According to the latest report of the IMARC group, entitled “Vegan Food Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” the the global vegan food market is expected to show a CAGR of 10.14% over the period 2022-2027.
Vegan food refers to a variety of foods without dairy or meat. These food products are usually processed and derived from plant sources which largely replace regular dairy and meat products. They are generally similar in flavor, taste, and texture, but are much healthier than their conventional counterparts. They are rich in iron, magnesium, folic acid and vitamins B1, C and E. They are also characterized by a low concentration of cholesterol and saturated fats. Accordingly, they are widely used in the preparation of many dishes.
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Important Attribute and Report Highlights:
- Detailed Global Market Share Analysis
- Market segmentation by product, source and distribution channel.
- Historical, current and projected market size in terms of volume and value
- Latest industry trends and developments
- Competitive landscape for the vegan food market
- Strategies of key players and product offerings
Global Vegan Food Market Trends:
The global market is mainly driven by the growing health consciousness among the masses. With the increasing incidence of lifestyle-related diseases globally, many people are actively looking for healthier alternatives to regular food items to incorporate into their regular meals. This, coupled with the widespread awareness of the multiple health benefits associated with plant-based diets, is providing impetus for the growth of the market. The market is further boosted by the numerous initiatives undertaken by Non-Governmental Organizations (NGOs) to promote awareness of animal cruelty prevention and encourage the adoption of vegan food products.
Additionally, several key players are now introducing premium vegan food substitutes to the market, available in various flavors and innovative packaging solutions. This, in conjunction with aggressive promotional activities by vendors and the growing number of celebrities and athletes, is creating a positive outlook for the market. Some of the other factors contributing to the growth of the market include rapid urbanization, inflation in per capita income levels, advent of ready-to-eat (RTE) vegan foods in the market, and easy availability of products through the channels online and offline retail.
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Key Players Included in the Global Vegan Food Market Research Report:
- Amy’s Kitchen, Inc.
- Beyond Meat, Inc.
- Daiya Foods, Inc.
- Danone S.A.
- Eden Foods, Inc.
- Plamil Foods Ltd.
- Archer Daniels Midland Company
- Brands Tofutti, Inc.
- VBites Foods Limited
- Vitasoy Australia Products Pty Ltd
Also read the full blog: List of top 10 vegan food manufacturers in the world
Overview of the impact of COVID-19:
We regularly monitor the direct effect of COVID-19 on the market, as well as the indirect influence of associated industries. These observations will be incorporated into the report.
Key Market Segmentation:
Breakdown by product:
- Dairy alternatives
- Meat substitutes
- Textured Vegetable Protein (TVP)
Breakdown by source:
Breakdown by distribution channel:
- Supermarkets and Hypermarkets
- convenience stores
- Specialty stores
- Online stores
Breakdown by region:
- North America (USA, Canada)
- Asia-Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Latin America (Brazil, Mexico, others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Others)
Table of Content of Vegan Food Market Research Report:
- Scope and methodology
- Global vegan food market
- SWOT analysis
- Value chain analysis
- Price analysis
- Competitive landscape
Other reports from the IMARC group:
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