Global Vegan B12 Supplement Market Research Report 2024
Published on: 2024-01-04 | No of Pages : 400 | Industry : Pharma & Healthcare
Publisher : MRA | Format : PDF
Global Vegan B12 Supplement Market Research Report 2024
According to Mr Accuracy reports new survey, global Vegan B12 Supplement market is projected to reach US$ 264 million in 2029, increasing from US$ 209 million in 2022, with the CAGR of 3.4% during the period of 2024 to 2029. Influencing issues, such as economy environments, COVID-19 and Russia-Ukraine War, have led to great market fluctuations in the past few years and are considered comprehensively in the whole Vegan B12 Supplement market research.
The vegan B12 supplement market has been experiencing significant growth in recent years, driven by the increasing adoption of vegan and vegetarian diets. B12 is primarily found in animal-based products, making it challenging for vegans to obtain sufficient levels of this essential nutrient from their diet alone. As a result, the demand for vegan B12 supplements has been steadily rising.The vegan B12 supplement market is witnessing strong growth across various regions, including North America, Europe, and Asia-Pacific. North America currently holds the largest market share, driven by the high prevalence of vegan and vegetarian diets in countries like the United States and Canada. Europe is also a significant market for vegan B12 supplements, with countries like Germany, the United Kingdom, and France leading the demand. The Asia-Pacific region is expected to witness the fastest growth, fueled by the increasing adoption of veganism and vegetarianism in countries like India, China, and Japan.The vegan B12 supplement market is highly fragmented, with numerous players operating in the industry. The vegan B12 supplement market presents several opportunities for growth. The rising awareness about the importance of B12 supplementation among vegans and vegetarians is a key driver for market expansion. Additionally, the increasing availability of vegan B12 supplements through online retail channels and health food stores is expected to boost market growth. Moreover, the growing trend of personalized nutrition and the development of innovative delivery formats, such as gummies and sprays, present opportunities for market players to cater to a wider consumer base.Despite the positive market outlook, the vegan B12 supplement market also faces certain challenges. One of the primary challenges is the lack of awareness among vegans and vegetarians about the need for B12 supplementation. Many individuals following plant-based diets may not be aware of the potential health risks associated with B12 deficiency, leading to lower demand for supplements. Additionally, the availability of plant-based food fortified with B12, such as plant-based milk and cereals, may reduce the perceived need for supplements among some consumers. Moreover, the presence of counterfeit products and the lack of regulatory standards in some regions pose challenges to market growth.
Report Scope
This report, based on historical analysis (2018-2022) and forecast calculation (2024-2034), aims to help readers to get a comprehensive understanding of global Vegan B12 Supplement market with multiple angles, which provides sufficient supports to readers’ strategy and decision making.
Live Conscious
Future Kind
HUM Nutrition
MegaFood
Global Healing
Naturelo
Deva
MaryRuth’s
Garden of Life
EZ Melts
Vivo Life
Puritan's Pride
Live Well Nationwide
Omvits
Ergomax
EVO Nutrition
Nuevita
Sealions
Segment by Type
Capsule
Spray
Others
Segment by Channel
Offline Sales
Online Sales
North America
United States
Canada
Europe
Germany
France
U.K.
Italy
Russia
Asia-Pacific
China
Japan
South Korea
India
Australia
China Taiwan
Indonesia
Thailand
Malaysia
Latin America
Mexico
Brazil
Argentina
Middle East & Africa
Turkey
Saudi Arabia
UAE
The Vegan B12 Supplement report covers below items
Chapter 1Product Basic Information (Definition, Type and Channel)
Chapter 2Manufacturers’ Competition Patterns
Chapter 3Country Level Sales Analysis
Chapter 4Product Type Analysis
Chapter 5Product Channel Analysis
Chapter 6Manufacturers’ Outline
Chapter 7Industry Chain, Market Channel and Customer Analysis
Chapter 8Market Opportunities and Challenges
Chapter 9Market Conclusions
Chapter 10Research Methodology and Data Source
The vegan B12 supplement market has been experiencing significant growth in recent years, driven by the increasing adoption of vegan and vegetarian diets. B12 is primarily found in animal-based products, making it challenging for vegans to obtain sufficient levels of this essential nutrient from their diet alone. As a result, the demand for vegan B12 supplements has been steadily rising.The vegan B12 supplement market is witnessing strong growth across various regions, including North America, Europe, and Asia-Pacific. North America currently holds the largest market share, driven by the high prevalence of vegan and vegetarian diets in countries like the United States and Canada. Europe is also a significant market for vegan B12 supplements, with countries like Germany, the United Kingdom, and France leading the demand. The Asia-Pacific region is expected to witness the fastest growth, fueled by the increasing adoption of veganism and vegetarianism in countries like India, China, and Japan.The vegan B12 supplement market is highly fragmented, with numerous players operating in the industry. The vegan B12 supplement market presents several opportunities for growth. The rising awareness about the importance of B12 supplementation among vegans and vegetarians is a key driver for market expansion. Additionally, the increasing availability of vegan B12 supplements through online retail channels and health food stores is expected to boost market growth. Moreover, the growing trend of personalized nutrition and the development of innovative delivery formats, such as gummies and sprays, present opportunities for market players to cater to a wider consumer base.Despite the positive market outlook, the vegan B12 supplement market also faces certain challenges. One of the primary challenges is the lack of awareness among vegans and vegetarians about the need for B12 supplementation. Many individuals following plant-based diets may not be aware of the potential health risks associated with B12 deficiency, leading to lower demand for supplements. Additionally, the availability of plant-based food fortified with B12, such as plant-based milk and cereals, may reduce the perceived need for supplements among some consumers. Moreover, the presence of counterfeit products and the lack of regulatory standards in some regions pose challenges to market growth.
Report Scope
This report, based on historical analysis (2018-2022) and forecast calculation (2024-2034), aims to help readers to get a comprehensive understanding of global Vegan B12 Supplement market with multiple angles, which provides sufficient supports to readers’ strategy and decision making.
By Company
Live Conscious
Future Kind
HUM Nutrition
MegaFood
Global Healing
Naturelo
Deva
MaryRuth’s
Garden of Life
EZ Melts
Vivo Life
Puritan's Pride
Live Well Nationwide
Omvits
Ergomax
EVO Nutrition
Nuevita
Sealions
Segment by Type
Capsule
Spray
Others
Segment by Channel
Offline Sales
Online Sales
Consumption by Region
North America
United States
Canada
Europe
Germany
France
U.K.
Italy
Russia
Asia-Pacific
China
Japan
South Korea
India
Australia
China Taiwan
Indonesia
Thailand
Malaysia
Latin America
Mexico
Brazil
Argentina
Middle East & Africa
Turkey
Saudi Arabia
UAE
The Vegan B12 Supplement report covers below items
Chapter 1Product Basic Information (Definition, Type and Channel)
Chapter 2Manufacturers’ Competition Patterns
Chapter 3Country Level Sales Analysis
Chapter 4Product Type Analysis
Chapter 5Product Channel Analysis
Chapter 6Manufacturers’ Outline
Chapter 7Industry Chain, Market Channel and Customer Analysis
Chapter 8Market Opportunities and Challenges
Chapter 9Market Conclusions
Chapter 10Research Methodology and Data Source
Electronic and Semiconductor
Food and Beverages
Chemicals and Materials
Consumer Goods
Construction Manufacturing
Aerospace and Defence
Energy and Power
ICT Media
Banking and Finance
Automotive and Transportation
Machinery and Equipments
Pharmaceutical and Healthcare
Medical Devices