You are currently viewing Global Vegan Food Market To Be Driven By The Rising Awareness For Health Benefits In The Forecast Period Of 2023-2028

Global Vegan Food Market To Be Driven By The Rising Awareness For Health Benefits In The Forecast Period Of 2023-2028

The new report by Expert Market Research titled, ‘Global Vegan Food Market Size, Share, Price, Trends, Growth, Report and Forecast 2023-2028’, gives an in-depth analysis of the global vegan food market, assessing the market based on its segments like product types, distribution channels, and major regions.

The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.

The key highlights of the report include:

Market Overview (2018-2028)

• Historical Market Size (2022): USD 24.59 Billion
• Forecast CAGR (2023-2028): 10.1%
• Forecast Market Size (2028): USD 43.8 Billion

Rising awareness of the numerous health benefits of plant-based food products has expanded the customer base of this sector. Plant-based products help maintain blood pressure levels and reduce the risk of heart disease, stroke, prostate cancer, colorectal cancer, cholesterol, and premature death. Manufacturers in the market have launched a range of high-quality food items in various flavors with appealing packaging solutions, which is further aiding the market growth.

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Vegan Food Industry Definition and Major Segments

Vegan food is devoid of eggs, meat, dairy products, and all other animal-derived ingredients. Vegan food and diet advocates are known as vegans. Vegans often refrain from consuming food items that are manufactured using animal products such as refined white sugar and other products.

The market can be divided into the following segments by product types:

• Dairy Alternatives
• Meat Substitutes
• Egg Alternative
• Vegan Bakery
• Confectionery
• Plant-Based Snacks
• Others

On the basis of distribution channel, the market is divided into:

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

The major region in the market are:

• North America
• Latin America
• Europe
• Middle East and Africa
• Asia Pacific

Vegan Food Market Trends

The global demand for vegan food is strengthened by an increasing perception of animal health and exploitation in the food industry, which has contributed to a significant change towards plant-based food products and away from animal-based products. The rising success of the vegan diet and the increasing trend of adopting veganism has resulted in an increased demand for vegan food.

Read Full Report with Table of Contents – https://www.expertmarketresearch.com/reports/vegan-food-market

Key Market Players

The major players in the market are Amy’s Kitchen, Danone S.A (EPA: BN), The Archer Daniels Midland Company (NYSE: ADM), Daiya Foods Inc., Tofutti Brands Inc. (OTCMKTS: TOFB), Ripple Foods Inc., and Earth’s Own Food Company Inc., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of these market players

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Expert Market Research

Expert Market Research is a leading business intelligence firm, providing custom and syndicated market reports along with consultancy services for our clients. We serve a wide client base ranging from Fortune 1000 companies to small and medium enterprises. Our reports cover over 100 industries across established and emerging markets researched by our skilled analysts who track the latest economic, demographic, trade and market data globally. At Expert Market Research, we tailor our approach according to our clients’ needs and preferences, providing them with valuable, actionable and up-to-date insights into the market, thus, helping them realize their optimum growth potential. We offer market intelligence across a range of industry verticals which include Pharmaceuticals, Food and Beverage, Technology, Retail, Chemical and Materials, Energy and Mining, Packaging and Agriculture.