Vegan Food Market Size to Grow by USD 21.46 billion with 40% of the contribution from North America – Technavio – QNT Press Release


NEW YORK, Aug. 19, 2022 /PRNewswire/ — The vegan food market is set to grow by USD 21.46 billion between 2021 and 2026, according to the latest market analysis report by Technavio. The report predicts the market to witness an accelerating growth momentum at a CAGR of 12.25%. Technavio categorizes the global vegan food market as a part of the global packaged food and meat market. Our report provides extensive information on the value chain analysis for the vegan food market, which vendors can leverage to gain a competitive advantage during the forecast period. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

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Vegan Food Market Vendor Analysis
  • The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. To leverage the current opportunities, market vendors must strengthen their foothold in the fast-growing segments, while maintaining their positions in the slow-growing segments.
  • Amys Kitchen Inc., Bega Cheese Ltd., Beyond Meat Inc., Blue Diamond Growers, Danone SA, Earths Own Food Co. Inc., Eden Foods Inc., First Grade International, Fresh Start, Living Harvest Foods, Maple Leaf Foods Inc ., Organic Valley, Otsuka Holdings Co. Ltd., PANOS Brands LLC, Ripple Foods PBC, Saputo Inc., SunOpta Inc., The Hain Celestial Group Inc., Tofutti Brands Inc., and VBites Foods Ltd. are some of the major market participants.
  • To make the most of the opportunities and recover from post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
  • The vegan food market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
  • Backed with competitive intelligence and benchmarking, our research reports on the vegan food market are designed to provide entry support, customer profile & M&As as well as go-to-market strategy support.

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Vegan Food Market Segment Analysis
  • Product
    • Dairy Alternative: The vegan food market share growth in the dairy alternative segment will be significant during the forecast period. The rising demand for dairy alternatives products is due to the increasing vegan population and awareness regarding lactose intolerance. The major growth factor for the dairy alternative segment in the global vegan food market is due to the increasing consumption of plant-based dairy products. Thus, an increase in demand for a dairy alternative will boost the vegan food market growth during the forecast period.
    • Meat Alternative
    • Others
  • Geography
    • North America: 40% of the market’s growth will originate from North America during the forecast period. The US is the key market for the vegan food market in North America. Market growth in this region will be faster than the growth of the market in Europe. Rising disposable incomes will facilitate the vegan food market growth in North America over the forecast period.
    • Europe
    • APAC
    • South America
    • Middle East And Africa

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Vegan Food Market Scope

The report also covers the following areas:

Vegan Food Market Highlights
  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will assist vegan food market growth during the next five years
  • Estimation of the vegan food market size and its contribution to the parent market
  • Predictions on upcoming trends and changes in consumer behavior
  • The growth of the vegan food market
  • Analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of vegan food market vendors

Related Reports:

Vegan Supplements Market by Distribution Channel and Geography – Forecast and Analysis 2022-2026

Vegan Ice Cream Market by Product and Geography – Forecast and Analysis 2020-2024

Vegan Food Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 12.25%

Market growth 2022-2026

$21.46 billion

Full story available on Benzinga.com



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