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Vegan Food Market Trends, Top Brands Overview, Growth Strategies, Business Opportunity, Research Report and Forecast 2023-2028

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Vegan Food Market Trends, Top Brands Overview, Growth Strategies, Business Opportunity, Research Report and Forecast 2023-2028

April 20
16:53 2023
Vegan Food Market Trends, Top Brands Overview, Growth Strategies, Business Opportunity, Research Report and Forecast 2023-2028
Vegan Food Market Report 2023
The rising health consciousness among consumers and the shifting preferences toward plant-based diets represent the primary factors driving the Vegan Food Market growth.

According to the latest report by IMARC Group, titled, “Vegan Food Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the global vegan food industry is expected to exhibit a CAGR of 9.7% during 2023-2028. Vegan food refers to various food products processed from plant-based sources, such as soy, oats, almonds, wheat, tofu, rice, and coconuts. It is free from animal-derived products, including milk, eggs, and gelatin, and comprises low amounts of cholesterol and saturated fats.  It is a rich source of fiber, antioxidants, potassium, magnesium, folate, protein, minerals, complex carbohydrates, and vitamins A, C, and E. As a result, it offers numerous health benefits, such as aids in promoting weight loss, reducing the development of various heart diseases by lowering cholesterol levels, and preventing the risk of colon cancer. Additionally, it aids in minimizing the pain of arthritis, controlling A1C levels, enhancing mood, promoting weight loss, and improving skin health. Some commonly consumed vegan food includes fruits, vegetables, grains, pulses, seeds, nuts, and beans.

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Competitive Landscape with Key Players:

  • 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
  • Vitasoy Australia Products Pty Ltd

Also, Read the Full Blog, Top 
Vegan Food Manufacturers Worldwide: 

Industry Growth:

The growing health consciousness among individuals is driving the global market. Along with this, the growing prevalence of chronic and lifestyle diseases, such as obesity, cancer, diabetes, and cardiovascular disorders are contributing to the demand across the globe. Apart from this, the increasing consciousness among individuals about animal health and cruelty against animals is catalyzing the vegan food market. Moreover, numerous leading players are adopting several technologies to make significant advancements in the flavors and textures of plant-based meals, gaining widespread prominence across the globe. Besides, the expanding food and beverage industry, coupled with the proliferation of vegan quick service restaurants (QSRs) and cafes, is impacting the market favorably. Other factors, including the advent of home delivery models, and continuous developments in attractive packaging solutions, are creating a positive market outlook.

Key Market Segmentation:

Breakup by Product:

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

Breakup by Source:

  • Almond
  • Soy
  • Oats
  • Wheat
  • Others

Breakup by Distribution Channel:

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

Breakup by Region:

  • North America (United States, Canada)
  • Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key Highlights of the Report:

  • Market Performance
  • Market Outlook 
  • Porter’s Five Forces Analysis
  • Market Drivers and Success Factors
  • SWOT Analysis
  • Value Chain
  • Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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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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