Insights from the Top Vegan Food Manufacturers Worldwide 2024 | IMARC Group

Vegan food refers to completely free and plant-based food devoid of any animal-derived ingredients or by-products, comprising of animal meat, poultry, fish, dairy, eggs, and honey. Moreover, vegan food is made solely from plant-based ingredients like fruits, vegetables, grains, legumes, nuts, seeds, and veg alternatives. Veganism is animal product abstinence for either ethical, environmental, or health perspectives or religious reasons as a lifestyle and dietary choice. Vegan food involves various dishes, such as fresh salads, veggies soups, sandwiches, stir-fried or pasta dishes, desserts, and others, which all look very appetizing due to the absence of animal-source ingredients in them. The rise in the appeal of veganism has also seen a niche in the vegetal industry for non-animal products, such as vegan meat substitutes, dairy-free cheeses, plant-based milk, and egg replacers. At present, vegan food is gaining immense traction across the globe due to increasing awareness about mistreatments and cruelties in the industry of food production.

How Big is the Vegan Food Market:

• Market Size Value in 2023: US$ 18.3 Billion
• Industry Revenue Forecast in 2032: US$ 39.8 Billion
• Growth Rate: CAGR of 9.03 %
• Base Year of Estimation: 2023
• Historical Data: 2018-2023
• Future Forecast Period: 2024-2032

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Global Vegan Food Industry Driving Factors and Future Demand Analysis:

Vegan food manufacturers such as Amy Kitchen Inc., Beyond Meat Inc., Daiya Foods Inc., Danone SA, Eden Foods Inc., and Plamil Food Ltd. receive stimulus from several important factors. Moreover, both banks of demand and consumer consciousness have intertwined to propel these organizations. Amy's Kitchen, which specializes in organic and vegan frozen meals is now offering gluten-free and vegan products pushing the organization to a group of heterogeneous market. Beyond Meat Inc., the first and one of the most well-known companies in the plant-based meat alternatives industry, has gained widespread acclaim for its replication of animal meat in terms of taste and texture.

List of Top Vegan Food Companies:

• 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.

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Additionally, it has been afforded distribution channels through major retailers and fast-food outlets, which positively affects its broader availability and accessibility. Daiya Foods Inc., one of the pioneers in dairy-free and vegan cheese analogs, has decided to drive innovation and expand its product offerings so that it could meet the customers' constantly changing food preferences. Danone S.A., a multi-national food and beverages company, has done acquisitions like Silk and So Delicious to increase the share of the vegan market. Eden Foods Inc., known for its organic and non-GMO plant-based foods, has remained steadfast in its sustainable sourcing operations and environmental initiatives for which it is well-respected for its ethical business practices. Plamil Foods Ltd. (UK) has directed its efforts mainly towards the development of products and expansion to new markets. It has managed to become a leading player in the global vegan food industry. In addition, the activities of these firms perceive that there is a growing demand for vegan food items and a growing interest and investment in plant-based alternatives to animal-derived products.

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This release was published on openPR.