Vegan Supplements Market worth USD 14,635.5 million by 2030

The Market Statsville Group (MSG) publishes the new report on the "Vegan Supplements Market by Product Type (Minerals, Vitamins, Protein, and Others), by Form (Capsules/Tablets, Powder, and Others), by Distribution Channel (Hypermarket/Supermarket, Specialty Stores, Pharmacies/Drug Stores, and Online Sales Channel), by Region – Global Share and Forecast to 2030". The global vegan supplements market size is expected to grow from USD 88,582.0 million in 2021 to USD 14,635.5 million by 2030, at a CAGR of 6.9% during the forecast period. Vegan supplements products help improve the athletes' endurance owing to which many sportspeople consume them. Various high profile athletes, such as former world heavyweight champion boxer David Haye and ladies tennis champion Venus Williams have started adopting vegan supplements recently. Moreover, many athletes and bodybuilders are switching to a vegan supplements diet as it is more effective for enhancing fitness. Coaches, athletes, fitness enthusiasts, and trainers focus on meeting nutritional needs as nutrition helps with training and recovery. Thus, this factor helps boost the growth of the vegan supplements market.

Global Vegan Supplements Market Segmentation

The vegan supplements market has been segmented into product type, form, distribution channel, and region.

• By Product Type (Minerals, Vitamins, Protein, and Others)
• By Form (Capsules/Tablets, Powder, and Others)
• By Distribution Channel (Hypermarket/Supermarket, Specialty Stores, Pharmacies/Drug Stores, and Online Sales Channel)
• By Region (US, Canada, Mexico, UK, Germany, France, Italy, Spain, China, Japan, India, South Korea, Southeast Asia, Australia, Saudi Arabia, UAE, South Africa, Qatar, Nigeria, Israel, Brazil, Argentina, Peru)

Powder segment, by form, is estimated to hold the largest market share during the forecast period

The vegan supplements market is segmented into capsules/tablets, powder, and others by form. The powder segment led in terms of the market size in 2021 and is expected to continue to grow with the highest CAGR during the forecast period. Vegan supplements in powder form are widely available in various convenient packages, including jars, packets, and bottles. Furthermore, these powder form vegan supplements are 100% vegan, gluten-free, dairy-free, soy-free, non-GMO, and others, making the supplements suitable for people following a specific diet. This vegan supplement powder is preferred as a meal replacement or smoothie booster.

There has been an increase in vegan supplements powder among consumers across the globe in the past few years. Powders are highly soluble, easier to handle, less bulky, and less prone to spoilage in long-term storage. Thus, vegan supplement manufacturers are strategizing on extending production in powder form. Moreover, this powder is highly nutritious and free of artificial colors, flavors, and sweeteners. In addition, vegan supplement powder is available in various flavors such as vanilla, chocolate, berry, and others which further boosts the market's growth. Furthermore, the rise in awareness regarding vegan supplement powder by using social media platforms such as YouTube, Instagram, Facebook, and others further drives the growth of the vegan supplement market.

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North America accounts for the largest market share in vegan supplements market 2021

Based on the regions, the global vegan supplements market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. In 2021, North America accounted for the highest market share of 43.9% in the global vegan supplements market and was anticipated to maintain its dominance throughout the forecast period. The North American vegan supplements market is studied across the U.S., Canada, and Mexico. In terms of macro-economic factors, the U.S. is the largest economy globally in terms of GDP, with a greater degree of flexibility than Western Europe's business.

Rise in population and improved lifestyle are the key factors that drive the growth of the vegan supplements market. An increase in purchasing power in this region majorly boosts the sale of vegan supplement products. Moreover, vegan supplement products have become increasingly popular in this region due to the associated benefits. This in turn boosts the growth of the vegan supplements market in North America.

This research report includes a study on the development and marketing strategies, along with a study on the product portfolios and winning strategies of the leading companies operating in the vegan supplements market. It also consists of the profiles of leading companies such as Jarrow Formulas, Inc., Aloha, PLC, Bhu Foods, Danone S.A., Kikkoman Corporation, Nestle S.A., Kerry Group, Nutrazee, NuGo Nutrition, and PepsiCo, Inc. These market players have focused on acquisitions and expansion to gain a larger market share in the vegan supplements market.

Browse complete report: https://www.marketstatsville.com/vegan-supplements-market

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