Pune, Maharashtra -- (SBWire) -- 01/16/2024 --According to HTF Market Intelligence, the Global Vegan Food market to witness a CAGR of 12.5% during the forecast period (2024-2030). The Latest Released Vegan Food Market Research assesses the future growth potential of the Vegan Food market and provides information and useful statistics on market structure and size. The Vegan Food market size is estimated to increase by USD 32.5 Billion at a CAGR of 12.5% by 2030. The report includes historic market data from 2024 to 2030. The Current market value is pegged at USD 26.7 Billion.
The Major Players Covered in this Report: Beyond Meat (United States), Impossible Foods (United States), Daiya Foods (Canada), Tofurky (United States), Gardein (Canada), Field Roast Grain Meat Co. (United States), Amy's Kitchen (United States), Violife Foods (Greece), Lightlife Foods (United States), Follow Your Heart (United States), Oatly (Sweden), The Vegetarian Butcher (Netherlands)
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Definition:
The vegan food market encompasses a diverse range of food products and substitutes that are entirely plant-based and free from any animal-derived ingredients. These products are designed to mimic the taste, texture, and nutritional profile of traditional animal-based foods while adhering to the principles of veganism. The market includes both natural, unprocessed foods like fruits, vegetables, grains, and legumes, as well as processed and packaged vegan alternatives such as plant-based meat, dairy-free milk, vegan cheese, tofu, and a variety of vegan snacks and desserts. The vegan food market refers to the sector of the food industry that focuses on the production, distribution, and sale of plant-based food products that do not contain any animal-derived ingredients or by-products. This market caters to individuals who follow a vegan lifestyle, which involves abstaining from the consumption of meat, dairy, eggs, and other animal-derived products for ethical, environmental, health, or personal reasons.
Market Trends:
The development and popularity of plant-based meat substitutes, such as burgers, sausages, and chicken alternatives, were on the rise, with companies working to replicate the taste and texture of animal-based meats.
A growing variety of dairy-free alternatives, including almond milk, oat milk, and coconut yogurt, were gaining popularity, driven by consumer demand for lactose-free and vegan options.
The market saw an increase in the availability of vegan convenience foods, including frozen meals, vegan snacks, and ready-to-eat plant-based options for on-the-go consumers.
Market Drivers:
Concerns about health and wellness, including the desire for reduced saturated fat and cholesterol intake, were driving consumers to adopt vegan diets or incorporate more plant-based options.
Increasing awareness of the environmental impact of animal agriculture, including greenhouse gas emissions and deforestation, motivated individuals to choose vegan options for environmental reasons.
Ethical considerations related to animal welfare and cruelty in the food industry were driving many individuals to adopt vegan lifestyles.
Market Opportunities:
There were opportunities for companies to expand their vegan product lines and enter new markets, appealing to a broader customer base looking for plant-based options.
The restaurant and foodservice sector had opportunities to incorporate more vegan menu items to cater to the growing demand for plant-based dining experiences.
Investors and food tech companies were actively investing in research and development to create innovative and appealing vegan products.
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The titled segments and sub-sections of the market are illuminated below:
In-depth analysis of Marine Propulsion Engines market segments by Types: Plant-Based Meat Alternatives, Plant-Based Dairy Alternatives, Plant-Based Bakery and Confectionery, Plant-Based Ready-to-Eat Meals, Plant-Based Beverages, Plant-Based Snacks and Desserts
Detailed analysis of Marine Propulsion Engines market segments by Applications: Retail Consumers, Food Service Providers, Food Manufacturers
Major Key Players of the Market: Beyond Meat (United States), Impossible Foods (United States), Daiya Foods (Canada), Tofurky (United States), Gardein (Canada), Field Roast Grain Meat Co. (United States), Amy's Kitchen (United States), Violife Foods (Greece), Lightlife Foods (United States), Follow Your Heart (United States), Oatly (Sweden), The Vegetarian Butcher (Netherlands)
Geographically, the detailed analysis of consumption, revenue, market share, and growth rate of the following regions:
- The Middle East and Africa (South Africa, Saudi Arabia, UAE, Israel, Egypt, etc.)
- North America (United States, Mexico & Canada)
- South America (Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, etc.)
- Europe (Turkey, Spain, Turkey, Netherlands Denmark, Belgium, Switzerland, Germany, Russia UK, Italy, France, etc.)
- Asia-Pacific (Taiwan, Hong Kong, Singapore, Vietnam, China, Malaysia, Japan, Philippines, Korea, Thailand, India, Indonesia, and Australia).
Objectives of the Report:
- -To carefully analyse and forecast the size of the Vegan Food market by value and volume.
- -To estimate the market shares of major segments of the Vegan Food market.
- -To showcase the development of the Vegan Food market in different parts of the world.
- -To analyse and study micro-markets in terms of their contributions to the Vegan Food market, their prospects, and individual growth trends.
- -To offer precise and useful details about factors affecting the growth of the Vegan Food market.
- -To provide a meticulous assessment of crucial business strategies used by leading companies operating in the Vegan Food market, which include research and development, collaborations, agreements, partnerships, acquisitions, mergers, new developments, and product launches.
Global Vegan Food Market Breakdown by Type (Plant-Based Meat Alternatives, Plant-Based Dairy Alternatives, Plant-Based Bakery and Confectionery, Plant-Based Ready-to-Eat Meals, Plant-Based Beverages, Plant-Based Snacks and Desserts) by Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, Online Retail) by End User (Retail Consumers, Food Service Providers, Food Manufacturers) and by Geography (North America, South America, Europe, Asia Pacific, MEA)
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Key takeaways from the Vegan Food market report:
– Detailed consideration of Vegan Food market-particular drivers, Trends, constraints, Restraints, Opportunities, and major micro markets.
– Comprehensive valuation of all prospects and threats in the
– In-depth study of industry strategies for growth of the Vegan Food market-leading players.
– Vegan Food market latest innovations and major procedures.
– Favourable dip inside Vigorous high-tech and market latest trends remarkable the Market.
– Conclusive study about the growth conspiracy of Vegan Food market for forthcoming years.
Major questions answered:
- What are influencing factors driving the demand for Vegan Food near future?
- What is the impact analysis of various factors in the Global Vegan Food market growth?
- What are the recent trends in the regional market and how successful they are?
- How feasible is Vegan Food market for long-term investment?
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Major highlights from Table of Contents:
Vegan Food Market Study Coverage:
- It includes major manufacturers, emerging player's growth story, and major business segments of Global Vegan Food Market Size & Growth Outlook 2023-2028 market, years considered, and research objectives. Additionally, segmentation on the basis of the type of product, application, and technology.
- Global Vegan Food Market Size & Growth Outlook 2023-2028 Market Executive Summary: It gives a summary of overall studies, growth rate, available market, competitive landscape, market drivers, trends, and issues, and macroscopic indicators.
- Vegan Food Market Production by Region Vegan Food Market Profile of Manufacturers-players are studied on the basis of SWOT, their products, production, value, financials, and other vital factors.
Key Points Covered in Vegan Food Market Report:
- Vegan Food Overview, Definition and Classification Market drivers and barriers
- Vegan Food Market Competition by Manufacturers
- Vegan Food Capacity, Production, Revenue (Value) by Region (2024-2030)
- Vegan Food Supply (Production), Consumption, Export, Import by Region (2024-2030)
- Vegan Food Production, Revenue (Value), Price Trend by Type {Plant-Based Meat Alternatives, Plant-Based Dairy Alternatives, Plant-Based Bakery and Confectionery, Plant-Based Ready-to-Eat Meals, Plant-Based Beverages, Plant-Based Snacks and Desserts}
- Vegan Food Market Analysis by Application {Retail Consumers, Food Service Providers, Food Manufacturers}
- Vegan Food Manufacturers Profiles/Analysis Vegan Food Manufacturing Cost Analysis, Industrial/Supply Chain Analysis, Sourcing Strategy and Downstream Buyers, Marketing
- Strategy by Key Manufacturers/Players, Connected Distributors/Traders Standardization, Regulatory and collaborative initiatives, Industry road map and value chain Market Effect Factors Analysis.
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