Vegan Food Market:
Growth opportunities in the Vegan Food Market look promising over the next six years. This is mainly due to the fuelling concerns about the adverse impact of animal killing on the environment and soaring concerns towards animal cruelty.
Vegan Food Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
Several notable drivers contributing to the growth of the global vegan food market include the rising consciousness of individuals towards a healthier lifestyle, augmenting apprehension towards cruelty to animals, and the increasing incidences of obesity throughout the world. Also, the food products offer exceptional health advantages, including lower risk of heart attack, diabetes, and high blood pressure, which further strengthens the vegan food market size. Moreover, the escalating inclination towards gluten-free and vegetarian products, along with easy accessibility of a wide variety of plant-based meat and dairy products, is stimulating the market growth.
Additionally, the increasing handiness of information on social media platforms, the internet, and celebrity influencers regarding the health benefits of these products will persuade consumers to choose vegan products. The mounting agitation about the harmful effects of animal killing and the environment and the spread of destructive diseases, including Covid-19, SARS, and swine flu, will impel market growth. However, the surging market of cultured meat, inflated prices of these products, and allergy problems concerned with vegan items such as soybean, tree nuts, wheat, and pea protein will hinder the market growth.
Material Type Segment Drivers
Based on the product type, the dairy substitutes are predicted to expand at a higher CAGR over the forecast period. This is mainly due to a large number of lactose-intolerant populations. In addition to it, the easy attainability of a broad range of vegan dairy products, including milk, dessert, ice creams, yogurt, cheese, and snacks, bolstering the market growth.
Vegan Food Market’s leading Manufacturers:
- The WhiteWave Foods Company
- Earth’s Own Food Company
- Eden Foods
- Beyond Meat
- Cedar Lake Foods
- Tofurky
- Make My Day Food Inc.
- Atlantic Natural Foods, Inc.
- Annie’s Homegrown
- Earth Balance
- Amy’s Kitchen
- Miyoko’s Creamery
- Kite Hill
- Plamil Foods Ltd.
Vegan Food Market Segmentation:
Segmentation by Product Type
- Dairy Substitutes
- Cheese
- Ice Cream
- Milk
- Yogurt
- Others
- Meat Substitutes
- Tofu
- Tempeh
- Seiten
- TVF
- Quorn
- Others
- Others
Segmentation by Distribution Channel
- Grocery Stores
- Convenience Stores
- Speciality Stores
- Supermarkets/Hypermarkets
- Online Platforms
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
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