The latest report published by IMARC Group, titled “Vegan Food Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a comprehensive analysis of the industry, which comprises insights on vegan food market share. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global vegan food market is expected to exhibit a CAGR of 9.7% during 2023-2028.

What is Vegan Food?

Vegan food represents a dietary choice focused on the exclusion of animal products, including meat, dairy, eggs, and other animal-derived ingredients. It is rooted in ethical, environmental, and health considerations. A vegan diet is centered around plant-based foods, such as fruits, vegetables, grains, legumes, nuts, and seeds. Veganism also aligns with environmental sustainability. Choosing plant-based foods can help reduce one's ecological footprint and mitigate the environmental impact associated with livestock production. Ethical concerns regarding animal welfare have been a driving force behind the rise of veganism. By avoiding animal products, individuals aim to reduce their contribution to animal suffering in industries such as factory farming. This ethical stance extends beyond food choices to encompass other aspects of lifestyle, including clothing and personal care products.

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What are the growth prospects and trends in the vegan food industry?

The increasing awareness of the environmental impact of animal agriculture is driving the global market. Consumers are becoming more conscious of the significant land use, water consumption, and greenhouse gas emissions associated with meat and dairy production. This awareness has led to an increase in demand for plant-based foods that offer a more sustainable and eco-friendlier alternative. Furthermore, the expanding range of plant-based offerings has made veganism more accessible and appealing to a broader audience. The market includes not only plant-based meats and dairy substitutes but also a wide array of fruits, vegetables, grains, legumes, and nuts that form the foundation of plant-centric diets. Health considerations also play a pivotal role in augmenting the vegan food market. As people become more health conscious, many are recognizing the potential benefits of adopting a plant-based diet, such as reduced risk of chronic diseases like heart disease, diabetes, and certain cancers.

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Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

• Amy’s Kitchen Inc.
• Beyond Meat Inc.
• Daiya Foods Inc.
• Danone S.A.
• Eden Foods Inc.
• Plamil Foods Ltd.
• The Archer Daniels Midland Company
• Tofutti Brands Inc.
• VBites Foods Limited
• Vitasoy Australia Products Pty Ltd.

Vegan Food Market Segmentation:

Our report has categorized the market based on region, product, source, and distribution channel.

Breakup by Product:

• Dairy Alternatives
  • Cheese
  • Desserts
  • Snacks
  • Others
• Meat Substitutes
  • Tofu
  • Texturized Vegetable Protein (TVP)
  • Seiten
  • Quorn
  • Others
• Others

Breakup by Source:

• Almond
• Soy
• Oats
• Wheat
• Others

Breakup by Distribution Channel:

• Supermarkets and Hypermarkets
• Convenience Stores
• Specialty Stores
• Online Stores
• Others

Breakup by Region:

• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key highlights of the report:

• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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