Over $14 billion from the vegan food industry worldwide through 2031

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Global vegan food market

Global vegan food market

Global vegan food market

Dublin, Nov. 11, 2022 (GLOBE NEWSWIRE) — The “Global Vegan Food Market Report 2022” report has been added to from ResearchAndMarkets.com offer.

This report provides strategists, marketers, and senior management with the essential information they need to assess the global vegan market.

This report focuses on the vegan market which is experiencing high growth. The report gives a vegan market guide that will shape and change our lives over the next ten years and beyond, including the market response to the challenge of the global pandemic.

Reasons to buy

  • Get a truly global perspective with the most comprehensive report available on this market covering over 12 geographies.

  • Understand how the market is affected by the coronavirus and how it is likely to emerge and grow as the impact of the virus diminishes.

  • Create regional and national strategies based on local data and analysis.

  • Identify growth segments for investment.

  • Outperform your competition using forecast data and the drivers and trends shaping the market.

  • Understand customers based on the latest market research.

  • Benchmark performance against leading competitors.

  • Use relationships between key data sets for better strategy.

  • Suitable to support your internal and external presentations with reliable high quality data and analysis

The major market players are Amy’s Kitchen, Vitasoy International Holdings Ltd., Beyond Meat, Tofutti Brands, Plamil Foods Ltd., Danone SA, Vbites Foods Ltd., Eden Foods Inc., Whitewave Foods Company Inc, Sun Opta Inc.

The global vegan food market is expected to grow from $13.55 billion in 2021 to $14.45 billion in 2022 at a compound annual growth rate (CAGR) of 6.6%. The market is expected to reach $18.73 billion in 2026 at a compound annual growth rate (CAGR) of 6.7%.

The vegan marketplace is the sale of vegan products and related services for consumption. Vegan products include foods and beverages produced without the use of animal-derived ingredients or animal-derived ingredients. Vegan food products include fruits and vegetables, legumes such as peas, beans, vegetable protein tofu, and vegetable protein meat.

Asia-Pacific was the largest region in the vegan food market in 2021. Western Europe was the second largest region in the vegan food market. Regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

An increase in environmental concerns among the population is driving the growth of the vegan market. Raising and raising livestock such as pigs, chickens, cows, goats on farms contributes to the greenhouse effect. Greenhouse gases are released by farming livestock, such as cows, and the gases released prevent atmospheric heat from escaping, which increases the global temperature.

The demand for animal meat necessitates an excessive practice of animal husbandry. Thus, the increase in the number of vegan food consumers eliminates the demand for excessive animal husbandry, following a decrease in greenhouse gas emissions in the environment. According to the United States Environmental Protection Agency, in 2018 the total gross greenhouse gas emissions in the United States were 6,676.6 million metric tons of carbon dioxide equivalent ( MMT CO2 Eq). Thus, an increase in environmental concerns among the population is driving the growth of the vegan market.

Vegan food products lack certain nutrients. Vegan products do not contain any ingredients of animal origin or animal origin. Vegan foods do not contain adequate amounts of high quality protein and fats, vegan and vegetarian diets lack many very important minerals, such as calcium, iron and zinc. According to a 2020 study published by BMC Medicine, vegans have a higher fracture risk than meat eaters, fish eaters and vegetarians. The strongest associations were seen for hip fractures, for which fish eaters, vegetarians and vegans all had higher risks. This is due to insufficient calcium intake in a vegan diet. Hence, the lack of essential nutrient factor is impacting the growth of the vegan market.

One of the trends in the vegan market is the production of meat using cell technology. Cell-to-cell identical meat is produced in factories without involving the killing of animals. Cell-based meat production involves feeding animal cells with nutrients and proteins, eliminating the need to depend on animals for meat. Following the trend, in 2019, Memphis Meats, a US-based cellular meat start-up, received investment from Cargill, a US-based food production company, for the production of vegan animal meat based on of cells. Other major players such as Tyson Foods, a US-based chicken, beef and pork processor and marketer, are also investing in Memphis Meats to support cell-based meat production.

The countries covered in the market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and United States.

Main topics covered:

1. Summary

2. Characteristics of the vegan market

3. Vegan Market Trends and Strategies

4. Impact of COVID-19 on vegans

5. Vegan Market Size and Growth
5.1. Global Vegan Historical Market, 2016-2021, USD Billion
5.1.1. Market Drivers
5.1.2. Market Constraints
5.2. Global Vegan Forecast Market, 2021-2026F, 2031F, Billion USD
5.2.1. Market Drivers
5.2.2. Market Constraints

6. Vegan Market Segmentation
6.1. Global vegan market, segmentation by product substitute, history and forecast, 2016-2021, 2021-2026F, 2031F, billion dollars

6.2. Global vegan market, segmentation by distribution channel, history and forecast, 2016-2021, 2021-2026F, 2031F, billions of dollars

6.3. Global Vegan Market, Segmentation by Source, History & Forecast, 2016-2021, 2021-2026F, 2031F, USD Billion

  • Wheat

  • Soy

  • oats

  • Almond

  • Other Resources

7. Regional and Country-wise Vegan Market Analysis
7.1. Global Vegan Market, Split by Region, Historical & Forecast, 2016-2021, 2021-2026F, 2031F, USD Billion
7.2. Global vegan market, split by country, historical and forecast, 2016-2021, 2021-2026F, 2031F, in USD billion

For more information on this report, visit https://www.researchandmarkets.com/r/brru5x

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