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Global Vegan Food Market Share, Size, Growth, Analysis, Forecast: By Product: Dairy Alternatives, Meat Substitutes, Egg Alternative, Vegan Bakery, Confectionery, Plant-Based Snacks, Others; By Distribution Channel: Supermarkets and Hypermarkets, Convenience Stores, Speciality Stores, Online; Regional Analysis; Competitive Landscape; 2023-2028
Global Vegan Food Market Outlook
The global vegan food market reached a value of about USD 24.59 billion in 2022. The market for vegan food is being driven by the rising awareness of the health benefits of these products, such as reducing the risk of heart diseases, cancer, and other diseases. The market is further expected to grow at a CAGR of 10.1% in the forecast period of 2023-2028 to reach a value of approximately USD 43.8 billion by 2028.
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North American and European Regions to Significantly Contribute to the Vegan Food Demand
North America and Europe are some of the leading regions for the industry. The regional markets are being driven by the rising concerns about animal cruelty in the food industry and the negative impacts of meat and dairy consumption on the environment. The growing population of lactose-intolerant consumers is expected to further aid the market in North America and Europe as these consumers are increasingly seeking out alternatives to dairy products. In the coming years, with the rising awareness of animal rights, growing disposable incomes, and changing lifestyles, the Asia Pacific region is expected to present lucrative growth opportunities to the leading players in the industry.
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Vegan Food: Market Segmentation
Vegan food excludes the consumption of eggs, meat, dairy products, and all other animal-derived ingredients. Those who follow vegan food and diet, are known as vegans. Vegans also refrain from eating food products that are processed using animal products like refined white sugar and some wines.
Based on product type, the market is divided into:
- Dairy Alternatives
- Meat Substitutes
- Egg Alternative
- Vegan Bakery
- Confectionery
- Plant-Based Snacks
- Others
Dairy alternatives are further divided on the basis of type into milk, cheese, yoghurt, and dessert, among others. Meat substitutes, on the other hand, are further divided on the basis of type into tofu, textured vegetable protein (TVP), seiten, and quorn, among others.
Based on the distribution channel, the industry is being segmented into:
- Supermarkets and Hypermarkets
- Convenience Stores
- Speciality Stores
- Online
The regional markets for vegan food include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Rising Awareness of Animal Cruelty is Driving the Vegan Food Market Growth
The global vegan food market is bolstered by the growing awareness regarding the animal health as well as cruelty in the food industry, which has led to a significant shift towards plant-based food products and away from animal based products. The growing popularity of the vegan diet and the emerging trend of following veganism has resulted in an accelerated demand for vegan food. For instance, the rising adoption of this diet by major celebrities has enhanced the market growth as more and more fans are starting to adopt this diet.
In the West, a rising proportion of population has stopped consuming meat, as a result embracing alternative food, such as vegan products. Further, the rising awareness of the benefits of consuming these products has played a key role in the adoption of vegan food, thereby, facilitating the market growth. In the coming years, the rising adoption of a vegan diet in emerging regions and product diversification are expected to propel the growth of the market forward.
Key Industry Players in the Global Vegan Food Market
The report gives a detailed analysis of the following key players in the global vegan food market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Danone S.A.
- Daiya Foods Inc.
- Ripple Foods PBC
- Impossible Foods Inc.
- Beyond Meat, Inc.
- Amy's Kitchen, Inc.
- Tofutti Brands, Inc.
- Earth’s Own Food Company Inc.
- Conagra, Inc.
- The Hain Celestial Group, Inc.
- Schouten Europe B.V.
- Greenleaf Foods, SPC
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Product |
|
| Breakup by Distribution Channel |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Vegan Food Market Analysis
8.1 Key Industry Highlights
8.2 Global Vegan Food Historical Market (2018-2022)
8.3 Global Vegan Food Market Forecast (2023-2028)
8.4 Global Vegan Food Market by Product
8.4.1 Dairy Alternatives
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2022)
8.4.1.3 Forecast Trend (2023-2028)
8.4.1.4 Breakup by Dairy Alternative Type
8.4.1.4.1 Milk
8.4.1.4.2 Cheese
8.4.1.4.3 Yoghurt
8.4.1.4.4 Dessert
8.4.1.4.5 Others
8.4.2 Meat Substitutes
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2022)
8.4.2.3 Forecast Trend (2023-2028)
8.4.2.4 Breakup by Meat Substitute Type
8.4.2.4.1 Tofu
8.4.2.4.2 Textured Vegetable Protein (TVP)
8.4.2.4.3 Seiten
8.4.2.4.4 Quorn
8.4.2.4.5 Others
8.4.3 Egg Alternative
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2018-2022)
8.4.3.3 Forecast Trend (2023-2028)
8.4.4 Vegan Bakery
8.4.4.1 Market Share
8.4.4.2 Historical Trend (2018-2022)
8.4.4.3 Forecast Trend (2023-2028)
8.4.5 Confectionery
8.4.5.1 Market Share
8.4.5.2 Historical Trend (2018-2022)
8.4.5.3 Forecast Trend (2023-2028)
8.4.6 Plant-Based Snacks
8.4.6.1 Market Share
8.4.6.2 Historical Trend (2018-2022)
8.4.6.3 Forecast Trend (2023-2028)
8.4.7 Others
8.5 Global Vegan Food Market by Distribution Channel
8.5.1 Supermarkets and Hypermarkets
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2022)
8.5.1.3 Forecast Trend (2023-2028)
8.5.2 Convenience Stores
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2022)
8.5.2.3 Forecast Trend (2023-2028)
8.5.3 Speciality Stores
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2018-2022)
8.5.3.3 Forecast Trend (2023-2028)
8.5.4 Online
8.5.4.1 Market Share
8.5.4.2 Historical Trend (2018-2022)
8.5.4.3 Forecast Trend (2023-2028)
8.6 Global Vegan Food Market by Region
8.6.1 North America
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2018-2022)
8.6.1.3 Forecast Trend (2023-2028)
8.6.2 Europe
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2022)
8.6.2.3 Forecast Trend (2023-2028)
8.6.3 Asia Pacific
8.6.3.1 Market Share
8.6.3.2 Historical Trend (2018-2022)
8.6.3.3 Forecast Trend (2023-2028)
8.6.4 Latin America
8.6.4.1 Market Share
8.6.4.2 Historical Trend (2018-2022)
8.6.4.3 Forecast Trend (2023-2028)
8.6.5 Middle East and Africa
8.6.5.1 Market Share
8.6.5.2 Historical Trend (2018-2022)
8.6.5.3 Forecast Trend (2023-2028)
9 North America Vegan Food Market Analysis
9.1 Market by Product
9.2 Market by Distribution Channel
9.3 Market by Country
9.3.1 United States of America
9.3.1.1 Market Share
9.3.1.2 Historical Trend (2018-2022)
9.3.1.3 Forecast Trend (2023-2028)
9.3.2 Canada
9.3.2.1 Market Share
9.3.2.2 Historical Trend (2018-2022)
9.3.2.3 Forecast Trend (2023-2028)
10 Europe Vegan Food Market Analysis
10.1 Market by Product
10.2 Market by Distribution Channel
10.3 Market by Country
10.3.1 United Kingdom
10.3.1.1 Market Share
10.3.1.2 Historical Trend (2018-2022)
10.3.1.3 Forecast Trend (2023-2028)
10.3.2 Germany
10.3.2.1 Market Share
10.3.2.2 Historical Trend (2018-2022)
10.3.2.3 Forecast Trend (2023-2028)
10.3.3 France
10.3.3.1 Market Share
10.3.3.2 Historical Trend (2018-2022)
10.3.3.3 Forecast Trend (2023-2028)
10.3.4 Italy
10.3.4.1 Market Share
10.3.4.2 Historical Trend (2018-2022)
10.3.4.3 Forecast Trend (2023-2028)
10.3.5 Others
11 Asia Pacific Vegan Food Market Analysis
11.1 Market by Product
11.2 Market by Distribution Channel
11.3 Market by Country
11.3.1 China
11.3.1.1 Market Share
11.3.1.2 Historical Trend (2018-2022)
11.3.1.3 Forecast Trend (2023-2028)
11.3.2 Japan
11.3.2.1 Market Share
11.3.2.2 Historical Trend (2018-2022)
11.3.2.3 Forecast Trend (2023-2028)
11.3.3 India
11.3.3.1 Market Share
11.3.3.2 Historical Trend (2018-2022)
11.3.3.3 Forecast Trend (2023-2028)
11.3.4 ASEAN
11.3.4.1 Market Share
11.3.4.2 Historical Trend (2018-2022)
11.3.4.3 Forecast Trend (2023-2028)
11.3.5 South Korea
11.3.5.1 Market Share
11.3.5.2 Historical Trend (2018-2022)
11.3.5.3 Forecast Trend (2023-2028)
11.3.6 Australia
11.3.6.1 Market Share
11.3.6.2 Historical Trend (2018-2022)
11.3.6.3 Forecast Trend (2023-2028)
11.3.7 Others
12 Latin America Vegan Food Market Analysis
12.1 Market by Product
12.2 Market by Distribution Channel
12.3 Market by Country
12.3.1 Brazil
12.3.1.1 Market Share
12.3.1.2 Historical Trend (2018-2022)
12.3.1.3 Forecast Trend (2023-2028)
12.3.2 Argentina
12.3.2.1 Market Share
12.3.2.2 Historical Trend (2018-2022)
12.3.2.3 Forecast Trend (2023-2028)
12.3.3 Mexico
12.3.3.1 Market Share
12.3.3.2 Historical Trend (2018-2022)
12.3.3.3 Forecast Trend (2023-2028)
12.3.4 Others
13 Middle East and Africa Vegan Food Market Analysis
13.1 Market by Product
13.2 Market by Distribution Channel
13.3 Market by Country
13.3.1 Saudi Arabia
13.3.1.1 Market Share
13.3.1.2 Historical Trend (2018-2022)
13.3.1.3 Forecast Trend (2023-2028)
13.3.2 United Arab Emirates
13.3.2.1 Market Share
13.3.2.2 Historical Trend (2018-2022)
13.3.2.3 Forecast Trend (2023-2028)
13.3.3 Nigeria
13.3.3.1 Market Share
13.3.3.2 Historical Trend (2018-2022)
13.3.3.3 Forecast Trend (2023-2028)
13.3.4 South Africa
13.3.4.1 Market Share
13.3.4.2 Historical Trend (2018-2022)
13.3.4.3 Forecast Trend (2023-2028)
13.3.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 Danone S.A.
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 Daiya Foods Inc.
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 Ripple Foods PBC
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 Impossible Foods Inc.
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 Beyond Meat, Inc.
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 Amy's Kitchen, Inc.
16.2.6.1 Company Overview
16.2.6.2 Product Portfolio
16.2.6.3 Demographic Reach and Achievements
16.2.6.4 Certifications
16.2.7 Tofutti Brands, Inc.
16.2.7.1 Company Overview
16.2.7.2 Product Portfolio
16.2.7.3 Demographic Reach and Achievements
16.2.7.4 Certifications
16.2.8 Earth’s Own Food Company Inc.
16.2.8.1 Company Overview
16.2.8.2 Product Portfolio
16.2.8.3 Demographic Reach and Achievements
16.2.8.4 Certifications
16.2.9 Conagra, Inc.
16.2.9.1 Company Overview
16.2.9.2 Product Portfolio
16.2.9.3 Demographic Reach and Achievements
16.2.9.4 Certifications
16.2.10 The Hain Celestial Group, Inc.
16.2.10.1 Company Overview
16.2.10.2 Product Portfolio
16.2.10.3 Demographic Reach and Achievements
16.2.10.4 Certifications
16.2.11 Schouten Europe B.V.
16.2.11.1 Company Overview
16.2.11.2 Product Portfolio
16.2.11.3 Demographic Reach and Achievements
16.2.11.4 Certifications
16.2.12 Greenleaf Foods, SPC
16.2.12.1 Company Overview
16.2.12.2 Product Portfolio
16.2.12.3 Demographic Reach and Achievements
16.2.12.4 Certifications
16.2.13 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Vegan Food Market: Key Industry Highlights, 2018 and 2028
2. Global Vegan Food Historical Market: Breakup by Product (USD Million), 2018-2022
3. Global Vegan Food Market Forecast: Breakup by Product (USD Million), 2023-2028
4. Global Vegan Food Historical Market: Breakup by Distribution Channel (USD Million), 2018-2022
5. Global Vegan Food Market Forecast: Breakup by Distribution Channel (USD Million), 2023-2028
6. Global Vegan Food Historical Market: Breakup by Region (USD Million), 2018-2022
7. Global Vegan Food Market Forecast: Breakup by Region (USD Million), 2023-2028
8. North America Vegan Food Historical Market: Breakup by Country (USD Million), 2018-2022
9. North America Vegan Food Market Forecast: Breakup by Country (USD Million), 2023-2028
10. Europe Vegan Food Historical Market: Breakup by Country (USD Million), 2018-2022
11. Europe Vegan Food Market Forecast: Breakup by Country (USD Million), 2023-2028
12. Asia Pacific Vegan Food Historical Market: Breakup by Country (USD Million), 2018-2022
13. Asia Pacific Vegan Food Market Forecast: Breakup by Country (USD Million), 2023-2028
14. Latin America Vegan Food Historical Market: Breakup by Country (USD Million), 2018-2022
15. Latin America Vegan Food Market Forecast: Breakup by Country (USD Million), 2023-2028
16. Middle East and Africa Vegan Food Historical Market: Breakup by Country (USD Million), 2018-2022
17. Middle East and Africa Vegan Food Market Forecast: Breakup by Country (USD Million), 2023-2028
18. Global Vegan Food Market Structure
Key Questions Answered in the Report
In 2022, the global vegan food market attained a value of nearly USD 24.59 billion.
The market is projected to grow at a CAGR of 10.1% between 2023 and 2028.
The market is estimated to witness a healthy growth in the forecast period of 2023-2028 to reach about USD 43.8 billion by 2028.
The major drivers of the market, such as rising disposable incomes, changing lifestyles, growing health awareness, rising population of lactose-intolerant consumers, and growing adoption of vegan diets, are expected to aid the market growth.
The key market trend guiding the growth of the vegan food market includes the rising awareness of animal rights and the environmental impact of the meat industry.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The leading products in the market are dairy alternatives, meat substitutes, egg alternative, vegan bakery, confectionery, and plant-based snacks, among others.
Supermarkets and hypermarkets, convenience stores, speciality stores, and online, are the major distribution channels in the market.
The major players in the market are Danone S.A., Daiya Foods Inc., Ripple Foods PBC, Impossible Foods Inc., Beyond Meat, Inc., Amy's Kitchen, Inc., Tofutti Brands, Inc., Earth’s Own Food Company Inc., Conagra, Inc., The Hain Celestial Group, Inc., Schouten Europe B.V., and Greenleaf Foods, SPC, among others.
Analyst Review
The global vegan food market attained a value of USD 24.59 billion in 2022, driven by rising adoption of vegan diets across the globe. Aided by the rising product diversification, the market is expected to witness a further growth in the forecast period of 2023-2028, growing at a CAGR of 10.1%. The market is projected to reach USD 43.8 billion by 2028.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. By product type, the market is segmented into dairy alternatives, meat substitutes, egg alternative, vegan bakery, confectionery, and plant-based snacks, among others. On the basis of distribution channels, the industry is divided into supermarkets/hypermarkets, convenience stores, specialty stores, and online. The major regional markets for the product are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Danone S.A., Daiya Foods Inc., Ripple Foods PBC, Impossible Foods Inc., Beyond Meat, Inc., Amy's Kitchen, Inc., Tofutti Brands, Inc., Earth’s Own Food Company Inc., Conagra, Inc., The Hain Celestial Group, Inc., Schouten Europe B.V., and Greenleaf Foods, SPC, among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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