Global Vegan Food Market Valued at $18.44 Billion in 2023, Expected to Expand at 9.2% CAGR Through 2030

𝐄𝐬𝐭𝐢𝐦𝐚𝐭𝐞𝐝 𝐑𝐞𝐯𝐞𝐧𝐮𝐞 𝐆𝐫𝐨𝐰𝐭𝐡:

𝐕𝐞𝐠𝐚𝐧 𝐅𝐨𝐨𝐝 𝐌𝐚𝐫𝐤𝐞𝐭 size was valued at US$ 18.44 Bn in 2023. Global Vegan Food Market is estimated to grow at a CAGR of 9.2% over the forecast period.

𝐕𝐞𝐠𝐚𝐧 𝐅𝐨𝐨𝐝 𝐌𝐚𝐫𝐤𝐞𝐭 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰:

A vegan diet consists of a variety of nutritious grains, fruits, and vegetables that are derived from plant-based sources and serve as substitutes for meat and animal products. Vegan foods are rich in vitamins B1, C, and E, as well as folic acid, magnesium, and iron, while being low in cholesterol and saturated fats. Many celebrities and athletes promote vegan products as part of a healthy lifestyle due to their high nutritional value. The vegan food market is segmented based on product type, distribution channel, and region.

Additionally, individuals who are lactose intolerant increasingly consume vegan pasta dishes like carbonara, semolina, spaghetti, linguine, and ravioli, as these products do not contain milk or by-products, leading to a rise in vegan food consumption. Vegan food encompasses eating habits that exclude animal products such as stock, fat, roe, eggs, milk, cheese, and meat.

𝐔𝐧𝐥𝐨𝐜𝐤 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬: 𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐚 𝐅𝐫𝐞𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐨𝐟 𝐎𝐮𝐫 𝐋𝐚𝐭𝐞𝐬𝐭 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰:https://www.stellarmr.com/report/req_sample/Vegan-Food-Market/394

𝐖𝐡𝐚𝐭 𝐚𝐫𝐞 𝐕𝐞𝐠𝐚𝐧 𝐅𝐨𝐨𝐝 𝐌𝐚𝐫𝐤𝐞𝐭 𝐃𝐲𝐧𝐚𝐦𝐢𝐜𝐬?

Vegan Food Market Growth Driven by Rising Awareness of Animal Cruelty:

The vegan food market is growing as awareness increases regarding animal health and cruelty in the food industry, leading to a significant shift from animal-based to plant-based foods. The rising popularity of veganism, fueled by celebrities and influencers who adopt and promote this diet, is driving demand for vegan products. As more people follow these trends, market growth continues to accelerate.

Concerns about animal cruelty have also been linked to broader societal issues like criminal violence and domestic abuse. Reducing these issues by addressing animal welfare, including spaying and neutering pets, highlights the ethical benefits of veganism and further fuels the vegan food market's expansion.

Potential Side Effects of Vegan Diets:

Despite its benefits, a vegan diet can have certain drawbacks. Common side effects include low energy, weight issues, leaky gut syndrome, hormonal imbalances, iron deficiency, vitamin B12 deficiency, and an increased risk of depression. Since vitamin B12 is predominantly found in animal sources, vegans are at a higher risk of deficiency, which can lead to irreversible health issues. Additionally, while plant-based diets contain iron, it is the less absorbable non-heme iron, making vegans more susceptible to iron deficiency, which can cause fatigue and anemia-factors that may hamper the growth of the vegan food market.

𝐖𝐡𝐚𝐭 𝐢𝐬 𝐕𝐞𝐠𝐚𝐧 𝐅𝐨𝐨𝐝 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 ?

In 2023, North America led the global vegan food market with a 47% share. The region's dominance is attributed to the rising vegan population driven by increasing concerns over animal cruelty and the environmental impact of the food industry. Additionally, the high prevalence of lactose intolerance in the U.S. boosts demand for dairy alternatives. According to sales data from SPINS, on behalf of the Plant-Based Foods Association (PBFA) and The Good Food Institute, U.S. consumers continued to show strong interest in plant-based products in 2020, with sales of plant-based alternatives to animal products growing by 27% to $7 billion.

Meanwhile, the Asia Pacific region is expected to grow at a CAGR of 8.3% during the forecast period. Rising per capita income in developing countries such as China, India, Thailand, Taiwan, and Bangladesh is anticipated to drive market expansion. Key manufacturers are increasingly focusing on expanding operations in the APAC region due to its strong growth potential.

𝐅𝐑𝐄𝐄 𝐆𝐞𝐭 𝐚 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰! @https://www.stellarmr.com/report/req_sample/Vegan-Food-Market/394

𝐖𝐡𝐚𝐭 𝐢𝐬 𝐕𝐞𝐠𝐚𝐧 𝐅𝐨𝐨𝐝 𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧 ?

by Product

Dairy Alternative
Meat Substitute
Others

By Distribution Channel

Offline
Online

𝐒𝐨𝐦𝐞 𝐨𝐟 𝐭𝐡𝐞 𝐜𝐮𝐫𝐫𝐞𝐧𝐭 𝐩𝐥𝐚𝐲𝐞𝐫𝐬 𝐢𝐧 𝐭𝐡𝐞 𝐕𝐞𝐠𝐚𝐧 𝐅𝐨𝐨𝐝 𝐌𝐚𝐫𝐤𝐞𝐭 𝐚𝐫𝐞:

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)
Blue diamond growers (Sacramento, CA)
Earth's own food company inc. (Canada)
Hain celestial group, inc. (New York)
Living harvest foods inc. (U.S)
Kikkoman corporation (Japan)
Pascual group (Spain)
Sunopta inc. (Canada)

𝐅𝐨𝐫 𝐌𝐨𝐫𝐞 𝐈𝐧𝐟𝐨𝐫𝐦𝐚𝐭𝐢𝐨𝐧 𝐀𝐛𝐨𝐮𝐭 𝐓𝐡𝐢𝐬 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐏𝐥𝐞𝐚𝐬𝐞 𝐕𝐢𝐬𝐢𝐭:https://www.stellarmr.com/report/Vegan-Food-Market/394

𝐊𝐞𝐲 𝐎𝐟𝐟𝐞𝐫𝐢𝐧𝐠𝐬:

Past Market Size and Competitive Landscape
Market Size, Share, Size & Forecast by different segment
Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
Market Segmentation - A detailed analysis by Product
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
Recommendations

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𝐂𝐨𝐧𝐭𝐚𝐜𝐭 𝐒𝐭𝐞𝐥𝐥𝐚𝐫 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡:

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𝐀𝐛𝐨𝐮𝐭 𝐒𝐭𝐞𝐥𝐥𝐚𝐫 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡:

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. Firm research on many topics like Healthcare, Pharmaceuticals, Electronics and communications, Chemical and Material, Food and Beverages, Aerospace and defense, and other sectors. The company provide numerous services i.e. consultancy, Market Intelligence, Syndicate Research etc. to help executives in any organization and consumers achieve their mission-critical goals.

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