Global vegan food market

Global Vegan Food Market Size, Share, Growth Analysis, By Product(Meat and seafood, creamer), By Distribution Channel(Offline and Online) - Industry Forecast 2023-2030


Report ID: SQMIG30I2353 | Region: Global | Published Date: February, 2024 | Pages: 157 | Tables: 66 | Figures: 75

Global Vegan Food Market Insights

Vegan Food Market size was valued at USD 20.77 billion in 2021 and is poised to grow from USD 22.1 billion in 2022 to USD 36.3 billion by 2030, growing at a CAGR of 6.4% in the forecast period (2023-2030).

Vegan is a type of vegetarianism that prohibits the consumption of any products derived from animals, including honey, collagen, and gelatin. Consumer perceptions of products derived from animals are changing, which may help the vegan food market flourish. Consumers are becoming more aware of the possible benefits of vegan food, such as decreased levels of insulin, cortisol, adrenaline, and other stress- and anxiety-inducing hormones. These products are typically dairy- or meat-free and made from or prepared using only plant-based materials. Products that taste, flavor, and look like real meat but are healthier than meat are called meat substitutes. These goods are being used more frequently as meat and meat-related products substitutes. They typically consist of soy, wheat, and other components. Tofu is probably the most popular meat substitute and is widely used as a substitute for pork, chicken, beef, and other meats. Similarly, dairy-free foods and beverages are made from almonds, soy, rice, coconut, and other sources. Milk, ice cream, cheese, butter, and other dairy alternative-based products are popularly used.

The rise in diabetes, asthma, high blood pressure, and other health issues, as well as the rising obesity rates around the world, has raised consumer awareness of overall health. As a result, demand for all types of healthy food products, including vegan food products, has increased. Also, the number of vegans has increased significantly over the past few years, particularly in industrialized nations like North America and Europe. This group of people is either lactose intolerant or extremely health aware. Thus, the demand for vegan food products is driven by the growth in vegan communities as well as the rising number of health-conscious consumers.

Additionally, since no milk or its byproducts are used in the creation of vegan pasta meals like semolina, carbonara, spaghetti, linguine, and ravioli, lactose intolerant people eat them, helping to increase the market share. Growing demand for vegan chocolates is being attributed to their many health advantages, including their ability to help reduce the classification of plaque and fat in arteries and strengthen the body's defenses against certain bacterial and viral infections, which can increase the market share of vegan foods.

US Vegan Food Market is poised to grow at a sustainable CAGR for the next forecast year.

Market snapshot - 2023-2030

Global Market Size

USD 20.77 billion

Largest Segment

Offline

Fastest Growth

Offline

Growth Rate

6.4% CAGR

Global Vegan Food Market ($ Bn)
Country Share for North America Region (%)
Global Vegan Food Market By Distribution Channel ($ Bn)
Global Vegan Food Market By Distribution Channel (%)

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Global Vegan Food Market Segmental Analysis

Global vegan food market is segmented on the basis of material, product, distribution and region. By product, the market is segmented into meat and seafood, creamer, ice cream and frozen treats, yogurt, cheese, butter, meals, and other products. By distribution channel, market is segmented into offline and online. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Vegan Food Market Analysis by Product

In 2021, the meat and seafood segment contributed the highest market share of more than 35%. The segment is mainly driven by the high demand for meat substitutes made from plants in developed countries like the U.S., U.K., and others. For instance, according to the Plant-Based Food Association, retail sales of meat and fish products have increased 74% in the United States since 2019.

The vegan cheese segment is expected to grow at a CAGR of 10.4% during the forecast period. The demand for vegan cheese is increasing globally as a result of shifting dietary preferences and developing trends in the food and beverage sector. The increased incidence of lactose intolerance and other food-related allergies in both children and adults contributes to consumers' shifting dietary preferences, which is expected to drive the segment's rise. According to the Food Intolerance Network, approximately 70% of the world's population suffered from lactose intolerance in 2019. Vegan cheese, which comes in slices, cubes, shredded, and spread forms, is frequently used in Italian meals including spaghetti, pizzas, croquettes, and Caprese salad. Demand for vegan cheese is significant in countries where Italian cuisine is popular.

Vegan Food Market Analysis by Distribution Channel

In 2021, the offline distribution channel had a larger market share of more than 80%. Convenience stores, specialty stores, hypermarkets, and supermarkets are all included in this section. Overall product sales have increased due to the abundance of supermarkets and hypermarkets. According to ScrapeHero data from November 2021, there are 14,623 supermarkets in the United States, including Walmart, The Kroger Company, and others. Due to accessibility and availability, consumers prefer shopping at physical grocery stores. Customers are also encouraged to shop at offline stores due to the vast selection of products from both domestic and foreign brands and the physical inspection of the product information before any transaction.

Due to the increasing internet adoption, the online distribution channel is anticipated to grow at a CAGR of 11.3% from 2022 to 2028. According to a recent Invesp article, 48% of American consumers purchase at least some of their groceries online, and this number is expected to rise in the near future. As a result, numerous prominent retail chains throughout the globe have made significant investments in online distribution platforms. Additionally, a growing number of online grocery platforms, including Instacart, Amazon Fresh, Tesco, Morrisons Big Basket, and others, are anticipated to increase product sales online and boost segment growth.

Global Vegan Food Market By Distribution Channel, 2021 (%)

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Global Vegan Food Market Regional Insights

In 2021, North America's revenue share was above 35%, which was the highest. The market is mainly driven by growing environmental and animal welfare issues related to the food industry. The prevalence of lactose intolerance in the U.S. is another factor that increases demand for dairy alternatives. According to a study conducted by The University of Alabama in Birmingham, 48% of Americans are lactose intolerant. It is expected that plant-based meals will continue to dominate the market in the United States and Canada thanks to customers' favorable attitudes about them as a result of a rise in social media campaigns and satellite television channels.

Asia Pacific is expected to be the fastest-growing regional market, with a CAGR of 11.5% over the forecast period. The market is primarily driven by consumers' growing health consciousness. Due to substantial development potential, key market players have been focusing on growing their operations in Asia Pacific. For instance, Nestlé launched its plant-based food brand Harvest Gourmet in China in December 2020. The company will offer a wide variety of plant-based goods, such as nuggets, burgers, sausages, and mince. Sales are expected to be boosted by the rising demand for plant-based bread and confectionery products in the Asia-Pacific region. China, Japan, and Australia are the primary contributors to regional growth.

Global Vegan Food Market By Region, 2023-2030
  • Largest
  • Fastest

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Global Vegan Food Market Dynamics

Vegan Food Market Drivers

Growing Adoption of Innovative Food Packaging for Vegan Food Products 

  • The demand for sustainable food packaging materials for meat-free products is rising quickly as vegan eating groups become more environmentally aware. Consumers are starting to place more importance on product labeling changes, thus vegan product manufacturers like Oatly now include carbon labeling on their packaging. Furthermore, No Evil Foods Sacred Serve, a company based in the United States, is investing in the development of new and innovative sustainable packaging materials that can be used on its products.

Growing Consumer Demand for Vegan Products 

  • Consumer awareness of animal abuse is growing. In order to lessen animal cruelty and stop the negative environmental effects of eating animal products, they adopt lifestyles and diets. According to findings in a scientific journal, dairy and meat products account for over 60% of the greenhouse gas emissions produced by agriculture. Adopting a vegan diet also lessens the use of animals for the production of food. Also, the COVID-19 pandemic epidemic increased demand for vegan products due to growing consumer concerns about zoonotic infections. As consumers become more conscious of the food products they consume, they conduct studies to understand the potential health effects. For example, based on information provided by Google AdWords, there was the growth of 47% in searching for vegan types of food products.

Vegan Food Market Restraints

Vegan food products are expensive and have other drawbacks 

  • Plant-based substitutes are created and released by a number of manufacturers, but their costs are disproportionately greater than those of foods made from animals. Foods made from plants have a considerably different flavor and texture than those made from animals, which makes them less desirable. As a result, the market for vegan cuisine expects gradual consumer adoption. Certain vitamin deficits are also linked to vegan dietary products. Anemia, hormone imbalances, Vitamin B12 deficiency, and other health problems can occasionally result from a vegan diet's low protein level. As a result, consumers must seek assistance from medical professionals who can offer a strategy based on the vegan-food pyramid and guarantee that they receive a balanced and healthy diet.

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Global Vegan Food Market Competitive Landscape

Global vegan food market is highly fragmented and competitive. To capture a significant portion of the market, major industry players are concentrating on product developments, new product launches, and geographic expansions. The rising demand for plant-based food has expanded the opportunities for manufacturers all around the world. Thus, in this market, product innovation has been a key competitive strategy.

Vegan Food Market Top Player’s Company Profiles

  • Beyond Meat
  • Impossible Foods
  • Daiya Foods Inc.
  • Tofurky
  • Amy's Kitchen
  • The Hain Celestial Group
  • Garden Protein International Inc.
  • Follow Your Heart
  • Gardein
  • MorningStar Farms
  • Lightlife Foods
  • Field Roast Grain Meat Co.
  • Sweet Earth Foods
  • JUST Inc.
  • Quorn Foods
  • Oatly AB
  • Violife Foods
  • Califia Farms
  • Miyoko's Creamery
  • The Vegetarian Butcher

Vegan Food Market Recent Developments

  • In July 2021, Upfield launched the vegan cheese brand Violife in the Middle East. The brand is an allergen-free dairy replacement that comes in slices, cartons, and grated form in two flavors: cheddar and mozzarella.
  • In March 2020, Treeline Cheese launched a line of plant-based cream cheese made with cultured cashew nuts and other plant-based components.  Three flavors are offered: plain, chive and onion, and strawberry.
  • In May 2021, Target introduced its new plant-based brand Good & Gather. Under the brand, 30 plant-based products were launched.
  • In February 2021, Dannon, a French firm, acquired Follow Your Heart for $6 million. This acquisition helps the business in enhancing its capacity to create and introduce cutting-edge vegan products to the market.

Global Vegan Food Key Market Trends

  • The rising incidences of chronic diseases are one of the fundamental drivers driving vegan food sales, as it helps to manage blood glucose levels while lowering the risks of stroke, obesity, cholesterol, and cancer. In addition, a number of non-governmental organizations (NGOs) are promoting the welfare of farm animals and raising awareness of the nutritional advantages of an animal-free diet. This is accelerating the market demand for the product, combined with people's growing awareness of animal welfare and cruelty to animals. To draw in a larger consumer base and broaden their product offering, market players are also releasing a number of high-quality vegan food products in a variety of flavors. Additionally, the demand for vegan health and nutrition products has significantly increased in order to address nutritional deficiencies. The market for vegan supplements and the demand for vegan food globally are both being positively impacted by this. Along with extensive marketing campaigns by celebrities and athletes, ready-to-eat (RTE) and packaged vegan products are also helping the market grow. In addition, restaurants and fast-food outlets are developing vegan-friendly menus in response to the growing popularity of the Veganuary Challenge due to numerous awareness initiatives and the increased use of social media, which is projected to boost the statistics for the market.
  • Making meat using cell-based technology is one of the trends in the vegan market. Cell-by-cell similar meat is manufactured in factories without the use of animals. Cell-based meat production involves providing nutrients and proteins to the animal cells, which eliminates the need to rely on animals for meat. For example, in October 2022, a US-based pet food producer unveiled the chicken broth topper, a cellular-based meat broth topper for dogs that will replace factory-framed items with cruelty-free cell-based solutions to the problems associated with the poor quality and contamination of pet food. Tyson Foods, a poultry, beef, and pork processor and marketer based in the United States, is one of the primary players investing in Memphis Meats to promote cell-based meat production.

Global Vegan Food Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.

According to our global vegan food market analysis, in 2021, the meat and seafood segment contributed the highest market share more than 35%. The increased incidence of lactose intolerance and other food-related allergies in both children and adults contributes to consumers' shifting dietary preferences, which is expected to drive the segment's rise. In 2021, the offline distribution channel had a larger market share of more than 80%. Overall product sales have increased due to the abundance of supermarkets and hypermarkets. Asia Pacific is expected to be the fastest-growing regional market, with a CAGR of 11.5% over the forecast period. The market is primarily driven by consumers' growing health consciousness. Due to substantial development potential, key market players have been focusing on growing their operations in Asia Pacific. In 2021, North America's revenue share was above 35%, which was the highest. The market is mainly driven by growing environmental and animal welfare issues related to the food industry. Making meat using cell-based technology is one of the trends in the vegan market. Cell-by-cell similar meat is manufactured in factories without the use of animals. Cell-based meat production involves providing nutrients and proteins to the animal cells, which eliminates the need to rely on animals for meat.

Report Metric Details
Market size value in 2021 USD 20.77 billion
Market size value in 2030 USD 36.3 billion
Growth Rate 6.4%
Base year 2021
Forecast period 2023-2030
Forecast Unit (Value) USD Billion
Segments covered
  • Product
    • Meat and seafood, creamer, ice cream and frozen treats, yogurt, cheese, butter, meals, and other products
  • Distribution Channel
    • Offline and Online
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Beyond Meat
  • Impossible Foods
  • Daiya Foods Inc.
  • Tofurky
  • Amy's Kitchen
  • The Hain Celestial Group
  • Garden Protein International Inc.
  • Follow Your Heart
  • Gardein
  • MorningStar Farms
  • Lightlife Foods
  • Field Roast Grain Meat Co.
  • Sweet Earth Foods
  • JUST Inc.
  • Quorn Foods
  • Oatly AB
  • Violife Foods
  • Califia Farms
  • Miyoko's Creamery
  • The Vegetarian Butcher
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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Global Vegan Food Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Global Vegan Food Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Global Vegan Food Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Vegan Food Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Vegan Food Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Global Vegan Food Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQ's

Vegan Food Market size was valued at USD 20.77 billion in 2021 and is poised to grow from USD 22.1 billion in 2022 to USD 36.3 billion by 2030, growing at a CAGR of 6.4% in the forecast period (2023-2030).

Global vegan food market is highly fragmented and competitive. To capture a significant portion of the market, major industry players are concentrating on product developments, new product launches, and geographic expansions. The rising demand for plant-based food has expanded the opportunities for manufacturers all around the world. Thus, in this market, product innovation has been a key competitive strategy. 'Beyond Meat', 'Impossible Foods', 'Daiya Foods Inc.', 'Tofurky', 'Amy's Kitchen', 'The Hain Celestial Group', 'Garden Protein International Inc.', 'Follow Your Heart', 'Gardein', 'MorningStar Farms', 'Lightlife Foods', 'Field Roast Grain Meat Co.', 'Sweet Earth Foods', 'JUST Inc.', 'Quorn Foods', 'Oatly AB', 'Violife Foods', 'Califia Farms', 'Miyoko's Creamery', 'The Vegetarian Butcher'

The demand for sustainable food packaging materials for meat-free products is rising quickly as vegan eating groups become more environmentally aware. Consumers are starting to place more importance on product labeling changes, thus vegan product manufacturers like Oatly now include carbon labeling on their packaging. Furthermore, No Evil Foods Sacred Serve, a company based in the United States, is investing in the development of new and innovative sustainable packaging materials that can be used on its products.

The rising incidences of chronic diseases are one of the fundamental drivers driving vegan food sales, as it helps to manage blood glucose levels while lowering the risks of stroke, obesity, cholesterol, and cancer. In addition, a number of non-governmental organizations (NGOs) are promoting the welfare of farm animals and raising awareness of the nutritional advantages of an animal-free diet. This is accelerating the market demand for the product, combined with people's growing awareness of animal welfare and cruelty to animals. To draw in a larger consumer base and broaden their product offering, market players are also releasing a number of high-quality vegan food products in a variety of flavors. Additionally, the demand for vegan health and nutrition products has significantly increased in order to address nutritional deficiencies. The market for vegan supplements and the demand for vegan food globally are both being positively impacted by this. Along with extensive marketing campaigns by celebrities and athletes, ready-to-eat (RTE) and packaged vegan products are also helping the market grow. In addition, restaurants and fast-food outlets are developing vegan-friendly menus in response to the growing popularity of the Veganuary Challenge due to numerous awareness initiatives and the increased use of social media, which is projected to boost the statistics for the market.

In 2021, North America's revenue share was above 35%, which was the highest. The market is mainly driven by growing environmental and animal welfare issues related to the food industry. The prevalence of lactose intolerance in the U.S. is another factor that increases demand for dairy alternatives. According to a study conducted by The University of Alabama in Birmingham, 48% of Americans are lactose intolerant. It is expected that plant-based meals will continue to dominate the market in the United States and Canada thanks to customers' favorable attitudes about them as a result of a rise in social media campaigns and satellite television channels.

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Global vegan food market

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