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The global vegan food market was valued at US$ 17 Billion in 2020.
We expect the global vegan food market to exhibit a CAGR of 11.4% during 2021-2026.
The growing consumer concerns towards cruelty against animals for producing food items, represent one of the key factors driving the global vegan food market.
Sudden outbreak of the COVID-19 pandemic has led to the changing consumer inclination from conventional brick-and-mortar distribution channels towards online retail platforms for the purchase of vegan food products.
Based on the product, the global vegan food market can be bifurcated into dairy alternatives, meat substitutes and others. Currently, meat substitutes hold the majority of the total market share.
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