Global Vegan Supplements Market

The global vegan supplements business is gaining momentum, primarily owing to increased demand for plant-based proteins and minerals from consumers. Consumers are increasingly shifting toward vegetarian or vegan diets, owing to various factors, including animal welfare concerns, health benefits and environmental sustainability. These factors are propelling the demand for vegan-based dietary supplements, which have been proven to be safer and healthier than their animal-based counterparts. Additionally, rising demand for a healthy and balanced diet is also expected to drive the growth of the market.

Aside from the growing number of vegans and flexitarians, the popularity of sports nutrition has created new opportunities for supplement manufacturers. As athletes seek to increase their strength and performance, they are focusing on adding protein-rich ingredients into their diets. This has helped fuel the market for vegan-based supplements, which are popular among flexitarians and traditional vegans alike.

Sales of vegan supplements through online channels have picked up since the beginning of COVID-19, while brick-and-mortar outlets have witnessed a moderate drop. However, sales of OTC offerings are expected to witness a surge with higher levels of health consciousness driving the demand for immunity-boosting products.

Many established industry players have started to adopt marketing strategies aimed at both protecting their market share and expanding it. For instance, UK-based ethical nutrition and supplement brand Dr. Vegan has teamed up with Deliveroo to promote its product range and reach. This is a move that is designed to target a wider audience and boost the company’s presence in the vegan supplement market.

Another key driver for the vegan supplements business is the shift toward clean label ingredients. The demand for clean-label products has been driven by increased awareness of consumers about the effects of synthetic ingredients on their health and well-being. Many of the leading players are now focused on integrating clean label ingredients into their products. For example, this September marked one year since the launch of the Clean Label Alliance, a consortium of companies—including RIBUS, Lonza, BioGrund, Capsugel and Bosch—dedicated to developing clean-label vegan dietary supplements from formulation through production.

The global vegan supplements business is highly competitive in nature, owing to the presence of large and small players. Various established players are leveraging their strengths and expertise in the field of research, development, branding, packaging, manufacturing, distribution and logistics to strengthen their presence in the market. Additionally, these companies are focusing on mergers and acquisitions to enhance their product portfolios and geographical presence.

The report provides an in-depth analysis of the global vegan supplements business, with detailed segmentation by product type, form, and distribution channel. In addition, the report provides market forecasts for the period 2022-2028. The report also analyzes market trends and identifies the growth drivers, challenges, and opportunities for the market. It also includes an in-depth market overview, as well as a SWOT analysis of the key players in the global vegan supplements business. The global market for vegan supplements is projected to grow at a CAGR of 6.7% over the forecast period.