Global Vegan Food Market Report 2024, Forecast To 2033
22 Jan, 2024
The vegan food market has experienced rapid growth, ascending from $24.58 billion in 2023 to $27.8 billion in 2024, reflecting a 13.1% CAGR. Historical growth is credited to health awareness, environmental concerns, ethical considerations, rising disposable incomes, globalization of veganism, and government support. Forecasts suggest continued rapid growth to $42.86 billion in 2028, with an 11.4% CAGR. Growth is attributed to social media influence, food allergies, vegan activism, retail expansion, and major trends involving innovative product development, plant-based protein, vegan convenience foods, seafood alternatives, fast food, and personalized nutrition.
Global Vegan Food Market Key Driver
The expanding vegan and vegetarian population drives the growth of the vegan food market. In the US, veganism is practiced by 6%, and nearly one-third of Americans express a willingness to consume more vegan food. This increasing consumer base seeks a plant-based diet, fostering the growth of the vegan food market.
Get A Free Sample Of The Global Vegan Food Market ReportGlobal Vegan Food Market Segments
The vegan food market covered in this report is segmented –
1) By Product Substitute: Dairy Alternative, Meat Substitute, Other Product Substitutes
2) By Source: Wheat, Soy, Oats, Almond, Other Sources
3) By Distribution Channel: Online, Offline
By Geography: The regions covered in the vegan food market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions
Asia-Pacific was the largest region in the vegan food market in 2023. Western Europe was the second-largest region in the vegan food market report. The regions covered in the vegan food market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Major Vegan Food Industry Players
Amy's Kitchen, VITASOY International Holdings Ltd., Beyond Meat, Tofutti Brands Inc., Plamil Foods Ltd., Danone S.A., Eden Foods Inc., Whitewave Foods Company Inc., Sun Opta Inc., Pascual Group, Bhlue Diamond Growers, Archer Daniel Midland Company, Earth's Own Food Company Inc., Panos Brand LLC., Hain Celestial Group Inc., Organic Vallet Corporative, Living Harvest Food Inc., Morningstar Farms, MGP Ingridents Inc., Sonic Biochem Extractions Limited, ADM, DuPont de Nemours Inc., The Nisshin Oillio Group, Schouten Europe, Upside Foods, Alpha Foods, Corbion Biotech Inc., Famleigh Inc., 22 Days Nutrition, Annie's Homegrown, Earth Balance, Field Roast
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Vegan Food Market Overview
Vegan foods are foods that are produced without the use of animal ingredients or animal-derived ingredients.
Vegan Food Global Market Report 2023 provides data on the global vegan food market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The vegan food market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.