Market Trends of Europe Vegan Supplements Industry
This section covers the major market trends shaping the Europe Vegan Supplements Market according to our research experts:
Increasing Preference for Vegan Vitamin Supplements
The preventive healthcare practices that are in vogue nowadays, coupled with multivitamins deficiency that is commonly observed owing to inadequate intake, supported by demand for plant-based supplements due to vegan factor is driving the demand for vegan vitamin supplements.Both manufacturers and retailers are beginning to offer free access to 'wellness tools' that create a customized vitamin list based on a consumer's specific conditions and need. Regular usage of vitamins seems to increase with increasing geriatric population, and women tend to take more supplements than men. Vegan vitamins represent a steadily growing segment driven by, growing discretionary spending, and consumers emphasis on improving their quality of life. Moreover, consumers are shifting their preferences for plant based or herbal supplements with growing vegan trend across the regions. Such factors raise the demand for vitamins segment in the region.
United Kingdom Holds a Significant Share in the Market
The growth in the plant-based sector has largely been driven by the mainstream emergence of the flexitarian consumer, as well as increased numbers of vegetarians and vegans, as consumers respond to a combination of ethical, environmental and health concerns in the country.In recent years the number of vegetarians and vegans has increased, for example, the Vegan Society estimated that the number of vegans in the UK increased by a factor of 2.6 times in the ten years to 2016. However, the significant growth in the plant-based market is driven by the flexitarian consumer. Multivitamin supplements are gaining popularity among all adult consumers, thus launch of vegan multivitamins in the country is edxpected to propel the growth of the market during the foreacast period.
