Vegan Food Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F Segmented By Product Type (Dairy Alternative, Meat Substitute, Vegan Bakery, Vegan Confectionery, Others (include Egg Alternative, Plant-Based Snacks etc.)), By Source (Wheat, Soy, Oats, Almond, Nuts, Others (include Pulses, Quinoa, Brown & Wild Rice, etc.)), By Distribution Channel (Hypermarkets/Supermarkets, Convenience Stores, Specialty Stores, Online, Others (include direct sales, Distributor sales, etc.)), By Region, Competition

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Report Description

Report Description

The global vegan food market is anticipated to project robust growth in the forecast period on account of increasing awareness and popularity of plant-based products, and surging number of dietary greenhouse-gas emissions which is significantly contributing to the global warming. Therefore, the focus of growing awareness among the consumers for the significance of consuming vegan products is constantly on boost.

According to 2018 study, that was published in Elementa: Science of the Anthropocene, the production of food grains is enough to sustain the 9.7 billion people that will inhabit the planet by the year 2050. According to the study, livestock consume approximately 34% of the world's crop yield. Humans only eat less than half of the cereals produced worldwide.

The market is witnessing a sudden surge in the number of vegan meals eaten at lunch or dinner which soared at 46% between 2019 and 2020. Moreover, the facts stated by the Vegan Society says in 2022, the Grocer reported that vegan food sales at Aldi were 500% higher in January that year than in January 2021. Aldi also reported a 250% increase in vegan sales in 2021 compared with 2020. Sales are set to increase throughout 2022, as the vegan range expanded for Veganuary by 50% in response to demand. In 2021, the European Consumer Survey on Plant-based Foods, published by ProVeg International, found that the UK's purchase and consumption rates of plant milk, meat substitute, vegan margarine, vegan cheese, vegan ready meals/food to go and seafood alternatives are the highest in Europe.

Due to the COVID-19 pandemic's effects in the first half of 2020, the market witnessed a significant growth to the vegan food market in comparison to the growth estimates for 2019. For instance, as a means of preventing the spread of the virus, the use of products like which are less virus affecting and more flexitarian diets were widely preferred.


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Growing Health Consciousness influencing shift towards Vegan Products

The market is expanding as a result of the wide availability of options in the product category to satisfy particular needs linked to the issue of obesity and age requirements as well as the rising popularity of plant-based products. Animal products have a significantly more fat than those made from plants. It is not surprising that population studies reveal that meat-eaters have an obesity rate that is three times higher than that of vegetarians, and nine times higher than that of vegans because vegetarian diets are the only diets that are effective for long-term weight loss. According to a meta-analysis, following a vegan diet for three months resulted in lower blood sugar levels and an average body weight loss of 4.1 kg (9 lb) compared to control diets.

Innovating Offerings Aiding the Market Growth

A significant factor in the market's growth is the accelerating demand for the launch of new and innovative products by major companies within each of the product category. For instance, in terms of meat substitute category, the plant-based chicken breast from UK-based vegan meat firm Meatless Farm came up with one of the new vegan items in this category that reached the stores in time for “Veganuary 2022” which is termed as a Booster for New Vegan Products in January. The Meatless Farm's entry into the white meat market with plant-based protein chicken breast broadens the range of vegan chicken substitutes. Additionally, Heura, a leader in Spanish alternative meat, introduced vegan chorizo and sausage for Veganuary 2022, marking the company's first-ever plant-based pig goods.

Similarly, for the category of vegan snacks, the American doughnut brand Krispy Kreme has launched a new line of vegan doughnuts for Irish customers in 2022. Fudge Brownie Bliss, Caramel Choc Delight, and Apple Custard Crumble are available on the chain's vegan menu.

Rising Investment in Vegan Food Market Driving the Market Growth

Numerous businesses identify potential areas in the international vegan industry for their nations and develop regional strategy. Local data indicates that nations like United Kingdom, the United States, and Germany are ahead in the manufacturing and consumption of vegan products, with certain businesses experiencing phenomenal compound yearly growth rates. However, outside of the major markets, a quiet but escalating vegan movement is occurring across the majority of the globe. For instance, Let's Plant Meat in Thailand has led the country's developing plant-based business since its start by creating vegan meat substitutes including burgers, mince, and katsu with locally sourced ingredients.

Market Segmentation

The global vegan food market is segmented based on product type, source, distribution channel, region, and competitional landscape. Based on product type, the market is further fragmented into dairy alternative, meat substitute, vegan bakery, vegan confectionery, other (includes egg alternative, plant-based snacks etc.). Based on source, the market is categorized into wheat, soy, oats, almond, nuts, others (includes, pulses, quinoa, brown & wild rice, etc.). based on distribution channels, the market is segmented into supermarkets/hypermarkets, specialty stores, convenience stores, online, and others (includes direct sales, distributor sales, etc.). The market analysis also studies the regional segmentation to devise regional market segmentation, divided among North America, Europe, Asia-Pacific, South America, and Middle East & Africa.

Company Profiles

Danone S.A., Amy’s Kitchen, Inc. (U.S.), Archer Daniels Midland Company, Beyond Meat Inc. (U.S.), The Hain Celestial Group, Inc. (U.S.), Earth’s Own Food Company Inc. (Canada), Daiya Foods Inc., Vitasoy International Holdings Ltd., VBIte Food Ltd (U.K.), Sun Opta Inc., are among the major market players in the global vegan food market. Various companies are offering a wide variety of vegan food such as, etc. To remain competitive in the market companies are focusing on maximizing their reach. For instance, the plant-based company Beyond Meat plans to increase the availability of their Beyond Burger at 2,000 additional retail locations through Tesco, Sainsbury's, and Asda, three of the Big 4 supermarkets. The Beyond Burger is now being rolled out in an additional 1,512 Tesco locations, 413 Sainsbury's locations, and 98 Asda locations as the company celebrates World Vegan Day. The Beyond Burger won Best Vegan Patty at the Women's Health Sorts Nutrition Awards 2022.

Attribute

Details

Base Year

2022

Historical Years

2018 – 2021

Estimated Year

2023

Forecast Period

2024 – 2028

Quantitative Units

Revenue in USD Billion and CAGR for 2018-2022 and 2023-2028

Report Coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments Covered

Product Type

Source

Distribution Channel

Region

Company

Regional Scope

North America, Europe, Asia-Pacific, Middle East & Africa and South America

Country Scope

United States; Canada; Mexico; Germany; France; United Kingdom; Italy; China; India; Japan; South Korea; Australia, Saudi Arabia; UAE, South Africa, Brazil; Argentina; Colombia

Key Companies Profiled

Danone S.A., Amy’s Kitchen, Inc. (U.S.), Archer Daniels Midland Company, Beyond Meat Inc. (U.S.), The Hain Celestial Group, Inc. (U.S.), Earth’s Own Food Company Inc. (Canada), Daiya Foods Inc., Vitasoy International Holdings Ltd., VBIte Food Ltd (U.K.), Sun Opta Inc.

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Report Scope:

In this report, the global vegan food market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

  • Vegan food Market, By Product Type:
    • Dairy Alternative
    • Meat Substitute
    • Vegan Bakery
    • Vegan Confectionery
    • Others
  • Vegan food Market, By Source:
    • Wheat
    • Soy
    • Oats
    • Almond
    • Nuts
    • Others
  • Vegan food Market, By Distribution Channel:
    • Hypermarkets/Supermarkets
    • Convenience Stores
    • Specialty Stores
    • Online
    • Others
  • Vegan food Market, By Region:
    • North America
      • The United States
      • Canada
      • Mexico
    • Europe
      • United Kingdom
      • Germany
      • France
      • Italy
      • Spain
      • Switzerland
      • Netherland
    • Asia-Pacific
      • China
      • India
      • Japan
      • South Korea
      • Australia
      • Vietnam
    • South America
      • Brazil
      • Argentina
      • Colombia
    • Middle East & Africa
      • Israel
      • Saudi Arabia
      • South Africa
      • UAE
      • Turkey

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the global vegan food market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

Vegan Food Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

Table of content

1.    Introduction

1.1.  Product Overview

1.2.  Key Highlights of the Report

1.3.  Market Coverage

1.4.  Market Segments Covered

1.5.  Research Tenure Considered

2.    Research Methodology

2.1.  Objective of the Study

2.2.  Baseline Methodology

2.3.  Key Industry Partners

2.4.  Major Association and Secondary Sources

2.5.  Forecasting Methodology

2.6.  Data Triangulation & Validation

2.7.  Assumptions and Limitations

3.    Executive Summary         

3.1.  Market Overview

3.2.  Market Forecast

3.3.  Key Regions

3.4.  Key Segments

4.    Voice of Customer Analysis

4.1.  Sample Size Determination

4.1.1.     Respondent Demographics

4.1.2.     By Gender

4.1.3.     By Age

4.1.4.     By Occupation

4.2.  Brand Awareness

4.3.  Factors Influencing Purchase Decision

4.4.  Customer Satisfaction

4.5.  Challenges Faced Post Purchase

5.    Global Vegan Food Market Outlook

5.1.  Market Size & Forecast

5.1.1.     By Value          

5.2.  Market Share & Forecast

5.2.1.     By Product Type Market Share Analysis (Dairy Alternative, Meat Substitute, Vegan Bakery, Vegan Confectionery, Others (include Egg Alternative, Plant-Based Snacks etc.))

5.2.2.     By Source Market Share Analysis (Wheat, Soy, Oats, Almond, Nuts, Others (include Pulses, Quinoa, Brown & Wild Rice, etc.))

5.2.3.     By Distribution Channel Market Share Analysis (Hypermarkets/Supermarkets, Convenience Stores, Specialty Stores, Online, Others (include Direct Sales, Distributor sales, etc.))

5.2.4.     By Regional Market Share Analysis

5.2.4.1.         North America Market Analysis

5.2.4.2.         Europe Market Analysis

5.2.4.3.         Asia -Pacific Market Analysis

5.2.4.4.         South America Market Analysis

5.2.4.5.         Middle East & Africa Market Analysis

5.2.5.     By Company Market Share Analysis

5.3.  Global Vegan Food Market Mapping & Opportunity Assessment

5.3.1.     By Product Type Market Mapping & Opportunity Assessment

5.3.2.     By Source Market Mapping & Opportunity Assessment

5.3.3.     By Distribution Channel Market Mapping & Opportunity Assessment

5.3.4.     By Regional Market Mapping & Opportunity Assessment

6.    North America Vegan Food Market Outlook

6.1.  Market Size & Forecast          

6.1.1.     By Value

6.2.  Market Share & Forecast

6.2.1.     By Product Type Market Share Analysis

6.2.2.     By Source Market Share Analysis

6.2.3.     By Distribution Channel Market Share Analysis

6.2.4.     By Country Market Share Analysis

6.2.4.1.         United States Vegan Food Market Outlook

6.2.4.1.1.             Market Size & Forecast

6.2.4.1.1.1. By Value

6.2.4.1.2.             Market Share & Forecast

6.2.4.1.2.1. By Product Type Market Share Analysis

6.2.4.1.2.2. By Source Market Share Analysis

6.2.4.1.2.3. By Distribution Channel Market Share Analysis

6.2.4.2.         Canada Vegan Food Market Outlook

6.2.4.2.1.             Market Size & Forecast

6.2.4.2.1.1. By Value

6.2.4.2.2.             Market Share & Forecast

6.2.4.2.2.1. By Product Type Market Share Analysis

6.2.4.2.2.2. By Source Market Share Analysis

6.2.4.2.2.3. By Distribution Channel Market Share Analysis

6.2.4.3.         Mexico Vegan Food Market Outlook

6.2.4.3.1.             Market Size & Forecast

6.2.4.3.1.1. By Value

6.2.4.3.2.             Market Share & Forecast

6.2.4.3.2.1. By Product Type Market Share Analysis

6.2.4.3.2.2. By Source Market Share Analysis

6.2.4.3.2.3. By Distribution Channel Market Share Analysis

7.    Europe Vegan Food Market Outlook

7.1.  Market Size & Forecast          

7.1.1.     By Value

7.1.2.     By Volume

7.2.  Market Share & Forecast

7.2.1.     By Product Type Market Share Analysis

7.2.2.     By Source Market Share Analysis

7.2.3.     By Distribution Channel Market Share Analysis

7.2.4.     By Country Market Share Analysis

7.2.4.1.         United Kingdom Vegan Food Market Outlook

7.2.4.1.1.             Market Size & Forecast

7.2.4.1.1.1. By Value

7.2.4.1.2.             Market Share & Forecast

7.2.4.1.2.1. By Product Type Market Share Analysis

7.2.4.1.2.2. By Source Market Share Analysis

7.2.4.1.2.3. By Distribution Channel Market Share Analysis

7.2.4.2.         Germany Vegan Food Market Outlook

7.2.4.2.1.             Market Size & Forecast

7.2.4.2.1.1. By Value

7.2.4.2.2.             Market Share & Forecast

7.2.4.2.2.1. By Product Type Market Share Analysis

7.2.4.2.2.2. By Source Market Share Analysis

7.2.4.2.2.3. By Distribution Channel Market Share Analysis

7.2.4.3.         Italy Vegan Food Market Outlook

7.2.4.3.1.             Market Size & Forecast

7.2.4.3.1.1. By Value

7.2.4.3.2.             Market Share & Forecast

7.2.4.3.2.1. By Product Type Market Share Analysis

7.2.4.3.2.2. By Source Market Share Analysis

7.2.4.3.2.3. By Distribution Channel Market Share Analysis

7.2.4.4.         France Vegan Food Market Outlook

7.2.4.4.1.             Market Size & Forecast

7.2.4.4.1.1. By Value

7.2.4.4.2.             Market Share & Forecast

7.2.4.4.2.1. By Product Type Market Share Analysis

7.2.4.4.2.2. By Source Market Share Analysis

7.2.4.4.2.3. By Distribution Channel Market Share Analysis

7.2.4.5.         Spain Vegan Food Market Outlook

7.2.4.5.1.             Market Size & Forecast

7.2.4.5.1.1. By Value

7.2.4.5.2.             Market Share & Forecast

7.2.4.5.2.1. By Product Type Market Share Analysis

7.2.4.5.2.2. By Source Market Share Analysis

7.2.4.5.2.3. By Distribution Channel Market Share Analysis

7.2.4.6.         Switzerland Vegan Food Market Outlook

7.2.4.6.1.             Market Size & Forecast

7.2.4.6.1.1. By Value

7.2.4.6.2.             Market Share & Forecast

7.2.4.6.2.1. By Product Type Market Share Analysis

7.2.4.6.2.2. By Source Market Share Analysis

7.2.4.6.2.3. By Distribution Channel Market Share Analysis

7.2.4.7.         Netherlands Vegan Food Market Outlook

7.2.4.7.1.             Market Size & Forecast

7.2.4.7.1.1. By Value

7.2.4.7.2.             Market Share & Forecast

7.2.4.7.2.1. By Product Type Market Share Analysis

7.2.4.7.2.2. By Source Market Share Analysis

7.2.4.7.2.3. By Distribution Channel Market Share Analysis

8.    Asia-Pacific Vegan Food Market Outlook

8.1.  Market Size & Forecast          

8.1.1.     By Value

8.2.  Market Share & Forecast

8.2.1.     By Product Type Market Share Analysis

8.2.2.     By Source Market Share Analysis

8.2.3.     By Distribution Channel Market Share Analysis

8.2.4.     By Country Market Share Analysis

8.2.4.1.         China Vegan Food Market Outlook

8.2.4.1.1.             Market Size & Forecast

8.2.4.1.1.1. By Value

8.2.4.1.2.             Market Share & Forecast

8.2.4.1.2.1. By Product Type Market Share Analysis

8.2.4.1.2.2. By Source Market Share Analysis

8.2.4.1.2.3. By Distribution Channel Market Share Analysis

8.2.4.2.         Japan Vegan Food Market Outlook

8.2.4.2.1.             Market Size & Forecast

8.2.4.2.1.1. By Value

8.2.4.2.2.             Market Share & Forecast

8.2.4.2.2.1. By Product Type Market Share Analysis

8.2.4.2.2.2. By Source Market Share Analysis

8.2.4.2.2.3. By Distribution Channel Market Share Analysis

8.2.4.3.         India Vegan Food Market Outlook

8.2.4.3.1.             Market Size & Forecast

8.2.4.3.1.1. By Value

8.2.4.3.2.             Market Share & Forecast

8.2.4.3.2.1. By Product Type Market Share Analysis

8.2.4.3.2.2. By Source Market Share Analysis

8.2.4.3.2.3. By Distribution Channel Market Share Analysis

8.2.4.4.         South Korea Vegan Food Market Outlook

8.2.4.4.1.             Market Size & Forecast

8.2.4.4.1.1. By Value

8.2.4.4.2.             Market Share & Forecast

8.2.4.4.2.1. By Product Type Market Share Analysis

8.2.4.4.2.2. By Source Market Share Analysis

8.2.4.4.2.3. By Distribution Channel Market Share Analysis

8.2.4.5.         Australia Vegan Food Market Outlook

8.2.4.5.1.             Market Size & Forecast

8.2.4.5.1.1. By Value

8.2.4.5.2.             Market Share & Forecast

8.2.4.5.2.1. By Product Type Market Share Analysis

8.2.4.5.2.2. By Source Market Share Analysis

8.2.4.5.2.3. By Distribution Channel Market Share Analysis

8.2.4.6.         New Zealand Vegan Food Market Outlook

8.2.4.6.1.             Market Size & Forecast

8.2.4.6.1.1. By Value

8.2.4.6.2.             Market Share & Forecast

8.2.4.6.2.1. By Product Type Market Share Analysis

8.2.4.6.2.2. By Source Market Share Analysis

8.2.4.6.2.3. By Distribution Channel Market Share Analysis

8.2.4.7.         Thailand Vegan Food Market Outlook

8.2.4.7.1.             Market Size & Forecast

8.2.4.7.1.1. By Value

8.2.4.7.2.             Market Share & Forecast

8.2.4.7.2.1. By Product Type Market Share Analysis

8.2.4.7.2.2. By Source Market Share Analysis

8.2.4.7.2.3. By Distribution Channel Market Share Analysis

8.2.4.8.         Vietnam Vegan Food Market Outlook

8.2.4.8.1.             Market Size & Forecast

8.2.4.8.1.1. By Value

8.2.4.8.2.             Market Share & Forecast

8.2.4.8.2.1. By Product Type Market Share Analysis

8.2.4.8.2.2. By Source Market Share Analysis

8.2.4.8.2.3. By Distribution Channel Market Share Analysis

9.     South America Vegan Food Market Outlook

9.1.  Market Size & Forecast          

9.1.1.     By Value

9.2.  Market Share & Forecast

9.2.1.     By Product Type Market Share Analysis

9.2.2.     By Source Market Share Analysis

9.2.3.     By Distribution Channel Market Share Analysis

9.2.4.     By Country Market Share Analysis

9.2.4.1.         Brazil Vegan Food Market Outlook

9.2.4.1.1.             Market Size & Forecast

9.2.4.1.1.1. By Value

9.2.4.1.2.             Market Share & Forecast

9.2.4.1.2.1. By Product Type Market Share Analysis

9.2.4.1.2.2. By Source Market Share Analysis

9.2.4.1.2.3. By Distribution Channel Market Share Analysis

9.2.4.2.         Argentina Vegan Food Market Outlook

9.2.4.2.1.             Market Size & Forecast

9.2.4.2.1.1. By Value

9.2.4.2.2.             Market Share & Forecast

9.2.4.2.2.1. By Product Type Market Share Analysis

9.2.4.2.2.2. By Source Market Share Analysis

9.2.4.2.2.3. By Distribution Channel Market Share Analysis

9.2.4.3.         Colombia Vegan Food Market Outlook

9.2.4.3.1.             Market Size & Forecast

9.2.4.3.1.1. By Value

9.2.4.3.2.             Market Share & Forecast

9.2.4.3.2.1. By Product Type Market Share Analysis

9.2.4.3.2.2. By Source Market Share Analysis

9.2.4.3.2.3. By Distribution Channel Market Share Analysis

10.  Middle East & Africa Vegan Food Market Outlook

10.1.              Market Size & Forecast

10.1.1.  By Value

10.2.              Market Share & Forecast

10.2.1.  By Product Type Market Share Analysis

10.2.2.  By Source Market Share Analysis

10.2.3.  By Distribution Channel Market Share Analysis

10.2.4.  By Country Market Share Analysis

10.2.4.1.      Israel Vegan Food Market Outlook

10.2.4.1.1.           Market Size & Forecast

10.2.4.1.1.1.               By Value

10.2.4.1.2.           Market Share & Forecast

10.2.4.1.2.1.               By Product Type Market Share Analysis

10.2.4.1.2.2.               By Source Market Share Analysis

10.2.4.1.2.3.               By Distribution Channel Market Share Analysis

10.2.4.2.      Saudi Arabia Vegan Food Market Outlook

10.2.4.2.1.           Market Size & Forecast

10.2.4.2.1.1.               By Value

10.2.4.2.2.           Market Share & Forecast

10.2.4.2.2.1.               By Product Type Market Share Analysis

10.2.4.2.2.2.               By Source Market Share Analysis

10.2.4.2.2.3.               By Distribution Channel Market Share Analysis

10.2.4.3.      South Africa Vegan Food Market Outlook

10.2.4.3.1.           Market Size & Forecast

10.2.4.3.1.1.               By Value

10.2.4.3.2.           Market Share & Forecast

10.2.4.3.2.1.               By Product Type Market Share Analysis

10.2.4.3.2.2.               By Source Market Share Analysis

10.2.4.3.2.3.               By Distribution Channel Market Share Analysis

10.2.4.4.      UAE Vegan Food Market Outlook

10.2.4.4.1.           Market Size & Forecast

10.2.4.4.1.1.               By Value

10.2.4.4.2.           Market Share & Forecast

10.2.4.4.2.1.               By Product Type Market Share Analysis

10.2.4.4.2.2.               By Source Market Share Analysis

10.2.4.4.2.3.               By Distribution Channel Market Share Analysis

10.2.4.5.      Turkey Vegan Food Market Outlook

10.2.4.5.1.           Market Size & Forecast

10.2.4.5.1.1.               By Value

10.2.4.5.2.           Market Share & Forecast

10.2.4.5.2.1.               By Product Type Market Share Analysis

10.2.4.5.2.2.               By Source Market Share Analysis

10.2.4.5.2.3.               By Distribution Channel Market Share Analysis

11.  Market Dynamics

11.1.              Drivers

11.1.1.1.      Growing Health Consciousness and shift towards Vegan Products

11.1.1.2.      Increasing Internet penetration Leading to the Demand for Vegan Foods Through E-Commerce Platforms

11.1.1.3.      Rising Availability of Vegan Products

11.2.              Challenges

11.2.1.  Misconception among Consumers that vegan and vegetarian diets lack protein and other viable Nutrients

11.2.2.  High Cost of Vegan Food Products and Low Awareness

12.  Impact of COVID-19 on Global Vegan Food Market

12.1.              Impact Assessment Model       

12.1.1.  Key Segments Impacted

12.1.2.  Key Regions Impacted

12.1.3.  Key Countries Impacted

12.1.4.  Key Distribution Channel Impacted

13.  Market Trends & Developments

13.1.              Innovative Product Launch

13.2.              Growing preference towards Animal Cruelty-Free Products

13.3.              Rapid Urbanization Leading to Change in Dietary Habits

13.4.              Surging interest and Veganuary campaign

13.5.              Rising Investment in Vegan Food Market

14.  Porter’s Five Forces Model

14.1.              Competitive Rivalry

14.2.              Bargaining Power of Buyer

14.3.              Bargaining Power of Supplier

14.4.              Threat of New Entrants

14.1.              Threat of Substitutes

15.  SWOT Analysis

15.1.              Strengths

15.2.              Weaknesses

15.3.              Opportunities

15.4.              Threats

16.  Competitive Landscape

16.1.              Competition Outlook

16.2.              Company Profiles

16.2.1.  Danone S.A.

16.2.1.1.      Company Details

16.2.1.2.      Products & Services

16.2.1.3.      Financial (As reported)

16.2.1.4.      Key Market Focus & Geographical Presence

16.2.1.5.      Recent Developments

16.2.1.6.      Key Management Personnel

16.2.2.  Amy’s Kitchen, Inc. (U.S.)

16.2.2.1.      Company Details

16.2.2.2.      Products & Services

16.2.2.3.      Financial (As reported)

16.2.2.4.      Key Market Focus & Geographical Presence

16.2.2.5.      Recent Developments

16.2.2.6.      Key Management Personnel

16.2.3.  Archer Daniels Midland Company

16.2.3.1.      Company Details

16.2.3.2.      Products & Services

16.2.3.3.      Financial (As reported)

16.2.3.4.      Key Market Focus & Geographical Presence

16.2.3.5.      Recent Developments

16.2.3.6.      Key Management Personnel

16.2.4.  Beyond Meat Inc. (U.S.)

16.2.4.1.      Company Details

16.2.4.2.      Products & Services

16.2.4.3.      Financial (As reported)

16.2.4.4.      Key Market Focus & Geographical Presence

16.2.4.5.      Recent Developments

16.2.4.6.      Key Management Personnel

16.2.5.  The Hain Celestial Group, Inc. (U.S.)

16.2.5.1.      Company Details

16.2.5.2.      Products & Services

16.2.5.3.      Financial (As reported)

16.2.5.4.      Key Market Focus & Geographical Presence

16.2.5.5.      Recent Developments

16.2.5.6.      Key Management Personnel

16.2.6.  Earth’s Own Food Company Inc. (Canada)

16.2.6.1.      Company Details

16.2.6.2.      Products & Services

16.2.6.3.      Financial (As reported)

16.2.6.4.      Key Market Focus & Geographical Presence

16.2.6.5.      Recent Developments

16.2.6.6.      Key Management Personnel

16.2.7.  Daiya Foods Inc.

16.2.7.1.      Company Details

16.2.7.2.      Products & Services

16.2.7.3.      Financial (As reported)

16.2.7.4.      Key Market Focus & Geographical Presence

16.2.7.5.      Recent Developments

16.2.7.6.      Key Management Personnel

16.2.8.  Vitasoy International Holdings Ltd.

16.2.8.1.      Company Details

16.2.8.2.      Products & Services

16.2.8.3.      Financial (As reported)

16.2.8.4.      Key Market Focus & Geographical Presence

16.2.8.5.      Recent Developments

16.2.8.6.      Key Management Personnel

16.2.9.  VBIte Food Ltd (U.K.)

16.2.9.1.      Company Details

16.2.9.2.      Products & Services

16.2.9.3.      Financial (As reported)

16.2.9.4.      Key Market Focus & Geographical Presence

16.2.9.5.      Recent Developments

16.2.9.6.      Key Management Personnel

16.2.10.                Sun Opta Inc.

16.2.10.1.    Company Details

16.2.10.2.    Products & Services

16.2.10.3.    Financial (As reported)

16.2.10.4.    Key Market Focus & Geographical Presence

16.2.10.5.    Recent Developments

16.2.10.6.    Key Management Personnel

17.  Strategic Recommendations/Action Plan

17.1.              Key Focus Areas

17.2.              Target Regions & Countries

17.3.              Target Product Type

17.4.              Target Distribution Channel

Figures and Tables

Frequently asked questions

Frequently asked questions

Vegans, vegetarians, and "flexitarians," who want to eat more plant-centric meals but aren't ready to completely give up meat or other animal products, are all part of the plant-based trend. In general, health and animal rights are the two main reasons people choose these diets, but there are regional variations. For example, while more ethical considerations undoubtedly predominate in markets like the UK and Germany, health considerations are equally significant in the US and Australia.

Among the other regions, Europe will have the highest growth rate. The market for vegan food in Europe is anticipated to present significant business opportunities for the vendors owing to the growing preference for vegan food among the countries like United Kingdom, Germany, Austria, Switzerland and Poland. Moreover, with the excessive native firms increasing presence with the growing veganism within Europe are the factors driving the global vegan food market.

According to the Statista Global Consumer Survey on diets and nutrition in 2022, 15.5 million individuals in the USA, or roughly 5% of the population, follow a vegetarian diet. Around 720,000 people, or around 1.2 percent of the UK population, identify as vegans. Only 1% of Hindus are committed vegans, hence there are only about 5 million vegans in India as a whole. It has been calculated that less than 1% of the world's population is vegan, which is a small percentage compared to some of the world's top economies like the United States, the United Kingdom, and India. Therefore, there will be around 8.0 million vegans worldwide in 2022.

The top 10 players in the global vegan food market are Danone S.A., Amy’s Kitchen, Inc. (U.S.), Archer Daniels Midland Company, Beyond Meat Inc. (U.S.), The Hain Celestial Group, Inc. (U.S.), Earth’s Own Food Company Inc. (Canada), Daiya Foods Inc., Vitasoy International Holdings Ltd., VBIte Food Ltd (U.K.), Sun Opta Inc.

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