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Vegan Supplements Market in North America by Distribution Channel and Geography - Forecast and Analysis 2022-2026

  • Published: May 2022
  • Pages: 107
  • SKU: IRTNTR73464
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The predicted growth for the vegan supplements market share in North America from 2021 to 2026 is USD 768.62 million at a progressing CAGR of 7.75%.

This vegan supplements market in North America forecast report extensively covers segmentations by:

  • Distribution Channel - Online and offline
  • Geography - US, Canada, and Mexico

The vegan supplements market in North America report offers information on several market vendors, including Aloha, Canopy Growth Corp., Danone SA, Deva Nutrition LLC, FORGE Supplements, Future Kind, Jarrow Formulas Inc., Kerry Group Plc, Kikkoman Corp., Lauras Original Boston Brownies Inc., Natrol LLC, Nestle SA, NOW Health Group Inc., NuGo Nutrition, PepsiCo Inc., Vital Amine Inc., Wonder Laboratories, and DuPont de Nemours Inc. among others. Furthermore, our analysts have provided valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches for the coming years.

What will the Vegan Supplements Market Size in North America be During the Forecast Period?

Download the Free Report Sample to Unlock the Vegan Supplements Market Size in North America for the Forecast Period and Other Important Statistics

 

Vegan Supplements Market in North America: Key Drivers, Trends, and Challenges

The increasing demand for natural products is notably driving the vegan supplements market growth in North America, although factors such as the availability of counterfeit dietary supplements may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the vegan supplements industry in North America. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Vegan Supplements Market Driver in North America

The increasing demand for natural products is one of the key drivers supporting the North America vegan supplements market growth. Consumers are now more aware of the harm caused by toxic and chemical products to the human body in the long run, which has increased the demand for natural products. There are major retailers such as Costco, Walmart, and Whole Foods who are driving food supplement producers to make sweeping changes such as using plant-based ingredients, along with natural flavors, in their products. As a result, food manufacturers have started including vegan supplements in their supply that are extracted from plants, which also provide essential nutrients. As there is an increasing demand for natural products, vendors are continuously introducing such products to cater to customer demands. Thus, such an increasing demand for natural products will drive the North America vegan supplements market growth during the forecast period. 

Key Vegan Supplements Market Trend in North America

The rise in promotional and marketing initiatives is one of the key vegan supplements market trends in North America that is positively impacting the market growth. Vendors of vegan supplements are increasingly investing in promoting and marketing their products effectively. The results of such initiatives have been positive in the case of vegan supplements, which have been marketed extensively by vendors through various campaigns. In addition, vendors are marketing their products based on health claims that help to attract health-conscious people. Thus, the increase in marketing and promotional initiatives will positively influence the growth of the vegan supplements market in North America during the forecast period.

Key Vegan Supplements Market Challenge in North America

The availability of counterfeit dietary supplements is one of the challenges impeding the North America vegan supplements market growth. The counterfeit products are mostly sold online to those who are unaware of fraudulence and buy these products as they are imported. Most of these cases are associated with vitamins and probiotics. The supplements are advertised with false claims of health benefits while these are made of sugar and powdered form of certain chemical substances. Regulatory authorities have been identifying and taking legal actions against the manufacturers of such illegal products. Some manufacturers have faced the closure of their companies as they produced these products without legal approval from regulatory bodies of the countries. Furthermore, There have been instances where the manufacturers of dietary supplements have been charged and sued for deceptive advertisements. However, counterfeit products are still in high demand due to their cost-efficiency. This, in turn, will impede the North America vegan supplements market growth during the forecast period.

This vegan supplements market in North America analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the vegan supplements market in North America as a part of the global packaged foods and meats market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the vegan supplements market in North America during the forecast period.

Who are the Major Vegan Supplements Market Vendors in North America?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • Aloha
  • Canopy Growth Corp.
  • Danone SA
  • Deva Nutrition LLC
  • FORGE Supplements
  • Future Kind
  • Jarrow Formulas Inc.
  • Kerry Group Plc
  • Kikkoman Corp.
  • Lauras Original Boston Brownies Inc.
  • Natrol LLC
  • Nestle SA
  • NOW Health Group Inc.
  • NuGo Nutrition
  • PepsiCo Inc.
  • Vital Amine Inc.
  • Wonder Laboratories
  • DuPont de Nemours Inc.

 

This statistical study of the vegan supplements market in North America encompasses successful business strategies deployed by the key vendors. The vegan supplements market in North America is concentrated and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

  • Aloha.com - The company offers vegan supplements such as protein powders, bars, and drinks in multiple flavors with plant-based ingredients.
  • Canopygrowth.com - The company offers vegan supplements for beauty and health, diet and weight management, sports nutrition, and, sleep and mood support.
  • Futurekind.com - The company offers vegan supplements under the brand names Vivid and Solar, for mental clarity, enhanced brain function, improved focus, and stress management.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The vegan supplements market in North America forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Vegan Supplements Market in North America Value Chain Analysis

Our report provides extensive information on the value chain analysis for the vegan supplements market in North America, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Vegan Supplements Market in North America?

US, Canada, and Mexico are the key markets for vegan supplements market in North America in North America. The rising awareness about the health benefits derived from the consumption of such vegan supplements will facilitate the vegan supplements market growth in the US over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Distribution Channel Segments in the Vegan Supplements Market in North America?

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The vegan supplements market share growth in North America by the online segment will be significant during the forecast period. Online stores have lower operating costs compared with retail outlets. They also allow buyers to see and compare many products and brands, with the added convenience of purchasing from the comfort of their homes. The growth of the vegan supplements market in North America by online stores is directly proportional to the increase in the number of Internet users. Moreover, the US records the fastest Internet penetration due to technological advances. These factors of online stores will drive the US vegan supplements market growth during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the vegan supplements market size in North America and actionable market insights on post COVID-19 impact on each segment.

 

Vegan Supplements Market Scope in North America

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 7.75%

Market growth 2022-2026

$ 768.62 million

Market structure

Concentrated

YoY growth (%)

5.71

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Aloha, Canopy Growth Corp., Danone SA, Deva Nutrition LLC, FORGE Supplements, Future Kind, Jarrow Formulas Inc., Kerry Group Plc, Kikkoman Corp., Lauras Original Boston Brownies Inc., Natrol LLC, Nestle SA, NOW Health Group Inc., NuGo Nutrition, PepsiCo Inc., Vital Amine Inc., Wonder Laboratories, and DuPont de Nemours Inc.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Vegan Supplements Market in North America Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive vegan supplements market growth in North America during the next five years
  • Precise estimation of the vegan supplements market size in North America and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the vegan supplements industry in North America 
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of vegan supplements market vendors in North America

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Country Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Distribution Channel
    • Exhibit 06: Executive Summary – Chart on Incremental Growth
    • Exhibit 07: Executive Summary – Data Table on Incremental Growth
    • Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 09: Parent market
    • Exhibit 10: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 11: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 12: Market segments
  • 3.3 Market size 2021
    • 3.4 Market outlook: Forecast for 2021-2026
      • Exhibit 13: Chart on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 14: Data Table on Regional - Market size and forecast 2021-2026 ($ million)
      • Exhibit 15: Chart on North America: Year-over-year growth 2021-2026 (%)
      • Exhibit 16: Data Table on Regional - Market size and forecast 2021-2026 ($ million)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 17: Five forces analysis - Comparison between 2021 and 2026
    • 4.2 Bargaining power of buyers
      • Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
    • 4.3 Bargaining power of suppliers
      • Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
    • 4.4 Threat of new entrants
      • Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
    • 4.5 Threat of substitutes
      • Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
    • 4.6 Threat of rivalry
      • Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
    • 4.7 Market condition
      • Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

    5 Market Segmentation by Distribution Channel

    • 5.1 Market segments
      • Exhibit 24: Chart on Distribution Channel - Market share 2021-2026 (%)
      • Exhibit 25: Data Table on Distribution Channel - Market share 2021-2026 (%)
    • 5.2 Comparison by Distribution Channel
      • Exhibit 26: Chart on Comparison by Distribution Channel
      • Exhibit 27: Data Table on Comparison by Distribution Channel
    • 5.3 Online - Market size and forecast 2021-2026
      • Exhibit 28: Chart on Online - Market size and forecast 2021-2026 ($ million)
      • Exhibit 29: Data Table on Online - Market size and forecast 2021-2026 ($ million)
      • Exhibit 30: Chart on Online - Year-over-year growth 2021-2026 (%)
      • Exhibit 31: Data Table on Online - Year-over-year growth 2021-2026 (%)
    • 5.4 Offline - Market size and forecast 2021-2026
      • Exhibit 32: Chart on Offline - Market size and forecast 2021-2026 ($ million)
      • Exhibit 33: Data Table on Offline - Market size and forecast 2021-2026 ($ million)
      • Exhibit 34: Chart on Offline - Year-over-year growth 2021-2026 (%)
      • Exhibit 35: Data Table on Offline - Year-over-year growth 2021-2026 (%)
    • 5.5 Market opportunity by Distribution Channel
      • Exhibit 36: Market opportunity by Distribution Channel ($ million)

    6 Customer Landscape

    • 6.1 Customer landscape overview
      • Exhibit 37: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    7 Geographic Landscape

    • 7.1 Geographic segmentation
      • Exhibit 38: Chart on Market share by geography - 2021-2026 (%)
      • Exhibit 39: Data Table on Market share by geography - 2021-2026 (%)
    • 7.2 Geographic comparison
      • Exhibit 40: Chart on Geographic comparison
      • Exhibit 41: Data Table on Geographic comparison
    • 7.3 US - Market size and forecast 2021-2026
      • Exhibit 42: Chart on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 43: Data Table on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 44: Chart on US - Year-over-year growth 2021-2026 (%)
      • Exhibit 45: Data Table on US - Year-over-year growth 2021-2026 (%)
    • 7.4 Canada - Market size and forecast 2021-2026
      • Exhibit 46: Chart on Canada - Market size and forecast 2021-2026 ($ million)
      • Exhibit 47: Data Table on Canada - Market size and forecast 2021-2026 ($ million)
      • Exhibit 48: Chart on Canada - Year-over-year growth 2021-2026 (%)
      • Exhibit 49: Data Table on Canada - Year-over-year growth 2021-2026 (%)
    • 7.5 Mexico - Market size and forecast 2021-2026
      • Exhibit 50: Chart on Mexico - Market size and forecast 2021-2026 ($ million)
      • Exhibit 51: Data Table on Mexico - Market size and forecast 2021-2026 ($ million)
      • Exhibit 52: Chart on Mexico - Year-over-year growth 2021-2026 (%)
      • Exhibit 53: Data Table on Mexico - Year-over-year growth 2021-2026 (%)
    • 7.6 Market opportunity by geography
      • Exhibit 54: Market opportunity by geography ($ million)

    8 Drivers, Challenges, and Trends

    • 8.1 Market drivers
      • 8.2 Market challenges
        • 8.3 Impact of drivers and challenges
          • Exhibit 55: Impact of drivers and challenges in 2021 and 2026
        • 8.4 Market trends

          9 Vendor Landscape

          • 9.1 Overview
            • 9.2 Vendor landscape
              • Exhibit 56: Overview on Criticality of inputs and Factors of differentiation
            • 9.3 Landscape disruption
              • Exhibit 57: Overview on factors of disruption
            • 9.4 Industry risks
              • Exhibit 58: Impact of key risks on business

            10 Vendor Analysis

            • 10.1 Vendors covered
              • Exhibit 59: Vendors covered
            • 10.2 Market positioning of vendors
              • Exhibit 60: Matrix on vendor position and classification
            • 10.3 Aloha
              • Exhibit 61: Aloha - Overview
              • Exhibit 62: Aloha - Product / Service
              • Exhibit 63: Aloha - Key offerings
            • 10.4 Canopy Growth Corp.
              • Exhibit 64: Canopy Growth Corp. - Overview
              • Exhibit 65: Canopy Growth Corp. - Business segments
              • Exhibit 66: Canopy Growth Corp. - Key news
              • Exhibit 67: Canopy Growth Corp. - Key offerings
              • Exhibit 68: Canopy Growth Corp. - Segment focus
            • 10.5 FORGE Supplements
              • Exhibit 69: FORGE Supplements - Overview
              • Exhibit 70: FORGE Supplements - Product / Service
              • Exhibit 71: FORGE Supplements - Key offerings
            • 10.6 Future Kind
              • Exhibit 72: Future Kind - Overview
              • Exhibit 73: Future Kind - Product / Service
              • Exhibit 74: Future Kind - Key offerings
            • 10.7 Kikkoman Corp.
              • Exhibit 75: Kikkoman Corp. - Overview
              • Exhibit 76: Kikkoman Corp. - Business segments
              • Exhibit 77: Kikkoman Corp. - Key offerings
              • Exhibit 78: Kikkoman Corp. - Segment focus
            • 10.8 Nestle SA
              • Exhibit 79: Nestle SA - Overview
              • Exhibit 80: Nestle SA - Business segments
              • Exhibit 81: Nestle SA - Key news
              • Exhibit 82: Nestle SA - Key offerings
              • Exhibit 83: Nestle SA - Segment focus
            • 10.9 NOW Health Group Inc.
              • Exhibit 84: NOW Health Group Inc. - Overview
              • Exhibit 85: NOW Health Group Inc. - Product / Service
              • Exhibit 86: NOW Health Group Inc. - Key offerings
            • 10.10 PepsiCo Inc.
              • Exhibit 87: PepsiCo Inc. - Overview
              • Exhibit 88: PepsiCo Inc. - Business segments
              • Exhibit 89: PepsiCo Inc. - Key news
              • Exhibit 90: PepsiCo Inc. - Key offerings
              • Exhibit 91: PepsiCo Inc. - Segment focus
            • 10.11 Vital Amine Inc.
              • Exhibit 92: Vital Amine Inc. - Overview
              • Exhibit 93: Vital Amine Inc. - Product / Service
              • Exhibit 94: Vital Amine Inc. - Key offerings
            • 10.12 Wonder Laboratories
              • Exhibit 95: Wonder Laboratories - Overview
              • Exhibit 96: Wonder Laboratories - Product / Service
              • Exhibit 97: Wonder Laboratories - Key offerings

            11 Appendix

            • 11.1 Scope of the report
              • 11.2 Inclusions and exclusions checklist
                • Exhibit 98: Inclusions checklist
                • Exhibit 99: Exclusions checklist
              • 11.3 Currency conversion rates for US$
                • Exhibit 100: Currency conversion rates for US$
              • 11.4 Research methodology
                • Exhibit 101: Research methodology
                • Exhibit 102: Validation techniques employed for market sizing
                • Exhibit 103: Information sources
              • 11.5 List of abbreviations
                • Exhibit 104: List of abbreviations

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              TechnavioINFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases
              Technavio

              TechnavioDATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts
              Technavio

              TechnavioREPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape
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              The vegan supplements market in north america market growth will increase by $$ 768.62 mn during 2023-2026.
              The vegan supplements market in north america market is expected to grow at a CAGR of 7.75% during 2023-2026.
              Technavio has segmented the vegan supplements market in north america market by distribution channel (Online and Offline) and geography (US, Canada, and Mexico).
              Aloha, Canopy Growth Corp., Danone SA, Deva Nutrition LLC, FORGE Supplements, Future Kind, Jarrow Formulas Inc., Kerry Group Plc, Kikkoman Corp., Lauras Original Boston Brownies Inc., Natrol LLC, Nestle SA, NOW Health Group Inc., NuGo Nutrition, PepsiCo Inc., Vital Amine Inc., Wonder Laboratories, DuPont de Nemours Inc. are a few of the key vendors in the vegan supplements market in north america market.
              North America will register the highest growth rate of 100% among the other regions. Therefore, the vegan supplements market in north america market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
              The key factors driving the vegan supplements market in north america market growth are:
              • Increasing demand for natural products
              • Rise in promotional and marketing initiatives
              The vegan supplements market in north america market vendors should focus on grabbing business opportunities from the online segment as it accounted for the largest market share in the base year.
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