Global Vegan Food Market Report 2022 – Market Forecast, Trends And Strategies

The global vegan food market size is expected to grow from $13.55 billion in 2021 to $14.45 billion in 2022 at a compound annual growth rate (CAGR) of 6.6%. The vegan foods market is expected to grow to $18.73 billion in 2026 at a CAGR of 6.7%.

What is the Global Vegan Food Market?

The vegan market consists of the sale of vegan products and related services for consumption purposes. Vegan products include food and beverages produced without the use of animal ingredients or animal-derived ingredients. Vegan food products include fruits and vegetables, legumes such as peas, beans, plant protein-based tofu and plant protein-based meat.

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What drives the Global Vegan Food Market?

An increase in the concern about the environment among the population is driving the growth of the vegan market. Rearing and breeding of livestock such as pigs, hens, cows, goats in farms contributes to the greenhouse effect. Greenhouse gases are released from agriculture of livestock such as cows and the gases released block the atmospheric heat from escaping which increases the overall temperature. The demand for animal meat requires excess practice of animal farming. Thus, increase in the number of consumers for vegan food, eliminates the demand for excessive animal farming, following a decrease in emission of greenhouse gases in the environment. According to the United States Environmental Protection Agency, in 2018, total gross U.S. greenhouse gas emissions were 6,676.6 million metric tons of carbon dioxide equivalent (MMT CO2 Eq). Thus, an increase in the concern about the environment among the population is driving the growth of the vegan market.

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Global Vegan Food Market Segments
The global vegan food market is segmented:
By Product Substitute: Dairy Alternative, Meat Substitute, Others
By Distribution Channel: Online, Offline
By Source: Wheat, Soy, Oats, Almond, Others
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.

Vegan Food Global Market Report 2022provides market size and growth forecasts for the global vegan food market, global vegan food market share, vegan food market segments and geographies, vegan food market competitive landscape including leading competitors’ revenues, profiles and market shares. The vegan food market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

Global Vegan Food Industry Playersinclude Amy's Kitchen, Vitasoy International Holdings Ltd., Beyond Meat, Tofutti Brands, Plamil Foods Ltd., Danone S.A., Vbites Foods Ltd., Eden Foods Inc., Whitewave Foods Company Inc, Sun Opta Inc. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.