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Written by Mark Smith » Updated on: September 07th, 2024
The latest report by IMARC Group, titled “Vegan Food Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2024-2032,” offers a comprehensive analysis of the vegan food market share. The report also includes competitor and regional analysis, along with a breakdown of segments within the industry.
The global vegan food market size reached US$ 18.3 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 39.8 Billion by 2032, exhibiting a growth rate (CAGR) of 9.03% during 2024-2032.
Vegan food consists exclusively of plant-based ingredients, omitting all animal products, including meat, dairy, and eggs. This diet emphasizes whole foods derived from plants such as vegetables, fruits, grains, legumes, nuts, and seeds. Vegan food is versatile, serving various uses, from daily meals to special diet plans tailored for those with allergies to dairy or eggs. It is often integrated into cuisines globally, from hearty vegan stews to light, fresh salads.
The advantages of vegan food are manifold; primarily, it's associated with health benefits such as lower risks of heart disease, hypertension, type 2 diabetes, and certain types of cancer. Furthermore, veganism supports environmental sustainability by reducing reliance on animal farming, which is linked to high levels of greenhouse gas emissions, water use, and land degradation.
Request to Get the Sample Report: https://www.imarcgroup.com/vegan-food-market/requestsample
Market Trends:
The increasing awareness of health benefits is driving the global market. Another significant driver is the growing concern over animal welfare. Many consumers are choosing vegan products to avoid the ethical dilemmas associated with animal farming and slaughter. The exposure of inhumane practices in the meat and dairy industries through documentaries and social media campaigns has also played a critical role in shifting consumer preferences towards plant-based options. Environmental sustainability is also a crucial factor influencing the market.
Furthermore, the improvement in the availability and diversity of vegan products has made it easier for consumers to adopt and maintain a vegan lifestyle. Supermarkets and restaurants now offer a wide range of vegan options, from meat substitutes like veggie burgers and vegan sausages to dairy alternatives such as almond milk, oat milk, and vegan cheeses. Besides, emerging innovation in food technology has also spurred market growth by improving the taste, texture, and nutritional content of vegan products, making them more appealing to a broader audience. Startups and established food companies alike are investing in developing new plant-based products that closely mimic the characteristics of animal-based foods, which helps in reducing the barrier for non-vegans to try and switch to plant-based alternatives.
View Full Report with TOC & List of Figure: https://www.imarcgroup.com/vegan-food-market
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Explore Top Companies Blog by IMARC Group:
https://www.imarcgroup.com/vegan-food-manufacturers
Vegan Food Market Segmentation:
Our report has categorized the market based on region, product, source, and distribution channel.
Breakup by Product:
Breakup by Source:
Breakup by Distribution Channel:
Breakup by Region:
Key highlights of the report:
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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