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Vegan Food Market

Vegan Food Market Size, Share & Segmentation by Product Type (Dairy Alternative, Meat Substitute, and others), by Distribution Channel (Offline and Online) by Regions and Global Market Forecast 2022-2028

Report Id: SNS/F&B/1311 | May 2022 | Region: Global | 125 Pages

Report Scope & Overview:

The Vegan Food market size was valued at $22.02 billion in 2021 and is expected to reach $48.04 billion by 2028, registering a CAGR of 11.79 % from 2020 to 2028.

Vegan food items are by and large dairy-free or meat-free food items that are gotten or handled from plant-based sources. Meat substitutes are items that look like real meat in taste, flavor, and appearance however are more grounded than meat. Such items are progressively being utilized as alternatives for normal meat and meat items. They are essentially made out of fixings like soy, wheat, and others. Tofu is presumably the most well-known meat substitute and is generally utilized as an option for pork, chicken, hamburger, and different meats. Likewise, dairy-free food and drink items are ready from sources like almond, soy, rice, coconut, and others. Prominently drank dairy elective-based items are milk, frozen yogurt, cheddar, margarine, and others.

Vegan Food Market Revenue Graph

Expansion in stoutness rates everywhere, and development in medical issues, for example, heart infections, hypertension, diabetes, asthma, and others, have elevated the general well-being awareness among shoppers. This has brought about expansion sought after for various sorts of good food items including vegetarian food items. Additionally, over the recent years, there has been a flood in a number of the vegan populace all over the planet explicitly in created areas like North America and Europe. This arrangement of the populace is either lactose narrow-minded or exceptionally cognizant about food consumption. In this manner, flood in several vegetarian populace combined with ascend in the number of well-being cognizant purchasers drive the interest for vegan food items.

Market Dynamics:

Market Driver:

  • The rising occurrences of constant infections address

  • Different non-government associations (NGOs) are spreading mindfulness

Market Restraints:

  • The significant expense of vegan food items and their related lack block the market development

  • Buyers need to embrace exhortation from medical services experts

Market Opportunities:

  • The plant-based food space is set to fill quickly before long.

  • Ongoing send-offs in the space from large food players

Market Challenges:

  • The plant-based offering is altogether more costly than its creature-based partners.

Impact of Covid-19:

The interest in vegan food was ascending before the explosion of the COVID-19 pandemic one year prior, vegan, vegan, and flexitarian eating fewer cars were rising quickly. Furthermore, concerns concerning planetary manageability, individual well-being, and the mortal creature's treatment flooded this expanded consideration towards plant-based diets, and presently apparently the pandemic has just cultivated this pattern.

Market Estimations:

By Product Type:

Dairy options were the biggest item section in 2018 and represented over half of the worldwide income. Around 65% of the worldwide populace is lactose prejudice, which is a key variable supporting the interest in dairy elective food things. Accessibility of various items, for example, cheddar, yogurt, frozen yogurt, and bites, has likewise drawn in non-vegans and extended the purchaser base of this portion.

Furthermore, producers in the market have presented various quality food things in various flavors with alluring bundling arrangements. This is additionally prone to add to section development. Among such items, plant-based cheddar represented the biggest offer in dairy choices. Expanding its item portfolio alongside rising instances of lactose bigotry is supposed to fuel its interest.

By Distribution Channel:

In light of the dispersion channel, the Vegan Food market is fragmented into disconnected and on the web. Among the dissemination channel, the disconnected section records the higher-worth vegan food portion of the overall industry. A portion of the key retailers, for example, the huge, little retailer including the specialty stores have been considered in the disconnected stores of vegetarian food items. The development of store/hypermarket fragment in the dairy elective market can be credited to the expansion in the reception of stores and hypermarkets in both the experienced and developing business sectors. Besides, the one-stop arrangement given by these retail designs makes them an exceptionally well-known choice for looking for shoppers. Moreover, these retail designs offer a wide scope of items at a serious cost to clients and are typically situated in effectively available regions, which adds to in general engaging quality of this fragment. Additionally, the specialty stores likewise satisfy quick satisfaction for purchasers as items purchased can be brought back home without holding up time.

Key Market Segmentation:

By Product Type:

  • Dairy Alternative
  • Meat Substitute
  • Others

By Distribution Channel:

  • Online Sales Channels
  • Offline sales channels

Vegan Food Market Segment Chart

Regional Analysis:

  • North America

    • USA

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

    • The Netherlands

    • Rest of Europe

  • Asia-Pacific

    • Japan

    • south Korea

    • China

    • India

    • Australia

    • Rest of Asia-Pacific

  • The Middle East & Africa

    • Israel

    • UAE

    • South Africa

    • Rest of Middle East & Africa

  • Latin America

    • Brazil

    • Argentina

    • Rest of Latin America

Key Players:

Sun Opta Inc., Whitewave Foods Company Inc., Hain Celestial Group Inc., Bhlue Diamond Growers, Archer Daniel Midland Company, Organic Valley Corporative, Panos Brand LLC., Pascual Group, Earth’s Own Food Company Inc., Living Harvest Food Inc.

Growing Alertness of Animal Cruelty is Driving the Vegan Food Market Growth

The worldwide vegetarian food market is supported by the developing mindfulness of seeing the creature’s well-being as well as brutality in the food business, which has prompted a critical shift towards plant-based food items and away from creature-based items. The developing notoriety of the vegetarian diet and the arising pattern of the following veganism has brought about a sped-up interest in vegan food. For example, the rising reception of this eating regimen by significant big names has improved the market development as an ever-increasing number of fans are beginning to embrace this eating routine.

In the West, a rising extent of the populace has quit devouring meat, accordingly embracing elective food, like vegetarian items. Further, the rising attention to the advantages of eating these items plays a critical influence on the reception of vegetarian food, consequently, working with the market development. Before long, the rising reception of a vegan diet in arising districts and item broadening are supposed to move the development of the market forward.

Vegan Food Market Report Scope:
Report Attributes Details
Market Size in 2021 US$ 22.02 Billion
Market Size by 2028 US$ 48.04 Billion
CAGR CAGR 11.79% From 2022 to 2028
Base Year 2021
Forecast Period 2022-2028
Historical Data 2017-2020
Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments • by Product Type (Dairy Alternative, Meat Substitute, and others)
• by Distribution Channel (Offline and Online)
Regional Analysis/Coverage North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
Company Profiles Sun Opta Inc., Whitewave Foods Company Inc., Hain Celestial Group Inc., Bhlue Diamond Growers, Archer Daniel Midland Company, Organic Valley Corporative, Panos Brand LLC., Pascual Group, Earth’s Own Food Company Inc., Living Harvest Food Inc.
Key Drivers •The rising occurrences of constant infections address.
•Different non-government associations (NGOs) are spreading mindfulness.
Restraints •Buyers need to embrace exhortation from medical services experts.


Frequently Asked Questions (FAQ) :

Ans: Manufacturers, Research Institutes, university libraries, suppliers, and distributors of the product.

Ans: The Vegan food market incorporates the development of the retail channel, the development of food and drinks, and ascend in veganism.

Ans: Vegan food market is segmented into product types and distribution channels.

 

Ans: The rising occurrences of constant infections addressed and different non-government associations (NGOs) are spreading mindfulness are driving the market growth.

Ans: The Vegan Food market size was valued at $22.02 billion in 2021


Table of Contents

 

1. Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions

 

2. Research Methodology

3. Market Dynamics

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Challenges

 

4. Impact Analysis

4.1 COVID 19 Impact Analysis

4.2 Impact of the Ukraine and Russia war

 

5. Value Chain Analysis

 

6. Porter’s 5 forces model

 

7.  PEST Analysis

 

8. Vegan food Market Segmentation based on Product Type

8.1 Dairy Alternative

8.2 Meat Substitute

 

9. Natural Food Preservatives Market Segmentation based on Distribution Channel

9.1 Online Sales Channels

9.2 Offline sales channels

 

10. Regional Analysis

10.1 Introduction

10.2 North America

10.2.1 USA

10.2.2 Canada

10.2.3 Mexico

10.3 Europe

10.3.1 Germany

10.3.2 UK

10.3.3 France

10.3.4 Italy

10.3.5 Spain

10.3.6 The Netherlands

10.3.7 Rest of Europe

10.4 Asia-Pacific

10.4.1 Japan

10.4.2 South Korea

10.4.3 China

10.4.4 India

10.4.5 Australia

10.4.6 Rest of Asia-Pacific

10.5 The Middle East & Africa

10.5.1 Israel

10.5.2 UAE

10.5.3 South Africa

10.5.4 Rest

10.6 Latin America

10.6.1 Brazil

10.6.2 Argentina

10.6.3 Rest of Latin America

 

11. Company Profiles

11.1 Sun Opta Inc.

11.1.1 Financial

11.1.2 Products/ Services Offered

11.1.3 SWOT Analysis

11.1.4 The SNS view

11.2 Whitewave Foods Company Inc.

11.3 Hain Celestial Group Inc.

11.4 Blue Diamond Growers

11.5 Archer Daniel Midland Company

11.6 Organic Valley Corporative

11.7 Panos Brand LLC.

11.8 Pascual Group

11.9 Earth’s Own Food Company Inc.

11.10 Living Harvest Food Inc.

 

12. Competitive Landscape

12.1 Competitive Benchmarking

12.2 Market Share analysis

12.3 Recent Developments

 

13. Conclusion

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Secondary Research

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