Global Vegan Food Market to Be Driven by Growing Awareness of Health Benefits During Forecast Period 2022-2027 – Ripon College Days

Expert Market Research’s new report titled “Global Vegan Food Market Size, Share, Price, Trends, Growth, Report and Forecast 2022-2027′, gives an in-depth analysis of the global vegan food market, assessing the market based on its segments such as product types, distribution channels, and major regions. The report tracks the latest industry trends and studies their impact on the overall market. It also assesses market dynamics, covering key demand and price indicators, as well as market analysis based on SWOT and Porter’s Five Forces models.

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Key highlights of the report include:

Market Overview (2015-2025)

• Historical market size (2021): 15.4 billion USD
• Forecast CAGR (2022-2027): 9%
• Forecasted market size (2027): 26.1 billion USD

Growing awareness of the many health benefits of plant-based food products has broadened the customer base of this industry. Herbal products help maintain blood pressure levels and reduce the risk of heart disease, stroke, prostate cancer, colorectal cancer, cholesterol and premature death. Manufacturers in the market have launched a range of high quality food products in different flavors with attractive packaging solutions, which is further contributing to the growth of the market.

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Industry definition and major segments

Vegan food is devoid of eggs, meat, dairy products and any other ingredients of animal origin. Advocates of vegan food and diet are known as vegans. Vegans often abstain from consuming foods made from animal products such as refined white sugar and other products.

The market can be divided into the following segments by product types:

• Dairy alternatives
• Meat substitutes
• Alternative to eggs
• Vegan bakery
Plant based snacks
• Others

On the basis of distribution channel, the market is split into:

• Supermarkets/Hypermarkets
• Convenience stores
• Specialty stores
• In line
• Others

The main regions of the market are:

• North America
• Latin America
• Europe
• Middle East and Africa
• Asia Pacific

Market trends

The global demand for vegan foods is fueled by a growing perception of animal health and exploitation in the food industry, which has contributed to a significant shift towards plant-based food products and away from animal products. The growing popularity of the vegan diet and the growing trend towards embracing veganism has led to an increased demand for vegan foods.

Main market players

The main market players are Amy’s Kitchen, Danone SA (EPA: BN), The Archer Daniels Midland Company (NYSE: ADM), Daiya Foods Inc., Tofutti Brands Inc. (OTCMKTS: TOFB), Ripple Foods Inc. and Earth’s Own Food Company Inc., among others. The report covers market shares, capacities, plant rotations, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.

Footnote 1: As the novel coronavirus (COVID-19) continues to spread across the globe, our analysts are constantly monitoring the impact of this rapidly evolving situation on markets and consumer buying behaviors. Thus, our latest estimates and analysis on current market trends and forecasts will comprehensively reflect the effects of this emerging pandemic.

Footnote 2: For an overview of primary and secondary market data (2015-2025), along with business strategies and detailed market segmentation, please click request a sample report. The sample report will be delivered to you within 24 hours.

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