
North America Vegan Supplements Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
Description
North America Vegan Supplements Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
Country Life, LLC
Wonder Laboratories
Garden of Life
Solgar Inc.
NOW Health Group, Inc.
Biosteel Sports Nutrition Inc.
Future Kind
Ora Organic
FORGE Supplements
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North America's vegan supplements market is projected to grow at a CAGR of 6.5% during the forecast period.
Key Highlights- As a vegan diet is low in some nutrients, such as vitamin B-12, calcium, and iron, that are primarily present in animal products, supplements become an important part of their diet. In addition, dietary supplements are preferred by the paradigm shift toward preventive health management practices amid rising healthcare costs and the increasing burden of lifestyle diseases. Such factors are thus driving the demand for vegan supplements in the region.
- In the segmentation font by type, proteins, vitamins, and minerals based dietary supplements dominate the North American market because of their multiple applications such as nutritional supplements for patients suffering from heart diseases, orthopedic problems, for infants and child nutrition, and are an important part of sports nutrition.
- Approximately 4% of the millennials in North America are vegans. Also, according to a study consumers around the North American countries are highly inclining toward plant-based diets, with around 33% of Canadians having turned into flexitarians. And within Canada, British Columbia accounts for the largest number of vegan consumers, followed by Ontario, and Quebec.
- Though veganism is considered as one of the healthiest diets, the group of population is deficient in a few of the nutrients that are important in our body. This increases the need for vegan supplements to support the deficiencies that are commonly found among the vegans, thereby eventually resulting in propelling the growth of the vegan supplements market.
- By geography, the United States is expected to have the highest contribution in the North American market owing to the rising number of health-conscious consumers in the country. Rising consumer awareness regarding proper weight management, calorie reduction, and improvement of muscular strength is likely to boost the demand for nutrients such as vitamins, minerals, and enzymes in the country, over the years ahead.
- Nearly 10 percent of Americans have a nutritional deficiency, according to a report by the Centers for Disease Control and Prevention. In addition, food allergies have been on the rise, as 1 in 13 children are affected within the United States, and a 50% increase in allergies, such as lactose-intolerance from 1997-2017. Such factors have shifted the preference for vegan supplements among the Americans in the country.
The North America vegan supplements market is competitive in nature having a large number of domestic and multinational players competing for market share. Emphasis is given on the merger, expansion, acquisition, and partnership of the companies along with new product development as strategic approaches adopted by the leading companies to boost their brand presence among consumers. Key players dominating the regional market include Country Life, LLC, Wonder Laboratories, Garden of Life, Solgar Inc., and NOW Health Group, Inc.among others.
Additional Benefits:- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
Country Life, LLC
Wonder Laboratories
Garden of Life
Solgar Inc.
NOW Health Group, Inc.
Biosteel Sports Nutrition Inc.
Future Kind
Ora Organic
FORGE Supplements
Please note: This publisher does offer titles that are created upon receipt of order. If you are purchasing a PDF Email Delivery option above, the report will take approximately 2 business days to prepare and deliver.
Table of Contents
90 Pages
- 1 INTRODUCTION
- 1.1 Study Deliverables
- 1.2 Study Assumptions
- 1.3 Scope of the Study
- 2 RESEARCH METHODOLOGY
- 3 EXECUTIVE SUMMARY
- 4 MARKET DYNAMICS
- 4.1 Market Drivers
- 4.2 Market Restraints
- 4.3 Porter's Five Forces Analysis
- 4.3.1 Threat of New Entrants
- 4.3.2 Bargaining Power of Buyers/Consumers
- 4.3.3 Bargaining Power of Suppliers
- 4.3.4 Threat of Substitute Products
- 4.3.5 Intensity of Competitive Rivalry
- 5 MARKET SEGMENTATION
- 5.1 By Type
- 5.1.1 Protein
- 5.1.2 Vitamins
- 5.1.3 Omega Supplements
- 5.1.4 Other Vegan Supplements
- 5.2 By Distribution Channel
- 5.2.1 Pharmacies & Drug Stores
- 5.2.2 Supermarkets & Hypermarkets
- 5.2.3 Online Channels
- 5.2.4 Others
- 5.2.5 Convenience Food
- 5.2.6 Others
- 5.3 By Country
- 5.3.1 United States
- 5.3.2 Mexico
- 5.3.3 Canada
- 5.3.4 Rest of North America
- 6 COMPETITIVE LANDSCAPE
- 6.1 Most Active Companies
- 6.2 Most Adopted Strategies
- 6.3 Market Share Analysis
- 6.4 Company Profiles
- 6.4.1 Country Life, LLC
- 6.4.2 Wonder Laboratories
- 6.4.3 Garden of Life
- 6.4.4 Solgar Inc.
- 6.4.5 NOW Health Group, Inc.
- 6.4.6 Biosteel Sports Nutrition Inc.
- 6.4.7 Future Kind
- 6.4.8 Ora Organic
- 6.4.9 FORGE Supplements
- 7 MARKET OPPORTUNITIES AND FUTURE TRENDS
Pricing
Currency Rates
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