Vegan Supplements Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 9.30 Billion |
| Market Size (2029) | USD 16.20 Billion |
| CAGR (2024 - 2029) | 9.68 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Vegan Supplements Market Analysis
The Vegan Supplements Market size is estimated at USD 9.30 billion in 2024, and is expected to reach USD 16.20 billion by 2029, at a CAGR of 9.68% during the forecast period (2024-2029).
Concerns for animal welfare, environmental sustainability, and personal health are driving a growing shift towards plant-based and vegan diets. As vegetarian and vegan lifestyles gain traction, the demand for vegan-friendly supplements is surging. During the COVID-19 pandemic, the vegan community notably increased its consumption of vegan supplements, recognizing their health benefits, such as enhanced immune function. Moreover, with a heightened focus on health and dietary habits during the pandemic, the adoption of vegan supplements surged, propelling market growth. As per the World Animal Foundation's, there were more than 13.4 million, (4%) vegans in the United States in 2022
With the global rise in veganism, which eschews all animal products from meat to dairy, there's been a notable uptick in the demand for plant-based alternatives, especially supplements. For instance, 2023 data highlighted around 79 million global vegans, with nearly 707 thousand participants in "Veganuary," a campaign spearheaded by a British non-profit. This surge in veganism has, in turn, amplified the global demand for plant-based supplements. Key drivers of this market growth include the rising prevalence of lifestyle diseases, an aging population, and heightened consumer awareness of product benefits. Furthermore, ongoing product innovations and the widespread availability of vegan supplements, both online and offline, bolster this market expansion. A case in point: In May 2024, Doctor's Best Inc. unveiled a new algae-derived, high-potency EPA and DHA Omega-3 vegan supplement. This innovative formula, derived from phytoplankton, offers a sustainable and clean alternative to traditional fish oil, supporting eye, brain, and heart health.
Vegan Supplements Market Trends
Plant-based protein supplements are gaining popularity
Driven by a global pivot towards healthier eating, plant-based protein supplements are outpacing traditional animal-derived options in popularity. Rich in essential nutrients such as fiber, antioxidants, vitamins, and minerals, plant proteins confer numerous health advantages. These benefits range from a reduced risk of chronic diseases and improved digestive health to a diminished likelihood of foodborne illnesses. Furthermore, plant proteins are characterized by their lower saturated fat and cholesterol content. In contrast, overindulgence in animal-derived proteins, supplements included, has been associated with serious health concerns like cancer, heart disease, and obesity, intensifying the allure of plant-based options. This trend is further magnified by the global uptick in veganism. For instance, in 2024, the UK reports around 2.5 million vegans, making up 4.7% of its adult population.
As consumers become more health-conscious, there's a notable surge in the demand for clean-label products, especially plant-based protein supplements. Today's consumers are not just buying products; they're delving into labels, seeking transparency in sourcing. This scrutiny aligns seamlessly with plant-based protein supplements derived from natural sources like peas, soy, and hemp. Acknowledging this trend, manufacturers are shifting towards clearer and more transparent labeling. For example, Possible has rolled out a new line of clean-label products, including their plant protein powder, with certifications like USDA organic, vegan, non-GMO, gluten-free, and devoid of artificial additives.
Asia-Pacific is the Fastest Growing Region
The mainstream rise of flexitarian consumers, coupled with a growing number of vegetarians and vegans, has propelled the growth of the plant-based sector. This shift is largely attributed to heightened health, ethical, and environmental concerns among consumers. A 2022 report by the UN FAO highlighted India's dominance in vegan diet consumption, boasting over 500 million vegetarians. Furthermore, flexitarian consumers play a pivotal role in driving the plant-based market's expansion.
In recent years, a surge in interest in sports and fitness has spurred demand for vegan supplements. This trend has prompted manufacturers to innovate and introduce new products. For example, United, an Indian company specializing in vegan supplements and sports nutrition, offers a range of products, from sublingual caffeine strips to beetroot extract, targeting endurance athletes. Concurrently, urbanization and rising disposable incomes in the Asia-Pacific have fostered a shift towards healthier lifestyles, amplifying the appeal of vegan supplements. Given the rising popularity of multivitamins among adults, the introduction of vegan multivitamins in the region is poised to further boost market growth during the forecast period.
Vegan Supplements Industry Overview
The global vegan supplements market is characterized by intense competition, driven by both international and regional players. Key players include Holland & Barrett, Sylphar N.V. (Nutravita Limited), Swisse Wellness PTY LTD, Garden of Life, Vital Nutrients, and Now Health Group, Inc. These companies are prioritizing product innovations and pursuing mergers & acquisitions to bolster their presence and expand their global market share. For example, in August 2023, Herbalife unveiled a new line of plant-based supplements. These products boast certifications such as USDA Organic, non-GMO verification, kosher certification, and vegan status by FoodChain ID. The lineup features five distinct offerings: protein shakes delivering 20 g of protein sourced from pea, pumpkin seeds, and chia; a greens booster crafted from organic fruits, vegetables, superfood powders, and green tea; an immune-support formula enriched with vitamins C, D, and zinc; and a digestive-support blend highlighting oat and guar fiber.
Vegan Supplements Market Leaders
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Holland & Barrett, Inc.
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Sylphar N.V.(Nutravita Limited)
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Swisse Wellness PTY LTD
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Garden of Life
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Now Health Group, Inc.
*Disclaimer: Major Players sorted in no particular order
Vegan Supplements Market News
- July 2024: Zoe launched a whole plant-based food supplement called Daily 30+. The supplements are made with a blend of over 30 selected plants
- February 2024: Herbalife, launched a new Herbalife GLP-1 Nutrition Companion, a new range of food and supplement product combos to support the nutritional needs of individuals on GLP-1 and other weight-loss medications. Herbalife’s classic and vegan options are now available in the United States and Puerto Rico in various flavors.
- August 2023: PB2 launched two new plant-based protein bars with 13-15 g of protein per serving and powered by peanut and almond powders. The protein bars are made with 100% gluten-free, vegan, kosher, and non-GMO ingredients
- March 2023: Mega Food launched Omega 3-6-9, a supplement that contains plant-based fatty acids and 600 mg of omega-3s for heart, brain, eye, and joint health. The supplement features Ahiflower, a plant-based source of omega-3 and omega-6 fatty acids including SDA, ALA, and GLA, with 600 mg of omega-3s sourced from algal oil
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
4.1.1 Rising concerns over animal welfare and environmental impact.
4.1.2 Growing prevalence of lactose intolerance and allergies to animal-based products.
4.2 Market Restraints
4.2.1 Higher cost of production for vegan supplements compared to traditional ones.
4.3 Porter's Five Force 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 By Product Type
5.1.1 Vitamins
5.1.2 Minerals
5.1.3 Protein
5.1.4 Omega Supplement
5.1.5 Other Vegan Supplements
5.2 By Form
5.2.1 Powder
5.2.2 Capsules
5.2.3 Others
5.3 By Distribution Channel
5.3.1 Supermarkets/Hypermarkets
5.3.2 Pharmacies & Drug Stores
5.3.3 Online Retail Stores
5.3.4 Other Distribution Channel
5.4 By Geography
5.4.1 North America
5.4.1.1 United States
5.4.1.2 Canada
5.4.1.3 Mexico
5.4.1.4 Rest of North America
5.4.2 Europe
5.4.2.1 United Kingdom
5.4.2.2 Germany
5.4.2.3 Spain
5.4.2.4 France
5.4.2.5 Italy
5.4.2.6 Russia
5.4.2.7 Rest of Europe
5.4.3 Asia-Pacific
5.4.3.1 China
5.4.3.2 Japan
5.4.3.3 India
5.4.3.4 Australia
5.4.3.5 Rest of Asia-Pacific
5.4.4 South America
5.4.4.1 Brazil
5.4.4.2 Argentina
5.4.4.3 Rest of South America
5.4.5 Middle East & Africa
5.4.5.1 Saudi Arabia
5.4.5.2 South Africa
5.4.5.3 Rest of Middle East & Africa
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 Holland & Barrett
6.3.2 Sylphar N.V. (Nutravita)
6.3.3 Swisse Wellness PTY LTD
6.3.4 Garden of Life
6.3.5 Now Health Group, Inc.
6.3.6 Herba Life Nutritions
6.3.7 Vital Nutrients
6.3.8 Vanatari International GmbH
6.3.9 Biosteel Sports Nutrition
6.3.10 Ora Organic
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. IMPACT OF COVID-19 ON THE MARKET
9. DISCLAIMER
Vegan Supplements Industry Segmentation
Vegan Supplements are plant-sourced supplements that are consumed to reach the required dietary allowance. The global vegan supplements market (henceforth referred to as the market studied) is segmented by product type, form, distribution channel, and geography. 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 studied is segmented into Supermarkets/Hypermarkets, Pharmacies & Drug Stores, Online Retail Stores, and Other Distribution channels. It provides an analysis of emerging and established economies across the world, comprising North America, Europe, South America, Asia-Pacific, the Middle East, and Africa. For each segment, the market sizing and forecasts have been done on the basis of value (in USD billion).
| By Product Type | |
| Vitamins | |
| Minerals | |
| Protein | |
| Omega Supplement | |
| Other Vegan Supplements |
| By Form | |
| Powder | |
| Capsules | |
| Others |
| By Distribution Channel | |
| Supermarkets/Hypermarkets | |
| Pharmacies & Drug Stores | |
| Online Retail Stores | |
| Other Distribution Channel |
| By Geography | |||||||||
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Vegan Supplements Market Research Faqs
How big is the Vegan Supplements Market?
The Vegan Supplements Market size is expected to reach USD 9.30 billion in 2024 and grow at a CAGR of 9.68% to reach USD 16.20 billion by 2029.
What is the current Vegan Supplements Market size?
In 2024, the Vegan Supplements Market size is expected to reach USD 9.30 billion.
Who are the key players in Vegan Supplements Market?
Holland & Barrett, Inc., Sylphar N.V.(Nutravita Limited), Swisse Wellness PTY LTD, Garden of Life and Now Health Group, Inc. are the major companies operating in the Vegan Supplements Market.
Which is the fastest growing region in Vegan Supplements Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Vegan Supplements Market?
In 2024, the North America accounts for the largest market share in Vegan Supplements Market.
What years does this Vegan Supplements Market cover, and what was the market size in 2023?
In 2023, the Vegan Supplements Market size was estimated at USD 8.40 billion. The report covers the Vegan Supplements Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Vegan Supplements Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Vegan Supplements Industry Report
Statistics for the 2024 Vegan Supplements market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Vegan Supplements analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
Vegan Supplements Market Report Snapshots
