Market Trends of North America Vegan Supplements Industry
This section covers the major market trends shaping the North America Vegan Supplements Market according to our research experts:
Rising Demand for Veganism in the Region
Vegan food is more popular among consumers due to its health benefits and nutritional quality over meat products. Demand for plant-based food is growing in the region because of its environmental, ethical, and dietary components. According to a Dalhousie University report from 2021, 40% of the Canadian population gave up on meat because there were better plant-based options. Furthermore, vegan supplements tend to provide more nutritional benefits and help in reducing chronic diseases like diabetes, cardiovascular diseases, obesity, and many more. Additionally, healthcare expenditure is increasing in the region owing to preventive health measures taken to avoid chronic diseases. Vegan supplements like omega-3 supplements, protein supplements, and vitamin supplements provide strength and build immunity. According to a recent report by the Canadian Institute for Health Information, the total amount spent on health care in Canada in 2022 is expected to reach USD 246.86 billion. Due to this, the demand for vegan supplements is increasing in the region.
United States Holds Major Share in the Market
Consumers in the United States are becoming more conscious of their health and well-being. Due to the increasing number of chronic diseases among consumers and nutritional deficiency, the country's demand for dietary supplements is growing. Additionally, several people are shifting their diets to a vegan one due to environmental and religious beliefs. According to the study on vegetarianism in America published by Vegetarian Times Magazine in 2021, the vegan population in the United States is increasing rapidly, with a record of 9.7 million people in the region following the vegetarian-based diet. Global and regional market participants have been introducing and innovating new vegan supplements that are more beneficial to consumers. Therefore, consumer preference for vegan supplements is growing in the country.
