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Global Vegan Food Market to Reach USD 26.1 Billion by 2026, Aided by the Rising Demand for Dairy Alternatives

As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.

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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 (2016-2026); 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 2021-2026 to reach a value of approximately USD 26.1 billion by 2026.

 

Global Vegan Food Market

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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.

 

Global Vegan Food Market by Product Type

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Vegan Food: Industry Definition and 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.

 

Global Vegan Food Market by Region

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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 heath 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:

  • Amy's Kitchen
  • Danone S.A
  • The Archer Daniels Midland Company
  • Daiya Foods Inc.
  • Tofutti Brands Inc.
  • Ripple Foods Inc.
  • Earth’s Own Food Company Inc.
  • Others

The comprehensive EMR report provides an in-depth assessment of the industry based on the Porter's five forces model along with giving a SWOT analysis.

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 (2016-2020) 
    8.3    Global Vegan Food Market Forecast (2021-2026)
    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 (2016-2020)
            8.4.1.3    Forecast Trend (2021-2026)
            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 (2016-2020)
                    8.4.1.4.1.3    Forecast Trend (2021-2026)
                8.4.1.4.2    Cheese
                    8.4.1.4.2.1    Market Share
                    8.4.1.4.2.2    Historical Trend (2016-2020)
                    8.4.1.4.2.3    Forecast Trend (2021-2026)
                8.4.1.4.3    Yoghurt
                    8.4.1.4.3.1    Market Share
                    8.4.1.4.3.2    Historical Trend (2016-2020)
                    8.4.1.4.3.3    Forecast Trend (2021-2026)
                8.4.1.4.4    Dessert
                    8.4.1.4.4.1    Market Share
                    8.4.1.4.4.2    Historical Trend (2016-2020)
                    8.4.1.4.4.3    Forecast Trend (2021-2026)
                8.4.1.4.5    Others
        8.4.2    Meat Substitutes
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2016-2020)
            8.4.2.3    Forecast Trend (2021-2026)
            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 (2016-2020)
                    8.4.2.4.1.3    Forecast Trend (2021-2026)
                8.4.2.4.2    TVP
                    8.4.2.4.2.1    Market Share
                    8.4.2.4.2.2    Historical Trend (2016-2020)
                    8.4.2.4.2.3    Forecast Trend (2021-2026)
                8.4.2.4.3    Seiten
                    8.4.2.4.3.1    Market Share
                    8.4.2.4.3.2    Historical Trend (2016-2020)
                    8.4.2.4.3.3    Forecast Trend (2021-2026)
                8.4.2.4.4    Quorn
                    8.4.2.4.4.1    Market Share
                    8.4.2.4.4.2    Historical Trend (2016-2020)
                    8.4.2.4.4.3    Forecast Trend (2021-2026)
                8.4.2.4.5    Others
        8.4.3    Egg Alternative
            8.4.3.1    Market Share
            8.4.3.2    Historical Trend (2016-2020)
            8.4.3.3    Forecast Trend (2021-2026)
        8.4.4    Vegan Bakery
            8.4.4.1    Market Share
            8.4.4.2    Historical Trend (2016-2020)
            8.4.4.3    Forecast Trend (2021-2026)
        8.4.5    Confectionery
            8.4.5.1    Market Share
            8.4.5.2    Historical Trend (2016-2020)
            8.4.5.3    Forecast Trend (2021-2026)
        8.4.6    Plant-Based Snacks
            8.4.6.1    Market Share
            8.4.6.2    Historical Trend (2016-2020)
            8.4.6.3    Forecast Trend (2021-2026)
        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 (2016-2020)
            8.5.1.3    Forecast Trend (2021-2026)
        8.5.2    Convenience Stores
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2016-2020)
            8.5.2.3    Forecast Trend (2021-2026)
        8.5.3    Specialty Stores
            8.5.3.1    Market Share
            8.5.3.2    Historical Trend (2016-2020)
            8.5.3.3    Forecast Trend (2021-2026)
        8.5.4    Online
            8.5.4.1    Market Share
            8.5.4.2    Historical Trend (2016-2020)
            8.5.4.3    Forecast Trend (2021-2026)
        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 (2016-2020)
        9.1.2    Forecast Trend (2021-2026)
        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 (2016-2020)
        9.2.2    Forecast Trend (2021-2026)
        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 (2016-2020)
        9.3.2    Forecast Trend (2021-2026)
        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 (2016-2020)
        9.4.2    Forecast Trend (2021-2026)
        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 (2016-2020)
        9.5.2    Forecast Trend (2021-2026)
        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    EMR’s Key Indicators for Demand
    10.4    EMR’s 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 Figures and Tables

1.    Global Vegan Food Market: Key Industry Highlights, 2016 and 2026
2.    Global Vegan Food Historical Market: Breakup by Product Type (USD Billion), 2016-2020
3.    Global Vegan Food Market Forecast: Breakup by Product Type (USD Billion), 2021-2026
4.    Global Vegan Food Historical Market: Breakup by Distribution Channel (USD Billion), 2016-2020
5.    Global Vegan Food Market Forecast: Breakup by Distribution Channel (USD Billion), 2021-2026
6.    Global Vegan Food Historical Market: Breakup by Region (USD Billion), 2016-2020
7.    Global Vegan Food Market Forecast: Breakup by Region (USD Billion), 2021-2026
8.    North America Vegan Food Historical Market: Breakup by Country (USD Billion), 2016-2020
9.    North America Vegan Food Market Forecast: Breakup by Country (USD Billion), 2021-2026
10.    Europe Vegan Food Historical Market: Breakup by Country (USD Billion), 2016-2020
11.    Europe Vegan Food Market Forecast: Breakup by Country (USD Billion), 2021-2026
12.    Asia Pacific Vegan Food Historical Market: Breakup by Country (USD Billion), 2016-2020
13.    Asia Pacific Vegan Food Market Forecast: Breakup by Country (USD Billion), 2021-2026
14.    Latin America Vegan Food Historical Market: Breakup by Country (USD Billion), 2016-2020
15.    Latin America Vegan Food Market Forecast: Breakup by Country (USD Billion), 2021-2026
16.    Middle East and Africa Vegan Food Historical Market: Breakup by Country (USD Billion), 2016-2020
17.    Middle East and Africa Vegan Food Market Forecast: Breakup by Country (USD Billion), 2021-2026
18.    Global Vegan Food Market Structure

Key Questions Answered in the Report

What was the global vegan food market size in 2020?

In 2020, the global vegan food market attained a value of nearly USD 15.4 billion.

What is the growth rate of the market?

The market is projected to grow at a CAGR of 9% between 2021 and 2026.

What is the forecast outlook of the market for 2021-2026?

The market is estimated to witness a healthy growth in the forecast period of 2021-2026 to reach about USD 26.1 billion by 2026.

What are the major industry drivers?

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.

What are the key industry trends of the global vegan food market?

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.

What are the major regional markets of vegan food, according to the EMR report?

The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

What are the leading product types in the industry?

The leading product types in the industry are dairy alternatives, meat substitutes, egg alternative, vegan bakery, confectionery, and plant-based snacks, among others.

What are the major distribution channels of vegan food?

Supermarkets/hypermarkets, convenience stores, specialty stores, and online, among others, are the major distribution channels in the market.

Who are the key industry players, according to the report?

The major players in the industry are Amy's Kitchen, Danone S.A, The Archer Daniels Midland Company, Daiya Foods Inc., Tofutti Brands Inc., Ripple Foods 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 2021-2026, 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 Amy's Kitchen, Danone S.A, The Archer Daniels Midland Company, Daiya Foods Inc., Tofutti Brands Inc., Ripple Foods 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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