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Global Vegan Food Market to Reach USD 43.8 Billion by 2028, Aided by the Rising Demand for Dairy Alternatives

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Vegan Food Market

Global Vegan Food Market 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; 2024-2032

Global Vegan Food Market Outlook

The global vegan food market reached a value of about USD 27.07 billion in 2023. 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 2024-2032 to reach a value of approximately USD 64.36 billion by 2032.

 

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.

 

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.

 

Vegan Food Market by Segments

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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.

 

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.

 

Vegan Food Market by Region

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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 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Product
  • Distribution Channel
  • Region
Breakup by Product
  • Dairy Alternatives
  • Meat Substitutes
  • Egg Alternative
  • Vegan Bakery
  • Confectionery
  • Plant-Based Snacks
  • Others
Breakup by Distribution Channel
  • Supermarkets and Hypermarkets
  • Convenience Stores
  • Speciality Stores
  • Online
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT
  • Porter's Five Forces
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • 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

 

*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 (2018-2023) 
    8.3    Global Vegan Food Market Forecast (2024-2032)
    8.4    Global Vegan Food Market by Product 
        8.4.1    Dairy Alternatives
            8.4.1.1    Historical Trend (2018-2023) 
            8.4.1.2    Forecast Trend (2024-2032)
            8.4.1.3    Breakup by Dairy Alternative Type
                8.4.1.3.1    Milk
                8.4.1.3.2    Cheese
                8.4.1.3.3    Yoghurt
                8.4.1.3.4    Dessert
                8.4.1.3.5    Others
        8.4.2    Meat Substitutes
            8.4.2.1    Historical Trend (2018-2023) 
            8.4.2.2    Forecast Trend (2024-2032)
            8.4.2.3    Breakup by Meat Substitute Type
                8.4.2.3.1    Tofu
                8.4.2.3.2    Textured Vegetable Protein (TVP)
                8.4.2.3.3    Seiten
                8.4.2.3.4    Quorn
                8.4.2.3.5    Others
        8.4.3    Egg Alternative
            8.4.3.1    Historical Trend (2018-2023) 
            8.4.3.2    Forecast Trend (2024-2032)
        8.4.4    Vegan Bakery
            8.4.4.1    Historical Trend (2018-2023) 
            8.4.4.2    Forecast Trend (2024-2032)
        8.4.5    Confectionery
            8.4.5.1    Historical Trend (2018-2023) 
            8.4.5.2    Forecast Trend (2024-2032)
        8.4.6    Plant-Based Snacks
            8.4.6.1    Historical Trend (2018-2023) 
            8.4.6.2    Forecast Trend (2024-2032)
        8.4.7    Others
    8.5    Global Vegan Food Market by Distribution Channel
        8.5.1    Supermarkets and Hypermarkets
            8.5.1.1    Historical Trend (2018-2023) 
            8.5.1.2    Forecast Trend (2024-2032)
        8.5.2    Convenience Stores
            8.5.2.1    Historical Trend (2018-2023) 
            8.5.2.2    Forecast Trend (2024-2032)
        8.5.3    Speciality Stores
            8.5.3.1    Historical Trend (2018-2023) 
            8.5.3.2    Forecast Trend (2024-2032)
        8.5.4    Online
            8.5.4.1    Historical Trend (2018-2023) 
            8.5.4.2    Forecast Trend (2024-2032)
    8.6    Global Vegan Food Market by Region
        8.6.1    North America
            8.6.1.1    Historical Trend (2018-2023) 
            8.6.1.2    Forecast Trend (2024-2032)
        8.6.2    Europe
            8.6.2.1    Historical Trend (2018-2023) 
            8.6.2.2    Forecast Trend (2024-2032)
        8.6.3    Asia Pacific
            8.6.3.1    Historical Trend (2018-2023) 
            8.6.3.2    Forecast Trend (2024-2032)
        8.6.4    Latin America
            8.6.4.1    Historical Trend (2018-2023) 
            8.6.4.2    Forecast Trend (2024-2032)
        8.6.5    Middle East and Africa
            8.6.5.1    Historical Trend (2018-2023) 
            8.6.5.2    Forecast Trend (2024-2032)
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    Historical Trend (2018-2023) 
            9.3.1.2    Forecast Trend (2024-2032)
        9.3.2    Canada
            9.3.2.1    Historical Trend (2018-2023) 
            9.3.2.2    Forecast Trend (2024-2032)
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    Historical Trend (2018-2023) 
            10.3.1.2    Forecast Trend (2024-2032)
        10.3.2    Germany
            10.3.2.1    Historical Trend (2018-2023) 
            10.3.2.2    Forecast Trend (2024-2032)
        10.3.3    France
            10.3.3.1    Historical Trend (2018-2023) 
            10.3.3.2    Forecast Trend (2024-2032)
        10.3.4    Italy
            10.3.4.1    Historical Trend (2018-2023) 
            10.3.4.2    Forecast Trend (2024-2032)
        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    Historical Trend (2018-2023) 
            11.3.1.2    Forecast Trend (2024-2032)
        11.3.2    Japan
            11.3.2.1    Historical Trend (2018-2023) 
            11.3.2.2    Forecast Trend (2024-2032)
        11.3.3    India
            11.3.3.1    Historical Trend (2018-2023) 
            11.3.3.2    Forecast Trend (2024-2032)
        11.3.4    ASEAN
            11.3.4.1    Historical Trend (2018-2023) 
            11.3.4.2    Forecast Trend (2024-2032)
        11.3.5    South Korea
            11.3.5.1    Historical Trend (2018-2023) 
            11.3.5.2    Forecast Trend (2024-2032)
        11.3.6    Australia
            11.3.6.1    Historical Trend (2018-2023) 
            11.3.6.2    Forecast Trend (2024-2032)
        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    Historical Trend (2018-2023) 
            12.3.1.2    Forecast Trend (2024-2032)
        12.3.2    Argentina
            12.3.2.1    Historical Trend (2018-2023) 
            12.3.2.2    Forecast Trend (2024-2032)
        12.3.3    Mexico
            12.3.3.1    Historical Trend (2018-2023) 
            12.3.3.2    Forecast Trend (2024-2032)
        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    Historical Trend (2018-2023) 
            13.3.1.2    Forecast Trend (2024-2032)
        13.3.2    United Arab Emirates
            13.3.2.1    Historical Trend (2018-2023) 
            13.3.2.2    Forecast Trend (2024-2032)
        13.3.3    Nigeria
            13.3.3.1    Historical Trend (2018-2023) 
            13.3.3.2    Forecast Trend (2024-2032)
        13.3.4    South Africa
            13.3.4.1    Historical Trend (2018-2023) 
            13.3.4.2    Forecast Trend (2024-2032)
        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 2032
2.    Global Vegan Food Historical Market: Breakup by Product (USD Million), 2018-2023
3.    Global Vegan Food Market Forecast: Breakup by Product (USD Million), 2024-2032
4.    Global Vegan Food Historical Market: Breakup by Distribution Channel (USD Million), 2018-2023
5.    Global Vegan Food Market Forecast: Breakup by Distribution Channel (USD Million), 2024-2032
6.    Global Vegan Food Historical Market: Breakup by Region (USD Million), 2018-2023
7.    Global Vegan Food Market Forecast: Breakup by Region (USD Million), 2024-2032
8.    North America Vegan Food Historical Market: Breakup by Country (USD Million), 2018-2023
9.    North America Vegan Food Market Forecast: Breakup by Country (USD Million), 2024-2032
10.    Europe Vegan Food Historical Market: Breakup by Country (USD Million), 2018-2023
11.    Europe Vegan Food Market Forecast: Breakup by Country (USD Million), 2024-2032
12.    Asia Pacific Vegan Food Historical Market: Breakup by Country (USD Million), 2018-2023
13.    Asia Pacific Vegan Food Market Forecast: Breakup by Country (USD Million), 2024-2032
14.    Latin America Vegan Food Historical Market: Breakup by Country (USD Million), 2018-2023
15.    Latin America Vegan Food Market Forecast: Breakup by Country (USD Million), 2024-2032
16.    Middle East and Africa Vegan Food Historical Market: Breakup by Country (USD Million), 2018-2023
17.    Middle East and Africa Vegan Food Market Forecast: Breakup by Country (USD Million), 2024-2032
18.    Global Vegan Food Market Structure

Key Questions Answered in the Report

What was the global vegan food market size in 2023?

In 2023, the global vegan food market attained a value of nearly USD 27.07 billion.

What is the growth rate of the market?

The market is projected to grow at a CAGR of 10.1% between 2024 and 2032.

What is the forecast outlook of the market for 2024-2032?

The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about USD 64.36 billion by 2032.

What are the major market drivers?

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.

What are the key 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 market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

What are the leading products in the market?

The leading products in the market 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 and hypermarkets, convenience stores, speciality stores, and online, are the major distribution channels in the market.

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

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 27.07 billion in 2023, 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 2024-2032, growing at a CAGR of 10.1%. The market is projected to reach USD 64.36 billion by 2032.

 

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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