The global vegan food market reached a value of US $ 17 billion in 2020 and expects the market to grow at a CAGR of 11.4% during 2021-2026.
According to the latest report of the IMARC group, entitled “Vegan food market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026 ”, the global vegan food market size reached US $ 17 billion in 2020. Due to the above-mentioned factors, the market is expected to grow at a CAGR by 11.4% in 2021-2026. Vegan food refers to a variety of foods that do not contain dairy or meat. These food products are generally processed and derived from plant sources which largely replace regular dairy and meat products. They generally have a similar flavor, taste, and texture, but are much healthier than their conventional counterparts. They are rich in iron, magnesium, folic acid and vitamins B1, C and E. They are also characterized by a low concentration of cholesterol and saturated fat. As a result, they are widely used in the preparation of many dishes.
We regularly monitor the direct effect of COVID-19 on the market, as well as the indirect influence of related industries. These observations will be incorporated into the report.
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Global Vegan Food Market Trends:
The global market is mainly driven by the growing awareness of health care among the masses. With the increasing incidence of lifestyle-related illnesses globally, many people are actively seeking healthier substitutes for regular food items to incorporate into their regular meals. This, along with the widespread awareness of the multiple health benefits associated with plant-based diets, is driving the growth of the market. The market is further fueled by the many initiatives undertaken by non-governmental organizations (NGOs) to promote awareness of the prevention of cruelty to animals and encourage the adoption of vegan food products. In addition, several key players are now bringing top quality vegan food substitutes, available in various flavors and innovative packaging solutions, to the market. This, together with the aggressive promotional activities carried out by suppliers and the growing number of celebrity and athlete sponsorships, creates positive prospects for the market. Some of the other factors contributing to the growth of the market include rapid urbanization, increasing per capita income levels, advent of ready-to-eat (RTE) vegan foods in the market, and easy availability of products through the channels. online and offline retail.
Explore the full report with table of contents and list of figures: https://www.imarcgroup.com/vegan-food-market
Key market segmentation:
The competitive landscape of the market has been studied in the report along with the detailed profiles of the major players operating in the market.
Some of these key players include:
? Amy’s Kitchen, Inc.
? Beyond Meat, Inc.
? Daiya Foods, Inc.
? Danone SA
? Eden Foods, Inc.
? Plamil Foods Ltd.
? Archer Daniels Midland Company
? Brands Tofutti, Inc.
? VBites Foods Limited
? Vitasoy Australia Products Pty Ltd
Breakdown by product:
? Dairy alternatives (cheeses, desserts, snacks, others)
? Meat substitutes (tofu, textured vegetable protein (TVP), seiten, quorn, others)
Breakdown by source:
Breakdown by distribution channel:
? Supermarkets and hypermarkets
? Convenience Stores
? Specialty stores
? Online stores
Breakdown by region:
? North America (United States, Canada)
? Asia-Pacific (China, Japan, India, Australia, Indonesia, Korea, others)
? Europe (Germany, France, United Kingdom, Italy, Spain, Others)
? Latin America (Brazil, Mexico, others)
? Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, others)
Highlights of the report:
? Market performance (2015-2020)
? Market Outlook (2021-2026)
? Impact of COVID-19 on the market
? Porter’s Five Forces Analysis
? Historical, current and future market trends
? Market drivers and success factors
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as part of the customization.
The IMARC group is a leading market research company providing management strategies and market research worldwide. We partner with clients across industries and regions to identify their most exciting opportunities, address their most critical challenges and transform their businesses.
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Version number: 89043169
COMTEX_392211947 / 2773 / 2021-08-25T21: 46: 51