The Vegan Supplements Global Market Report 2023, provides comprehensive information on the vegan supplements market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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The global vegan supplements market size is expected to grow from $8.87 billion in 2022 to $9.66 billion in 2023 at a compound annual growth rate (CAGR) of 8.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global vegan supplements market size is expected to reach $13.49 billion in 2027 at a CAGR of 8.7%.
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Product innovation is the key trend gaining popularity in the vegan supplement market. Major businesses operating in the vegan supplement market are focused on developing innovative products to strengthen their position in the market. For instance, in August 2022, Vital Nutrients, a US-based company that develops and markets nutraceuticals, launched Ultra Pure Vegan Omega SPM+. Ultra Pure Vegan Omega SPM+ is a revolutionary vegan algae omega composition in a 40% smaller pill than standard fish oils for better patient adherence. The initial and exclusive plant-based composition of omega-3 fatty acids with therapeutically significant quantities of active SPMs may aid in treating inflammatory conditions up to five times more efficiently than omega-3s alone. The supplement also includes 390 mg of DHA, which helps maintain good immune system reactions and heart health. It also promotes healthy cognitive performance and nervous system function.
The vegan supplements market is segmented:
1) By Product Type: Minerals, Vitamins, Protein, Other Products
2) By Form: Powder, Liquid, Capsules, Bars, Other Forms
3) By Distribution Channel: Hypermarket Or Supermarkets, Convenience Stores, Drug Stores And Pharmacies, Health And Wellness Stores, Online Retailing, Other Distribution Channels
North America was the largest region in the vegan supplements market in 2022.
The table of contents in TBRC’s vegan supplements market report includes:
- Executive Summary
- Vegan Supplements Market Characteristics
- Vegan Supplements Market Trends And Strategies
- Vegan Supplements Market – Macro Economic Scenario
- Vegan Supplements Market Size And Growth
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- Africa Vegan Supplements Market
- Vegan Supplements Market Competitive Landscape And Company Profiles
- Key Mergers And Acquisitions In The Vegan Supplements Market
- Vegan Supplements Market Future Outlook and Potential Analysis
- Appendix
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