Allied Market Research has published a new report that concludes that the global vegan supplements market size was valued at $6,309.1 million in 2019, and is projected to reach $13,598.7 million by 2028, registering a CAGR of 6.9% from 2021 to 2028. Allied Market Research is a global market research and business consulting wing of Allied Analytics LLP based in Portland, Oregon, US.

The report, titled, “Vegan Supplements Market by Product Type, Form, and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2021–2028” also found that, by product type, the protein segment dominated the global market in 2019, expected to retain its dominance throughout the vegan supplements market forecast period. Additionally, the powder segment led the global vegan supplements market demand in 2019, and the pharmacies/drug stores segment dominated the global market in 2019 as far as distribution channels are concerned. North America accounted for the highest vegan supplements market share in 2019 and is expected to grow at a CAGR of 5.3%.

The key players profiled in the vegan supplements analysis include Aloha, Bhu Foods, Danone S.A., Jarrow Formulas, Inc., Kerry Group, PLC, Kikkoman Corporation, Nestle S.A., NuGo Nutrition, Nutrazee, and PepsiCo, Inc.

According to MenaFM, the vegan protein powder market size was valued at $3.5 billion in 2021 and is estimated to reach $7.3 billion by 2031, growing at a CAGR of 7.8% from 2022 to 2031. In 2021, the soy and pea segments collectively accounted for around 67.3% market share, with soy protein constituting around 53.3% share.

Elite athletes such as former world heavyweight champion boxer David Haye and Venus Williams are reported to have taken vegan supplements in recent times.

“Originally from Catalonia, but resident in the UK for several decades, Jordi is a vegan zoologist and author, who has been involved in different aspects of animal protection for many years. In addition to scientific research, he has worked mostly as an undercover investigator, animal welfare consultant, and animal protection campaigner. He has been an ethical vegan since 2002, and in 2020 he secured the legal protection of all ethical vegans in Great Britain from discrimination in a landmark employment tribunal case that was discussed all over the world. He is also the author of the book, ‘Ethical Vegan: a personal and political journey to change the world’.