A recent report published by Infinium Global Research on the vegan supplement market provides an in-depth analysis of segments and sub-segments in the global as well as regional vegan supplement market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional vegan supplement market over the short term as well as the long term. The report is a comprehensive presentation of trends, forecasts, and dollar values of the global vegan supplement market. According to the report, the global vegan supplement market is projected to grow at a significant CAGR over the forecast period of 2022-2028.
The avoidance of all products which are derived from animal products has become an increasing trend in modern lifestyle. With the consumers radically shifting perception of healthy nutritional needed eating, they are now aiming to meet the nutritional needs to stay healthy and have a happy lifestyle. Vegan supplements primarily contain iron, vitamin D, and omega-3 fatty acids, calcium. They come in the form of bars, powders, and capsules. There has been an increase in the usage of vegan supplement powder among consumers worldwide.
Rising awareness about healthy eating among consumers is expected as the market for vegan supplements grows. Increasing demand for nutritious and organic substitutes for animal-based products continues to drive the vegan supplement market. More and more athletes, actors, and actresses have adopted and promoted vegan diets, and should also expand the market for vegan supplements. Rising plant-based nutrition among consumer interest is expected to drive the global vegan market. Due to a lack of awareness in developing countries, this factor might be a growth restraint of the global vegan supplement market. Rising concern about animal-based products and enriching preferences for meat alternatives is the rising opportunity for this market.
Among the geographies, the North American region is expected to hold a considerable share of dietary supplements. Europe holds a significant market share in the word market vegan supplements market. This is due to rising consumer awareness about proper weight management, calorie reduction, and muscle strength improvement is expected to increase demand for vegan supplements. North America is the second largest market for vegan supplements. The Asia Pacific region is expected to witness high growth in the elderly population and rising disposable income leads to increase demand for vegan supplements. The rise in the incidence of diseases such as diabetes, blood pressure, and cancer promotes veganism and it leads to a boost in the vegan supplement market. Also, demand for a healthy product is expected to be the main element driving the market in this region. India is expected to see significant progress in this category due to the large vegetarian population and people moving towards veganism.
The report on the global vegan supplement market covers segments such as form, ingredients, flavor, and distribution channel. On the basis of form, the sub-markets include liquid, capsule, bars, powder, and others. On the basis of ingredients, the sub-markets include vitamins, minerals, amino acids, botanical supplements, and others. On the basis of flavor, the sub-markets include vanilla, chocolate, unflavored, and other. On the basis of distribution channel, the sub-markets include supermarkets, drug stores, specialty stores, online retailing, and other.
The report provides profiles of the companies in the market such as Jarrow Formulas, Inc, Solgar Inc., Deva Nutrition LLC, Natrol, LLC., HTC Health, Ora organic, Kerry Group plc, Now Foods, MusclePharm., and Vitacost.com, Inc..
The report provides deep insights into demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the vegan supplement market. Moreover, the study highlights current market trends and provides forecasts from 2022-2028. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings insight into the market share of the leading players.
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