Vegan Food Market Size, Share, and Trends

Vegan Food Market (By Product: Dairy Alternative, Meat Substitute, Others; By Distribution Channel: Offline Channels, Online Channels) - Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2022 – 2030

  • Last Updated : May 2022
  • Report Code : 1762
  • Category : Food and Beverages

Vegan Food Market Size and Manufacturers

The global vegan food market size was estimated at USD 26.83 billion in 2021 and it is expected to surpass around USD 65.4 billion by 2030, growing at a CAGR of 10.41% during the forecast period 2022 to 2030.

Vegan Food Market Size 2021 to 2030

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The increased awareness about benefits of the vegan diet is an important factor which is responsible for the growth of this market across various nation.  The countries in the North American region, European region and the Asia Pacific region have a large percentage of vegan population. The outbreak of COVID-19 pandemic had impacted the tiger behavior of many nations. Increased awareness about the health and well being of the individuals have played an important role in the growth of vegan market. Owing to the benefits of the vegan diet there's a shift in the purchase patterns. There is an increased acceptance of the vegan product among the young population across the globe. There is an increasing demand for alternative dairy products, meat substitutes and other food substitute which is driving the market for the vegan food. Vegan food products are derived or processed from plant based sources. Vegan food products are offered as meat substitutes which are actually healthier than meat and provide a great taste and flavor. They are primarily made from ingredients like wheat, soy and others. Dairy free products and beverages are prepared from soy, rice, coconut and almond.

Growth Factors

Many consumers lead a sedentary lifestyle. Major population across the globe is suffering from health related complications like the cardiovascular disease or obesity. Increased awareness about animal health and animal cruelty in the food industry is encouraging consumers in order to shift to plant based food products. Vegan diet is growing popularly across many nations like US, Australia, New Zealand, UK, Australia, Ireland, Israel and Canada. American consumers have stopped the consumption of meat products. An increased awareness about the health benefits of the products that are plant based is increasing the consumer base of the vegan food industry. The other benefits provided by the plant based products are low risk of heart disease, lower risk of a stroke and premature death. An increased demand for alternative dairy products and meat substitutes it will help in adopting vegan diets. Consumers are also seeking nutritional alternatives. The market players are launching innovative and different food products in order to improve the consumer base and to enhance their image. Another reason for the growth of the vegan food market is the people who are lactose intolerant.

Vegan Food Market Scope

Report Coverage Details
Market Size by 2030 USD 65.4 Billion
Growth Rate from 2022 to 2030

CAGR of 10.41%

Largest Market North America 
Fastest Growing Region Asia Pacific
Base Year 2021
Forecast Period 2022 to 2030
Segments Covered Product, Distribution Channel, Geography
Companies Mentioned Amy's Kitchen, Danone S.A, Tofutti Brands Inc., Ripple Foods Inc., Earth’s Own Food Company Inc., The Archer Daniels Midland Company, Daiya Foods Inc.

 

Product Insights

On the basis of the product type the alternative dairy products are rapidly increasing. The alternative dairy products segment is growing as compared to the meat substitutes. They comprise of soy, elements and oats or other similar products. These products are beneficial for people who want to lose weight and also suitable for lactose intolerant people. Increased awareness regarding the health benefits of vegan products is expected to drive the market for this segment. Dairy alternatives was the largest segment till the recent years. About 65% of the global population is lactose intolerant and this also happens to create a demand for dairy alternative food items. The other products offered by the dairy alternatives or cheese, yogurt, snacks and ice cream which help in attracting the non vegetarians and increase the demand for this segment. The major market players are focusing on increasing the product portfolio as there could be rising cases of lactose intolerant people.

Distribution Channel Insights

On the basis of the distribution channel the offline segment had the largest market share in the recent years. The offline segment is expected to maintain its dominance over the forecast period. The offline segment involves many convenience stores, hypermarket, supermarket and other specialty stores. There is an increase in the number of supermarkets and hypermarkets across the globe that are helping in the sales of the product. Do to easy access and availability of vegan products in the brick and mortar stores the consumers prefer shopping from these stores.

Vegan Food Market Share, By Distribution Channel, 2021 (%)

The online stores are also expected to see a great boost during the forecast period. There has been major investments in online distribution channels by the major retail chains. Walmart has started delivering foods online. Many leading retail corporations that are multinational have started delivering food online. Due to the pandemic the ecommerce portals have become a major channel which is adopted by the consumers to buy these products. The access to these products from the comfort of the home and getting delivered them to the doorstep are increasing the trend for online shopping.

Regional Insights

North America is a leading global vegan food market as an increased awareness about animal cruelty. The awareness about the food industry and its impact on the environment is leaving to a growth in this market. Increased number of lactose intolerant people in US is fueling the demand for alternative dairy products in US. The North American region and the European region have the same purchasing pattern. The increased awareness about veganism is also increasing the revenue for the vegan restaurants in these regions. Major food chains like Starbucks and Domino's have launched vegan products in order to capture the consumer base in Europe. The number of vegan consumers in Europe is rising. Major market players in this region are trying to launch new innovative products in order to bring down the prices of the products and to improve the quality of these products.

Asia Pacific is expected to registered the growth at a CAGR of 13.5% from 2022 to 2030. As the younger generation in the Asia Pacific region is also aware about the climate and its association with the consumption of meat the demand for vegan products will rise in this region. The number of vegetarians in India is more but adopting an animal free diet is still low in this country. The availability of cruelty free products and the awareness about the same will play an important role in helping the growth of the vegan market in this region.

Vegan Food Market Companies

  • Amy's Kitchen
  • Danone S.A
  • Tofutti Brands Inc.
  • Ripple Foods Inc.
  • Earth’s Own Food Company Inc.
  • The Archer Daniels Midland Company
  • Daiya Foods Inc.

Recent Developments

  • In February 2021 Dannon which is a France based company acquired Follow Your heart for U.S. dollars 6 million. This acquisition will help the company in improving the capabilities to develop and to launch novel vegan products in the industry.
  • Nestle which is a food conglomerate announced the launch of new vegan milk brand named Wunda in may 2021. Wunda will be launched in the Netherlands Portugal and France.

Segments covered in the report

By Product

  • Dairy Alternative
    • Cheese
    • Dessert
    • Snacks
  • Meat Substitute
    • Tofu
    • TVP
    • Seiten
    • Quorn
    • Others
  • Others

By Distribution Channel

  • Offline Channels
  •  Online Channels

By Geography

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
  • Asia-Pacific
    • China
    • India
    • Japan
    • South Korea
    • Malaysia
    • Philippines
  • Latin America
    • Brazil
    • Rest of Latin America
  • Middle East & Africa (MEA)
    • GCC
    • North Africa
    • South Africa
    • Rest of the Middle East & Africa

Frequently Asked Questions

The global vegan food market size was valued at USD 26.83 billion in 2021 and it is anticipated to rake around USD 65.4 billion by 2030.

The global vegan food market is expected to drive growth at a CAGR of 10.41% during the forecast period 2022 to 2030.

The major players operating in the vegan food market are Amy's Kitchen, Danone S.A, Tofutti Brands Inc., Ripple Foods Inc., Earth’s Own Food Company Inc., The Archer Daniels Midland Company, Daiya Foods Inc.

The increased awareness about benefits of the vegan diet is an important factor which is responsible for the growth of this market across various nation. There is a growing adoption of innovative food packaging for the vegan food products which is helping in the growth of the market.

North America region will lead the global vegan food market in the next ten years.

Chapter 1. Introduction

1.1. Research Objective

1.2. Scope of the Study

1.3. Definition

Chapter 2. Research Methodology

2.1. Research Approach

2.2. Data Sources

2.3. Assumptions & Limitations

Chapter 3. Executive Summary

3.1. Market Snapshot

Chapter 4. Market Variables and Scope 

4.1. Introduction

4.2. Market Classification and Scope

4.3. Industry Value Chain Analysis

4.3.1. Raw Material Procurement Analysis 

4.3.2. Sales and Distribution Channel Analysis

4.3.3. Downstream Buyer Analysis

Chapter 5. COVID 19 Impact on Vegan Food Market

5.1. COVID-19 Landscape: Vegan Food Industry Impact

5.2. COVID 19 - Impact Assessment for the Industry

5.3. COVID 19 Impact: Global Major Government Policy

5.4. Market Trends and Opportunities in the COVID-19 Landscape

Chapter 6. Market Dynamics Analysis and Trends

6.1. Market Dynamics

6.1.1. Market Drivers

6.1.2. Market Restraints

6.1.3. Market Opportunities

6.2. Porter’s Five Forces Analysis

6.2.1. Bargaining power of suppliers

6.2.2. Bargaining power of buyers

6.2.3. Threat of substitute

6.2.4. Threat of new entrants

6.2.5. Degree of competition

Chapter 7. Competitive Landscape

7.1.1. Company Market Share/Positioning Analysis

7.1.2. Key Strategies Adopted by Players

7.1.3. Vendor Landscape

7.1.3.1. List of Suppliers

7.1.3.2. List of Buyers

Chapter 8. Global Vegan FoodMarket, By Product

8.1. Vegan Food Market, by Product Type, 2022-2030

8.1.1. Dairy Alternative

8.1.1.1. Market Revenue and Forecast (2017-2030)

8.1.2. Meat Substitute

8.1.2.1. Market Revenue and Forecast (2017-2030)

8.1.3. Others

8.1.3.1. Market Revenue and Forecast (2017-2030)

Chapter 9. Global Vegan FoodMarket, By Distribution Channel

9.1. Vegan Food Market, by Distribution Channel, 2022-2030

9.1.1. Offline Channels

9.1.1.1. Market Revenue and Forecast (2017-2030)

9.1.2. Online Channels

9.1.2.1. Market Revenue and Forecast (2017-2030)

Chapter 10. Global Vegan FoodMarket, Regional Estimates and Trend Forecast

10.1. North America

10.1.1. Market Revenue and Forecast, by Product (2017-2030)

10.1.2. Market Revenue and Forecast, by Distribution Channel (2017-2030)

10.1.3. U.S.

10.1.3.1. Market Revenue and Forecast, by Product (2017-2030)

10.1.3.2. Market Revenue and Forecast, by Distribution Channel (2017-2030)

10.1.4. Rest of North America

10.1.4.1. Market Revenue and Forecast, by Product (2017-2030)

10.1.4.2. Market Revenue and Forecast, by Distribution Channel (2017-2030)

10.2. Europe

10.2.1. Market Revenue and Forecast, by Product (2017-2030)

10.2.2. Market Revenue and Forecast, by Distribution Channel (2017-2030)

10.2.3. UK

10.2.3.1. Market Revenue and Forecast, by Product (2017-2030)

10.2.3.2. Market Revenue and Forecast, by Distribution Channel (2017-2030)

10.2.4. Germany

10.2.4.1. Market Revenue and Forecast, by Product (2017-2030)

10.2.4.2. Market Revenue and Forecast, by Distribution Channel (2017-2030)

10.2.5. France

10.2.5.1. Market Revenue and Forecast, by Product (2017-2030)

10.2.5.2. Market Revenue and Forecast, by Distribution Channel (2017-2030)

10.2.6. Rest of Europe

10.2.6.1. Market Revenue and Forecast, by Product (2017-2030)

10.2.6.2. Market Revenue and Forecast, by Distribution Channel (2017-2030)

10.3. APAC

10.3.1. Market Revenue and Forecast, by Product (2017-2030)

10.3.2. Market Revenue and Forecast, by Distribution Channel (2017-2030)

10.3.3. India

10.3.3.1. Market Revenue and Forecast, by Product (2017-2030)

10.3.3.2. Market Revenue and Forecast, by Distribution Channel (2017-2030)

10.3.4. China

10.3.4.1. Market Revenue and Forecast, by Product (2017-2030)

10.3.4.2. Market Revenue and Forecast, by Distribution Channel (2017-2030)

10.3.5. Japan

10.3.5.1. Market Revenue and Forecast, by Product (2017-2030)

10.3.5.2. Market Revenue and Forecast, by Distribution Channel (2017-2030)

10.3.6. Rest of APAC

10.3.6.1. Market Revenue and Forecast, by Product (2017-2030)

10.3.6.2. Market Revenue and Forecast, by Distribution Channel (2017-2030)

10.4. MEA

10.4.1. Market Revenue and Forecast, by Product (2017-2030)

10.4.2. Market Revenue and Forecast, by Distribution Channel (2017-2030)

10.4.3. GCC

10.4.3.1. Market Revenue and Forecast, by Product (2017-2030)

10.4.3.2. Market Revenue and Forecast, by Distribution Channel (2017-2030)

10.4.4. North Africa

10.4.4.1. Market Revenue and Forecast, by Product (2017-2030)

10.4.4.2. Market Revenue and Forecast, by Distribution Channel (2017-2030)

10.4.5. South Africa

10.4.5.1. Market Revenue and Forecast, by Product (2017-2030)

10.4.5.2. Market Revenue and Forecast, by Distribution Channel (2017-2030)

10.4.6. Rest of MEA

10.4.6.1. Market Revenue and Forecast, by Product (2017-2030)

10.4.6.2. Market Revenue and Forecast, by Distribution Channel (2017-2030)

10.5. Latin America

10.5.1. Market Revenue and Forecast, by Product (2017-2030)

10.5.2. Market Revenue and Forecast, by Distribution Channel (2017-2030)

10.5.3. Brazil

10.5.3.1. Market Revenue and Forecast, by Product (2017-2030)

10.5.3.2. Market Revenue and Forecast, by Distribution Channel (2017-2030)

10.5.4. Rest of LATAM

10.5.4.1. Market Revenue and Forecast, by Product (2017-2030)

10.5.4.2. Market Revenue and Forecast, by Distribution Channel (2017-2030)

Chapter 11. Company Profiles

11.1. Amy's Kitchen

11.1.1. Company Overview

11.1.2. Product Offerings

11.1.3. Financial Performance

11.1.4. Recent Initiatives

11.2. Danone S.A

11.2.1. Company Overview

11.2.2. Product Offerings

11.2.3. Financial Performance

11.2.4. Recent Initiatives

11.3. Tofutti Brands Inc.

11.3.1. Company Overview

11.3.2. Product Offerings

11.3.3. Financial Performance

11.3.4. Recent Initiatives

11.4. Ripple Foods Inc.

11.4.1. Company Overview

11.4.2. Product Offerings

11.4.3. Financial Performance

11.4.4. Recent Initiatives

11.5. Earth’s Own Food Company Inc.

11.5.1. Company Overview

11.5.2. Product Offerings

11.5.3. Financial Performance

11.5.4. Recent Initiatives

11.6. The Archer Daniels Midland Company

11.6.1. Company Overview

11.6.2. Product Offerings

11.6.3. Financial Performance

11.6.4. Recent Initiatives

11.7. Daiya Foods Inc.

11.7.1. Company Overview

11.7.2. Product Offerings

11.7.3. Financial Performance

11.7.4. Recent Initiatives

Chapter 12. Research Methodology

12.1. Primary Research

12.2. Secondary Research

12.3. Assumptions

Chapter 13. Appendix

13.1. About Us

13.2. Glossary of Terms

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