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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Competitive Landscape
Some of the major vegan food market players are increasingly investing in the development of innovative vegan product
Danone S.A.
Danone S.A. is a French multinational corporation specialising in food products, with a rich history dating back to its founding in 1919. The company's global operations span a diverse range of products, including baby food, coffee, dairy and dairy-free products, bottled water, and dietary supplements.
Daiya Foods Inc.
Daiya Foods Inc., known for its wide range of dairy-free food products, specialises in vegan cheese, yoghurts, dressings, and frozen desserts. The company is located in Burnaby, British Columbia, and since its foundation in 2008, has designed offerings to cater to individuals seeking plant-based alternatives without compromising on taste or texture.
Ripple Foods PBC
Ripple Foods PBC is a plant-based nutrition company, headquartered in Berkeley, California. The company began its operations in 2014 with its innovative use of pea protein to create dairy-free milk, creamers, and yoghurts that are rich in protein and low in sugar, appealing to consumers looking for nutritious and lactose-free options.
Impossible Foods Inc.
Impossible Foods Inc. is headquartered in California, the United States, and has been operating in the food and beverages sector since 2011. It has made headlines with its plant-based meat products, such as burgers and sausages, that aim to replicate the taste and texture of real meat. Its products are designed to reduce the environmental impact of animal farming by offering sustainable, plant-based alternatives.
Other key players in the global vegan food market are 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.
Companies in the global vegan food market are experiencing significant growth and development, driven by increasing consumer awareness of the health and environmental benefits of plant-based diets. This surge in interest is prompting businesses to invest in the expansion of their production capabilities and in innovative technologies to improve the flavours and textures of vegan products, catering to a broader consumer base seeking alternatives to animal-based foods.
Vegan Food Market Snapshots
Vegan Food Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the market attained a value of nearly USD 27.07 billion.
The market is projected to grow at a CAGR of 10.1% between 2024 and 2032.
The market is estimated to witness healthy growth in the forecast period of 2024-2032 to reach about USD 64.36 billion by 2032.
The major drivers of the market are rising disposable incomes, changing lifestyles, growing health awareness, rising population of lactose-intolerant consumers, and growing adoption of vegan diets.
The key market trend guiding the growth of the market includes the rising awareness of animal rights and growing concerns regarding environmental impact of the meat sector.
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.
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