The global vegan supplements market size was US$ 8,585.0 million in 2021. The global vegan supplements market size is forecast to reach US$ 14,639.5 million by 2030, growing at a compound annual growth rate (CAGR) of 6.8% during the forecast period from 2022 to 2030.

Veganism is a strict vegetarian diet that excludes all animal products in any form, including milk, eggs, and meat. Vegan supplements are nutritional supplements that include vitamins, minerals, amino acids, proteins, and blends that enhance general health. They improve biological functioning by supplementing the nourishment obtained from a regular diet.

Factors Influencing Market Growth

• The surge in preference toward animal preservation and safety and the rising adoption of veganism are forecast to drive the global vegan supplements market during the forecast period.
• The global market for vegan supplements is growing due to the increasing consumer awareness about the health benefits associated with vegan supplements, including benefits against chronic diseases to promote optimal health, longevity, and quality of life.
• The rising consumption of vegan supplements has increased the influx of fake and counterfeit supplements. Thus, the expansion of the counterfeited products may have a negative impact on the sale of the existing original vegan supplement brands in the market. Therefore, affecting the overall market growth.

Impact Analysis of COVID-19

During the COVID-19 pandemic, the vegan supplement industry has benefited from consumers who want to lead healthier lifestyles and improve their dietary habits. Vegan supplements, according to consumers, increase immunity and aid in the battle against coronavirus sickness. Vegan supplements became more popular as a result of this. Furthermore, the surge in internet penetration has resulted in an increase in the number of social media users. The majority of the market's major companies focused their marketing efforts on social media platforms such as Instagram, Facebook, YouTube, etc. During the COVID-19 pandemic, several companies and sectors utilized social media marketing as a key vegan supplement trend to raise awareness about their product offer among target clients on social media platforms. Thus, the COVID-19 pandemic had a positive impact on the global market.

Regional Insights

The Asia Pacific region is forecast to have lucrative growth in the vegan supplements market during the forecast period. As a result of the rising demand for vegan supplements in the last 2-3 years. Due to the growing people's interest in sports and fitness. In addition, rising awareness and health considerations among consumers are forecast to fuel the market growth in the region.

Leading Competitors

The leading prominent companies profiled in the global vegan supplements market are:

• BHU Foods
• Danone S.A.
• Jarrow Formulas, Incorporated
• Aloha, PLC
• Kikkoman Corporation
• NuGo Nutrition
• Nestle S.A.
• Kerry Group
• Nutrazee,
• PepsiCo, Incorporated
• Other Prominent Players

Scope of the Report

The global vegan supplements market segmentation focuses on Product Type, Form, Distribution Channel, and Region.

Segmentation based on Product Type

• Minerals
• Vitamins
• Protein
• Others

Segmentation based on Form

• Capsules/Tablets
• Powder
• Others

Segmentation based on Distribution Channel

• Hypermarket/Supermarket
• Specialty Stores
• Pharmacies/Drug Stores
• Online Sales Channel

Segmentation based on Region

• North America
• The U.S.
• Canada
• Mexico
• Europe
• Western Europe
• The UK
• Germany
• France
• Italy
• Spain
• Rest of Western Europe
• Eastern Europe
• Poland
• Russia
• Rest of Eastern Europe
• Asia Pacific
• China
• India
• Japan
• Australia & New Zealand
• ASEAN
• Rest of Asia Pacific
• Middle East & Africa (MEA)
• UAE
• Saudi Arabia
• South Africa
• Rest of MEA
• South America
• Brazil
• Argentina
• Rest of South America