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