Vegan Food Market - Globally Growth Analysis 2024: Size, Share, Challenges & Opportunities, and Forecast Report 2032

The latest report by IMARC Group, titled "𝐕𝐞𝐠𝐚𝐧 𝐅𝐨𝐨𝐝 𝐌𝐚𝐫𝐤𝐞𝐭: 𝐆𝐥𝐨𝐛𝐚𝐥 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐓𝐫𝐞𝐧𝐝𝐬, 𝐒𝐡𝐚𝐫𝐞, 𝐒𝐢𝐳𝐞, 𝐆𝐫𝐨𝐰𝐭𝐡, 𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐲, 𝐚𝐧𝐝 𝐅𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝟐𝟎𝟐𝟒-𝟐𝟎𝟑𝟐," offers a comprehensive analysis of the V74-2024-IWRDM5. The report also includes competitor and regional analysis, along with a breakdown of segments within the industry.

The global vegan food market size reached 𝐔𝐒𝐃 𝟏𝟖.𝟑 𝐁𝐢𝐥𝐥𝐢𝐨𝐧 𝐢𝐧 𝟐𝟎𝟐𝟑. Looking forward, IMARC Group expects the market to reach USD 39.8 Billion by 2032, exhibiting a 𝐠𝐫𝐨𝐰𝐭𝐡 𝐫𝐚𝐭𝐞 (𝐂𝐀𝐆𝐑) 𝐨𝐟 𝟗.𝟎𝟑% during 2024-2032.

𝐀𝐬𝐤 𝐭𝐨 𝐀𝐧𝐚𝐥𝐲𝐬𝐭: https://www.imarcgroup.com/request?type=report&id=2004&flag=C

𝐕𝐞𝐠𝐚𝐧 𝐅𝐨𝐨𝐝 𝐌𝐚𝐫𝐤𝐞𝐭 𝐓𝐫𝐞𝐧𝐝𝐬:

The global market is primarily driven by the growing awareness of animal welfare, encouraging consumers to seek plant-based alternatives. In accordance with this, the growing focus on health and wellness, especially concerns over cholesterol and saturated fats in animal products, is augmenting market demand. Similarly, rising environmental sustainability concerns, with plant-based diets seen as an eco-friendlier option, are another significant market driver. Furthermore, the rise in food allergies and intolerances, such as lactose intolerance, prompting a move toward dairy-free and meat-free products, is fueling the market expansion.

Additionally, continual advancements in food technology leading to the development of more appealing and nutritious plant-based alternatives that closely mimic animal-derived products, is enhancing the market appeal. Moreover, the expanding availability in mainstream grocery stores and restaurants, increasing accessibility, is also driving market growth.

𝐕𝐞𝐠𝐚𝐧 𝐅𝐨𝐨𝐝 𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐜𝐨𝐩𝐞 𝐚𝐧𝐝 𝐆𝐫𝐨𝐰𝐭𝐡 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:

The scope of the market is broad and continues to grow as plant-based diets become increasingly popular worldwide. The market scope is expected to see substantial growth across regions, where consumer awareness of environmental and ethical issues is particularly high. As per market analysis, the expansion of plant-based alternatives into various categories, including dairy, meat, snacks, and ready-to-eat meals, is further broadening the market's potential. Ongoing innovations in food science are driving product diversification, making vegan foods more palatable and nutritious, which is appealing to a wider range of consumers.

In addition to this, the increasing demand for clean-label, organic, and non-GMO products is expected to intersect with the growth of the vegan market, providing further opportunities. With continued investments from major food manufacturers and start-ups, the market scope is poised for sustained growth, driven by a combination of ethical considerations, health trends, and advancements in food technology.

𝐕𝐢𝐞𝐰 𝐅𝐮𝐥𝐥 𝐑𝐞𝐩𝐨𝐫𝐭 𝐰𝐢𝐭𝐡 𝐓𝐎𝐂 & 𝐋𝐢𝐬𝐭 𝐨𝐟 𝐅𝐢𝐠𝐮𝐫𝐞: https://www.imarcgroup.com/vegan-food-market

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 product, source, and distribution channel.

𝐁𝐫𝐞𝐚𝐤𝐮𝐩 𝐛𝐲 𝐏𝐫𝐨𝐝𝐮𝐜𝐭:

• 𝐃𝐚𝐢𝐫𝐲 𝐀𝐥𝐭𝐞𝐫𝐧𝐚𝐭𝐢𝐯𝐞𝐬

o Cheese
o Desserts
o Snacks
o Others

• 𝐌𝐞𝐚𝐭 𝐒𝐮𝐛𝐬𝐭𝐢𝐭𝐮𝐭𝐞𝐬

o Tofu
o Texturized Vegetable Protein (TVP)
o Seiten
o Quorn
o Others

• 𝐎𝐭𝐡𝐞𝐫𝐬

𝐌𝐞𝐚𝐭 𝐬𝐮𝐛𝐬𝐭𝐢𝐭𝐮𝐭𝐞𝐬 dominate the vegan food market

𝐁𝐫𝐞𝐚𝐤𝐮𝐩 𝐛𝐲 𝐒𝐨𝐮𝐫𝐜𝐞:

• Almond
• Soy
• Oats
• Wheat
• Others

According to the report, 𝐬𝐨𝐲 accounted for the largest market share.

𝐁𝐫𝐞𝐚𝐤𝐮𝐩 𝐛𝐲 𝐃𝐢𝐬𝐭𝐫𝐢𝐛𝐮𝐭𝐢𝐨𝐧 𝐂𝐡𝐚𝐧𝐧𝐞𝐥:

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

The majority of the vegan food is distributed through 𝐬𝐮𝐩𝐞𝐫𝐦𝐚𝐫𝐤𝐞𝐭𝐬 𝐚𝐧𝐝 𝐡𝐲𝐩𝐞𝐫𝐦𝐚𝐫𝐤𝐞𝐭𝐬.

𝐁𝐫𝐞𝐚𝐤𝐮𝐩 𝐛𝐲 𝐑𝐞𝐠𝐢𝐨𝐧:

• North America (USA, Canada)
• Europe (Germany, France, UK, Italy, Spain, Russia, others)
• Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, others)
• Middle East/Africa
• Latin America (Brazil, Mexico, others)

𝐍𝐨𝐫𝐭𝐡 𝐀𝐦𝐞𝐫𝐢𝐜𝐚 exhibits a clear dominance in the market

𝐊𝐞𝐲 𝐇𝐢𝐠𝐡𝐥𝐢𝐠𝐡𝐭𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐑𝐞𝐩𝐨𝐫𝐭:

• Market Performance (2018-2023)
• Market Outlook (2024-2032)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

𝐂𝐨𝐧𝐭𝐚𝐜𝐭 𝐔𝐒:

IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
𝐄𝐦𝐚𝐢𝐥: sales@imarcgroup.com
𝐓𝐞𝐥 𝐍𝐨:(𝐃) +91 120 433 0800
𝐔𝐧𝐢𝐭𝐞𝐝 𝐒𝐭𝐚𝐭𝐞𝐬: +1-631-791-1145

𝐀𝐛𝐨𝐮𝐭 𝐔𝐒:

IMARC Group is a global management consulting firm that helps the world's most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services.

IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.

This release was published on openPR.