Market Size of North America Vegan Supplements Industry
| 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 |
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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.
