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India Vegan Vitamins And Supplements Market
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India Vegan Vitamins And Supplements Market

Home Food And Beverages India Vegan Vitamins And Supplements Market

India Vegan Vitamins and Supplements Market - By Type (Olive Oil, Mustard Oil, Almond Oil, Castor Oil, Chamomile Oil, Tea Oil); By Nature (Synthetic, Organic); By Distribution Channel (Store-based Retail, Specialty Stores, Online Retail, Supermarkets, Hypermarkets); By Region (North India, South India, East India, West India), Trend Analysis, Competitive Landscape & Forecast, 2019–2029

  • Published Date: June 2023
  • Report ID: BWC23438
  • Available Format: PDF
  • Page: 200

Report Overview

The demand for vegan vitamins and supplements is expanding as more people become aware of the health advantages of a plant-based diet, growing vegan population, and the availability of more vegan products. In the coming years, the India vegan vitamins and supplements market is expected to boom due to these and other favorable factors.

India Vegan Vitamins and Supplements Market – Industry Trends & Forecast Report, 2029

India vegan vitamins and supplements market size was estimated at USD 1.07 billion in 2022. During the forecast period between 2023 and 2029, the India vegan vitamins and supplements market size is projected to grow at a CAGR of 12.54% reaching a value of USD 4.31 billion by 2029. The India vegan vitamins and supplements market is experiencing growth due to several factors. The increasing awareness of health and wellness, growing concerns about animal welfare, and the rise of veganism as a lifestyle choice are driving the demand for vegan vitamins and supplements in the country. Additionally, the availability of a diverse range of vegan products, including vitamins, minerals, protein powders, and other dietary supplements, caters to the specific needs of individuals following plant-based diets.

India Vegan Vitamins and Supplements Market
 

India Vegan Vitamins and Supplements Market – Overview

Vegan vitamins and supplements are dietary supplements made from plant-based ingredients that are free of animal products, such as gelatin, dairy, eggs, and honey. These supplements are designed to provide individuals who follow a vegan or vegetarian diet with the nutrients they may not get enough of from their food sources. Some common vegan vitamins and supplements include multivitamins, vitamin B12, vitamin D, omega-3 fatty acids, and iron. These supplements are typically made from plant-based sources, such as fruits, vegetables, legumes, and nuts.

India Vegan Vitamins and Supplements Market

Growth Drivers

Increasing Health and Wellness Awareness

Increasing health and wellness awareness is a significant factor driving the growth of the vegan vitamins and supplements market. Consumers are becoming more aware of the impact of their diets on their health, and many are looking for ways to improve their overall wellness. As a result, there is a growing interest in plant-based diets, which has led to an increase in the demand for vegan vitamins and supplements. Vegan diets can be low in certain essential nutrients, such as vitamin B12, iron, calcium, and omega-3 fatty acids, which are commonly found in animal products. Vegan supplements can help individuals who follow a plant-based diet to meet their daily nutrient requirements and prevent deficiencies.

Restraint

High Cost of Vegan Vitamins and Supplements

The high cost of vegan vitamins and supplements can be a hindrance to the growth of the vegan vitamins and supplements market. Compared to non-vegan supplements, vegan supplements are often priced higher due to the cost of sourcing plant-based ingredients and the higher cost of production. Moreover, the demand for vegan supplements has grown significantly in recent years, which has led to some manufacturers charging premium prices for their products. This can make vegan supplements less accessible to consumers who are on a budget or who are not willing to pay a premium for vegan products.

Impact of COVID-19 on India Vegan Vitamins and Supplements Market

During the early phases of the pandemic, there was a surge in demand for health and wellness products, including vegan vitamins and supplements, as people looked for ways to boost their immune systems and maintain their health. This led to a temporary spike in sales of vegan supplements in India. However, as the pandemic continued and the economic impact of the crisis began to be felt, some consumers may have become more cautious with their spending, and there may have been a slight decline in demand for vegan supplements. Moreover, disruptions in the supply chain caused by the pandemic, such as travel restrictions and lockdowns, may have led to delays in the delivery of raw materials and finished products, causing supply shortages and price fluctuations.

India Vegan Vitamins and Supplements Market

Segmental Coverage

India Vegan Vitamins and Supplements Market – By Type

Based on type, the India vegan vitamins and supplements market is divided into olive oil, mustard oil, almond oil, castor oil, chamomile oil and tea tree oil segments. The tea tree oil segment is expected to grow during the forecast period. Tea tree oil is an essential oil that is derived from the leaves of the tea tree plant and is known for its antimicrobial and anti-inflammatory properties. It is commonly used in a variety of health and wellness products, including in the vegan vitamins and supplements market in India. Tea tree oil is often used in natural and herbal remedies, such as for the treatment of acne, dandruff, and fungal infections. As such, it has gained popularity in the India vegan vitamins and supplements market as a natural and effective alternative to traditional pharmaceuticals.

India Vegan Vitamins and Supplements Market – By Nature

Based on nature, the India vegan vitamins and supplements market is segmented into synthetic and organic. The organic vegan vitamins and supplements market in India has been experiencing significant growth in recent years, driven by increasing consumer demand for natural and plant-based products that are free from synthetic chemicals and harmful additives. The organic movement in India has gained momentum in recent years, with more consumers becoming aware of the potential health and environmental benefits of organic products. This has led to a growing market for organic foods and products, including vitamins and supplements.

India Vegan Vitamins and Supplements Market Size

Competitive Landscape

Major players operating in India vegan vitamins and supplements market include are VegLife, Dupont, DEVA, NOW Foods, Natrol, Solgar Inc, Vitacost, HTC Health, Orgenetics, and Ora Organic. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Recent Developments

  • In February 2021 - Oziva, a Pune, India-based company, raised USD 12 million in a funding round led by Eight Roads Ventures. The funding will be used to expand Oziva's product line and distribution network, as well as to invest in research and development.

  • In October 2021 - Amway launched the vegan-certified Nutrilite All Plant Protein Powder in India. The product is part of Amway's Nutrilite brand, which is known for its nutritional supplements. Nutrilite All Plant Protein Powder is specifically formulated to provide a plant-based protein source for individuals following vegan or vegetarian diets.

Scope of the Report

Attributes

Details

Years Considered

Historical Data – 2019–2022

Base Year – 2022

Estimated Year – 2023

Forecast Period – 2023–2029

Facts Covered

Revenue in USD Billion

Product/ Service Segmentation

Type, Nature, Distribution Channel

Key Players

VegLife, Dupont, DEVA, NOW Foods, Natrol, Solgar Inc, Vitacost, HTC Health, Orgenetics, Ora Organic

 

By Type

  • Olive Oil

  • Mustard Oil

  • Almond Oil

  • Castor Oil

  • Chamomile Oil

  • Tea Tree Oil

By Nature

  • Synthetic

  • Organic

By Distribution Channel

  • Store-based Retail

  • Specialty Stores

  • Online Retail

  • Supermarkets

  • Hypermarkets

By Region

  • North India

  • South India

  • East India

  • West India

  1. Research Framework
    1. Research Objective
    2. Product Overview
    3. Market Segmentation
  2. Executive Summary
  3. India Vegan Vitamins and Supplements Market Insights
    1. Industry Value Chain Analysis
    2. DROC Analysis
      1. Growth Drivers
        1. Increasing Health and Wellness Awareness
        2. Growing Prevalence of Vitamin and Mineral Deficiencies
      2. Restraints
        1. High Cost of Vegan Vitamins and Supplements
      3. Opportunity
        1. Expansion of the Vegan Food Industry
      4. Challenges
        1. Stringent Government Regulations
    3. Technology Advancements/Recent Developments
    4. Regulatory Framework
    5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
  4. India Vegan Vitamins and Supplements Market Overview
    1. Market Size & Forecast, 2019–2029
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Type
        1. Olive Oil
        2. Mustard Oil
        3. Almond Oil
        4. Castor Oil
        5. Chamomile Oil
        6. Tea Tree Oil
      2. By Nature
        1. Synthetic
        2. Organic
      3. By Distribution Channel
        1. Store Based Retail
        2. Specialty Stores
        3. Online Retail
        4. Supermarkets
        5. Hypermarkets
      4. By Region
        1. North India
        2. South India
        3. East India
        4. West India
  5. North India Vegan Vitamins and Supplements Market
    1. Market Size & Forecast, 2019–2029
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Type
      2. By Nature
      3. By Distribution Channel
  6. South India Vegan Vitamins and Supplements Market
    1. Market Size & Forecast, 2019–2029
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Type
      2. By Nature
      3. By Distribution Channel
  7. East India Vegan Vitamins and Supplements Market
    1. Market Size & Forecast, 2019–2029
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Type
      2. By Nature
      3. By Distribution Channel
  8. West India Vegan Vitamins and Supplements Market
    1. Market Size & Forecast, 2019–2029
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Type
      2. By Nature
      3. By Distribution Channel
  9. Competitive Landscape
    1. List of Key Players and Their Offerings
    2. India Vegan Vitamins and Supplements Company Market Share Analysis, 2022
    3. Competitive Benchmarking, By Operating Parameters
    4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
  10. Impact of Covid-19 on India Vegan Vitamins and Supplements Market
  11. Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, SWOT Analysis)
    1. VegLife
    2. Dupont
    3. DEVA
    4. NOW Foods
    5. Natrol
    6. Solgar Inc
    7. Vitacost
    8. HTC Health
    9. Orgenetics
    10. Ora Organic
    11. Other Prominent Players
  12. Key Strategic Recommendations
  13. Research Methodology
    1. Qualitative Research
      1. Primary & Secondary Research
    2. Quantitative Research
    3.  Market Breakdown & Data Triangulation
      1.  Secondary Research
      2.  Primary Research
    4.  Breakdown of Primary Research Respondents, By Region
    5.  Assumptions & Limitations

 

*Financial information of case of non-listed companies can be provided as per availability.

**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable.

 

 

List of Figures

 

Figure 1       India Vegan Vitamins and Supplements Segmentation     

Figure 2       India Vegan Vitamins and Supplements Market Value Chain Analysis   

Figure 3       Company Market Share Analysis, 2022

Figure 4       India Vegan Vitamins and Supplements Market Size, By Value (USD Million), 2019–2029 

Figure 5       India Vegan Vitamins and Supplements Market Share, By Type, By Value, 2019–2029 

Figure 6       India Vegan Vitamins and Supplements Market Share, By Nature, By Value, 2019–2029 

Figure 7       India Vegan Vitamins and Supplements Market Share, By Distribution Channel, By Value, 2019–2029

Figure 8       North India Vegan Vitamins and Supplements Market Size, By Value (USD Million), 2019–2029 

Figure 9       North India Vegan Vitamins and Supplements Market Share, By Type, By Value, 2019–2029 

Figure 10     North India Vegan Vitamins and Supplements Market Share, By Nature, By Value, 2019–2029 

Figure 11     North India Vegan Vitamins and Supplements Market Share, By Distribution Channel, By Value, 2019–2029 

Figure 12     South India Vegan Vitamins and Supplements Market Size, By Value (USD Million), 2019–2029       

Figure 13     South India Vegan Vitamins and Supplements Market Share, By Type, By Value, 2019–2029 

Figure 14     South India Vegan Vitamins and Supplements Market Share, By Nature, By Value, 2019–2029 

Figure 15     South India Vegan Vitamins and Supplements Market Share, By Distribution Channel, By Value, 2019–2029 

Figure 16     East India Vegan Vitamins and Supplements Market Size, By Value (USD Million), 2019–2029 

Figure 17     East India Vegan Vitamins and Supplements Market Share, By Type, By Value, 2019–2029 

Figure 18     East India Vegan Vitamins and Supplements Market Share, By Nature, By Value, 2019–2029 

Figure 19     East India Vegan Vitamins and Supplements Market Share, By Distribution Channel, By Value, 2019–2029 

Figure 20     West India Vegan Vitamins and Supplements Market Size, By Value (USD Million), 2019–2029 

Figure 21     West India Vegan Vitamins and Supplements Market Share, By Type, By Value, 2019–2029 

Figure 22     West India Vegan Vitamins and Supplements Market Share, By Nature, By Value, 2019–2029 

Figure 23     West India Vegan Vitamins and Supplements Market Share, By Distribution Channel, By Value, 2019–2029 

 

 

List of Tables

 

Table 1        India Vegan Vitamins and Supplements Market Size, By Value (USD Million), 2019–2029

Table 2        India Vegan Vitamins and Supplements Market Size, By Type, By Value, 2019–2029

Table 3        India Vegan Vitamins and Supplements Market Size, By Nature, By Value, 2019–2029

Table 4        India Vegan Vitamins and Supplements Market Size, By Distribution Channel, By Value, 2019–2029

Table 5        North India Vegan Vitamins and Supplements Market Size, By Value (USD Million), 2019–2029

Table 6        North India Vegan Vitamins and Supplements Market Size, By Type, By Value, 2019–2029

Table 7        North India Vegan Vitamins and Supplements Market Size, By Nature, By Value, 2019–2029

Table 8        North India Vegan Vitamins and Supplements Market Size, By Distribution Channel, By Value, 2019–2029

Table 9        South India Vegan Vitamins and Supplements Market Size, By Value (USD Million), 2019–2029

Table 10      South India Vegan Vitamins and Supplements Market Size, By Type, By Value, 2019–2029

Table 11      South India Vegan Vitamins and Supplements Market Size, By Nature, By Value, 2019–2029

Table 12      South India Vegan Vitamins and Supplements Market Size, By Distribution Channel, By Value, 2019–2029

Table 13      East India Vegan Vitamins and Supplements Market Size, By Value (USD Million), 2019–2029

Table 14      East India Vegan Vitamins and Supplements Market Size, By Type, By Value, 2019–2029

Table 15      East India Vegan Vitamins and Supplements Market Size, By Nature, By Value, 2019–2029

Table 16      East India Vegan Vitamins and Supplements Market Size, By Distribution Channel, By Value, 2019–2029

Table 17      West India Vegan Vitamins and Supplements Market Size, By Value (USD Million), 2019–2029

Table 18      West India Vegan Vitamins and Supplements Market Size, By Type, By Value, 2019–2029

Table 19      West India Vegan Vitamins and Supplements Market Size, By Nature, By Value, 2019–2029

Table 20      West India Vegan Vitamins and Supplements Market Size, By Distribution Channel, By Value, 2019–2029

Table 21      VegLife Company Overview

Table 22      VegLife Financial Overview

Table 23      Dupont Company Overview

Table 24      Dupont Financial Overview

Table 25      DEVA Company Overview

Table 26      DEVA Financial Overview

Table 27      NOW Foods Company Overview

Table 28      NOW Foods Financial Overview

Table 29      Natrol Company Overview

Table 30      Natrol Financial Overview

Table 31      Solgar Inc Company Overview

Table 32      Solgar Inc Financial Overview

Table 33      Vitacost Company Overview

Table 34      Vitacost Financial Overview

Table 35      HTC Health Company Overview

Table 36      HTC Health Financial Overview

Table 37      Orgenetics Company Overview

Table 38      Orgenetics Financial Overview

Table 39      Ora Organic Company Overview

Table 40      Ora Organic Financial Overview

Market Segmentation

No data available
No data available

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Frequently Asked Questions (FAQs):

Ans: India Vegan Vitamins and Supplements Market size was estimated at USD 1.07 billion in 2022.
Ans: India Vegan Vitamins and Supplements Market is a growing segment of the overall vitamin and supplement market, driven by factors such as increasing awareness of the health benefits of a plant-based diet, growing vegan population, and increased availability of vegan products.
Ans: Key players in India Vegan Vitamins and Supplements Market include VegLife, Dupont, DEVA, NOW Foods, Natrol, Solgar Inc, Vitacost, HTC Health, Orgenetics, and Ora Organic.
Ans: The tea tree oil segment is expected to hold the highest market share in the India Vegan Vitamins and Supplements Market by type.
Ans: The organic segment holds a higher market share in the India Vegan Vitamins and Supplements Market by source.