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GLOBAL VEGAN SUPPLEMENTS MARKET FORECAST 2021-2028

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GLOBAL VEGAN SUPPLEMENTS MARKET FORECAST 2021-2028

According to Inkwood Research, the global vegan supplements market is projected to register a CAGR of 8.12% between 2021 and 2028, and is anticipated to generate revenue of $14320 million by 2028.

Vegan supplements are dietary supplements produced from plant-based ingredients such as pea, soy, flaxseeds, etc. The supplements help provide nutrients such as protein, vitamins, minerals, amino acids, good fats, and fiber. The thriving vegan food market facilitates the demand for vegan supplements.

GLOBAL VEGAN SUPPLEMENTS MARKET FORECAST 2021-2028

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.

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According to Inkwood Research, the global vegan supplements market is projected to register a CAGR of 8.12% between 2021 and 2028, and is anticipated to generate revenue of $14320 million by 2028.

Vegan supplements are dietary supplements produced from plant-based ingredients such as pea, soy, flaxseeds, etc. The supplements help provide nutrients such as protein, vitamins, minerals, amino acids, good fats, and fiber. The thriving vegan food market facilitates the demand for vegan supplements.

vegan-supplements-market

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Key factors propelling the global vegan supplements market growth are:

  • Preference for vegan diets
  • Awareness about healthy lifestyle
  • Lactose intolerance
  • Demand for sports nutrition and supplements
    • The increasing awareness about the importance of nutrition and diet in improving sports performance is considered a key driver of the global vegan supplements market growth.
    • Many sports celebrities are adopting a vegan lifestyle which may also spur the demand for vegan supplements.

Major growth restraining factors:

  • Stringent regulations
  • Fake products
    • Incidences of counterfeit products in the market are increasing, which may hinder the revenue growth of genuine supplements sellers.
    • Also, the adverse impact of fake products on the consumer’s health may hamper the company’s and the entire market’s trust and image.

The report on the global vegan supplements market includes the segmentation analysis of 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 are the fastest-growing distribution channel. The COVID-19 lockdown further increased the share of the online channel for vegan supplements purchases.
    • Most of the producers of vegan supplements are also selling directly to the 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: The United Kingdom, Germany, France, Italy, Russia, Belgium, Scandinavia, and Rest of Europe
  • Asia-Pacific: China, Japan, India, South Korea, Indonesia, Thailand, Singapore, Australia & New Zealand, and Rest of Asia-Pacific
    • Asia-Pacific is the fastest-growing region in the global market.
    • The increasing awareness about the health benefits of vegan diets, competent distribution channels, and rising preference for plant-based diets are among the key drivers of market growth.
  • Rest of World: Latin America, the Middle East & Africa

The major players in the global vegan supplements market are:

  • Kerry Group
  • Amway
  • Glanbia Plc
  • GNC Holdings
  • Herbalife Ltd
  • Archer Daniels Midland (ADM) Company

Key strategies adopted by some of the vegan supplements 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.
  • Powder is the major form in the market, with the highest revenue share.

 

Frequently Asked Questions (FAQs):

  • Which is the fastest-growing form in the global vegan supplements market?

A: Capsules & tablets are the fastest-growing form in 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.

  1. RESEARCH SCOPE & METHODOLOGY
    • STUDY OBJECTIVES
    • SCOPE OF STUDY
    • METHODOLOGY
    • ASSUMPTIONS & LIMITATIONS
  2. EXECUTIVE SUMMARY
    • MARKET SIZE & ESTIMATES
    • MARKET OVERVIEW
  3. 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
  1. 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
  2. MARKET BY PRODUCT
    • PROTEIN
    • VITAMINS
    • MINERALS
    • OTHER PRODUCTS
  3. MARKET BY DISTRIBUTION CHANNEL
    • PHARMACY
    • SPECIALTY STORES
    • HYPERMARKET
    • ONLINE STORES
  4. MARKET BY FORM
    • CAPSULES & TABLETS FORM
    • POWDER FORM
    • OTHER FORMS
  5. 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
  1. 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

LIST OF TABLES

TABLE 1: MARKET SNAPSHOT – VEGAN SUPPLEMENTS

TABLE 2: GLOBAL VEGAN SUPPLEMENTS MARKET, BY PRODUCT, HISTORICAL YEARS 2016-2020 (IN $ MILLION)

TABLE 3: GLOBAL VEGAN SUPPLEMENTS MARKET, BY PRODUCT, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 4: GLOBAL PROTEIN MARKET, BY REGION, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 5: GLOBAL PROTEIN MARKET, BY REGION, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 6: GLOBAL VITAMINS MARKET, BY REGION, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 7: GLOBAL VITAMINS MARKET, BY REGION, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 8: GLOBAL MINERALS MARKET, BY REGION, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 9: GLOBAL MINERALS MARKET, BY REGION, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 10: GLOBAL OTHER PRODUCTS MARKET, BY REGION, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 11: GLOBAL OTHER PRODUCTS MARKET, BY REGION, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 12: GLOBAL VEGAN SUPPLEMENTS MARKET, BY DISTRIBUTION CHANNEL, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 13: GLOBAL VEGAN SUPPLEMENTS MARKET, BY DISTRIBUTION CHANNEL, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 14: GLOBAL PHARMACY MARKET, BY REGION, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 15: GLOBAL PHARMACY MARKET, BY REGION, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 16: GLOBAL SPECIALTY STORES MARKET, BY REGION, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 17: GLOBAL SPECIALTY STORES MARKET, BY REGION, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 18: GLOBAL HYPERMARKET MARKET, BY REGION, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 19: GLOBAL HYPERMARKET MARKET, BY REGION, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 20: GLOBAL ONLINE STORES MARKET, BY REGION, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 21: GLOBAL ONLINE STORES MARKET, BY REGION, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 22: GLOBAL VEGAN SUPPLEMENTS MARKET, BY FORM, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 23: GLOBAL VEGAN SUPPLEMENTS MARKET, BY FORM, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 24: GLOBAL CAPSULES & TABLETS FORM MARKET, BY REGION, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 25: GLOBAL CAPSULES & TABLETS FORM MARKET, BY REGION, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 26: GLOBAL POWDER FORM MARKET, BY REGION, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 27: GLOBAL POWDER FORM MARKET, BY REGION, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 28: GLOBAL OTHER FORMS MARKET, BY REGION, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 29: GLOBAL OTHER FORMS MARKET, BY REGION, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 30: GLOBAL VEGAN SUPPLEMENTS MARKET, BY GEOGRAPHY, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 31: GLOBAL VEGAN SUPPLEMENTS MARKET, BY GEOGRAPHY, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 32: NORTH AMERICA VEGAN SUPPLEMENTS MARKET, BY COUNTRY, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 33: NORTH AMERICA VEGAN SUPPLEMENTS MARKET, BY COUNTRY, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 34: KEY PLAYERS OPERATING IN NORTH AMERICA VEGAN SUPPLEMENTS MARKET

TABLE 35: EUROPE VEGAN SUPPLEMENTS MARKET, BY COUNTRY, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 36: EUROPE VEGAN SUPPLEMENTS MARKET, BY COUNTRY, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 37: KEY PLAYERS OPERATING IN EUROPE VEGAN SUPPLEMENTS MARKET

TABLE 38: ASIA-PACIFIC VEGAN SUPPLEMENTS MARKET, BY COUNTRY, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 39: ASIA-PACIFIC VEGAN SUPPLEMENTS MARKET, BY COUNTRY, FORECAST YEARS, 2021-2028 (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, 2016-2020 (IN $ MILLION)

TABLE 42: REST OF WORLD VEGAN SUPPLEMENTS MARKET, BY COUNTRY, FORECAST YEARS, 2021-2028 (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 2020

FIGURE 6: GLOBAL VEGAN SUPPLEMENTS MARKET, BY PROTEIN, 2021-2028 (IN $ MILLION)

FIGURE 7: GLOBAL VEGAN SUPPLEMENTS MARKET, BY VITAMINS, 2021-2028 (IN $ MILLION)

FIGURE 8: GLOBAL VEGAN SUPPLEMENTS MARKET, BY MINERALS, 2021-2028 (IN $ MILLION)

FIGURE 9: GLOBAL VEGAN SUPPLEMENTS MARKET, BY OTHER PRODUCTS, 2021-2028 (IN $ MILLION)

FIGURE 10: GLOBAL VEGAN SUPPLEMENTS MARKET, GROWTH POTENTIAL, BY DISTRIBUTION CHANNEL, IN 2020

FIGURE 11: GLOBAL VEGAN SUPPLEMENTS MARKET, BY PHARMACY, 2021-2028 (IN $ MILLION)

FIGURE 12: GLOBAL VEGAN SUPPLEMENTS MARKET, BY SPECIALTY STORES, 2021-2028 (IN $ MILLION)

FIGURE 13: GLOBAL VEGAN SUPPLEMENTS MARKET, BY HYPERMARKET, 2021-2028 (IN $ MILLION)

FIGURE 14: GLOBAL VEGAN SUPPLEMENTS MARKET, BY ONLINE STORES, 2021-2028 (IN $ MILLION)

FIGURE 15: GLOBAL VEGAN SUPPLEMENTS MARKET, GROWTH POTENTIAL, BY FORM, IN 2020

FIGURE 16: GLOBAL VEGAN SUPPLEMENTS MARKET, BY CAPSULES & TABLETS FORM, 2021-2028 (IN $ MILLION)

FIGURE 17: GLOBAL VEGAN SUPPLEMENTS MARKET, BY POWDER FORM, 2021-2028 (IN $ MILLION)

FIGURE 18: GLOBAL VEGAN SUPPLEMENTS MARKET, BY OTHER FORMS, 2021-2028 (IN $ MILLION)

FIGURE 19: NORTH AMERICA VEGAN SUPPLEMENTS MARKET, REGIONAL OUTLOOK, 2020 & 2028 (IN %)

FIGURE 20: UNITED STATES VEGAN SUPPLEMENTS MARKET, 2021-2028 (IN $ MILLION)

FIGURE 21: CANADA VEGAN SUPPLEMENTS MARKET, 2021-2028 (IN $ MILLION)

FIGURE 22: EUROPE VEGAN SUPPLEMENTS MARKET, REGIONAL OUTLOOK, 2020 & 2028 (IN %)

FIGURE 23: UNITED KINGDOM VEGAN SUPPLEMENTS MARKET, 2021-2028 (IN $ MILLION)

FIGURE 24: GERMANY VEGAN SUPPLEMENTS MARKET, 2021-2028 (IN $ MILLION)

FIGURE 25: FRANCE VEGAN SUPPLEMENTS MARKET, 2021-2028 (IN $ MILLION)

FIGURE 26: ITALY VEGAN SUPPLEMENTS MARKET, 2021-2028 (IN $ MILLION)

FIGURE 27: RUSSIA VEGAN SUPPLEMENTS MARKET, 2021-2028 (IN $ MILLION)

FIGURE 28: BELGIUM VEGAN SUPPLEMENTS MARKET, 2021-2028 (IN $ MILLION)

FIGURE 29: SCANDINAVIA VEGAN SUPPLEMENTS MARKET, 2021-2028 (IN $ MILLION)

FIGURE 30: REST OF EUROPE VEGAN SUPPLEMENTS MARKET, 2021-2028 (IN $ MILLION)

FIGURE 31: ASIA-PACIFIC VEGAN SUPPLEMENTS MARKET, REGIONAL OUTLOOK, 2020 & 2028 (IN %)

FIGURE 32: CHINA VEGAN SUPPLEMENTS MARKET, 2021-2028 (IN $ MILLION)

FIGURE 33: JAPAN VEGAN SUPPLEMENTS MARKET, 2021-2028 (IN $ MILLION)

FIGURE 34: INDIA VEGAN SUPPLEMENTS MARKET, 2021-2028 (IN $ MILLION)

FIGURE 35: SOUTH KOREA VEGAN SUPPLEMENTS MARKET, 2021-2028 (IN $ MILLION)

FIGURE 36: INDONESIA VEGAN SUPPLEMENTS MARKET, 2021-2028 (IN $ MILLION)

FIGURE 37: THAILAND VEGAN SUPPLEMENTS MARKET, 2021-2028 (IN $ MILLION)

FIGURE 38: SINGAPORE VEGAN SUPPLEMENTS MARKET, 2021-2028 (IN $ MILLION)

FIGURE 39: AUSTRALIA & NEW ZEALAND VEGAN SUPPLEMENTS MARKET, 2021-2028 (IN $ MILLION)

FIGURE 40: REST OF ASIA-PACIFIC VEGAN SUPPLEMENTS MARKET, 2021-2028 (IN $ MILLION)

FIGURE 41: REST OF WORLD VEGAN SUPPLEMENTS MARKET, REGIONAL OUTLOOK, 2020 & 2028 (IN %)

FIGURE 42: LATIN AMERICA VEGAN SUPPLEMENTS MARKET, 2021-2028 (IN $ MILLION)

FIGURE 43: MIDDLE EAST & AFRICA VEGAN SUPPLEMENTS MARKET, 2021-2028 (IN $ MILLION)

  1. MARKET BY PRODUCT
    • PROTEIN
    • VITAMINS
    • MINERALS
    • OTHER PRODUCTS
  2. MARKET BY DISTRIBUTION CHANNEL
    • PHARMACY
    • SPECIALTY STORES
    • HYPERMARKET
    • ONLINE STORES
  3. MARKET BY FORM
    • CAPSULES & TABLETS FORM
    • POWDER FORM
    • OTHER FORMS
  4. 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

 

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