North America Vegan Supplements Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 6.50 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
North America Vegan Supplements Market Analysis
North America's vegan supplements market is projected to register a CAGR of 6.5% over the next five years.
Consumers in the region are becoming more conscious of their health and diet. The demand for vegan food supplements is increasing in the region owing to their benefits and nutritional composition. Vegan supplements are made from different vitamins, minerals, long-chain fatty acids, and other ingredients made from plant-based sources. Vegan and vegetarian consumers often become deficient in essential vitamins and minerals; therefore, vegan supplements are used by them. The market players are launching new products in the market because of increasing consumer demand. For instance, in November 2022, Cymbiotica launched a new plant-based supplement called Creatine+ in Canada. The health-conscious supplements include improving strength, increasing lean muscle mass, improving recovery time, increasing energy, improving stamina in high-intensity activities, boosting ATP, boosting brain function, and supporting overall gut health.
The health-conscious consumers in the region are becoming fitness conscious as well and are joining fitness centers and gyms due to increasing lifestyle diseases like obesity, diabetes, and hypertension. Pre- and post-workout consumers need supplements to regain the strength in their muscles and build strength for a long time. Market players are considering the demand for such supplements and launching new products in the market. For instance, in November 2022, Pangea Natural Foods Inc. launched a new single-serving vegan supplement. The supplement is used for pre-workout sessions. Over the medium term, the market is expected to grow in the region owing to the increasing vegan population and rising lifestyle diseases in the region.
North America Vegan Supplements Market Trends
This section covers the major market trends shaping the North America Vegan Supplements Market according to our research experts:
Rising Demand for Veganism in the Region
Vegan food is more popular among consumers due to its health benefits and nutritional quality over meat products. Demand for plant-based food is growing in the region because of its environmental, ethical, and dietary components. According to a Dalhousie University report from 2021, 40% of the Canadian population gave up on meat because there were better plant-based options. Furthermore, vegan supplements tend to provide more nutritional benefits and help in reducing chronic diseases like diabetes, cardiovascular diseases, obesity, and many more. Additionally, healthcare expenditure is increasing in the region owing to preventive health measures taken to avoid chronic diseases. Vegan supplements like omega-3 supplements, protein supplements, and vitamin supplements provide strength and build immunity. According to a recent report by the Canadian Institute for Health Information, the total amount spent on health care in Canada in 2022 is expected to reach USD 246.86 billion. Due to this, the demand for vegan supplements is increasing in the region.
United States Holds Major Share in the Market
Consumers in the United States are becoming more conscious of their health and well-being. Due to the increasing number of chronic diseases among consumers and nutritional deficiency, the country's demand for dietary supplements is growing. Additionally, several people are shifting their diets to a vegan one due to environmental and religious beliefs. According to the study on vegetarianism in America published by Vegetarian Times Magazine in 2021, the vegan population in the United States is increasing rapidly, with a record of 9.7 million people in the region following the vegetarian-based diet. Global and regional market participants have been introducing and innovating new vegan supplements that are more beneficial to consumers. Therefore, consumer preference for vegan supplements is growing in the country.
North America Vegan Supplements Industry Overview
The North American vegan supplement market is competitive by nature, with a large number of domestic and multinational players competing for market share. Emphasis is given to the merger, expansion, acquisition, and partnership of the companies, along with new product development, as strategic approaches adopted by the leading companies to boost their brand presence among consumers. Key players dominating the regional market include Nestlé S.A., NOW Health Group, Inc., Country Life, LLC, Ora Organic, and Future Kind.
North America Vegan Supplements Market Leaders
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Nestlé S.A.
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NOW Health Group, Inc.
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Country Life, LLC
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Ora Organic
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Future Kind
*Disclaimer: Major Players sorted in no particular order
North America Vegan Supplements Market News
- August 2022: BrainMD Health, a leader in premium-quality, science-based nutraceuticals, launched an EPA/DHA vegan omega-3 supplement. The product was made using sustainable and certified marine algae.
- April 2022: Blueroot Health brand Vital Nutrients launched Ultra Pure Vegan Omega SPM+, a vegan supplement made from algae. The company claims that this supplement can be a good alternative to fish oil omega-3 supplements.
- September 2021: Life Extension launched a new plant-based multivitamin. The company claims that the multivitamin is derived from sustainable sources and is equivalent to three servings of vegetables and two servings of fruits.
North America Vegan Supplements Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Type
5.1.1 Protein
5.1.2 Vitamins
5.1.3 Omega Supplements
5.1.4 Other Vegan Supplements
5.2 Distribution Channel
5.2.1 Pharmacies & Drug Stores
5.2.2 Supermarkets & Hypermarkets
5.2.3 Online Channels
5.2.4 Others
5.2.5 Convenience Food
5.2.6 Other Distribution Channels
5.3 Country
5.3.1 United States
5.3.2 Mexico
5.3.3 Canada
5.3.4 Rest of North America
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 Country Life, LLC
6.3.2 Wonder Laboratories
6.3.3 Nestlé S.A.
6.3.4 NOW Health Group, Inc.
6.3.5 Canopy Growth Corporation (Biosteel Sports Nutrition Inc.)
6.3.6 Future Kind
6.3.7 Ora Organic
6.3.8 FORGE Supplements
6.3.9 Life Extension
6.3.10 BrainMD Health
6.3.11 Blueroot Health
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
North America Vegan Supplements Industry Segmentation
Vegan supplements are plant-sourced supplements that are consumed to reach the required dietary allowance. The market is segmented by product type, distribution channel, and country. By product type, the market is segmented into vitamins, minerals, proteins, omega supplements, and other vegan supplements. Based on form, the market is segmented into powder, capsules, and others. Based on the distribution channel, the market is segmented into supermarkets and hypermarkets, pharmacies and drugstores, online retail stores, and other distribution channels. The market is segmented by country into the United States, Canada, Mexico, and the rest of North America. For each segment, the market sizing and forecasts have been done on the basis of value (in USD million).
| Type | |
| Protein | |
| Vitamins | |
| Omega Supplements | |
| Other Vegan Supplements |
| Distribution Channel | |
| Pharmacies & Drug Stores | |
| Supermarkets & Hypermarkets | |
| Online Channels | |
| Others | |
| Convenience Food | |
| Other Distribution Channels |
| Country | |
| United States | |
| Mexico | |
| Canada | |
| Rest of North America |
North America Vegan Supplements Market Research FAQs
What is the current North America Vegan Supplements Market size?
The North America Vegan Supplements Market is projected to register a CAGR of 6.5% during the forecast period (2024-2029)
Who are the key players in North America Vegan Supplements Market?
Nestlé S.A., NOW Health Group, Inc., Country Life, LLC, Ora Organic and Future Kind are the major companies operating in the North America Vegan Supplements Market.
What years does this North America Vegan Supplements Market cover?
The report covers the North America Vegan Supplements Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the North America Vegan Supplements Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Vegan Supplements in North America Industry Report
Statistics for the 2024 Vegan Supplements in North America market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Vegan Supplements in North America analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
