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Global Vegan Food Market: By Product Type: Dairy Alternatives, Meat Substitutes, Egg Alternative, Vegan Bakery, Confectionery, Plant-Based Snacks, Others; By Distribution Channel; Regional Analysis; Historical Market and Forecast (2018-2028); Market Dynamics; Competitive Landscape; Industry Events and Developments
Global Vegan Food Market Outlook
The global vegan food market reached a value of about USD 15.4 billion in 2020. 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 9% in the forecast period of 2023-2028 to reach a value of approximately USD 26.1 billion by 2026.
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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 types into milk, cheese, yoghurt, and dessert, among others. Meat substitutes, on the other hand, are further divided on the basis of types into tofu, TVP, seiten, and quorn, among others.
Based on the distribution channel, the industry is being segmented into:
- Supermarkets/Hypermarkets
- Convenience Stores
- Specialty Stores
- Online
- Others
The regional markets for the product 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
- The Archer Daniels Midland Company
- Daiya Foods Inc.
- Ripple Foods Inc.
- Impossible Foods Inc.
- Eat Just, Inc.
- Beyond Meat, Inc.
- Amy's Kitchen
- Tofutti Brands Inc.
- Earth’s Own Food Company Inc.
- 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.
| 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- Product Type, Distribution Channel, Region |
| Breakup by Product Type | Dairy Alternatives, Meat Substitutes, Egg Alternative, Vegan Bakery, Confectionery, Plant-Based Snacks, Others |
| Breakup by Distribution Channel | Supermarkets/Hypermarkets, Convenience Stores, Specialty Stores, Online, Others |
| Breakup by Region | North America, Latin America, Europe, Middle East and Africa, Asia Pacific |
| Market Dynamics | SWOT, Porter's Five Forces, Key Indicators for Price and Demand |
| Competitive Landscape | Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications |
| Companies Covered | Danone S.A, The Archer Daniels Midland Company, Daiya Foods Inc., Ripple Foods Inc., Impossible Foods Inc., Eat Just, Inc., Beyond Meat, Inc., Amy's Kitchen, Tofutti Brands Inc., Earth’s Own Food Company Inc., others |
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*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 Snapshot
6.1 Global
6.2 Regional
7 Industry Opportunities and Challenges
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 Type
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 of Type
8.4.1.4.1 Milk
8.4.1.4.1.1 Market Share
8.4.1.4.1.2 Historical Trend (2018-2022)
8.4.1.4.1.3 Forecast Trend (2023-2028)
8.4.1.4.2 Cheese
8.4.1.4.2.1 Market Share
8.4.1.4.2.2 Historical Trend (2018-2022)
8.4.1.4.2.3 Forecast Trend (2023-2028)
8.4.1.4.3 Yoghurt
8.4.1.4.3.1 Market Share
8.4.1.4.3.2 Historical Trend (2018-2022)
8.4.1.4.3.3 Forecast Trend (2023-2028)
8.4.1.4.4 Dessert
8.4.1.4.4.1 Market Share
8.4.1.4.4.2 Historical Trend (2018-2022)
8.4.1.4.4.3 Forecast Trend (2023-2028)
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 of Type
8.4.2.4.1 Tofu
8.4.2.4.1.1 Market Share
8.4.2.4.1.2 Historical Trend (2018-2022)
8.4.2.4.1.3 Forecast Trend (2023-2028)
8.4.2.4.2 TVP
8.4.2.4.2.1 Market Share
8.4.2.4.2.2 Historical Trend (2018-2022)
8.4.2.4.2.3 Forecast Trend (2023-2028)
8.4.2.4.3 Seiten
8.4.2.4.3.1 Market Share
8.4.2.4.3.2 Historical Trend (2018-2022)
8.4.2.4.3.3 Forecast Trend (2023-2028)
8.4.2.4.4 Quorn
8.4.2.4.4.1 Market Share
8.4.2.4.4.2 Historical Trend (2018-2022)
8.4.2.4.4.3 Forecast Trend (2023-2028)
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/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 Specialty 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)
8.5.5 Others
8.6 Global Vegan Food Market by Region
8.6.1 Market Share
8.6.1.1 North America
8.6.1.2 Europe
8.6.1.3 Asia Pacific
8.6.1.4 Latin America
8.6.1.5 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.1.3 Breakup by Country
9.1.3.1 United States of America
9.1.3.2 Canada
9.2 Europe
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
9.2.3 Breakup by Country
9.2.3.1 United Kingdom
9.2.3.2 Germany
9.2.3.3 France
9.2.3.4 Italy
9.2.3.5 Others
9.3 Asia Pacific
9.3.1 Historical Trend (2018-2022)
9.3.2 Forecast Trend (2023-2028)
9.3.3 Breakup by Country
9.3.3.1 China
9.3.3.2 Japan
9.3.3.3 India
9.3.3.4 ASEAN
9.3.3.5 Australia
9.3.3.6 Others
9.4 Latin America
9.4.1 Historical Trend (2018-2022)
9.4.2 Forecast Trend (2023-2028)
9.4.3 Breakup by Country
9.4.3.1 Brazil
9.4.3.2 Argentina
9.4.3.3 Mexico
9.4.3.4 Others
9.5 Middle East and Africa
9.5.1 Historical Trend (2018-2022)
9.5.2 Forecast Trend (2023-2028)
9.5.3 Breakup by Country
9.5.3.1 Saudi Arabia
9.5.3.2 United Arab Emirates
9.5.3.3 Nigeria
9.5.3.4 South Africa
9.5.3.5 Others
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Value Chain Analysis
12 Competitive Landscape
12.1 Market Structure
12.2 Key Players
12.3 Company Profiles
12.3.1 Amy's Kitchen
12.3.1.1 Company Overview
12.3.1.2 Product Portfolio
12.3.1.3 Demographic Reach and Achievements
12.3.1.4 Certifications
12.3.2 Danone S.A
12.3.2.1 Company Overview
12.3.2.2 Product Portfolio
12.3.2.3 Demographic Reach and Achievements
12.3.2.4 Certifications
12.3.3 The Archer Daniels Midland Company
12.3.3.1 Company Overview
12.3.3.2 Product Portfolio
12.3.3.3 Demographic Reach and Achievements
12.3.3.4 Certifications
12.3.4 Daiya Foods Inc.
12.3.4.1 Company Overview
12.3.4.2 Product Portfolio
12.3.4.3 Demographic Reach and Achievements
12.3.4.4 Certifications
12.3.5 Tofutti Brands Inc.
12.3.5.1 Company Overview
12.3.5.2 Product Portfolio
12.3.5.3 Demographic Reach and Achievements
12.3.5.4 Certifications
12.3.6 Ripple Foods Inc.
12.3.6.1 Company Overview
12.3.6.2 Product Portfolio
12.3.6.3 Demographic Reach and Achievements
12.3.6.4 Certifications
12.3.7 Earth’s Own Food Company Inc.
12.3.7.1 Company Overview
12.3.7.2 Product Portfolio
12.3.7.3 Demographic Reach and Achievements
12.3.7.4 Certifications
12.3.8 Others
13 Industry Events and Developments
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 Type (USD Billion), 2018-2022
3. Global Vegan Food Market Forecast: Breakup by Product Type (USD Billion), 2023-2028
4. Global Vegan Food Historical Market: Breakup by Distribution Channel (USD Billion), 2018-2022
5. Global Vegan Food Market Forecast: Breakup by Distribution Channel (USD Billion), 2023-2028
6. Global Vegan Food Historical Market: Breakup by Region (USD Billion), 2018-2022
7. Global Vegan Food Market Forecast: Breakup by Region (USD Billion), 2023-2028
8. North America Vegan Food Historical Market: Breakup by Country (USD Billion), 2018-2022
9. North America Vegan Food Market Forecast: Breakup by Country (USD Billion), 2023-2028
10. Europe Vegan Food Historical Market: Breakup by Country (USD Billion), 2018-2022
11. Europe Vegan Food Market Forecast: Breakup by Country (USD Billion), 2023-2028
12. Asia Pacific Vegan Food Historical Market: Breakup by Country (USD Billion), 2018-2022
13. Asia Pacific Vegan Food Market Forecast: Breakup by Country (USD Billion), 2023-2028
14. Latin America Vegan Food Historical Market: Breakup by Country (USD Billion), 2018-2022
15. Latin America Vegan Food Market Forecast: Breakup by Country (USD Billion), 2023-2028
16. Middle East and Africa Vegan Food Historical Market: Breakup by Country (USD Billion), 2018-2022
17. Middle East and Africa Vegan Food Market Forecast: Breakup by Country (USD Billion), 2023-2028
18. Global Vegan Food Market Structure
Key Questions Answered in the Report
In 2020, the global vegan food market attained a value of nearly USD 15.4 billion.
The market is projected to grow at a CAGR of 9% between 2021 and 2026.
The market is estimated to witness a healthy growth in the forecast period of 2023-2028 to reach about USD 26.1 billion by 2026.
The major drivers of the industry, 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 industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The leading product types in the industry are dairy alternatives, meat substitutes, egg alternative, vegan bakery, confectionery, and plant-based snacks, among others.
Supermarkets/hypermarkets, convenience stores, specialty stores, and online, among others, are the major distribution channels in the market.
The major players in the industry are Danone S.A, The Archer Daniels Midland Company, Daiya Foods Inc., Ripple Foods Inc., Impossible Foods Inc., Eat Just, Inc., Beyond Meat, Inc., Amy's Kitchen, Tofutti Brands Inc., and Earth’s Own Food Company Inc., among others.
Analyst Review
The global vegan food market attained a value of USD 15.4 billion in 2020, 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 9%. The market is projected to reach USD 26.1 billion by 2026.
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, among others. 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, The Archer Daniels Midland Company, Daiya Foods Inc., Ripple Foods Inc., Impossible Foods Inc., Eat Just, Inc., Beyond Meat, Inc., Amy's Kitchen, Tofutti Brands Inc., and Earth’s Own Food Company Inc., 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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