$14+ Billion Worldwide Vegan Food Industry to 2030 - Identify Growth Segments for Investment


Dublin, Dec. 01, 2021 (GLOBE NEWSWIRE) -- The "Vegan Food Global Market Report 2021: COVID-19 Growth and Change to 2030" report has been added to ResearchAndMarkets.com's offering.

This report provides the strategists, marketers and senior management with the critical information they need to assess the global vegan market.

This report focuses on the vegan market which is experiencing strong growth. The report gives a guide to the vegan market which will be shaping and changing our lives over the next ten years and beyond, including the market's response to the challenge of the global pandemic.

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  • Gain a truly global perspective with the most comprehensive report available on this market covering 12+ geographies.
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  • Identify growth segments for investment.
  • Outperform competitors using forecast data and the drivers and trends shaping the market.
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  • Benchmark performance against key competitors.
  • Utilize the relationships between key data sets for superior strategizing.
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  • Report will be updated with the latest data and delivered to you within 3-5 working days of order.

Where is the largest and fastest growing market for the vegan? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The Vegan market global report answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. It places the market within the context of the wider vegan market, and compares it with other markets.

  • The market characteristics section of the report defines and explains the market.
  • The market size section gives the market size ($b) covering both the historic growth of the market, the impact of the COVID-19 virus and forecasting its recovery.
  • Market segmentations break down market into sub markets.
  • The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the impact and recovery trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
  • Competitive landscape gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
  • The trends and strategies section highlights the likely future developments in the market and suggests approaches companies can take to exploit this.
  • The vegan market section of the report gives context. It compares the vegan market with other segments of the vegan market by size and growth, historic and forecast. It analyses GDP proportion, expenditure per capita, vegan indicators comparison.

Major players in the vegan market are Amy's Kitchen, Vitasoy International Holdings Ltd., Beyond Meat, Tofutti Brands, Plamil Foods Ltd., Danone S.A., Vbites Foods Ltd., Eden Foods Inc., Whitewave Foods Company Inc. and Sun Opta Inc.

The global vegan food market is expected to grow from $14.44 billion in 2020 to $15.77 billion in 2021 at a compound annual growth rate (CAGR) of 9.2%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $22.27 billion in 2025 at a CAGR of 9%.

The vegan market consists of the sale of vegan products and related services for consumption purposes. Vegan products include food and beverages produced without the use of animal ingredients or animal-derived ingredients. Vegan food products include fruits and vegetables, legumes such as peas, beans, plant protein-based tofu and plant protein-based meat.

One of the trends in the vegan market is the production of meat through cell-based technology. The cell-by -cell identical meat is produced in factories without involving the killing of animals. Production of cell -based meat involves feeding the animal cells with nutrients and proteins thus, eliminating the need for dependence on animals for meat. Following the trend, in 2019, Memphis Meats, a U.S.A based cell-based meat start up, received investments from Cargill, a U.S.A based food production company, for the production of cell-based vegan animal meat. Since 2016, other major players such as Tyson Foods., an U.S.A. based processor and marketer of chicken, beef, and pork, are also investing in Memphis Meats in order to support the cell -based meat production.

Vegan food products lack certain nutrients. Vegan products do not contain any animal ingredients or animal-derived ingredients. Vegan food doesn't contain an adequate amount of high-quality protein and fats, vegan and vegetarian diets lack in many very important minerals, such as calcium, iron, and zinc. According to a study published in 2020 by BMC Medicine, vegans have a higher fracture risk as compared to meat-eaters, fish eaters, and vegetarians. The strongest associations were observed for hip fractures, for which fish eaters, vegetarians, and vegans all had higher risks. This is due to an inadequate calcium intake in a vegan diet. Therefore, the lack of essential nutrients factor impacts the growth of the vegan market.

An increase in the concern about the environment among the population is driving the growth of the vegan market. Rearing and breeding of livestock such as pigs, hens, cows, goats in farms contributes to the greenhouse effect. Greenhouse gases are released from agriculture of livestock such as cows and the gases released block the atmospheric heat from escaping which increases the overall temperature. The demand for animal meat requires excess practice of animal farming. Thus, increase in the number of consumers for vegan food, eliminates the demand for excessive animal farming, following a decrease in emission of greenhouse gases in the environment. According to the United States Environmental Protection Agency, in 2018, total gross U.S. greenhouse gas emissions were 6,676.6 million metric tons of carbon dioxide equivalent (MMT CO2 Eq). Thus, an increase in the concern about the environment among the population is driving the growth of the vegan market.

In December 2018, Unilever is a British-Dutch transnational consumer goods company co-headquartered in London, acquired The Vegetarian Butcher for an undisclosed amount. The acquisition fits with Unilever's strategy to expand its portfolio into plant-based foods that are healthier and have a lower environmental impact. The Vegetarian Butcher is a food and beverages company working towards the production of plant-based meat production and is headquartered in the Netherlands.

Key Topics Covered:

1. Executive Summary

2. Vegan Market Characteristics

3. Vegan Market Trends and Strategies

4. Impact of COVID-19 on Vegan

5. Vegan Market Size and Growth
5.1. Global Vegan Historic Market, 2015-2020, $ Billion
5.1.1. Drivers of the Market
5.1.2. Restraints on The Market
5.2. Global Vegan Forecast Market, 2020-2025F, 2030F, $ Billion
5.2.1. Drivers of the Market
5.2.2. Restraints on the Market

6. Vegan Market Segmentation
6.1. Global Vegan Market, Segmentation By Product Substitute, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

  • Dairy Alternative
  • Meat Substitute
  • Others

6.2. Global Vegan Market, Segmentation By Distribution Channel, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

  • Online
  • Offline

6.3. Global Vegan Market, Segmentation By Source, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

  • Wheat
  • Soy
  • Oats
  • Almond
  • Others

7. Vegan Market Regional and Country Analysis
7.1. Global Vegan Market, Split By Region, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
7.2. Global Vegan Market, Split By Country, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

For more information about this report visit https://www.researchandmarkets.com/r/3v7xl0


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