Vegan Food Market Growth Rate, Business Driving Factors and Research Report, 2025

Felton, Calif., USA, Feb. 01, 2021 — /EPR Network/ —

The global Vegan Food Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.

Market Overview:

The global vegan food market was worth USD 12.69 billion, in 2018. The market is expected to grow with a CAGR of 9.6% over the forecast period to reach USD 24.06 billion by 2025, according to a new report by Million Insights. Growing awareness among consumers about the benefits of a vegetarian diet is fueling the growth of the market. Growing demand for vegan products from these regions is a key factor supplementing the growth of the market.

Key Players:

• Amy’s Kitchen
• Danone S.A
• The Archer Daniels Midland Company
• Daiya Foods Inc.
• Beyond Meat
• Tofutti Brands Inc.
• Plamil Foods Ltd.
• VBites Foods Limited
• Eden Foods Inc.
• VITASOY International Holdings Limited

Request free sample to get a complete analysis of top-performing companies @ https://www.millioninsights.com/industry-reports/global-vegan-food-market/request-sample

Growth Drivers:

Animals are subjected to cruelty in the food industry. The awareness about animal health is gaining traction among consumers owing to the increasing promotion of animal well-being from various non-profit organizations, especially People for the Ethical Treatment of Animals (PETA). This has led to a change in preference among consumers from animal-based food to plant-based food. As reported by the Vegan Society, the demand for meat-free food increased by nearly 1000% from 2012 to 2017. Its popularity has surged significantly, as it was Googled three times more than vegetarian or gluten-free products.

The popularity of vegan products is growing significantly, as either on in three consumers in the United States has stopped the meat consumption or they have reduced it considerably. Disease outbreaks in animals and growing awareness about plant-based foods have resulted in a decline in the consumption of animal foods. Plant-based foods provide benefits against various diseases such as heart diseases, colorectal cancer, strokes and cholesterol. Moreover, consumers diagnosed with certain diseases are mostly prescribed vegan foods.

Product Outlook:

• Dairy Alternatives
  • Cheese
  • Dessert
  • Snacks
• Meat Substitutes
  • Tofu
  • TVP
  • Seiten
  • Quorn

Regional Outlook:

North America held the largest market, in 2018 owing to the increasing vegetarian population in the region and growing awareness among consumers about animal cruelty. Further, the United States has a significant number of lactose-intolerant consumers, which in turn proliferate the demand for dairy products. United States-based Cal-Maine Foods, Inc. reported a loss of USD 74 million owing to rising preferences in the region about plant-based egg-alternatives.

Asia Pacific is set to exhibit the highest CAGR of 12.1% over the forecast period. Increasing health awareness consumers coupled with increasing purchasing power is the primary factor leading to the market growth. Leading players of the world are focusing on strengthening their product portfolio and market presence in Asia Pacific region.

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