The Vegan Food market size was valued at $14.2 billion in 2018 and is expected to reach $31.4 billion by 2026, registering a CAGR of 10.5% from 2019 to 2026.
The global Vegan Food market is segmented based on product type and distribution channel.
Consumers have been actively participating in various physical activities due to rise in awareness about the benefits behind indulging in such programs or activities. This has triggered the demand for various health oriented products no matter it is food & beverages, apparels or footwear. Taking this consumer trend into consideration, vegan food manufacturers have been strategizing on coming up with product that caters to the requirement of target customers. Thus rise in health and wellness trend among the target customers have been driving the growth of global vegan food market in terms of value sales.
Increase in disposable income of China’s huge population is anticipated to drive the Asia-Pacific dairy alternative market in the coming years. For instance, According to National Bureau of Statistics of China, the disposable income of China has increased at a great pace and noted as 31195 CNY in the year 2015. In the previous year the disposable income was noted as 28844 CNY. According to Ministry of Statistics and Programme Implementation (MOSPI), the disposable income of India has also increased to138192890 INR million in 2015 from 127880080 INR million in 2014 which was the highest disposable income noted. The increased disposable income generates opportunity for market players to expand their market presence in these countries.
Key players profiled in the report include Sun Opta Inc., Whitewave Foods Company Inc., Hain Celestial Group Inc., Bhlue Diamond Growers, Archer Daniel Midland Company, Organic Valley Corporative, Panos Brand LLC., Pascual Group, Earth’s Own Food Company Inc., Earth’s Own Food Company Inc., Living Harvest Food Inc. and other such.
KEY BENEFITS FOR STAKEHOLDERS
- The report provides an extensive analysis of the current and emerging market trends and opportunities in the global Vegan Food market.
- The report provides detailed qualitative and quantitative analysis of current trends and future estimations that help evaluate the prevailing market opportunities.
- A comprehensive analysis of the factors that drive and restrict the growth of the market is provided.
- An extensive analysis of the market is conducted by following key product positioning and monitoring the top competitors within the market framework.
- The report provides extensive qualitative insights on the potential segments or regions exhibiting favorable growth.
KEY MARKET SEGMENTS
By Product Type
- Dairy Alternative
- Meat Substitute
By Distribution Channel
- North America
- ·Rest of Europe
- ·Australia and New Zealand
- ·Rest of Asia-Pacific
- ·Latin America
- ·Middle East