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From 2023 to 2030, the worldwide market for vegan food is projected to expand from its 2022 valuation of USD 16.59 billion at a CAGR (compound annual growth rate) of 12.7%.
The main reason for this rise is the spread of information about the health benefits of a vegan diet. Rising concern over animal welfare and animal abuse has been prompting individuals to change from animal-based to plant-based diets. As a result, there has been a rise in the popularity of vegan cuisine as consumer tastes have shifted. One of the largest online food delivery applications, Grubhub, was responsible for a 17% increase in vegan food deliveries in 2021. The food business was among those hit hard by the COVID-19 outbreak. Food supply chains, product distribution routes, and others all saw significant changes as a result of global shutdowns.
Adoption is predicted to increase in response to increased consumer demand for meat alternatives and alternative dairy products. Consumers are becoming interested in alternatives to dairy milk, such as soy, coconut, and almond milk. The industry is expanding thanks to the increasing number of young people who are open to trying vegan options. As a result, businesses have developed and introduced cutting-edge items to consumers. Products with fresh aesthetics and features are introduced to reach a wider audience and satisfy the needs of existing customers.
The COVID-19 epidemic has had a major effect on people's eating habits. Early on, people stocked up on food supplies, both those containing meat and those that did not. Food production and distribution were already under stress from hoarding, and this only made things worse. Companies gradually increased production to keep up with the rising demand for vegan cuisine. Sales of these vegan items have increased all around the world as people prioritize their health and wellbeing while making purchases. In addition, during that time period, the prevalence of e-commerce platforms dedicated to the sale of food items expanded. A large number of people adopted a healthy lifestyle while working from home during the COVID-19 epidemic, leading to an increase in the quantity of vegan meals delivered by delivery services.
Plant-based foods are those that do not contain any animal products in their production or preparation. Meat alternatives are foods that look, smell, and taste like meat but are actually far healthier for you. Such items are increasingly being used as alternatives for traditional meat and meat products. Soybeans, wheat, and other grains make up the bulk of their constituents. Tofu is the most extensively used meat alternative, and it can stand in for a variety of different kinds of meat including pork, chicken, and cattle. Products for eating and drinking that don't contain dairy are also made from alternatives including almonds, soy, rice, coconut, and others. Milk, ice cream, cheese, butter, and other dairy-based items are widely consumed alternatives.
Vegan food is more expensive to produce than its animal-based counterpart because of the higher cost of the plant-based ingredients. As a result, this is likely to slow the spread of vegan food in developing and middle-income nations. However, different prominent players are utilizing modern technologies to produce substantial breakthroughs in the flavors and textures of plant-based meals which are projected to present critical growth prospects. Motif FoodWorks, Inc., a food technology firm, is researching and developing plant-based meat and plant-based cheese using extrudable fat technology and prolamin technology.
Consumers' increasingly sedentary lifestyles are contributing to an increase in chronic diseases including obesity and cardiovascular disease. Adopting a vegan diet has been shown to aid in weight loss, increase circulation, and lower the risk of cardiovascular disease. A study published in JAMA Internal Medicine Journal shows that those who choose a vegan lifestyle have a better life expectancy than those who adopt a meat-based diet. Adopting a vegan diet is beneficial for the body's metabolism because plant-based foods are high in fiber. As a result, there is growing interest in veganism among those who are concerned about their health. Restaurant chains, five-star eateries, and food manufacturers like Amy's Kitchen, Inc. are all responding to the rising demand for vegan options by releasing new goods and vegan food ideas. Vegan food dishes including pumpkin, avocado, and other nutritious foods are released onto the market in an effort to appeal to health-conscious shoppers who are open to trying out new cuisines.
Report Coverage
Global Vegan Food research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Vegan Food report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Vegan Food competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Vegan Food market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Vegan Food market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Vegan Food market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Danone S.A. (Paris, France), Conagra, Inc. (Illinois, U.S.), The Hain Celestial Group, Inc. (New York, U.S.), Axiom Foods, Inc. (Los Angeles, U.S.), DAIYA FOODS INC. (Burnaby, Canada), Alpro (Wevelgem, Belgium), Kellogg Company (Michigan, U.S.), Amy’s Kitchen (California, U.S.), Impossible Foods Inc. (California, U.S.), Beyond Meat (California, U.S.), Archer Daniels Midland Company (Illinois, U.S.), Tofutti Brands, Inc. (New Jersey, U.S.).
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Vegan Food market based on the below-mentioned segments:
Global Vegan Food Market, By Product Type
Dairy Alternative
Meat Substitute
Others
Global Vegan Food market, By Distribution Channel
Online Sales Channels
Offline sales channels
Global Vegan Food market, Regional Analysis
The main reason for this rise is the spread of information about the health benefits of a vegan diet. Rising concern over animal welfare and animal abuse has been prompting individuals to change from animal-based to plant-based diets. As a result, there has been a rise in the popularity of vegan cuisine as consumer tastes have shifted. One of the largest online food delivery applications, Grubhub, was responsible for a 17% increase in vegan food deliveries in 2021. The food business was among those hit hard by the COVID-19 outbreak. Food supply chains, product distribution routes, and others all saw significant changes as a result of global shutdowns.
Adoption is predicted to increase in response to increased consumer demand for meat alternatives and alternative dairy products. Consumers are becoming interested in alternatives to dairy milk, such as soy, coconut, and almond milk. The industry is expanding thanks to the increasing number of young people who are open to trying vegan options. As a result, businesses have developed and introduced cutting-edge items to consumers. Products with fresh aesthetics and features are introduced to reach a wider audience and satisfy the needs of existing customers.
The COVID-19 epidemic has had a major effect on people's eating habits. Early on, people stocked up on food supplies, both those containing meat and those that did not. Food production and distribution were already under stress from hoarding, and this only made things worse. Companies gradually increased production to keep up with the rising demand for vegan cuisine. Sales of these vegan items have increased all around the world as people prioritize their health and wellbeing while making purchases. In addition, during that time period, the prevalence of e-commerce platforms dedicated to the sale of food items expanded. A large number of people adopted a healthy lifestyle while working from home during the COVID-19 epidemic, leading to an increase in the quantity of vegan meals delivered by delivery services.
Plant-based foods are those that do not contain any animal products in their production or preparation. Meat alternatives are foods that look, smell, and taste like meat but are actually far healthier for you. Such items are increasingly being used as alternatives for traditional meat and meat products. Soybeans, wheat, and other grains make up the bulk of their constituents. Tofu is the most extensively used meat alternative, and it can stand in for a variety of different kinds of meat including pork, chicken, and cattle. Products for eating and drinking that don't contain dairy are also made from alternatives including almonds, soy, rice, coconut, and others. Milk, ice cream, cheese, butter, and other dairy-based items are widely consumed alternatives.
Vegan food is more expensive to produce than its animal-based counterpart because of the higher cost of the plant-based ingredients. As a result, this is likely to slow the spread of vegan food in developing and middle-income nations. However, different prominent players are utilizing modern technologies to produce substantial breakthroughs in the flavors and textures of plant-based meals which are projected to present critical growth prospects. Motif FoodWorks, Inc., a food technology firm, is researching and developing plant-based meat and plant-based cheese using extrudable fat technology and prolamin technology.
Consumers' increasingly sedentary lifestyles are contributing to an increase in chronic diseases including obesity and cardiovascular disease. Adopting a vegan diet has been shown to aid in weight loss, increase circulation, and lower the risk of cardiovascular disease. A study published in JAMA Internal Medicine Journal shows that those who choose a vegan lifestyle have a better life expectancy than those who adopt a meat-based diet. Adopting a vegan diet is beneficial for the body's metabolism because plant-based foods are high in fiber. As a result, there is growing interest in veganism among those who are concerned about their health. Restaurant chains, five-star eateries, and food manufacturers like Amy's Kitchen, Inc. are all responding to the rising demand for vegan options by releasing new goods and vegan food ideas. Vegan food dishes including pumpkin, avocado, and other nutritious foods are released onto the market in an effort to appeal to health-conscious shoppers who are open to trying out new cuisines.
Report Coverage
Global Vegan Food research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Vegan Food report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Vegan Food competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Vegan Food market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Danone S.A. (Paris, France), Conagra, Inc. (Illinois, U.S.), The Hain Celestial Group, Inc. (New York, U.S.), Axiom Foods, Inc. (Los Angeles, U.S.), DAIYA FOODS INC. (Burnaby, Canada), Alpro (Wevelgem, Belgium), Kellogg Company (Michigan, U.S.), Amy’s Kitchen (California, U.S.), Impossible Foods Inc. (California, U.S.), Beyond Meat (California, U.S.), Archer Daniels Midland Company (Illinois, U.S.), Tofutti Brands, Inc. (New Jersey, U.S.). |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Vegan Food Market from 2021 to 2030.
- Market Forecast for Vegan Food Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Vegan Food competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Vegan Food
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Vegan Food market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Vegan Food market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Danone S.A. (Paris, France), Conagra, Inc. (Illinois, U.S.), The Hain Celestial Group, Inc. (New York, U.S.), Axiom Foods, Inc. (Los Angeles, U.S.), DAIYA FOODS INC. (Burnaby, Canada), Alpro (Wevelgem, Belgium), Kellogg Company (Michigan, U.S.), Amy’s Kitchen (California, U.S.), Impossible Foods Inc. (California, U.S.), Beyond Meat (California, U.S.), Archer Daniels Midland Company (Illinois, U.S.), Tofutti Brands, Inc. (New Jersey, U.S.).
Primary Target Market
- Market Players of Vegan Food
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Vegan Food market based on the below-mentioned segments:
Global Vegan Food Market, By Product Type
Dairy Alternative
Meat Substitute
Others
Global Vegan Food market, By Distribution Channel
Online Sales Channels
Offline sales channels
Global Vegan Food market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
About This Research
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