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Vegan Food Market 2024 - By Share Analysis, Trends, Growth, Business Scenario, Top Regions, Key Players And Outlook By 2033
Vegan Food Market
The Business Research Company's Vegan Food Global Market Report 2024 identifies increasing number of vegans and vegetarians as the major driver for the Vegan Food market's growth in the forecast period. A vegan is a person who lives a lifestyle that strives to avoid, as far as feasible and practicable, all types of animal exploitation and cruelty for apparel, food, or any other reason. A vegetarian is a person who follows a diet that eliminates meat, fish, and fowl. They eat a plant-based diet rich in fruits and vegetables, grains, nuts, and seeds. Vegan cuisine delivers critical nutrients, beneficial fats, and humanitarian and ecological concerns to vegetarians and vegans. Vegans and vegetarians need to consume an appropriate diet that conceals all of their nutritional demands.
The vegan food market size has grown rapidly in recent years. It will grow from $24.58 billion in 2023 to $27.8 billion in 2024 at a compound annual growth rate (CAGR) of 13.1%. The growth in the historic period can be attributed to growing awareness of health and wellness, increasing concerns about the environmental impact of animal agriculture, ethical and animal welfare consideration, rising disposable incomes, globalization of veganism, government support. The vegan food market size is expected to see rapid growth in the next few years. It will grow to $42.86 billion in 2028 at a compound annual growth rate (CAGR) of 11.4%.
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Major competitors in the Vegan Food market are Amy's Kitchen, VITASOY International Holdings Ltd., Beyond Meat, Tofutti Brands Inc., Plamil Foods Ltd., Danone S.A., Eden Foods Inc.
A key trend in the Vegan Food market includes cell-based technology. One of the trends in the vegan food is the production of meat through cell-based technology. The cell-by-cell identical meat is produced in factories without involving the killing of animals. Production of cell-based meat involves feeding the animal cells with nutrients and proteins, thus eliminating the need for dependence on animals for meat. For instance, in October 2022, a US-based pet food manufacturer introduced the cellular-based meat broth topper for dogs known as chicken broth topper, which will replace factory-framed products with cruelty-free cell-based meet to challenges related to the low quality and contamination of pet food. Other major players such as Tyson Foods., an U.S.A. based processor and marketer of chicken, beef, and pork, are also investing in Memphis Meats in order to support the cell -based meat production.
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The Vegan Food market is segmented -
• By Product Substitute: Dairy Alternative, Meat Substitute, Other Product Substitutes
• By Source: Wheat, Soy, Oats, Almond, Other Sources
• By Distribution Channel: Online, Offline
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Vegan Food market.
The Business Research Company's "Global Vegan Food Market Report 2024" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Vegan Food Market Include:
1. Executive Summary
2. Vegan Food Market Characteristics
3. Vegan Food Market Trends And Strategies
4. Vegan Food Market - Macro Economic Scenario
5. Global Vegan Food Market Size and Growth
…………………………………….
31. Global Vegan Food Market Competitive Benchmarking
32. Global Vegan Food Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Vegan Food Market
34. Vegan Food Market Future Outlook and Potential Analysis
35. Appendix
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