Product ID: SQMIG30I2353
Report ID:
SQMIG30I2353 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
61 |
Figures:
75
Global Vegan Food Market size was valued at around USD 16.5 billion in 2022 and is poised to grow from USD billion 18.23 in 2023 to USD 40.53 billion by 2031, at a CAGR of 10.5% over the forecast period (2024–2031).
Veganism is a recent trend due to the change in consumer consciousness that drives the growth of the vegetarian market. Increased awareness of the benefits of veganism, such as reduced stress hormones, is driving this trend. For instance, based on our analysis we found that, Global Vegan Fair highlights the growing popularity and awareness of veganism as the demand for plant-based alternatives increases and a significant increase in vegan festivals, indicating that this has been embraced and a foodie lifestyle is consumed Research has shown that a vegan diet reduces the risk of heart disease by 32%.
Global health problems such as diabetes and obesity have increased consumer awareness and driven demand for healthier foods, including vegetarian. Lactose intolerance and health consciousness, especially in North America and Europe, have led to an increase in the number of vegetarians, driving further demand Additionally, these products are made exclusively from plant-based ingredients and are generally dairy and meat free. Meat substitutes, which mimic the taste and texture of real meat but are healthier, are on the rise. Tofu, made from soy, wheat and other plant ingredients, generally stands out as a favorite, mirroring pork, chicken and beef. There are plenty of dairy-free options made with almonds, soy, rice and coconut along with milk, cheese and butter options. Milk or its derivatives like herbs, etc. attract the markets, and are increasing due to the growing magic of the herbs, where the many pathogens are increasing. These are the contributors to support the growing market segment of vegan food.
US Vegan Food Market is poised to grow at a sustainable CAGR for the next forecast year.
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Product ID: SQMIG30I2353