Global Vegan Supplements Market Forecast, Trend Analysis And Competition Tracking - Market Insights: 2015 – 2031

Global Vegan Supplements Market Overview

The global Vegan Supplements market was valued at US$ 6,744.4 million in 2020, and is projected to grow at a CAGR of 6.9%.

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A vegan diet is made from fresh vegetables, grains, beans and fruits. It excludes all animal products including dairy, eggs and meat. This can result in a vitamin deficiency if certain vitamins are not consumed daily. These deficiencies can lead to achy muscles, constipation and a scaly skin condition called dermatitis herpetiformis. Fortunately, there are some vegan supplements for vitamins A, B-12, D3 and C available.

Today, we live in a world that is more aware of the environment and the impact that we have on it. More and more people are turning to veganism as a way to avoid harming animals and living a cruelty-free lifestyle. As you might expect, being vegan does come with some nutritional concerns from time to time.

The popularity of veganism has expanded over the last decade, with more people choosing to follow a vegan lifestyle. Many people choose to go vegan for ethical reasons, but for others it is the environmental benefits that draw them in. Vegans (those who don't eat any animal products) are often lacking certain nutrients because many of their favorite foods like meat and dairy need supplementation.

Many people who are interested in becoming vegan or embracing a plant-based diet may wonder what supplements they should take to ensure that they receive all of their daily vitamins and minerals. In this article, we will discuss the most common vegan supplements that vegans need to be aware of.

For many, the vegan diet is strict and leaves many nutrients unmet. For these vegans, supplements can make up for the lack of vitamins found in plants. These vegan supplements are easy to find and inexpensive, meaning that for most people it will be worth it to try them out.

The global Vegan Supplements market is segregated into product types, forms, distribution channels, and regions. On the basis of product type, the global Vegan Supplements market is sub-segmented into minerals, vitamins, protein, and other product types. With respect to form, the global Vegan Supplements market is distributed into capsules/tablets, powder, and other forms. On the basis of distribution channel, the global Vegan Supplements market is sub-segmented into hypermarket/supermarket, specialty stores, pharmacies/drug stores, online retail, and other distribution channels. On the basis of region, the global Vegan Supplements market is sub-segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

Consumers Are Adopting Healthy Lifestyle

The increase in interest in veganism and other healthy lifestyles has caused the demand for vegan supplements to grow. With more people opting for a plant-based diet, there is an influx of vegetarians and vegans looking for better nutrition. One such supplement that has seen a recent surge in popularity is vegan protein powder, which offers an alternative to soy, whey, and casein powders that are traditionally used by vegetarians.

Preventive healthcare that provide health advantages and nutrition, is becoming more popular among consumers

It is important to note that preventive healthcare is not limited to diet and exercise, but also includes medical services like vaccines, nutritional supplements, and medications. There are many food-based health products available on the market today. One such example of this is fortified foods and beverages that provide health advantages and nutritional benefits. The consumption of these vegan supplements is resulting in the vegan supplements market trends.

Vegan Supplements Are Becoming More Well Known For Their Health Benefits

The vegan diet is a diet that excludes all animal products. Despite the lack of dairy and meat, there are plenty of vegan supplements that offer the same benefits as their meat-based counterparts. In addition to being a more humane diet, some believe that veganism has health benefits. It is thought that following a vegan diet can lead to weight loss, lower cholesterol levels, and improved heart health due to a higher concentration of antioxidants in plant foods.

The Increasing Awareness About Side Effects Of Vegan Supplements

The awareness concerning side effects of vegan supplements has hampered the vegan supplement market. Increasingly, consumers are aware that many vegan supplements contain beef and animal by-products. These side effects have deterred customers from purchasing these products which in turn has caused a decline in the market. This awareness can be seen as a trend for future customers to avoid such products altogether, thus halting the growth of this market altogether.

Stringent Government Regulations

The surge of the vegan diet has led to stringent Government Regulations that have caused the vegan supplement market forecast to decrease. The vegan diet is a type of vegetarian diet characterized by the avoidance of use of all animal products, including dairy and eggs. This dietary pattern has led to increased meat production, which has led to environmental concerns around land usage and pollution. However, the environmental concerns are still outweighed by health benefits.

Impact of COVID-19 on Vegan Supplements Industry

The COVID-19 outbreak has freaked out people's lives all over the world. The effects of the coronavirus outbreak have different applications all depending on the industry. The growth switch is toggled in every industry on account of the coronavirus. In the wake of the worldwide outbreak of COVID-19, many countries have been required to lockdown. This has elevated the requirement for vegan supplements and helped to bring about a growth in the vegan supplements market. Nowadays, people are becoming more aware the health benefits of vegan supplement products. In addition, due to the COVID-19 crisis, numerous supplement manufacturers were compelled to increase production to meet the demands of clients. The enhanced demand for vegan supplements due to the global COVID-19 crisis in 2020 has had a positive impact on [the growing vegan supplement company]'s production and sales.

Asia Pacific is expected to dominate the global market over the forecast period

The global Vegan Supplements market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

Markets in the Asia Pacific region are projected to account for the largest share over the next decade owing to the presence of countries such as India, China, etc., the increase in adoption of western lifestyle, the rise in population, and the surge in disposable income of consumers.

Some of the major players of the global vegan supplements market include

• Jarrow Formulas
• Solgar Inc.
• Deva Nutrition LLC
• Natrol
• Eversea
• Nutrazee Inc.
• NOW Foods
• Garden of Life LLC
• Pure Encapsulations
• HTC Health
• Ora Organic
• Other Key Players

Report Scope

• Forecast Period: 2022-2031
• Actual Year: 2021
• Historical Data Available for: 2015-2020