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Vegetarian Market Expected to Break $1.7 Billion by 20101
The market for vegetarian food, beverages, and nutritional sources is on the rise. According to Mintel Research Group, the vegetarian market grew from $730 million in 2000 to $1.2 billion in 2005. At an average growth of 9% per year, this market is projected to reach $1.7 billion by 2010.1 Currently, 26% of the general population prefer animal-free or vegetarian nutrition sources. 43% of the general population reports having used vegetarian food and/or beverages in 2006. And 63% consider themselves vegetarian-aware.2
Global Awareness for Vegetarian Options
Vegetarian-aware consumers take an average of 3.1 more supplements per day than the general population. 63% report that they prefer to buy supplements that have a specific health claim. When choosing supplement brands, effectiveness, safety, and believability are the primary guiding factors in their purchases. And when consumers find a brand they like, 54% remain loyal and regularly purchase those same brands.2
Expand Your Product Line to Reach Vegetarian Consumers
Vegetarian-minded consumers prefer supplements from non-animal and vegetarian sources and are willing to pay more for them. However, in their quest for health and wellness through supplements, an increasing number of consumers are overwhelmed with options. Using a vegetarian alternative label designator on your products helps them quickly recognize the value of your brand.
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