Vegan Food Market Growth, Size, Trends, Revenue, Price, Challenges, Demand and Future Outlook: SPER Market Research

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Published: Jun 2023	Report ID: FOOD2361	Pages: 1 - 244	Formats^*:
Category : Food & Beverages

Vegan Food Market Introduction and Overview

According to SPER Market Research, the Global Vegan Food Market is estimated to reach USD 113.94 billion by 2033 with a CAGR of 13.18%.

The report includes an in-depth analysis of the Global Vegan Food Market, including market size and trends, product mix, distribution channels, and supplier analysis. Vegan food is food that does not contain any animal-derived components or byproducts. It is the favoured diet of vegans, who avoid eating meat, poultry, fish, dairy, eggs, honey, and gelatin. Vegan food, on the other hand, emphasises plant-based ingredients such as fruits, vegetables, legumes, whole grains, nuts, and seeds. This style of meal frequently employs novel cooking techniques to replicate non-vegan flavours and textures. Stir-fries, salads, grain bowls, veggie burgers, plant-based proteins, pasta with vegetable-based sauces, and vegan desserts are all examples of vegan cuisine. To live a vegan lifestyle, you must be aware of hidden animal products and choose full, unadulterated foods.

Health and Wellness Trends: Plant-based diets are becoming increasingly popular among health-conscious people owing to their supposed health benefits. Vegan food is typically associated with lower cholesterol levels, a lower risk of chronic diseases, and greater consumption of fibre, vitamins, and minerals.

Environmental Concerns: Concerns about climate change, deforestation, and resource depletion connected with animal husbandry have prompted people to seek out more sustainable food options. Plant-based diets are a more ecologically friendly option, with lower greenhouse gas emissions and water use, leaving a smaller ecological imprint.

Market Opportunities and Challenges

The vegan food industry has a considerable potential for growth and expansion. The rising level of consumer health knowledge is one of the primary opportunities. Because of the purported health advantages, including a lower risk of contracting certain diseases and an improvement in general wellbeing, more individuals are switching to plant-based diets. This trend provides opportunities for businesses to create and provide a wide variety of wholesome and delectable vegan cuisine options. Also, customers are looking for sustainable and environmentally friendly food options as they become more conscious of the effects that animal agriculture has on the environment. These issues are addressed by vegan cuisine, which also provides a practical solution thanks to its lower resource consumption and carbon footprint.

The market for vegan food, nevertheless, also has its difficulties. Changing consumer attitudes and taste preferences is one of the biggest obstacles. In order to persuade people to migrate from animal-based products to plant-based alternatives, taste barriers must be removed and the diversity and excellence of vegan food options must be demonstrated. Another issue is the restricted accessibility and availability of vegan food items in some areas.

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Market Competitive Landscape

The global demand for plant-based food has created growth opportunities for manufacturers worldwide. As a result, product innovation has become a crucial competitive strategy adopted by companies operating in this market, driving their success and expansion. Upfield introduced its vegan cheese brand, Violife, in the Middle East in July 2021. Violife offers allergen-free alternatives to dairy, including sliced, boxed, and grated options in cheddar and mozzarella flavors. Some of the major key players are: Amy's Kitchen, Beyond Meat, Daiya Foods Inc., Danone S.A, Eden Foods Inc., VBites Foods Limited, VITASOY International Holdings Limited, Others.

Scope of the Report:

Report Metric	Details
Market size available for years	2019-2033
Base year considered	2022
Forecast period	2023-2033
Segments covered	By Product, By Distribution Channel
Regions covered	Asia-Pacific, Africa, Europe, Latin America, Middle East & North America.
Companies Covered	Amy's Kitchen, Beyond Meat, Daiya Foods Inc., Danone S.A, Eden Foods Inc., Plamil Foods Ltd, SunOpta, Tofutti Brands Inc., VBites Foods Limited, VITASOY International Holdings Limited, Others

COVID-19 Impact on Global Vegan Food Market

As a result of the pandemic's increased awareness of health and well-being, there has been a spike in demand for plant-based and vegan products. Consumers are becoming more interested in healthful and immune-boosting meals, which has resulted in an increase in the consumption of vegan alternatives. Furthermore, the COVID-19 epidemic, which is thought to have started in animals, has prompted health and safety worries about animal products. As a result, some consumers are changing to vegan products, believing that they are safer and less prone to contamination.

Key Target Audience:

Environmental Advocates
Flexitarians and Reducetarians
Food Allergy Sufferers
Health-Conscious Consumers
Vegans and Vegetarians
Others

Our in-depth analysis of the Vegan Food Market includes the following segments:

By Type:	Confectionery Dairy Alternatives Egg Alternative Meat Substitutes Plant-Based Snacks Vegan Bakery
By Distribution Channel:	Convenience Stores Speciality Stores Supermarkets and Hypermarkets Online

Key Topics Covered in the Report:

Global Vegan Food Market Size (FY’2023-FY’2033)
Overview of Global Vegan Food Market
Segmentation of Global Vegan Food Market By Product (Dairy Alternatives, Meat Substitutes, Egg Alternative, Vegan Bakery, Confectionery & Plant-Based Snacks)
Segmentation of Global Vegan Food Market By Distribution Channel (Supermarkets and Hypermarkets, Convenience Stores, Speciality Stores and Online)
Statistical Snap of Global Vegan Food Market
Expansion Analysis of Global Vegan Food Market
Problems and Obstacles in Global Vegan Food Market
Competitive Landscape in the Global Vegan Food Market
Impact of COVID-19 and Demonetization on Global Vegan Food Market
Details on Current Investment in Global Vegan Food Market
Competitive Analysis of Global Vegan Food Market
Prominent Players in the Global Vegan Food Market
SWOT Analysis of Global Vegan Food Market
Global Vegan Food Market Future Outlook and Projections (FY’2023-FY’2033)
Recommendations from Analyst

1. Introduction

1.1. Scope of the report
1.2. Market segment analysis

2. Research Methodology

2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation

3. Executive Summary

4. Market Dynamics

4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the Global Vegan Food Market

5. Market variable and outlook

5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis

6. Competitive Landscape

6.1. Global Vegan Food Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Vegan Food Market

7. Global Vegan Food Market, By Product (USD Million)

7.1. Global Vegan Food Market Value Share and Forecast, By Product, 2023-2033
7.2. Confectionery
7.3. Dairy Alternatives
7.3.1. Cheese
7.3.2. Dessert
7.3.3. Milk
7.3.4. Yoghurt
7.3.5. Others
7.4. Egg Alternative
7.5. Meat Substitutes
7.5.1. Quorn
7.5.2. Seiten
7.5.3. Textured Vegetable Protein (TVP)
7.5.4. Tofu
7.5.5. Others
7.6. Plant-Based Snacks
7.7. Vegan Bakery

8. Global Vegan Food Market, By Distribution Channel (USD Million)

8.1. Global Vegan Food Market Value Share and Forecast, By Distribution Channel, 2023-2033
8.2. Convenience Stores
8.3. Speciality Stores
8.4. Supermarkets and Hypermarkets
8.5. Online

9. Global Vegan Food Market Forecast, 2019-2033 (USD Million)

9.1. Global Vegan Food Market Size and Market Share

10. Global Vegan Food Market, By Product, 2019-2033 (USD Million)

10.1. Global Vegan Food Market Size and Market Share By Product (2019-2026)
10.2. Global Vegan Food Market Size and Market Share By Product (2027-2033)

11. Global Vegan Food Market, By Distribution Channel, 2019-2033 (USD Million)

11.1. Global Vegan Food Market Size and Market Share By Distribution Channel (2019-2026)
11.2. Global Vegan Food Market Size and Market Share By Distribution Channel -(2027-2033)

12. Global Vegan Food Market, By Region, 2019-2033 (USD Million)

12.1. Global Vegan Food Market Size and Market Share By Region (2019-2026)
12.2. Global Vegan Food Market Size and Market Share By Region (2027-2033)
12.3. Asia-Pacific
12.3.1. Australia
12.3.2. China
12.3.3. India
12.3.4. Japan
12.3.5. South Korea
12.3.6. Rest of Asia-Pacific
12.4. Europe
12.4.1. France
12.4.2. Germany
12.4.3. Italy
12.4.4. Spain
12.4.5. United Kingdom
12.4.6. Rest of Europe
12.5. Middle East and Africa
12.5.1. Kingdom of Saudi Arabia
12.5.2. United Arab Emirates
12.5.3. Rest of Middle East & Africa
12.6. North America
12.6.1. Canada
12.6.2. Mexico
12.6.3. United States
12.7. Latin America
12.7.1. Argentina
12.7.2. Brazil
12.7.3. Rest of Latin America

13. Company Profile

13.1. Amy's Kitchen, Inc.
13.1.1. Company details
13.1.2. Financial outlook
13.1.3. Product summary
13.1.4. Recent developments
13.2. Beyond Meat
13.2.1. Company details
13.2.2. Financial outlook
13.2.3. Product summary
13.2.4. Recent developments
13.3. Daiya Foods Inc.
13.3.1. Company details
13.3.2. Financial outlook
13.3.3. Product summary
13.3.4. Recent developments
13.4. Danone S.A
13.4.1. Company details
13.4.2. Financial outlook
13.4.3. Product summary
13.4.4. Recent developments
13.5. Eden Foods Inc.
13.5.1. Company details
13.5.2. Financial outlook
13.5.3. Product summary
13.5.4. Recent developments
13.6. Plamil Foods Ltd
13.6.1. Company details
13.6.2. Financial outlook
13.6.3. Product summary
13.6.4. Recent developments
13.7. SunOpta
13.7.1. Company details
13.7.2. Financial outlook
13.7.3. Product summary
13.7.4. Recent developments
13.8. Tofutti Brands Inc.
13.8.1. Company details
13.8.2. Financial outlook
13.8.3. Product summary
13.8.4. Recent developments
13.9. VBites Foods Limited
13.9.1. Company details
13.9.2. Financial outlook
13.9.3. Product summary
13.9.4. Recent developments
13.10. VITASOY International Holdings Limited
13.10.1. Company details
13.10.2. Financial outlook
13.10.3. Product summary
13.10.4. Recent developments
13.11. Others

14. List of Abbreviations

15. Reference Links

16. Conclusion

17. Research Scope

SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.

The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.

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Frequently Asked Questions About This Report

How big is Vegan Food Market?

Vegan Food Market is projected to reach USD 113.94 billion by 2033, growing at a CAGR of 13.18% during the forecast period.

What is the growth rate of Vegan Food Market?

Vegan Food Market grew in market size from 2023. The Market is expected to reach USD 113.94 billion by 2033, at a CAGR of 13.18% during the forecast period.

What is the anticipated CAGR of Vegan Food Market during the forecast period?

Vegan Food Market CAGR of 13.18% during the forecast period.

How can I get a sample report on Vegan Food Market?

You can get the sample pages by clicking the link -Click Here

What is the market size of Vegan Food Market?

Vegan Food Market size is USD 113.94 billion from 2023 to 2033.

Which segment is expected to lead Vegan Food Market?

Vegan Food Market Segment is Covered By Product, By Distribution Channel

Which region is expected to have the highest market share in Vegan Food Market?

The North America region is anticipated to have the highest market share in Vegan Food Market.

Who are the key players in Vegan Food Market?

The key players in the market include Companies Covered Amy's Kitchen, Beyond Meat, Daiya Foods Inc., Danone S.A, Eden Foods Inc., Plamil Foods Ltd, SunOpta, Tofutti Brands Inc., VBites Foods Limited, VITASOY International Holdings Limited, Others

What is the conclusion of Vegan Food Market?

What is the conclusion of Vegan Food Market? Vegan food is food that does not contain any animal-derived components or byproducts. It is the favoured diet of vegans, who avoid eating meat, poultry, fish, dairy, eggs, honey, and gelatin.