Vegan Food Market Market Research Report—Global Forecast till 2032

Vegan Food Market Research Report Information By Product (Meat & Seafood, Creamer, Ice Cream and Frozen Novelties, Yogurt, Cheese, Butter, Meals, Protein Bars, and Others), By Distribution Channel (Offline and Online), And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) –Market Forecast Till 2032

ID: MRFR/F-B & N/9997-HCR | 128 Pages | Author: Sakshi Gupta | May 2023         

Global Vegan Food Market Overview


Vegan Food Market Size was valued at USD 24.2 billion in 2022. The vegan food market is projected to grow from USD 27.39 billion in 2023 to USD 73.86 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 16.26% during the forecast period (2023 - 2032). Increasing awareness of the benefits of a vegan diet and shifting consumer preferences are the key market drivers enhancing market growth.

Vegan Food Market Overview


Source: Secondary Research, Primary Research, MRFR Database and Analyst Review


Vegan Food Market Trends




  • Changing consumer preferences is driving the market growth




Numerous consumers lead sedentary lives. Most of the world's population suffers from health-related complications such as cardiovascular disease and obesity. Enhanced awareness of animal welfare and cruelty in the food industry encourages consumers to switch to plant-based foods. Veganism is gaining popularity in numerous nations, including the United States, Australia, New Zealand, the United Kingdom, Ireland, Israel, and Canada. Consumers in the United States have ceased consuming meat products. A greater understanding of the health advantages of plant-based products is expanding the vegan food industry's consumer base. Other benefits of plant-based products include a reduced risk of heart disease, stroke, and premature mortality. It will aid in adopting vegan diets if the demand for alternative dairy products and meat substitutes increases.


Additionally, consumers pursue nutritional alternatives. The market participants are introducing novel and distinct food products to expand their consumer base and better their image. Lactose-intolerant individuals are also contributing to the expansion of the vegan food market. Changing lifestyle patterns are affecting the market CAGR.


Increased awareness of the benefits of a vegan diet is a significant factor driving the expansion of this market in numerous nations.  The percentage of vegans in the populations of North American, European, and Asia-Pacific nations is substantial. The outbreak of the COVID-19 pandemic affected the conduct of tigers in numerous nations. Increased awareness about the health and well-being of individuals has contributed significantly to the expansion of the vegan market. Due to the advantages of a vegan diet, there is a transition in purchasing habits. There is a worldwide increase in the acceptance of vegan products among youthful people. The rising demand for alternative dairy products, meat substitutes, and other food substitutes drives the market for vegan cuisine. Vegan foods are derived from or processed using only plant-based ingredients. Vegan foods are available as meat substitutes that are healthier than meat and have a delicious flavor. They are predominantly composed of wheat, soy, and other ingredients. Soy, rice, coconut, and almond manufacture dairy-free foods and beverages. Thus, such factors are driving the vegan food market revenue.


Vegan Food Market Segment Insights


Vegan Food Product Insights


The Vegan Food Market segmentation, based on Products, includes meat & seafood, creamer, ice cream and frozen novelties, yogurt, cheese, butter, meals, protein bars, and others. The meat & seafood segment dominated the market in 2022. The substantial demand for plant-based meat alternatives in developed economies such as the United States, the United Kingdom, and others primarily propels the segment.


Vegan Food Distribution Channel Insights


Based on distribution channels, the Vegan Food Market segment includes offline and online. The offline category generated the most income (70.4%). The abundance of supermarkets and hypermarkets has increased product sales overall. In addition, consumers prefer brick-and-mortar grocery stores due to their accessibility and availability. In addition, the extensive availability of domestic and international brands and the physical verification of product details before purchase encourage consumers to shop offline.   


Figure 1: Vegan Food Market by Distribution channel, 2022 & 2032 (USD billion)


 Vegan Food Market by Distribution channel, 2022 & 2032 (USD billion)


Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review


Vegan Food Regional Insights


By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American vegan food market area will dominate this market in 2022. Increased concerns about animal cruelty in the food industry and its negative influence on the environment are primarily driving the market. In addition, many lactose-intolerant individuals in the United States drive demand for alternative dairy products.


Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.


Figure 2: VEGAN FOOD MARKET SHARE BY REGION 2022 (%)


VEGAN FOOD MARKET SHARE BY REGION 2022 (%)


Source: Secondary Research, Primary Research, MRFR Database and Analyst Review


Europe Vegan Food market accounts for the second-largest market share. Europe is one of the world's largest consumers of plant-based culinary products. Due to the increase in vegan consumers in the region, prominent food chains such as Domino's and Starbucks have introduced new vegan products for regional consumers. Veganism is gaining popularity in the region due to consumers' growing climate consciousness. Further, the German Vegan Food market held the largest market share, and the UK Vegan Food market was the fastest growing market in the European region


The Asia-Pacific Vegan Food Market is expected to grow at the fastest CAGR from 2023 to 2032. The market is primarily driven by consumers' increasing health consciousness. Due to the high growth opportunities in Asia-Pacific, the market's leading manufacturers have been concentrating on expanding their businesses there. Moreover, China’s Vegan Food market held the largest market share, and the Indian Vegan Food market was the fastest growing market in the Asia-Pacific region.


Vegan Food Key Market Players & Competitive Insights


Companies are investing in increasing their production and technological capabilities to develop and introduce new vegan product variants. Startups are developing and releasing vegan products, fragmenting the competitive landscape of this market.


The high demand for plant-based foods has expanded the growth potential for manufacturers in the global Vegan Food industry. Major Vegan Food market players include Amy's Kitchen, Danone S.A, Daiya Foods Inc., Beyond Meat, Tofutti Brands Inc., Plamil Foods Ltd, VBites Foods Limited, and Eden Foods Inc., VITASOY International Holdings Limited, SunOpta.


Danone SA is a producer and manufacturer of nutritional and dairy products. The company provides fresh dairy products, bottled water, early-life nutrition, and medical nutrition products. Its portfolio comprises fermented dairy products, yogurt, plant-based nutritional cooking products & beverages,  dairy specialties, and specialized infant and geriatric foods. Additionally, Danone offers packaged, flavored, and vitamin-enriched water. The company markets its merchandise under Danone, Activia, Aqua, Gallia, Evian, Volvic, Actimel, Nutricia, and Bledina. Danone's products are distributed through retail chains, traditional market locations, and specialized distribution channels, such as hospitals, clinics, and pharmacies. The company operates in the Americas, Europe, Africa, the Middle East, and Asia-Pacific. The headquarters of Danone is in Paris, France.


Since its inception in 1987, Amy's Kitchen has been at the forefront of the organic food movement. It has remained a privately held, family-owned business committed to providing handcrafted, affordable family recipes. Today, Amy's takes pride in preparing delicious, ready-to-eat, organic, and vegetarian meals for over 14 million customers, delivering over 210 million meals annually.


Key Companies in the Vegan Food market include



  • General Mills Inc.

  • Amway

  • Conagra Brands Inc.

  • Cargill Incorporated

  • Abbott Laboratories

  • Kraft Foods Group Inc.

  • The Coca-Cola Company

  • PepsiCo Inc.

  • Atkins Nutritionals Inc.

  • Brunswick Corporation


Vegan Food Industry Developments


May 2021 Nestle announced the introduction of a new vegan milk brand called Wunda, a pea-based milk substitute. The company is concentrating on introducing the product to France, the Netherlands, and Portugal.


February 2021 Dannon, a company based in France, acquired Follow Your Heart for $6 million. This acquisition will enhance the company's capacity to develop and introduce novel vegan products.


March 2020 Treeline Cheese launched a line of plant-based cream cheese produced with cultured cashew nuts and other plant-based ingredients. Three varieties are available: plain, chive and onion, and strawberry.


Vegan Food Market Segmentation


Vegan Food Product Outlook



  • Meat & Seafood

  • Creamer

  • Ice Cream and Frozen Novelties

  • Yogurt

  • Cheese

  • Butter

  • Meals

  • Protein Bars

  • Others


Vegan Food Distribution Channel Outlook



  • Offline

  • Online


Vegan Food Regional Outlook



  • North America

    • US

    • Canada



  • Europe

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Rest of Europe



  • Asia-Pacific

    • China

    • Japan

    • India

    • Australia

    • South Korea

    • Australia

    • Rest of Asia-Pacific



  • Rest of the World

    • Middle East

    • Africa

    • Latin America





Report Scope:

Report Attribute/Metric Details
Market Size 2022 USD 24.2 billion
Market Size 2023 USD 27.39 billion
Market Size 2032 USD 73.86 billion
Compound Annual Growth Rate (CAGR) 16.26% (2023-2032)
Base Year 2022
Market Forecast Period 2023-2032
Historical Data 2018- 2022
Market Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
Segments Covered Product, Distribution Channel, and Region
Geographies Covered North America, Europe, Asia Pacific, and the Rest of the World
Countries Covered The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
Key Companies Profiled  Amy's Kitchen, Danone S.A, Daiya Foods Inc., Beyond Meat, Tofutti Brands Inc., Plamil Foods Ltd, VBites Foods Limited, Eden Foods Inc., VITASOY International Holdings Limited, and SunOpta.
Key Market Opportunities Changing consumer preference
Key Market Dynamics Growing vegan population Rising obese population
 

Frequently Asked Questions (FAQ) :

The Vegan Food Market size was valued at USD 24.2 Billion in 2022.

The global market is projected to grow at a CAGR of 16.26% during 2023-2032.

North America had the largest share in the global market

The key players in the market are Amy's Kitchen, Danone S.A, Daiya Foods Inc., Beyond Meat, Tofutti Brands Inc., Plamil Foods Ltd, VBites Foods Limited, Eden Foods Inc., VITASOY International Holdings Limited, SunOpta.

The meat & seafood category dominated the market in 2022.

The offline had the largest share in the global market.

Key Questions Answered

  • ✅ Global Market Outlook
  • ✅ In-depth analysis of global and regional trends
  • ✅ Analyze and identify the major players in the market, their market share, key developments, etc.
  • ✅ To understand the capability of the major players based on products offered, financials, and strategies.
  • ✅ Identify disrupting products, companies, and trends.
  • ✅ To identify opportunities in the market.
  • ✅ Analyze the key challenges in the market.
  • ✅ Analyze the regional penetration of players, products, and services in the market.
  • ✅ Comparison of major players’ financial performance.
  • ✅ Evaluate strategies adopted by major players.
  • ✅ Recommendations
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