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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 Size
The global vegan food market size reached a value of about USD 27.07 billion in 2023. The market is projected 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.
Key Takeaways
- Reportedly, in 2022, the worldwide retail market for plant-based meat alternatives reached a value of $6.1 billion.
- India distinguishes itself significantly in the global vegan food market with 22% of its population adhering to vegetarianism and 19% embracing veganism.
- Under the Vegan Trademark launched in 1990, the Vegan Society has registered over 65,000 products, encompassing 30,000 cosmetics and toiletries, and 18,000 food and drink items.
Vegan food refers to meals and ingredients that do not contain any animal products or by-products. Vegans avoid not only meat, poultry, and fish but also dairy products, eggs, honey, and other substances derived from animals. Vegan diets focus on plant-based foods such as fruits, vegetables, grains, nuts, seeds, and legumes. The reasons people choose veganism vary and can include health concerns, ethical considerations regarding animal rights and welfare, and environmental reasons.
The global vegan food market expansion is bolstered by the growing awareness regarding animal health as well as cruelty in the food industry, which has led to a significant shift towards plant-based food products. The growing popularity of the vegan diet and the emerging trend of following veganism have resulted in an accelerated demand for vegan food. For instance, the World Animal Organisation estimates that nearly 88 million individuals in the world are vegans.
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.
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
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.
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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