May 2024: Beyond which is one of the leading vegan food companies. Declared that it had launched a new Beyond Burger, which is cooked with avocado oil & has a patty made with peas, brown rice, red lentils, and faba beans & is widely available in every retail store worldwide. Meat,
According to MarkNtel Advisors study, The Global Vegan Food Market size was valued at around USD 22.2 Billion in 2023 and is estimated to grow at a CAGR of around 10.5% during the forecast period, i.e., 2024-30.
In the present times, it is being observed that several individuals globally are suffering from diseases like obesity, heart disease, blood pressure issues, etc., owing to their bad lifestyle & eating habits. To overcome the widely increasing health issues & diseases, numerous people are inclining towards healthy habits or foods. As vegan foods are high in fiber, contain less fat & carbs, and help improve the metabolism, individuals are including them in their diet, therefore increasing the vegan foods demand. Also, many of the high-fine dining restaurants, cafes, and food manufacturers are introducing food items & dishes cooked or baked with plant-based ingredients, and are offering several vegan dishes to attract consumers seeking for healthy plant-based diet. Hence, owing to the growing popularity of vegan food among consumers, the Vegan Food Market is destined to drive.
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Key Findings in Vegan Food Market:
| Historical Years | 2019-2022 |
| Base Years | 2023 |
| Forecast Years | 2024-2030 |
| Key Report Highlights | · Market Dimensions & Projections· Pricing Evaluation,· Recent Strategic Moves by Companies,· Primary Stakeholders,· Analysis of Import and Export Trends,· Competitive Landscape Assessment,· Emerging Opportunities,· Market Trends and Indicators |
| Reports Delivery Format | Market research studies from MarkNtel Advisors are offered in PDF, Excel and PowerPoint formats. Within 24 hours of the payment being successfully received, the report will be sent to your email address. |
Vegan Food Market Key Players:
Amy’s Kitchen, Archer Daniels Midland Company, Beyond Meat, Conagra, Inc., Danone S.A., Daiya Foods, Inc., Eden Foods, Inc., Impossible Foods Inc., Kellogg Company, Tofutti Brands, The Hain Celestial Group, Inc., VBites Foods Ltd., and Others
Market Segmentation Overview:
By Product Type
-Dairy Products
-Meat Substitutes
By Distribution Channel
-Online
-Offline
–Convenience Stores
–Specialty Stores
–Supermarkets/Hypermarkets
The Offline segment is predicted to capture the highest revenue share of the Vegan Food Market. Under the offline segment hypermarkets & supermarkets lead the market share due to the high availability of vegan products with clean labels. A large variety of vegan food products are being offered to consumers by big supermarkets & hypermarket chains. These stores have a prominent display sign to indicate the customer towards recently launched vegan food items, thus drawing attention to increasing the sales graph.
Also, supermarkets have a designated display for plant-based items, increasing their visibility to the consumers, and thus attracting the customers to buy them. Also, as in offline stores, the customer gets the freedom to physically examine the product before buying and check all the labels, thus making them the first choice to buy any product.
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By Region
- North America
- South America
- Europe
- The Middle East & Africa
- Asia-Pacific
The Vegan Food Industry Recent Development:
March 2024: Conagra, Inc., introduced a wide variety of new meals, vegetable sides, and snacks at the Natural Products Expo West 2024, This was inspired by the growing culinary trend & popular restaurant dishes. The company’s latest offerings blend quality ingredients, great flavor, and convenience.
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