Vegan Food Market: Global Industry Analysis and Forecast (2024-2030) by Product, Distribution Channel, and Region.

Vegan Food Market Overviews

A vegan diet is made up of a range of nutritious grains, fruits, and vegetables. They are obtained or processed from plant-based sources and are used as meat and animal product substitutes. Vegan foods are high in vitamins B1, C, and E, as well as folic acid, magnesium, and iron, and are low in cholesterol and saturated fats. Various celebrities and athletes are encouraging the consumption of vegan products to maintain a healthy lifestyle due to their high nutritional content. Vegan Food Market's segment analysis is provided on the basis of product, distribution channel and region.

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Vegan Food Market Scope and Methodology:

The vegan food market is strengthened by a growing awareness of animal health and cruelty in the food industry, which has resulted in a considerable shift away from animal-based foods and toward plant-based foods. Vegan cuisine is in high demand due to the growing popularity of the vegan diet and the growing trend of practising veganism. For example, the increased popularity of this diet among celebrities has boosted market growth as more and more fans begin to follow suit.

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Vegan Food Market Regional Insights

The North American region dominated the market with a 47% share in 2023. North America led the vegan food market in 2023, owing to an increase in the vegan population in the region as a result of rising concerns about animal cruelty in the food business and its negative environmental impact. Furthermore, the United States has a high population of lactose intolerant persons, which drives demand for alternative dairy products. According to sales figures compiled by SPINS on behalf of trade group Plant-Based Foods Association (PBFA) and advocacy non-profit. The Good Food Institute, American consumers maintained their interest in plant-based foods throughout 2020, with sales of plant-based alternatives to animal products increasing by 27% to $7 billion (GFI).

Vegan Food Market Segmentation

By Product, the market is segmented as Dairy Alternative, Meat Substitute, and Others. Dairy Alternative Segment dominated the vegan food market with a 74.8% share in 2023. Lactose intolerance affects about 65% of the world's population, which is a major factor driving demand for dairy alternatives. Non-vegetarians have been drawn by the availability of a variety of items such as cheese, yoghurt, ice cream, and snacks, which has broadened the consumer base of this market. Manufacturers on the market have produced a variety of high-quality food items in a variety of tastes, all packaged attractively. This will almost certainly help the segment grow. Plant-based cheese accounted for the highest share of the dairy alternatives market. Its demand is likely to be fueled by an expanding product variety as well as an increase in cases of lactose intolerance.

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Vegan Food Market Key Players

Daiya Foods, Inc. (Canada)
Danone SA, (France)
Eden Foods, Inc. (Michigan)
Plamil Foods Ltd. (Folkestone, Kent, England)
Archer Daniels Midland Company (Chicago)
Tofutti Brands, Inc. (U.S)
VBites Foods Limited, (U.K)
Vitasoy Australia Products Pty Ltd. (Australia)

Key questions answered in the Vegan Food Market are:

What is Vegan Food?
What was the Vegan Food market size in 2023?
What is the growth rate of the Vegan Food Market?
Which are the factors expected to drive the Vegan Food market growth?
What are the different segments of the Vegan Food Market?
What growth strategies are the players considering to increase their presence in Vegan Food?
What are the upcoming industry applications and trends for the Vegan Food Market?
What are the recent industry trends that can be implemented to generate additional revenue streams for the Vegan Food Market?
Who are the leading companies and what are their portfolios in Vegan Food Market?
What segments are covered in the Vegan Food Market?
Who are the key players in the Vegan Food market?
Key Offerings:

Past Market Size and Competitive Landscape (2018 to 2022)
Past Pricing and price curve by region (2018 to 2022)
Market Size, Share, Size & Forecast by Different Segment | 2024-2030
Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by Region
Market Segmentation - A detailed analysis by segment with their sub-segments and Region
Competitive Landscape - Profiles of selected key players by region from a strategic perspective
Competitive landscape - Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER's analysis
Value chain and supply chain analysis
Legal Aspects of Business by Region
Lucrative business opportunities with SWOT analysis
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About Stellar Market Research
Established in 2018, Stellar Market Research is an India-based consulting and advisory firm focused on helping clients reach their business transformation objectives with advisory services and strategic business. The company's vision is to be an integral part of the client's business as a strategic knowledge partner. Stellar Market Research provides end-to-end solutions that go beyond key research technologies to help executives in any organization achieve their mission-critical goals. The company has clients from all across the globe, 23 % from India and others from Japan, Korea, Germany, United States, etc. The company uses its extensive industry knowledge, strong network, and know-how to provide complete insights that give clients a competitive advantage.

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