Global Vegan Meal Market Overview
Vegan Meal Market Size was estimated at 27.7 (USD Billion) in 2022. The Vegan Meal Market Industry is expected to grow from 30.75(USD Billion) in 2023 to 78.94 (USD Billion) by 2032. The Vegan Meal Market CAGR (growth rate) is expected to be around 11.04% during the forecast period (2024 - 2032).
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Key Vegan Meal Market Trends Highlighted
The increase in health awareness, ethical concerns, and environmental action shapes the demand in the vegan meals market. The popularity of flexitarian and plant-based whole-food eating habits is growing, thus widening the target market. There are positive market contributions that arise from the increase in the availability of vegan food products, improvement in plant meat and government policies advocating for veganism.
Expansion of distribution channels, creation of new vegan innovations, and filling in the nutritional voids of plant-based nutrition seek growth. The juncture between the production of plant-based ingredients and flavoring technologies offers significant possibilities. Furthermore, the striking development of the products is influenced by an increasing need for convenience food with ready-to-eat vegan meals.
Some emerging tendencies can include the establishment of ghost kitchens and the provision of delivery services to satisfy the growing market of vegan foods. In particular, services of vegan diet management with monthly subscriptions and a meal delivery service are getting in the markets. Besides, the market also experiences expansion as a lot of new and existing food companies are venturing into the production and selling of vegan meal products.
Vegan Meal Market Drivers
Rising Demand for Plant-Based Diets
The increasing popularity of veganism and vegetarianism is a major driver of the vegan meal market. Consumers are becoming more aware of the health and environmental benefits of plant-based diets, and this is leading to a growing demand for vegan meals. In addition, the rising number of flexitarians, who are people who reduce their meat consumption but do not eliminate it entirely, is also contributing to the growth of the vegan meal market.The Vegan Meal Market Industry is expected to witness significant growth owing to the presence of various growth-influencing factors. The rising demand for plant-based diets is a key factor anticipated to drive the vegan meal market. The health benefits associated with vegan meals are also anticipated to propel market growth. Furthermore, rising awareness regarding animal welfare is also projected to contribute to the growth of the vegan sector.The increasing disposable income of consumers is another factor anticipated to drive the target market.
Growing Availability of Vegan Meal Options
Another reason driving the demand in the vegan meal market is the increased availability of vegan meal options. Previously, vegans and vegetarians had to constantly worry about what to eat or prepare meals at home because it was difficult to find suitable food outside. However, today, vegan meal options are widely available at restaurants, supermarkets, and even fast food chains. This makes it relatively easy for people to switch to a vegan diet and stick to it.
Government Support for Veganism
Governments worldwide are showing a higher extent of support for veganism and plant-based diets. They provide it by lowering taxes for the manufacturers of vegan food, for example. Moreover, in many countries, informing the public about the benefits of such a diet is the main priority and goal of public campaigns. Thus, the environment for the development of the market for vegan meals is getting more beneficial.
Vegan Meal Market Segment Insights
Vegan Meal Market Meal Type Insights
The Meal Type segment of the Vegan Meal Market holds immense potential for growth. Breakfast, lunch, dinner, and snacks are the primary categories in this segment. Breakfast is witnessing a significant surge in demand, with an estimated market revenue of 6.45 billion USD in 2023 and a projected CAGR of 12.1% by 2032. Consumers are increasingly opting for vegan breakfast options due to rising health consciousness and the growing popularity of plant-based diets. The lunch segment is expected to reach a valuation of 10.34 billion USD by 2032, driven by the increasing availability of vegan meal options in restaurants, cafes, and corporate cafeterias.Similarly, the dinner segment is projected to witness steady growth, catering to the growing demand for convenient and healthy vegan meal solutions for evening consumption. The snacks segment, driven by the rising popularity of on-the-go vegan snacks, is anticipated to reach a market size of 4.21 billion USD by 2032. Overall, the Meal Type segment of the Vegan Meal Market presents significant growth opportunities for market participants, with each category offering unique market dynamics and consumer preferences.
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Vegan Meal Market Distribution Channel Insights
The Vegan Meal Market is segmented into various distribution channels, including supermarkets/hypermarkets, online retailers, convenience stores, and health food stores. Supermarkets/hypermarkets hold a significant share of the market, driven by their wide product offerings, convenience, and accessibility. Online retailers are rapidly gaining market share due to the increasing popularity of e-commerce and the convenience of home delivery. Convenience stores offer a limited selection of vegan meals but cater to consumers seeking quick and easy options.Health food stores specialize in vegan and health-conscious products, offering a wide range of options that cater to specific dietary needs. The Vegan Meal Market is expected to continue growing at a substantial rate in the coming years, driven by rising health consciousness, increasing demand for plant-based diets, and the expansion of distribution channels.
Vegan Meal Market Product Category Insights
The Vegan Meal Market is segmented into product categories such as vegan meat substitutes, plant-based dairy, vegan baked goods, vegan soups and stews, and vegan ready-to-eat meals. Among these, vegan meat substitutes hold the largest market share due to rising demand for plant-based protein alternatives. The plant-based dairy segment is also witnessing significant growth, driven by increasing consumer awareness about the health benefits of plant-based milk, cheese, and yogurt. Vegan baked goods are gaining popularity as consumers seek healthier and more sustainable options for their snacks and desserts.The convenience and affordability of vegan ready-to-eat meals are contributing to the growth of this segment, catering to the needs of time-pressed consumers. Overall, the Vegan Meal Market is poised for significant growth, driven by increasing veganism, health consciousness, and environmental concerns.
Vegan Meal Market Dietary Preference Insights
The Vegan Meal Market Segmentation by Dietary Preference offers valuable insights into the growing demand for specialized vegan food products. The Gluten-Free segment is projected to witness significant growth, driven by increasing awareness of celiac disease and gluten intolerance. In 2023, the Gluten-Free Vegan Meal Market was valued at USD 4.56 billion and is estimated to reach USD 8.32 billion by 2032, exhibiting a CAGR of 8.2%. This growth reflects the rising demand for gluten-free alternatives, particularly in developed regions like North America and Europe.The Soy-Free segment presents another promising growth area, driven by the growing prevalence of soy allergies and intolerances. In 2023, this segment was valued at USD 3.72 billion and is projected to reach USD 6.87 billion by 2032, exhibiting a CAGR of 8.0%. Manufacturers are responding to this increasing demand by introducing innovative soy-free vegan products, such as tofu made from chickpeas or lentils. The Nut-Free segment also holds significant growth potential, catering to individuals with nut allergies. In 2023, this segment was valued at USD 2.94 billion and is projected to reach USD 5.36 billion by 2032, exhibiting a CAGR of 7.8%.The growing popularity of nut-free diets for both health and ethical reasons is driving this segment's growth. The non-GMO segment represents another important niche in the Vegan Meal Market. With increasing consumer concerns about genetically modified organisms (GMOs), this segment is witnessing growing demand. In 2023, the Non-GMO Vegan Meal Market was valued at USD 4.23 billion and is projected to reach USD 7.73 billion by 2032, exhibiting a CAGR of 8.1%. Manufacturers are introducing non-GMO certified vegan products to meet this rising demand, particularly in regions like Europe and North America.
Vegan Meal Market Packaging Insights
The Vegan Meal Market is segmented by Packaging into Fresh, Frozen, Canned, and Packaged. The Packaged segment is projected to witness significant growth over the forecast period, owing to the rising demand for convenient and ready-to-eat vegan meal options. Packaged vegan meals offer a longer shelf life and are easy to store and transport, making them ideal for busy consumers. The increasing popularity of e-commerce platforms and the growing number of vegan meal delivery services are also contributing to the growth of the Packaged segment.According to Vegan Meal Market data, the Packaged segment is expected to account for a revenue of USD 15.23 billion by 2024, growing at a CAGR of 12.5% during the forecast period.
Vegan Meal Market Regional Insights
The regional segmentation of the Vegan Meal Market showcases distinct market dynamics and growth trajectories across various geographic regions. North America, a prominent market for vegan meals, is projected to maintain its dominance with a significant share in 2023 and beyond. The region's growing health consciousness, increasing vegan population, and robust food industry contribute to its market growth. Europe follows closely, driven by rising consumer awareness about veganism, government initiatives promoting plant-based diets, and a thriving vegan food culture.The Asia-Pacific (APAC) region is anticipated to witness the fastest growth, fueled by increasing disposable income, changing dietary habits, and the presence of a large vegetarian population. South America and the Middle East and Africa (MEA) regions are expected to contribute a smaller yet growing share of the vegan meal market as veganism gains traction in these regions.
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Vegan Meal Market Key Players And Competitive Insights
Major players in the Vegan Meal Market industry are constantly striving to gain a competitive edge by introducing innovative products and expanding their geographical reach. Leading Vegan Meal Market players are investing heavily in research and development to create new and improved vegan meal options that meet the evolving needs of consumers. The Vegan Meal Market development is driven by a growing demand for plant-based foods due to increasing health consciousness and environmental concerns. The competitive landscape is characterized by the presence of both established and emerging players, with each player employing unique strategies to capture market share.Beyond Meat is a leading company in the Vegan Meal Market industry, known for its innovative plant-based meat alternatives. The company's products include a wide range of meatless options, including burgers, sausages, and ground beef. Beyond Meat has established partnerships with major restaurant chains and retailers worldwide, making its products easily accessible to consumers. The company's focus on taste and nutritional value has contributed to its success, allowing it to gain a significant market share.A competitor to Beyond Meat in the Vegan Meal Market is Impossible Foods. The company is recognized for its plant-based burgers, which are designed to mimic the taste and texture of traditional beef burgers. Impossible Foods has made significant progress in developing its products, and its burgers have been featured in several fast-food chains. The company's commitment to sustainability and its use of innovative ingredients have set it apart in the market.
Key Companies in the Vegan Meal Market Include
- Lightlife
- Field Roast Grain Meat
- Beyond Meat
- VBites
- MorningStar Farms
- Boca Burger
- Good Catch
- Impossible Foods
- Daiya Foods
- Follow Your Heart
- Tofutti Brands
- Quorn
- Amy's Kitchen
- Vgarden
- Gardein
Vegan Meal Market Industry Developments
In 2023, the vegan meal market was valued at USD 30.75 billion, projected to reach USD 78.94 billion by 2032, exhibiting a CAGR of 11.04%. Rising awareness about the ethical and environmental benefits of veganism, coupled with the growing popularity of plant-based diets, is driving market growth. Recent developments include the launch of innovative vegan meal delivery services and restaurant chains catering to the increasing demand for convenient and accessible vegan options. Key players are expanding their product portfolios to meet the evolving needs of consumers, introducing a wide range of plant-based meat, dairy, and egg alternatives.
Vegan Meal Market Segmentation Insights
- Vegan Meal Market Meal Type Outlook
- Breakfast
- Lunch
- Dinner
- Snacks
- Vegan Meal Market Distribution Channel Outlook
- Supermarkets/Hypermarkets
- Online Retailers
- Convenience Stores
- Health Food Stores
- Vegan Meal Market Product Category Outlook
- Vegan Meat Substitutes
- Plant-Based Dairy
- Vegan Baked Goods
- Vegan Soups and Stews
- Vegan Ready-to-Eat Meals
- Vegan Meal Market Dietary Preference Outlook
- Gluten-Free
- Soy-Free
- Nut-Free
- Non-GMO
- Vegan Meal Market Packaging Outlook
- Fresh
- Frozen
- Canned
- Packaged
- Vegan Meal Market Regional Outlook
- North America
- Europe
- South America
- Asia Pacific
- Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
27.7(USD Billion) |
| Market Size 2023 |
30.75(USD Billion) |
| Market Size 2032 |
78.94(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
11.04% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
Lightlife, Field Roast Grain Meat, Beyond Meat, VBites, MorningStar Farms, Boca Burger, Good Catch, Impossible Foods, Daiya Foods, Follow Your Heart, Tofutti Brands, Quorn, Amy's Kitchen, Vgarden, Gardein |
| Segments Covered |
Meal Type, Distribution Channel, Product Category, Dietary Preference, Packaging, Regional |
| Key Market Opportunities |
Rising Health Consciousness Plant-Based Convenience Foods Expanding Food Delivery Innovation in PlantBased Ingredients Growing Awareness of Environmental Sustainability |
| Key Market Dynamics |
Rising health consciousness Growing vegan population Increasing demand for plant-based diets Government initiatives Product innovation. |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Vegan Meal Market is expected to be valued at 30.75 billion USD in 2023.
The Vegan Meal Market is projected to grow at a CAGR of 11.04% from 2024 to 2032.
North America is expected to hold the largest market share in the Vegan Meal Market in 2023, accounting for approximately 38% of the market.
The ready-to-eat segment is expected to contribute the most to the Vegan Meal Market in 2023, accounting for approximately 45% of the market.
Some of the key competitors in the Vegan Meal Market include Amy's Kitchen, Beyond Meat, Impossible Foods, Quorn Foods, and Tofutti Brands.
The key growth drivers of the Vegan Meal Market include the increasing demand for plant-based foods, the growing popularity of veganism, and the rising awareness of the health benefits of vegan diets.
The key challenges facing the Vegan Meal Market include the high cost of vegan ingredients, the limited availability of vegan products, and the lack of awareness of the benefits of vegan diets.
The key trends in the Vegan Meal Market include the development of new vegan products, the increasing popularity of plant-based meal delivery services, and the growing demand for vegan food in restaurants.
The Vegan Meal Market is expected to be valued at 78.94 billion USD in 2032.
The Vegan Meal Market is projected to grow at a CAGR of 11.04% from 2024 to 2032.
