROTEIN MARKET, BY REGION, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)
TABLE 5: GLOBAL PROTEIN MARKET, BY REGION, FORECAST YEARS, 2022-2030 (IN $ MILLION)
TABLE 6: GLOBAL VITAMINS MARKET, BY REGION, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)
TABLE 7: GLOBAL VITAMINS MARKET, BY REGION, FORECAST YEARS, 2022-2030 (IN $ MILLION)
TABLE 8: GLOBAL MINERALS MARKET, BY REGION, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)
TABLE 9: GLOBAL MINERALS MARKET, BY REGION, FORECAST YEARS, 2022-2030 (IN $ MILLION)
TABLE 10: GLOBAL OTHER PRODUCTS MARKET, BY REGION, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)
TABLE 11: GLOBAL OTHER PRODUCTS MARKET, BY REGION, FORECAST YEARS, 2022-2030 (IN $ MILLION)
TABLE 12: GLOBAL VEGAN SUPPLEMENTS MARKET, BY DISTRIBUTION CHANNEL, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)
TABLE 13: GLOBAL VEGAN SUPPLEMENTS MARKET, BY DISTRIBUTION CHANNEL, FORECAST YEARS, 2022-2030 (IN $ MILLION)
TABLE 14: GLOBAL PHARMACY MARKET, BY REGION, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)
TABLE 15: GLOBAL PHARMACY MARKET, BY REGION, FORECAST YEARS, 2022-2030 (IN $ MILLION)
TABLE 16: GLOBAL SPECIALTY STORES MARKET, BY REGION, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)
TABLE 17: GLOBAL SPECIALTY STORES MARKET, BY REGION, FORECAST YEARS, 2022-2030 (IN $ MILLION)
TABLE 18: GLOBAL HYPERMARKET MARKET, BY REGION, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)
TABLE 19: GLOBAL HYPERMARKET MARKET, BY REGION, FORECAST YEARS, 2022-2030 (IN $ MILLION)
TABLE 20: GLOBAL ONLINE STORES MARKET, BY REGION, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)
TABLE 21: GLOBAL ONLINE STORES MARKET, BY REGION, FORECAST YEARS, 2022-2030 (IN $ MILLION)
TABLE 22: GLOBAL VEGAN SUPPLEMENTS MARKET, BY FORM, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)
TABLE 23: GLOBAL VEGAN SUPPLEMENTS MARKET, BY FORM, FORECAST YEARS, 2022-2030 (IN $ MILLION)
TABLE 24: GLOBAL CAPSULES & TABLETS FORM MARKET, BY REGION, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)
TABLE 25: GLOBAL CAPSULES & TABLETS FORM MARKET, BY REGION, FORECAST YEARS, 2022-2030 (IN $ MILLION)
TABLE 26: GLOBAL POWDER FORM MARKET, BY REGION, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)
TABLE 27: GLOBAL POWDER FORM MARKET, BY REGION, FORECAST YEARS, 2022-2030 (IN $ MILLION)
TABLE 28: GLOBAL OTHER FORMS MARKET, BY REGION, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)
TABLE 29: GLOBAL OTHER FORMS MARKET, BY REGION, FORECAST YEARS, 2022-2030 (IN $ MILLION)
TABLE 30: GLOBAL VEGAN SUPPLEMENTS MARKET, BY GEOGRAPHY, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)
TABLE 31: GLOBAL VEGAN SUPPLEMENTS MARKET, BY GEOGRAPHY, FORECAST YEARS, 2022-2030 (IN $ MILLION)
TABLE 32: NORTH AMERICA VEGAN SUPPLEMENTS MARKET, BY COUNTRY, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)
TABLE 33: NORTH AMERICA VEGAN SUPPLEMENTS MARKET, BY COUNTRY, FORECAST YEARS, 2022-2030 (IN $ MILLION)
TABLE 34: KEY PLAYERS OPERATING IN NORTH AMERICA VEGAN SUPPLEMENTS MARKET
TABLE 35: EUROPE VEGAN SUPPLEMENTS MARKET, BY COUNTRY, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)
TABLE 36: EUROPE VEGAN SUPPLEMENTS MARKET, BY COUNTRY, FORECAST YEARS, 2022-2030 (IN $ MILLION)
TABLE 37: KEY PLAYERS OPERATING IN EUROPE VEGAN SUPPLEMENTS MARKET
TABLE 38: ASIA-PACIFIC VEGAN SUPPLEMENTS MARKET, BY COUNTRY, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)
TABLE 39: ASIA-PACIFIC VEGAN SUPPLEMENTS MARKET, BY COUNTRY, FORECAST YEARS, 2022-2030 (IN $ MILLION)
TABLE 40: KEY PLAYERS OPERATING IN ASIA-PACIFIC VEGAN SUPPLEMENTS MARKET
TABLE 41: REST OF WORLD VEGAN SUPPLEMENTS MARKET, BY COUNTRY, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)
TABLE 42: REST OF WORLD VEGAN SUPPLEMENTS MARKET, BY COUNTRY, FORECAST YEARS, 2022-2030 (IN $ MILLION)
TABLE 43: KEY PLAYERS OPERATING IN REST OF WORLD VEGAN SUPPLEMENTS MARKET
TABLE 44: LIST OF MERGERS & ACQUISITIONS
TABLE 45: LIST OF PRODUCT LAUNCHES & DEVELOPMENTS
TABLE 46: LIST OF PARTNERSHIPS, CONTRACTS/AGREEMENTS & COLLABORATIONS
TABLE 47: LIST OF BUSINESS EXPANSIONS
LIST OF FIGURES
FIGURE 1: KEY MARKET TRENDS
FIGURE 2: PORTER’S FIVE FORCES ANALYSIS
FIGURE 3: OPPORTUNITY MATRIX
FIGURE 4: VENDOR LANDSCAPE
FIGURE 5: GLOBAL VEGAN SUPPLEMENTS MARKET, GROWTH POTENTIAL, BY PRODUCT, IN 2021
FIGURE 6: GLOBAL VEGAN SUPPLEMENTS MARKET, BY PROTEIN, 2022-2030 (IN $ MILLION)
FIGURE 7: GLOBAL VEGAN SUPPLEMENTS MARKET, BY VITAMINS, 2022-2030 (IN $ MILLION)
FIGURE 8: GLOBAL VEGAN SUPPLEMENTS MARKET, BY MINERALS, 2022-2030 (IN $ MILLION)
FIGURE 9: GLOBAL VEGAN SUPPLEMENTS MARKET, BY OTHER PRODUCTS, 2022-2030 (IN $ MILLION)
FIGURE 10: GLOBAL VEGAN SUPPLEMENTS MARKET, GROWTH POTENTIAL, BY DISTRIBUTION CHANNEL, IN 2021
FIGURE 11: GLOBAL VEGAN SUPPLEMENTS MARKET, BY PHARMACY, 2022-2030 (IN $ MILLION)
FIGURE 12: GLOBAL VEGAN SUPPLEMENTS MARKET, BY SPECIALTY STORES, 2022-2030 (IN $ MILLION)
FIGURE 13: GLOBAL VEGAN SUPPLEMENTS MARKET, BY HYPERMARKET, 2022-2030 (IN $ MILLION)
FIGURE 14: GLOBAL VEGAN SUPPLEMENTS MARKET, BY ONLINE STORES, 2022-2030 (IN $ MILLION)
FIGURE 15: GLOBAL VEGAN SUPPLEMENTS MARKET, GROWTH POTENTIAL, BY FORM, IN 2021
FIGURE 16: GLOBAL VEGAN SUPPLEMENTS MARKET, BY CAPSULES & TABLETS FORM, 2022-2030 (IN $ MILLION)
FIGURE 17: GLOBAL VEGAN SUPPLEMENTS MARKET, BY POWDER FORM, 2022-2030 (IN $ MILLION)
FIGURE 18: GLOBAL VEGAN SUPPLEMENTS MARKET, BY OTHER FORMS, 2022-2030 (IN $ MILLION)
FIGURE 19: NORTH AMERICA VEGAN SUPPLEMENTS MARKET, COUNTRY OUTLOOK, 2021 & 2030 (IN %)
FIGURE 20: UNITED STATES VEGAN SUPPLEMENTS MARKET, 2022-2030 (IN $ MILLION)
FIGURE 21: CANADA VEGAN SUPPLEMENTS MARKET, 2022-2030 (IN $ MILLION)
FIGURE 22: EUROPE VEGAN SUPPLEMENTS MARKET, COUNTRY OUTLOOK, 2021 & 2030 (IN %)
FIGURE 23: UNITED KINGDOM VEGAN SUPPLEMENTS MARKET, 2022-2030 (IN $ MILLION)
FIGURE 24: GERMANY VEGAN SUPPLEMENTS MARKET, 2022-2030 (IN $ MILLION)
FIGURE 25: FRANCE VEGAN SUPPLEMENTS MARKET, 2022-2030 (IN $ MILLION)
FIGURE 26: ITALY VEGAN SUPPLEMENTS MARKET, 2022-2030 (IN $ MILLION)
FIGURE 27: RUSSIA VEGAN SUPPLEMENTS MARKET, 2022-2030 (IN $ MILLION)
FIGURE 28: BELGIUM VEGAN SUPPLEMENTS MARKET, 2022-2030 (IN $ MILLION)
FIGURE 29: SCANDINAVIA VEGAN SUPPLEMENTS MARKET, 2022-2030 (IN $ MILLION)
FIGURE 30: REST OF EUROPE VEGAN SUPPLEMENTS MARKET, 2022-2030 (IN $ MILLION)
FIGURE 31: ASIA-PACIFIC VEGAN SUPPLEMENTS MARKET, COUNTRY OUTLOOK, 2021 & 2030 (IN %)
FIGURE 32: CHINA VEGAN SUPPLEMENTS MARKET, 2022-2030 (IN $ MILLION)
FIGURE 33: JAPAN VEGAN SUPPLEMENTS MARKET, 2022-2030 (IN $ MILLION)
FIGURE 34: INDIA VEGAN SUPPLEMENTS MARKET, 2022-2030 (IN $ MILLION)
FIGURE 35: SOUTH KOREA VEGAN SUPPLEMENTS MARKET, 2022-2030 (IN $ MILLION)
FIGURE 36: INDONESIA VEGAN SUPPLEMENTS MARKET, 2022-2030 (IN $ MILLION)
FIGURE 37: THAILAND VEGAN SUPPLEMENTS MARKET, 2022-2030 (IN $ MILLION)
FIGURE 38: SINGAPORE VEGAN SUPPLEMENTS MARKET, 2022-2030 (IN $ MILLION)
FIGURE 39: AUSTRALIA & NEW ZEALAND VEGAN SUPPLEMENTS MARKET, 2022-2030 (IN $ MILLION)
FIGURE 40: REST OF ASIA-PACIFIC VEGAN SUPPLEMENTS MARKET, 2022-2030 (IN $ MILLION)
FIGURE 41: REST OF WORLD VEGAN SUPPLEMENTS MARKET, REGIONAL OUTLOOK, 2021 & 2030 (IN %)
FIGURE 42: LATIN AMERICA VEGAN SUPPLEMENTS MARKET, 2022-2030 (IN $ MILLION)
FIGURE 43: MIDDLE EAST & AFRICA VEGAN SUPPLEMENTS MARKET, 2022-2030 (IN $ MILLION)
- MARKET BY PRODUCT
- PROTEIN
- VITAMINS
- MINERALS
- OTHER PRODUCTS
- MARKET BY DISTRIBUTION CHANNEL
- PHARMACY
- SPECIALTY STORES
- HYPERMARKET
- ONLINE STORES
- MARKET BY FORM
- CAPSULES & TABLETS FORM
- POWDER FORM
- OTHER FORMS
- GEOGRAPHICAL ANALYSIS
- NORTH AMERICA
- MARKET SIZE & ESTIMATES
- KEY GROWTH ENABLERS
- KEY CHALLENGES
- KEY PLAYERS
- COUNTRY ANALYSIS
- UNITED STATES
- CANADA
- EUROPE
- MARKET SIZE & ESTIMATES
- KEY GROWTH ENABLERS
- KEY CHALLENGES
- KEY PLAYERS
- COUNTRY ANALYSIS
- UNITED KINGDOM
- GERMANY
- FRANCE
- ITALY
- RUSSIA
- BELGIUM
- SCANDINAVIA
- REST OF EUROPE
- ASIA-PACIFIC
- MARKET SIZE & ESTIMATES
- KEY GROWTH ENABLERS
- KEY CHALLENGES
- KEY PLAYERS
- COUNTRY ANALYSIS
- CHINA
- JAPAN
- INDIA
- SOUTH KOREA
- INDONESIA
- THAILAND
- SINGAPORE
- AUSTRALIA & NEW ZEALAND
- REST OF ASIA-PACIFIC
- REST OF WORLD
- MARKET SIZE & ESTIMATES
- KEY GROWTH ENABLERS
- KEY CHALLENGES
- KEY PLAYERS
- COUNTRY ANALYSIS
- LATIN AMERICA
- MIDDLE EAST & AFRICA
- NORTH AMERICA
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