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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Vegan Food Market Trends
The market is primarily being driven by the growing preference for plant-based foods that focus on basic, whole ingredients like mushrooms, walnuts, tempeh, and legumes. This movement is fuelled by a consumer drive towards more natural and transparently sourced options, moving away from processed foods. Mushrooms, recognised for their versatility and nutritional value, are emerging as a key ingredient across various food and beverage sectors.
In the West, a rising proportion of the population has stopped consuming meat, and as a result is 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 vegan food market forward.
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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