Vegan Food Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F Segmented By Product Type (Dairy Alternative, Meat Substitute, Vegan Bakery, Vegan Confectionery, Others (include Egg Alternative, Plant-Based Snacks etc.)), By Source (Wheat, Soy, Oats, Almond, Nuts, Others (include Pulses, Quinoa, Brown & Wild Rice, etc.)), By Distribution Channel (Hypermarkets/Superma
Published Date: October - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Consumer Goods and Retail | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationThe global vegan food market is anticipated to project robust growth in the forecast period on account of increasing awareness and popularity of plant-based products, and surging number of dietary greenhouse-gas emissions which is significantly contributing to the global warming. Therefore, the focus of growing awareness among the consumers for the significance of consuming vegan products is constantly on boost.
According to 2018 study, that was published in ElementaScience of the Anthropocene, the production of food grains is enough to sustain the 9.7 billion people that will inhabit the planet by the year 2050. According to the study, livestock consume approximately 34% of the world's crop yield. Humans only eat less than half of the cereals produced worldwide.
Wow, check this out! We're seeing a massive jump in people choosing vegan meals for lunch and dinner – like, a 46% increase between 2019 and 2020! And according to the Vegan Society, things are just getting bigger. In 2022, the Grocer reported that vegan food sales at Aldi went absolutely bonkers, up 500% that January compared to the year before. Aldi also saw a 250% jump in vegan sales in 2021 compared to 2020. They even expanded their vegan options by 50% for Veganuary because everyone wanted them! And get this – in 2021, the European Consumer Survey on Plant-based Foods, put out by ProVeg International, discovered that the UK is really embracing plant milk,
Due to the COVID-19 pandemic's effects in the first half of 2020, the market witnessed a significant growth to the vegan food market in comparison to the growth estimates for 2019.
Download Free Sample ReportGrowing Health Consciousness influencing shift towards Vegan Products
The market's really taking off! You see, there are so many more choices now, all designed to help with things like obesity and meet the needs of different age groups. Plus, everyone's going crazy for plant-based foods! Think about itAnimal products are usually way higher in fat than plant-based ones. So, it's no shock that research shows people who eat meat are about three times more likely to be obese than vegetarians, and a whopping nine times more likely than vegans. After all, vegetarian diets seem to be the only diets that actually work for losing weight and keeping it off long-term. One study even found that going vegan for just three months can lower your blood sugar and help you lose an average of 4.1 kg (9 lb)!
Innovating Offerings Aiding the Market Growth
One big reason the market's doing so well? Everyone's scrambling to launch new and exciting products! Take the meat substitute category, for example. Remember Veganuary 2022? It was a total boost for new vegan goodies! Meatless Farm, a UK-based vegan company, launched their plant-based chicken breast just in time. Their entrance into the white meat market with plant-based protein chicken breast really expanded the choices for vegan chicken lovers. And Heura, those Spanish alternative meat wizards, dropped vegan chorizo and sausage for Veganuary 2022 too – their first ever plant-based pig products!
Similarly, for the category of vegan
Rising Investment in Vegan Food Market Driving the Market Growth
Lots of businesses are spotting opportunities in the global vegan scene for their own countries and figuring out how to make the most of them locally. We're seeing from our data that nations like the United Kingdom, the United States, and Germany are really leading the way in making and eating vegan stuff, with some companies growing like crazy year after year. But it's not just the big players; there's a growing, but often unnoticed, vegan movement happening pretty much everywhere. Take Let's Plant Meat in Thailand, for example. They've been at the forefront of Thailand's blossoming plant-based industry since day one, creating vegan alternatives like burgers, mince, and katsu using ingredients they source right there in Thailand.
Market Segmentation
Okay, so when we talk about the vegan food world, we can break it down in a few ways. First, by what kind of product it isthink dairy-free alternatives, meat substitutes, yummy vegan baked goods, vegan confectionery, and other stuff like egg replacements and plant-based snacks. Then, we can look at what the food is made from – things like wheat, soy, oats, almonds, nuts, and other ingredients like pulses, quinoa, and different kinds of rice. Where you buy vegan food also matters, so we look at supermarkets and hypermarkets, specialty stores, convenience stores, online shops, and even direct sales. Finally, we can see how the market is split up across the globe, focusing on regions like North America, Europe, Asia-Pacific, South America, and the Middle East & Africa.
Company Profiles
You know, when you look at the global vegan food scene, some big names really stand out. We're talking about companies like Danone S.A., Amy’s Kitchen, Inc. (U.S.), Archer Daniels Midland Company, Beyond Meat Inc. (U.S.), and The Hain Celestial Group, Inc. (U.S.). Plus, there are awesome companies like Earth’s Own Food Company Inc. (Canada), Daiya Foods Inc., Vitasoy International Holdings Ltd., VBIte Food Ltd (U.K.), and Sun Opta Inc. Basically, tons of companies are creating all sorts of vegan goodies. To stay ahead, they're trying to get their products everywhere. Take Beyond Meat, for example. They're expanding their reach by making their Beyond Burger available at 2,000 more stores through Tesco, Sainsbury's, and Asda (you know, those giant supermarkets). They're adding the Beyond Burger to 1,512 Tesco spots, 413 Sainsbury's, and 98 Asda locations. They're even celebrating World Vegan Day with this big rollout! Oh, and get this, the Beyond Burger even won Best Vegan Patty at the Women's Health Sorts Nutrition Awards 2022.
| Attribute | Details |
| Base Year | 2022 |
| Historical Years | 2018 – 2021 |
| Estimated Year | 2023 |
| Forecast Period | 2024 – 2028 |
| Quantitative Units | Revenue in USD Billion and CAGR for 2018-2022 and 2023-2028 |
| Report Coverage | Revenue forecast, company share, competitive landscape, growth factors, and trends |
| Segments Covered | Product TypeSourceDistribution ChannelRegionCompany |
| Regional Scope | North America, Europe, Asia-Pacific, Middle East & Africa and South America |
| Country Scope | United States; Canada; Mexico; Germany; France; United Kingdom; Italy; China; India; Japan; South Korea; Australia, Saudi Arabia; UAE, South Africa, Brazil; Argentina; Colombia |
| Key Companies Profiled | Danone S.A., Amy’s Kitchen, Inc. (U.S.), Archer Daniels Midland Company, Beyond Meat Inc. (U.S.), The Hain Celestial Group, Inc. (U.S.), Earth’s Own Food Company Inc. (Canada), Daiya Foods Inc., Vitasoy International Holdings Ltd., VBIte Food Ltd (U.K.), Sun Opta Inc. |
| Customization Scope | 10% free report customization with purchase. Addition or alteration to country, regional & segment scope. |
| Pricing and Purchase Options | Avail of customized purchase options to meet your exact research needs. Explore purchase options |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/pdf format on special request) |
Report Scope
In this report, the global vegan food market has been segmented into the following categories, in addition to the industry trends which have also been detailed below
- Vegan food Market, By Product Type
- Dairy Alternative
- Meat Substitute
- Vegan Bakery
- Vegan Confectionery
- Others
- Vegan food Market, By Source
- Wheat
- Soy
- Oats
- Almond
- Nuts
- Others
- Vegan food Market, By Distribution Channel
- Hypermarkets/Supermarkets
- Convenience Stores
- Specialty Stores
- Online
- Others
- Vegan food Market, By Region
- North America
- The United States
- Canada
- Mexico
- Europe
- United Kingdom
- Germany
- France
- Italy
- Spain
- Switzerland
- Netherland
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Australia
- Vietnam
- South America
- Brazil
- Argentina
- Colombia
- Middle East & Africa
- Israel
- Saudi Arabia
- South Africa
- UAE
- Turkey
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