The latest report published by IMARC Group, titled “Vegan Food Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a comprehensive analysis of the industry, which comprises insights on global vegan food market share. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global vegan food market size reached US$ 16.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 29.8 Billion by 2028, exhibiting a growth rate (CAGR) of 9.7% during 2023-2028.
Vegan food refers to dishes that are free from any animal products or by-products, including meat, dairy, eggs, and honey. It is often rich in fruits, vegetables, legumes, nuts, and whole grains, providing a wide range of essential nutrients, such as fiber, vitamins, and minerals. While initially viewed as limiting, the world of vegan food has expanded to include various substitutes like plant-based meats, dairy-free cheeses, and egg alternatives, making it easier for people to adopt this lifestyle. These innovations have helped dispel the notion that vegan diets are deficient in protein or other vital nutrients. In fact, well-planned vegan diets can be nutritionally adequate and may offer health advantages, such as lower risks of heart disease, high blood pressure, and certain types of cancer. Vegan food has also made its way into mainstream restaurants and supermarkets, making it more accessible than ever.
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Market Trends:
The global market is primarily driven by the rising awareness of animal welfare issues and the environmental impact of livestock farming. This has led to a growing number of consumers opting for plant-based alternatives, thereby impelling the demand for vegan food products. Furthermore, the increased focus on the benefits of a plant-based diet, including lower risks of heart disease, diabetes, and certain types of cancer, has made vegan foods more appealing to health-conscious consumers. The trend is supported by medical studies and endorsements from healthcare professionals, adding credibility and fostering market growth. Moreover, continual technological advancements in food science have enabled the development of vegan products that closely mimic the taste and texture of animal-based foods. These innovations are attracting not just strict vegans but also flexitarians who wish to reduce their animal product consumption without sacrificing taste.
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Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
- Amy’s Kitchen Inc.
- Beyond Meat Inc.
- Daiya Foods Inc.
- Danone S.A.
- Eden Foods Inc.
- Plamil Foods Ltd.
- The Archer Daniels Midland Company
- Tofutti Brands Inc.
- VBites Foods Limited
- Vitasoy Australia Products Pty Ltd.
Explore Top Companies Blog by IMARC Group:
https://www.imarcgroup.com/vegan-food-manufacturers
Vegan Food Market Segmentation:
Our report has categorized the market based on region, product, source, and distribution channel.
Breakup by Product:
- Dairy Alternatives
- Cheese
- Desserts
- Snacks
- Others
- Meat Substitutes
- Tofu
- Texturized Vegetable Protein (TVP)
- Seiten
- Quorn
- Others
- Others
Breakup by Source:
- Almond
- Soy
- Oats
- Wheat
- Others
Breakup by Distribution Channel:
- Supermarkets and Hypermarkets
- Convenience Stores
- Specialty Stores
- Online Stores
- Others
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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