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Press Release:

Global Vegan Food Market to Grow at 11.4% During 2021-2026, Propelled by Rising Preference for Plant-Based Diets

COVID-19
The pandemic continues to cause unprecedented disruption across industries worldwide.
Get detailed insights regarding the impact of COVID-19 on the market.

Vegan Food Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026

Global Vegan Food Market Outlook 2021-2026:

The global vegan food market reached a value of US$ 17 Billion in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of 11.4% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor. 

Vegan food consists of various products that are derived or processed from plant-based sources and are commonly consumed as a substitute for regular meat and meat-based products. They are produced using vegetarian ingredients, such as almonds, soy, oats, wheat, tofu, rice, and coconuts, and lack animal-derived products, including milk, eggs, honey and gelatin. A balanced diet with vegan food products is a rich source of vitamins B1, C and E, folic acid, magnesium, and iron while being low in cholesterol and saturated fats.

 

Market Trends and Drivers:

The rising incidences of chronic diseases represent one of the primary factors boosting the sales of vegan food as it helps in maintaining the blood glucose levels and minimizing the risks of stroke, obesity, cholesterol and cancer. Besides this, various non-government organizations (NGOs) are spreading awareness regarding the nutritional benefits of an animal-free diet and promoting farm animal welfare.  This, along with the increasing consciousness among individuals about animal health and cruelty against animals, is catalyzing the vegan food market demand. Moreover, market players are launching a variety of premium-quality vegan food items in numerous flavors and attractive packaging solutions to attract a wider consumer base and expand their product portfolio. Furthermore, there is a significant rise in the need for vegan health and nutrition products to eliminate nutritional deficiencies. This is positively influencing the vegan supplements market and demand for vegan food worldwide. The availability of ready-to-eat (RTE) and packaged vegan products, coupled with extensive promotional activities by celebrities and athletes, is also encouraging the vegan food industry growth. Apart from this, with the growing popularity of the Veganuary Challenge on account of various awareness campaigns and the increasing utilization of social media, restaurants and fast-food outlets are coming up with a vegan-friendly menu, which is anticipated to improve the vegan food market statistics.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global vegan food market report, along with forecasts for growth at the global, regional and country level from 2021-2026. Our report has categorized the market based on product, source and distribution channel.

Breakup by Product:

  • Dairy Alternatives
    • Cheese
    • Desserts
    • Snacks
    • Others
  • Meat Substitutes
    • Tofu
    • Texturized Vegetable Protein (TVP)
    • Seiten
    • Quorn
    • Others
  • Others
     

Meat substitutes currently represent the most popular type of vegan food. This can be attributed to the introduction of a wide array of flavored meat substitutes by manufacturers across the globe.


Breakup by Source:

 

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Note: Values and trends in the above chart consists of dummy data and are only shown here for representation purpose. Kindly contact us for the actual market size and trends.

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  • Almond
  • Soy
  • Oats
  • Wheat
  • Others
     

At present, soy accounts for the majority of the overall market share as it is a rich source of proteins, vitamins and minerals.

Breakup by Distribution Channel:

  • Supermarkets and Hypermarkets
  • Convenience Stores
  • Specialty Stores
  • Online Stores
  • Others
     

At present, the majority of vegan food is distributed through supermarkets and hypermarkets as these stores offer a wide variety of products from different brands under one roof.

Regional Insights:

 

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  • North America
    • United States
    • Canada
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Indonesia
    • Australia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa
     

Region-wise, Europe exhibits a clear dominance in the market due to the growing demand for lactose-free and healthy food products across the region.

Competitive Landscape:

The competitive landscape of the market is characterized by the presence of numerous small and large manufacturers who compete in terms of prices and quality. Some of the leading players are Amy's Kitchen, Inc., Beyond Meat, Inc., Daiya Foods, Inc., Danone SA, Eden Foods, Inc., Plamil Foods Ltd., Archer Daniels Midland Company, Tofutti Brands, Inc., VBites Foods Limited, and Vitasoy Australia Products Pty Ltd.

Report Coverage:

Report Features Details
Base Year of the Analysis 2020
Historical Period 2015-2020
Forecast Period 2021-2026
Units US$ Billion
Segment Coverage Product, Source, Distribution Channel, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Amy's Kitchen, Inc., Beyond Meat, Inc., Daiya Foods, Inc., Danone SA, Eden Foods, Inc., Plamil Foods Ltd., Archer Daniels Midland Company, Tofutti Brands, Inc., VBites Foods Limited, and Vitasoy Australia Products Pty Ltd.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2299
Five User License: US$ 3399
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

1    Preface
2    Scope and Methodology 
    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3    Executive Summary
4    Introduction
    4.1    Overview
    4.2    Key Industry Trends
5    Global Vegan Food Market
    5.1    Market Overview
    5.2    Market Performance
    5.3    Impact of COVID-19
    5.4    Market Forecast
6    Market Breakup by Product 
    6.1    Dairy Alternatives
        6.1.1 Market Trends
        6.1.2 Market Breakup by Type
            6.1.2.1    Cheese
                6.1.2.1.1 Market Trends
                6.1.2.1.2 Market Forecast
            6.1.2.2    Dessert
                6.1.2.2.1 Market Trends
                6.1.2.2.2 Market Forecast
            6.1.2.3    Snacks
                6.1.2.3.1 Market Trends
                6.1.2.3.2 Market Forecast
            6.1.2.4    Others
                6.1.2.4.1 Market Trends
                6.1.2.4.2 Market Forecast
        6.1.3 Market Forecast
    6.2    Meat Substitutes
        6.2.1 Market Trends
        6.2.2 Market Breakup by Type
            6.2.2.1    Tofu
                6.2.2.1.1 Market Trends
                6.2.2.1.2 Market Forecast
            6.2.2.2    TVP
                6.2.2.2.1 Market Trends
                6.2.2.2.2 Market Forecast
            6.2.2.3    Seiten
                6.2.2.3.1 Market Trends
                6.2.2.3.2 Market Forecast
            6.2.2.4    Quorn
                6.2.2.4.1 Market Trends
                6.2.2.4.2 Market Forecast
             6.2.2.5    Others
                6.2.2.5.1 Market Trends
                6.2.2.5.2 Market Forecast
        6.2.3 Market Forecast
    6.3    Others
        6.3.1 Market Trends
        6.3.2 Market Forecast
7    Market Breakup by Source
    7.1    Almond
        7.1.1 Market Trends
        7.1.2 Market Forecast
    7.2    Soy
        7.2.1 Market Trends
        7.2.2 Market Forecast
    7.3    Oats
        7.3.1 Market Trends
        7.3.2 Market Forecast
    7.4    Wheat
        7.4.1 Market Trends
        7.4.2 Market Forecast
    7.5    Others
        7.5.1 Market Trends
        7.5.2 Market Forecast
8    Market Breakup by Distribution Channel
    8.1    Supermarkets and Hypermarkets
        8.1.1 Market Trends
        8.1.2 Market Forecast
    8.2    Convenience Stores
        8.2.1 Market Trends
        8.2.2 Market Forecast
    8.3    Specialty Stores
        8.3.1 Market Trends
        8.3.2 Market Forecast
    8.4    Online Stores
        8.4.1 Market Trends
        8.4.2 Market Forecast
    8.5    Others
        8.5.1 Market Trends
        8.5.2 Market Forecast
9    Market Breakup by Region
    9.1    North America
        9.1.1 United States
           9.1.1.1 Market Trends
           9.1.1.2 Market Forecast
        9.1.2 Canada
           9.1.2.1 Market Trends
           9.1.2.2 Market Forecast
    9.2    Asia Pacific
        9.2.1 China
           9.2.1.1 Market Trends
           9.2.1.2 Market Forecast
        9.2.2 Japan
           9.2.2.1 Market Trends
           9.2.2.2 Market Forecast
        9.2.3 India
           9.2.3.1 Market Trends
           9.2.3.2 Market Forecast
        9.2.4 South Korea
           9.2.4.1 Market Trends
           9.2.4.2 Market Forecast
        9.2.5 Australia
           9.2.5.1 Market Trends
           9.2.5.2 Market Forecast
        9.2.6 Indonesia
           9.2.6.1 Market Trends
           9.2.6.2 Market Forecast
        9.2.7 Others
           9.2.7.1 Market Trends
           9.2.7.2 Market Forecast
    9.3    Europe
        9.3.1 Germany
           9.3.1.1 Market Trends
           9.3.1.2 Market Forecast
        9.3.2 France
           9.3.2.1 Market Trends
           9.3.2.2 Market Forecast
        9.3.3 United Kingdom
           9.3.3.1 Market Trends
           9.3.3.2 Market Forecast
        9.3.4 Italy
           9.3.4.1 Market Trends
           9.3.4.2 Market Forecast
        9.3.5 Spain
           9.3.5.1 Market Trends
           9.3.5.2 Market Forecast
        9.3.6 Russia
           9.3.6.1 Market Trends
           9.3.6.2 Market Forecast
        9.3.7 Others
           9.3.7.1 Market Trends
           9.3.7.2 Market Forecast
    9.4    Latin America
        9.4.1 Brazil
           9.4.1.1 Market Trends
           9.4.1.2 Market Forecast
        9.4.2 Mexico
           9.4.2.1 Market Trends
           9.4.2.2 Market Forecast
        9.4.3 Others
           9.4.3.1 Market Trends
           9.4.3.2 Market Forecast
    9.5    Middle East and Africa
        9.5.1 Market Trends
        9.5.2 Market Breakup by Country
        9.5.3 Market Forecast
10    SWOT Analysis
    10.1    Overview
    10.2    Strengths
    10.3    Weaknesses
    10.4    Opportunities
    10.5    Threats
11    Value Chain Analysis
12    Porters Five Forces Analysis
    12.1    Overview
    12.2    Bargaining Power of Buyers
    12.3    Bargaining Power of Suppliers
    12.4    Degree of Competition
    12.5    Threat of New Entrants
    12.6    Threat of Substitutes
13    Price Indicators
14    Competitive Landscape
    14.1    Market Structure
    14.2    Key Players
    14.3    Profiles of Key Players
        14.3.1    Amy's Kitchen Inc.
           14.3.1.1 Company Overview
           14.3.1.2 Product Portfolio 
        14.3.2    Beyond Meat Inc.
           14.3.2.1 Company Overview
           14.3.2.2 Product Portfolio 
           14.3.2.3 Financials
        14.3.3    Daiya Inc.
           14.3.3.1 Company Overview
           14.3.3.2 Product Portfolio 
        14.3.4    Danone S.A
           14.3.4.1 Company Overview
           14.3.4.2 Product Portfolio 
           14.3.4.3 Financials
           14.3.4.4 SWOT Analysis
        14.3.5    Eden Foods Inc.
           14.3.5.1 Company Overview
           14.3.5.2 Product Portfolio 
        14.3.6    Plamil Foods Ltd.
           14.3.6.1 Company Overview
           14.3.6.2 Product Portfolio 
           14.3.6.3 Financials
        14.3.7    The Archer Daniels Midland Company
           14.3.7.1 Company Overview
           14.3.7.2 Product Portfolio 
           14.3.7.3 Financials
           14.3.7.4 SWOT Analysis
        14.3.8    Tofutti Brands Inc.
           14.3.8.1 Company Overview
           14.3.8.2 Product Portfolio 
           14.3.8.3 Financials
        14.3.9    VBites Foods Limited
           14.3.9.1 Company Overview
           14.3.9.2 Product Portfolio 
           14.3.9.3 Financials
        14.3.10    Vitasoy Australia Products Pty Ltd.
           14.3.10.1 Company Overview
           14.3.10.2 Product Portfolio 
           14.3.10.3 Financials
           14.3.10.4 SWOT Analysis

List of Figures

Figure 1: Global: Vegan Food Market: Major Drivers and Challenges
Figure 2: Global: Vegan Food Market: Sales Value (in Billion US$), 2015-2020
Figure 3: Global: Vegan Food Market: Breakup by Product (in %), 2020
Figure 4: Global: Vegan Food Market: Dairy Alternatives Breakup by Product Type (in %), 2020
Figure 5: Global: Vegan Food Market: Meat Substitutes Breakup by Product Type (in %), 2020
Figure 6: Global: Vegan Food Market: Breakup by Source (in %), 2020
Figure 7: Global: Vegan Food Market: Breakup by Distribution Channel (in %), 2020
Figure 8: Global: Vegan Food Market: Breakup by Region (in %), 2020
Figure 9: Global: Vegan Food Market Forecast: Sales Value (in Billion US$), 2021-2026
Figure 10: Global: Vegan Food (Dairy Alternatives) Market: Sales Value (in Million US$), 2015 & 2020
Figure 11: Global: Vegan Food (Dairy Alternatives) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 12: Global: Vegan Food (Dairy Alternatives - Cheese) Market: Sales Value (in Million US$), 2015 & 2020
Figure 13: Global: Vegan Food (Dairy Alternatives - Cheese) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 14: Global: Vegan Food (Dairy Alternatives - Dessert) Market: Sales Value (in Million US$), 2015 & 2020
Figure 15: Global: Vegan Food (Dairy Alternatives - Dessert) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 16: Global: Vegan Food (Dairy Alternatives - Snacks) Market: Sales Value (in Million US$), 2015 & 2020
Figure 17: Global: Vegan Food (Dairy Alternatives - Snacks) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 18: Global: Vegan Food (Other Dairy Alternatives) Market: Sales Value (in Million US$), 2015 & 2020
Figure 19: Global: Vegan Food (Other Dairy Alternatives) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 20: Global: Vegan Food (Meat Substitutes) Market: Sales Value (in Million US$), 2015 & 2020
Figure 21: Global: Vegan Food (Meat Substitutes) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 22: Global: Vegan Food (Meat Substitutes - Tofu) Market: Sales Value (in Million US$), 2015 & 2020
Figure 23: Global: Vegan Food (Meat Substitutes - Tofu) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 24: Global: Vegan Food (Meat Substitutes - TVP) Market: Sales Value (in Million US$), 2015 & 2020
Figure 25: Global: Vegan Food (Meat Substitutes - TVP) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 26: Global: Vegan Food (Meat Substitutes - Seitan) Market: Sales Value (in Million US$), 2015 & 2020
Figure 27: Global: Vegan Food (Meat Substitutes - Seitan) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 28: Global: Vegan Food (Meat Substitutes - Quorn) Market: Sales Value (in Million US$), 2015 & 2020
Figure 29: Global: Vegan Food (Meat Substitutes - Quorn) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 30: Global: Vegan Food (Other Meat Substitutes) Market: Sales Value (in Million US$), 2015 & 2020
Figure 31: Global: Vegan Food (Other Meat Substitutes) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 32: Global: Vegan Food (Other Vegan Food Products) Market: Sales Value (in Million US$), 2015 & 2020
Figure 33: Global: Vegan Food (Other Vegan Food Products) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 34: Global: Vegan Food (Almond) Market: Sales Value (in Million US$), 2015 & 2020
Figure 35: Global: Vegan Food (Almond) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 36: Global: Vegan Food (Soy) Market: Sales Value (in Million US$), 2015 & 2020
Figure 37: Global: Vegan Food (Soy) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 38: Global: Vegan Food (Oats) Market: Sales Value (in Million US$), 2015 & 2020
Figure 39: Global: Vegan Food (Oats) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 40: Global: Vegan Food (Wheat) Market: Sales Value (in Million US$), 2015 & 2020
Figure 41: Global: Vegan Food (Wheat) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 42: Global: Vegan Food (Others) Market: Sales Value (in Million US$), 2015 & 2020
Figure 43: Global: Vegan Food (Others) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 44: Global: Vegan Food (Supermarkets and Hypermarkets) Market: Sales Value (in Million US$), 2015 & 2020
Figure 45: Global: Vegan Food (Supermarkets and Hypermarkets) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 46: Global: Vegan Food (Convenience Stores) Market: Sales Value (in Million US$), 2015 & 2020
Figure 47: Global: Vegan Food (Convenience Stores) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 48: Global: Vegan Food (Specialty Stores) Market: Sales Value (in Million US$), 2015 & 2020
Figure 49: Global: Vegan Food (Specialty Stores) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 50: Global: Vegan Food (Online Stores) Market: Sales Value (in Million US$), 2015 & 2020
Figure 51: Global: Vegan Food (Online Stores) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 52: Global: Vegan Food (Other Distribution Channels) Market: Sales Value (in Million US$), 2015 & 2020
Figure 53: Global: Vegan Food (Other Distribution Channels) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 54: North America: Vegan Food Market: Sales Value (in Million US$), 2015 & 2020
Figure 55: North America: Vegan Food Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 56: United States: Vegan Food Market: Sales Value (in Million US$), 2015 & 2020
Figure 57: United States: Vegan Food Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 58: Canada: Vegan Food Market: Sales Value (in Million US$), 2015 & 2020
Figure 59: Canada: Vegan Food Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 60: Asia Pacific: Vegan Food Market: Sales Value (in Million US$), 2015 & 2020
Figure 61: Asia Pacific: Vegan Food Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 62: China: Vegan Food Market: Sales Value (in Million US$), 2015 & 2020
Figure 63: China: Vegan Food Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 64: Japan: Vegan Food Market: Sales Value (in Million US$), 2015 & 2020
Figure 65: Japan: Vegan Food Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 66: India: Vegan Food Market: Sales Value (in Million US$), 2015 & 2020
Figure 67: India: Vegan Food Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 68: South Korea: Vegan Food Market: Sales Value (in Million US$), 2015 & 2020
Figure 69: South Korea: Vegan Food Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 70: Australia: Vegan Food Market: Sales Value (in Million US$), 2015 & 2020
Figure 71: Australia: Vegan Food Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 72: Indonesia: Vegan Food Market: Sales Value (in Million US$), 2015 & 2020
Figure 73: Indonesia: Vegan Food Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 74: Others: Vegan Food Market: Sales Value (in Million US$), 2015 & 2020
Figure 75: Others: Vegan Food Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 76: Europe: Vegan Food Market: Sales Value (in Million US$), 2015 & 2020
Figure 77: Europe: Vegan Food Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 78: Germany: Vegan Food Market: Sales Value (in Million US$), 2015 & 2020
Figure 79: Germany: Vegan Food Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 80: France: Vegan Food Market: Sales Value (in Million US$), 2015 & 2020
Figure 81: France: Vegan Food Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 82: United Kingdom: Vegan Food Market: Sales Value (in Million US$), 2015 & 2020
Figure 83: United Kingdom: Vegan Food Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 84: Italy: Vegan Food Market: Sales Value (in Million US$), 2015 & 2020
Figure 85: Italy: Vegan Food Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 86: Spain: Vegan Food Market: Sales Value (in Million US$), 2015 & 2020
Figure 87: Spain: Vegan Food Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 88: Russia: Vegan Food Market: Sales Value (in Million US$), 2015 & 2020
Figure 89: Russia: Vegan Food Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 90: Others: Vegan Food Market: Sales Value (in Million US$), 2015 & 2020
Figure 91: Others: Vegan Food Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 92: Latin America: Vegan Food Market: Sales Value (in Million US$), 2015 & 2020
Figure 93: Latin America: Vegan Food Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 94: Brazil: Vegan Food Market: Sales Value (in Million US$), 2015 & 2020
Figure 95: Brazil: Vegan Food Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 96: Mexico: Vegan Food Market: Sales Value (in Million US$), 2015 & 2020
Figure 97: Mexico: Vegan Food Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 98: Others: Vegan Food Market: Sales Value (in Million US$), 2015 & 2020
Figure 99: Others: Vegan Food Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 100: Middle East and Africa: Vegan Food Market: Sales Value (in Million US$), 2015 & 2020
Figure 101: Middle East and Africa: Vegan Food Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 102: Global: Vegan Food Industry: SWOT Analysis
Figure 103: Global: Vegan Food Industry: Value Chain Analysis
Figure 104: Global: Vegan Food Industry: Porter’s Five Forces Analysis

List of Tables

Table 1: Global: Vegan Food Market: Key Industry Highlights, 2020 and 2026
Table 2: Global: Vegan Food Market Forecast: Breakup by Product (in Million US$), 2021-2026
Table 3: Global: Vegan Food Market Forecast: Dairy Alternatives Breakup by Product Type (in Million US$), 2021-2026
Table 4: Global: Vegan Food Market Forecast: Meat Substitutes Breakup by Product Type (in Million US$), 2021-2026
Table 5: Global: Vegan Food Market Forecast: Breakup by Source (in Million US$), 2021-2026
Table 6: Global: Vegan Food Market Forecast: Breakup by Distribution Channel (in Million US$), 2021-2026
Table 7: Global: Vegan Food Market Forecast: Breakup by Region (in Million US$), 2021-2026
Table 8: Global: Vegan Food Market: Competitive Structure
Table 9: Global: Vegan Food Market: Key Players        

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Key Question Answered in this Report

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.

Based on the source, the global vegan food market has been divided into almond, soy, oats, wheat, and others. Among these, soy represents the largest segment.

Based on the distribution channel, the global vegan food market can be segmented into supermarkets and hypermarkets, convenience stores, specialty stores, online stores, and others.  Currently, supermarkets and hypermarkets exhibit a clear dominance in the market.

On a regional level, the market has been classified into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America, where Europe dominates the global market.

Some of the major players in the global vegan food market include Amy's Kitchen, Inc., Beyond Meat, Inc., Daiya Foods, Inc., Danone SA, Eden Foods, Inc., Plamil Foods Ltd., Archer Daniels Midland Company, Tofutti Brands, Inc., VBites Foods Limited, and Vitasoy Australia Products Pty Ltd.

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