As veganism gains acceptance and a place in the mainstream, demand for vegan products continues to rise, and manufacturers are happy to oblige. A recent report projected a CAGR of 10.5% from 2019 to 2026, and with the latest bout of interest in plant-based health and wellness, the market is well on track to that goal. There are plenty of reasons for companies to include vegan products in their offerings, not the least of which is that they are attractive to a surprisingly wide range of consumers. Vegan supplements appeal not just to vegans but to a growing sector of people interested in the highest quality options for enhancing and maintaining their health. We’ve categorized the four main groups of people who stand to benefit from vegan supplements.
Obviously, vegans are likely to demonstrate the most interest in a product or line of products designed specifically for them. Nothing animal-based or produced with animal byproducts is acceptable to this group, so the range of consumer products available to them is considerably more narrow than it is for other groups. Though the number of vegan products on the market is growing steadily, high-quality health products that align with vegan lifestyle choices can still be difficult to find. Additionally, these consumers have unique nutritional dilemmas not as prominent in those who subscribe to other more omnivorous diets. Though research has shown that plant-based diets can reap healthier outcomes overall in comparison to other more traditional diets, vegans are still at high risk for missing out on essential nutrients that are most easily obtained by animal sources. Bringing vegan products to market that not only appeal to these consumers’ lifestyles but that also help bridge a nutritional gap has the potential to create a win-win relationship with these consumers.
Similar to vegans, vegetarians avoid meat but may be okay consuming other animal byproducts. The range of products that they find acceptable for consumption is slightly wider than vegans’, and there are many different ways to maintain a vegetarian diet. Still, these consumers understand the benefits of using plant-derived ingredients to bolster good health. No matter the category of vegetarian, vegan products always fall squarely within the requirements of what this demographic finds acceptable and safe.
Those who fall into this category do not consider themselves vegetarians but rather try to avoid consuming meat and certain animal products when they can. Consumers in this category typically have one of three main reasons guiding their lifestyle choices: they are personally opposed to eating meat, they understand the negative environmental impacts of industrial farming and aim to object whenever possible, or they, too, understand the many benefits of plant-based nutrition. Either way, recent polls indicated that roughly 26% of Americans identify in this category. Just as with their vegetarian counterparts, they appreciate a product lacking traditionally questionable ingredients derived from animal byproducts and would likely choose a vegan product over a non-vegan one, all other circumstances being equal.
In today’s world, it’s difficult not to be aware of veganism; information about vegan lifestyles, as well as the celebrities, nutritionists, and fitness experts who promote them, are hard to miss, especially in the health space. Though these consumers may not actively identify as non-meat-eating, many still often perceive that vegan products derived strictly from plants and plant byproducts are cleaner and more trustworthy than the alternatives. Though these consumers may not go out of their way to find vegan products, many of them often think of these products as being healthier overall than non-vegan ones.
Gone are the days when producing a vegan supplement means limiting yourself to a narrow consumer base. Today, with veganism more popular than ever and the guidelines and benefits of a vegan lifestyle widely understood, vegan products aren’t a niche product to be avoided by the majority. Done well, they are indicators of higher quality, more conscientious formulation and manufacturing, and better health.
Discover how The GHT Companies can help you formulate or private label the next vegan addition to your supplement line. Contact us today to get started.