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Vegan Foods Market Report, Growth Analysis 2021: Impact of COVID-19, Business Insights of Leading Players, Segments and Emerging Technologies 2027
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Market Overview
The expected growth of vegan food globally can be attributed to the impact of non-vegetarian and dairy food on the environment and human health. One of the major contributors to global warming is the livestock industry, and, relative to plant-based agriculture, meat production has a much higher environmental impact concerning freshwater use, amount of land required, and waste products generated. Promoting increased consumption of plant-based foods is a recommended strategy to reduce human impact on the environment and is also now recognized as a potential strategy to reduce the high rates of some chronic diseases such as cardiovascular disease and certain cancers. Roughly 387 million people are living with diabetes, and according to the International Diabetes Federation, that number is expected to soar to nearly 600 Million by 2035.
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Furthermore, factors like increasing concerns about the environment, an increasing number of diseases and health issues, and rising and easy availability of the internet are some of the reasons behind increasing consumer awareness of food and related products. According to Health Focus data, 17% of U.S. consumers aged 15 to 70 currently claim to eat a predominately plant-based diet, while 60% report to be cutting back on meat-based products. Of those who are reducing their intake of animal-based proteins, 55% say the change is permanent, and 22% hope that it is.
COVID-19 Impact
The covid-19 pandemic has inflicted disruptions on manufacturing activities and supply chains across the globe. The pandemic-led interruptions and the lockdown norms implemented in various countries to contain the pandemic have bottlenecks in the bulk movement of non-essential goods. The factor also led to a decline in demand for consumer goods, electronics, etc., which adversely affected the growth dynamics of the Vegan Foods market. However, with the stabilization in economies, manufacturing activities would also spur the growth of the sectors, due to which the demand for Vegan Foods has started spurring.
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The Vegan Foods Market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
By type, the market is primarily bifurcated into
• Dairy Alternative
• Meat Substitute
• Others
The dairy alternative segment grabbed XX% market share in 2020. In the dairy alternatives market, there has been a significant increase in the variety of ingredients used to produce milk alternatives, including, soy, oat, coconut, almond, rice, hemp, etc. The wider variety of ingredients allows consumers more choice and more exciting flavors, as well as ensuring their dietary requirements are met.
By distribution channel, the market is primarily bifurcated into
• Offline
• Online
The offline segment dominated the market in 2020. The advantages of offline stores such as a wide range of product categories, the assistance of skilled staff, and the immediate shipping of products are leading to the growing share. Moreover, specialty stores provide training to their employees to assist customers and a few of them also offer price-matching guarantees, are leading to the growing share of this segment. However, the online segment would witness the heist CAGR in the forthcoming years. Surging internet penetration coupled with the adoption of smartphones is leading to the growth of the market.
Vegan Foods Market Geographical Segmentation Includes:
• North America
• Europe
• Asia-Pacific
• Rest of the World
Based on the estimation, the North America region grabbed XX% market share in 2020
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The major players targeting the market include
• Amy's Kitchen, Inc
• Beyond Meat, Inc.
• Daiya Foods, Inc.
• Danone SA
• Eden Foods, Inc.
• Plamil Foods Ltd.
• Archer Daniels Midland Company
• Tofutti Brands, Inc.
• VBites Foods Limited
• Vitasoy Australia Products Pty Ltd.
The degree of competition among prominent regional companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Vegan Foods market. The leading players have been analyzed by using research methodologies for getting insight views on global competition.
Key questions resolved through this analytical market research report include:
• What are the latest trends, new patterns, and technological advancements in the Vegan Foods Market?
• Which factors are influencing the Vegan Foods market over the forecast period?
• What are the global challenges, threats, and risks in the Vegan Foods Market?
• Which factors are propelling and restraining the Vegan Foods Market?
• What are the demanding global regions of the Vegan Foods Market?
• What will be the global market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by global companies?
Table of content:-
1 MARKET INTRODUCTION
2 RESEARCH METHODOLOGY OR ASSUMPTION
3 MARKET SYNOPSIS
4 EXECUTIVE SUMMARY
5 GLOBAL VEGAN FOODS COVID-19 IMPACT
6 GLOBAL VEGAN FOODS REVENUE, 2019-2027F
7 MARKET INSIGHTS BY TYPE
8 MARKET INSIGHTS BY SOURCE
9 MARKET INSIGHTS BY DISTRIBUTION CHANNEL
10 MARKET INSIGHTS BY REGION
11 VEGAN FOODS DYNAMICS
12 VEGAN FOODS OPPORTUNITIES
13 VEGAN FOODS TRENDS
14 LEGAL & REGULATORY FRAMEWORK
15 DEMAND AND SUPPLY SIDE ANALYSIS
16 VALUE CHAIN ANALYSIS
17 COMPETITIVE SCENARIO
18 COMPANY PROFILED
19 DISCLAIMER
We understand the requirement of different businesses, regions, and countries, we offer customized reports as per your requirements of business nature and geography. Please let us know If you have any custom needs.
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Contact us:
UnivDatos Market Insights (UMI)
Email: sales@univdatos.com
Web: https://univdatos.com
Ph: +91 7838604911
About Us:
UnivDatos Market Insights (UMI), is a passionate market research firm and a subsidiary of Universal Data Solutions. Rigorous secondary and primary research on the market is our USP, hence information presented in our reports is based on facts and realistic assumptions. We have worked with 200+ global clients, including some of the fortune 500 companies. Our clientele praises us for quality of insights, In-depth analysis, custom research abilities and detailed market segmentation.
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