Vegan Foods Market – Industry Analysis by Size, Share & Growth (2021-2027) | UnivDatos

 

The Global vegan foods market is burgeoning owing to the rising awareness of increasing demand for protein-rich diet, snowballing consumers’ focus on meat alternatives, growing health & wellness trends, etc. Moreover, the rising shift toward a vegan diet and emerging economics provide significant growth opportunities for vegan foods manufacturers. As per Veganbits, 7.53 billion vegan people are living worldwide, out of which, 1.2 billion people are living in Africa. In 2019, Europeans consumed 40% of the world’s total plant-based meat alternatives out of concern for health, food security, and animal welfare. In 2019, the European Union launched a program called “Smart Protein” to reuse large-scale, plant-based residues such as pasta, bread, and yeast by-products together with whole grains, as new high protein, flavorful substitutes for meat, seafood, and dairy products.

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Moreover, rising incidents of chronic diseases such as Cancer, Cardiovascular Disease, and type 2 Diabetes are deriving the growth of the plant-based protein market. In a survey by the American Journal of Lifestyle Medicine, the majority (83%) agreed that a plant-based diet is a safe and health-promoting diet. The plant-Based dietary pattern can reduce an individual’s risk of developing cardiovascular disease (83%), type 2 diabetes (79%), and some cancers (63%) as well as prevent and treat many chronic diseases (58%).

According to UnivDatos Market Insights (UMI)’ research report “Global Vegan Foods Market Analysis, 2020”, 1/3 of Americans are actively reducing their meat and dairy consumption. A new study by Ipsos Retail has revealed that the number of Americans following vegan diets is up nearly 9.6 million over the last 15 years. This is a 300% increase and nearly 3 %of the population in the United States. This increase in the vegan population is expected to drive the plant-based protein market. As per the Plantproteins.co, U.S. retail sales of plant-based foods have increased 11% from 2018 to 2019, hitting a plant-based market value of US$4.5 billion.

Based on the source, the soy segment acquired the X% market share and gathered USD X Mn market in 2020. Soy proteins are used in various food products such as frozen desserts, soups, salads, non-dairy creamers, breakfast cereals, infant formula, cheese, whipped cream, pasta, bread, and pet foods. Therefore, health benefits and wide-range application of soy proteins boost the demand for the same. For example, in Feb 2021, Life Health Foods (India) Pvt. Ltd launched their new brand So Good protein+, dairy-free plant-based milk which contains 25% more protein than regular Soy Milk and toned dairy milk.

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Based on the distribution channel, the offline segment grabbed X% market share and dominated the market in 2020. The advantages of specialty stores such as a wide range of product categories, the assistance of skilled staff, and the immediate shipping of products are leading to the growing share. Moreover, specialty stores provide training to their employees to assist customers and a few of them also offer price-matching guarantees.

The North America region to Grab Lion’s Share, But Europe to witness Explicit Growth

Based on the Region, the North America region dominated the global vegan foods market in 2020. According to the National Digestive Diseases Information Clearinghouse, some 30 million to 50 million Americans are lactose intolerant, including up to 75% of African Americans and American Indians and 90% of Asian Americans. Moreover, In Canada, more than 40% of the population is actively trying to incorporate more vegan foods into their diets. However, Europe would witness a robust CAGR in the forthcoming years stated in UnivDatos Market Insights (UMI)’ research report “Global Vegan Foods Market Analysis, 2020”.

According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the global Vegan Foods Market 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,  Vitasoy Australia Products Pty Ltd, etc., The players are focused on launching new products for gaining customers' traction and expanding their geographical reach to get a competitive edge in the industry.  

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“Global Vegan Foods Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the Vegan Foods Market across the Globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitors' capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.  

 Market Segmentation:

1.      By Type (Dairy Alternative, Meat Substitute,  Others.)

2.      By Source (Almond, Soy, Oats, Wheat, Others)

3.      By Distribution Channel (Online. Offline)

4.      By Region (North America, Europe, Asia-Pacific, Rest of the World)

5.      By Company (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. )

Key questions answered in the study:

1.      What are the current and future trends of the global Vegan Foods market industry?

2.      How the industry has been evolving in terms of end-user demand and application areas?

3.      How the competition has been shaping across the countries followed by their comparative factorial indexing?

4.      What are the key growth drivers and challenges for the Vegan Foods market industry?

5.      What are the customer orientation, purchase behavior, and expectations from the Vegan Foods market firms across various regions?

 

Table of Content –

1 MARKET INTRODUCTION

2 RESEARCH METHODOLOGY OR ASSUMPTION

3 MARKET SYNOPSIS

4 EXECUTIVE SUMMARY

5 GLOBAL VEGAN FOODS COVID-19 IMPACT

6 GLOBAL VEGAN FOODS REVENUE, 2019-2027F

7 MARKET INSIGHTS BY TYPE

8 MARKET INSIGHTS BY SOURCE

9 MARKET INSIGHTS BY DISTRIBUTION CHANNEL

10 MARKET INSIGHTS BY REGION

11 VEGAN FOODS DYNAMICS

12 VEGAN FOODS OPPORTUNITIES

13 VEGAN FOODS TRENDS

14 LEGAL & REGULATORY FRAMEWORK

15 DEMAND AND SUPPLY SIDE ANALYSIS

16 VALUE CHAIN ANALYSIS

17 COMPETITIVE SCENARIO

18 COMPANY PROFILED

19 DISCLAIMER

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