Global Veggie Meals Market Overview
Veggie Meals Market Size was estimated at 32.24 (USD Billion) in 2022. The Veggie Meals Market Industry is expected to grow from 34.95(USD Billion) in 2023 to 72.3 (USD Billion) by 2032. The Veggie Meals Market CAGR (growth rate) is expected to be around 8.41% during the forecast period (2024 - 2032).
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Key Veggie Meals Market Trends Highlighted
One of the factors contributing towards the quicker development of the worldwide veggie meals market is the growing realization of the health aspects resulting from plant-based diets. Additionally, the rising popularity of ethical consumerism is helping push the demand for meatless options. Changes in food technology have also enabled a range of vegetable meals and enhanced the flavor of food products appealing to a large group of people.
Key market drivers are the increasing acceptance of flexitarian and vegetarian diets and the growing range of plant-derived replacements for meat and its products. The growth opportunities are in providing yummy veggie meals that are able to meet the changing tastes of consumers.
Among recent trends in the veggie meals market are plant-based meat substitutes, the growth of vegan and vegetarian fast-food chains, and the popularity of meal delivery services with vegetarian kits. These trends indicate that people want to eat more fresh vegetables, are more interested in plant-based foods, and seek ready-to-eat and quick-to-deliver meals without any meat in them.
Veggie Meals Market Drivers
Rising Health Consciousness and Veganism
Consumers are becoming increasingly aware of the health benefits associated with plant-based diets, leading to a surge in demand for veggie meals. Veganism, in particular, is gaining popularity due to concerns over animal welfare, environmental sustainability, and personal health. As a result, food manufacturers are expanding their veggie meal offerings to cater to this growing consumer base.
Convenience and Accessibility
The fast-paced lifestyles of modern consumers have created a demand for convenient and accessible food options. Veggie meals are often perceived as healthier and more convenient than traditional meat-based meals, making them an attractive choice for busy individuals and families. The availability of veggie meals in various formats, such as frozen, ready-to-eat, and meal kits, has further enhanced their accessibility.
Government Initiatives and Sustainability Concerns
Governments worldwide are increasingly recognizing the environmental and health benefits of plant-based diets. This has led to initiatives that promote and subsidize the production and consumption of veggie meals. Additionally, consumers are becoming more environmentally conscious and are seeking sustainable food options. Veggie meals align with these concerns, as they have a lower carbon footprint and require less land and water resources than meat production.
Veggie Meals Market Segment Insights
Veggie Meals Market Meal Type Insights
The Meal Type segment of the Veggie Meals Market is classified into Ready-to-Eat Meals, Frozen Meals, and Home-Cooked Meals. Ready-to-eat meals are gaining popularity due to their convenience and time-saving features. The Veggie Meals Market revenue for Ready-to-Eat Meals is projected to reach USD 18.42 billion by 2024, exhibiting a CAGR of 8.1% during the forecast period. Frozen Meals offer extended shelf life and are witnessing increasing demand from consumers seeking healthier options. The Veggie Meals Market segmentation for Frozen Meals is estimated to be valued at USD 12.23 billion in 2024, growing at a CAGR of 7.5%.Home-cooked meals, on the other hand, remain popular among consumers who prefer homemade food. The Veggie Meals Market data for Home-Cooked Meals is expected to grow steadily, accounting for a significant share of the overall market. These insights highlight the diverse preferences and evolving trends within the Veggie Meals Market industry, catering to the varying needs of consumers worldwide.
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Veggie Meals Market Ingredient Type Insights
Organic and non-organic. The Organic segment is expected to grow at a CAGR of 9.1% during the forecast period. The non-organic segment is expected to grow at a CAGR of 7.8% during the same period. The Veggie Meals Market revenue for the Organic segment is projected to be valued at USD 18.97 Billion by 2024, and the non-organic segment is projected to be valued at USD 53.33 billion by 2024. The growth of the Organic segment is clubbed by factors such as the constant rise in the demand for organic food products. In addition, the rise in the disposable income of consumers is also a reason driving the growth of the segment.The Non-Organic segment is also expected to grow due to the rise in the demand for convenience food products.
Veggie Meals Market Cuisine Insights
The Veggie Meals Market is segmented by Cuisine into Asian, Indian, Mexican, and Italian. The Asian cuisine segment is expected to account for the largest market share in 2023, owing to the increasing popularity of Asian cuisine worldwide and the growing demand for plant-based alternatives to traditional meat-based dishes. The Indian cuisine segment is also expected to witness significant growth over the forecast period due to the rising demand for vegetarian and vegan food options in India and the growing popularity of Indian cuisine in other parts of the world.The Mexican and Italian cuisine segments are also expected to contribute to the growth of the Veggie Meals Market, as more and more consumers are looking for healthy and flavorful vegetarian and vegan options.
Veggie Meals Market Distribution Channel Insights
The Veggie Meals Market is segmented based on distribution channels into supermarkets and hypermarkets, convenience stores, online retailers, and restaurants. Among these, supermarkets and hypermarkets held the largest share of the market in 2023, accounting for nearly half of the Veggie Meals Market revenue. This is due to the wide availability of veggie meals in these channels and the convenience they offer to consumers. Convenience stores are expected to witness the fastest growth over the forecast period, owing to the increasing popularity of grab-and-go options and the expansion of convenience store chains.Online retailers are also gaining traction, driven by the growing popularity of e-commerce and the wide selection of veggie meals available online. Restaurants are expected to hold a significant share of the market, as they offer a convenient and enjoyable dining experience for consumers seeking veggie meals.
Veggie Meals Market Target Audience Insights
The target audience for Veggie Meals Market consists of various groups with distinct dietary preferences and lifestyles. Vegetarians, who abstain from consuming meat, represent a significant segment, accounting for around 10% of the population. Vegans, a subset of vegetarians, adhere to a stricter diet, excluding all animal products, including dairy and eggs. Flexitarians, on the other hand, are semi-vegetarians who occasionally consume meat but primarily focus on plant-based meals. These groups are driven by ethical concerns, environmental sustainability, and health benefits associated with plant-based diets.Health-conscious consumers, motivated by the desire for better nutrition and well-being, also contribute to the growing demand for veggie meals.
Veggie Meals Market Regional Insights
The Veggie Meals Market is segmented into North America, Europe, APAC, South America, and MEA. North America held the largest market share in 2023 and is expected to maintain its dominance throughout the forecast period. The growth of the North American market can be attributed to the increasing demand for plant-based foods, the presence of major market players, and the rising popularity of vegan and vegetarian diets. Europe is the second-largest market for veggie meals, followed by APAC, South America, and MEA. The APAC region is expected to witness the highest growth rate during the forecast period, owing to the growing population, increasing disposable income, and rising awareness of plant-based diets.The Veggie Meals Market segmentation provides valuable data for market players to plan their strategies and make informed decisions.
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Veggie Meals Market Key Players And Competitive Insights
Major players in the Veggie Meals Market industry are constantly striving to gain a competitive edge by investing in research and development, expanding their product portfolios, and forming strategic partnerships. Leading Veggie Meals Market players are focusing on developing innovative and sustainable veggie meals to cater to the evolving preferences of health-conscious consumers. The Veggie Meals Market industry is characterized by intense competition, with numerous established and emerging players vying for market share.Amy's Kitchen is a leading player in the Veggie Meals Market industry, renowned for its commitment to producing organic and ethically sourced veggie meals. The company has a strong presence in the North American market and is actively expanding its reach. Amy's Kitchen places a strong emphasis on sustainability and ethical practices throughout its operations. It is known for its wide range of frozen and refrigerated veggie meals, including entrees, soups, and snacks.One of the key competitors in the Veggie Meals Market industry is Beyond Meat, a plant-based meat substitute provider. The company has gained significant traction in the market with its innovative plant-based burgers, sausages, and other meat alternatives. Beyond Meat focuses on providing consumers with realistic and flavorful plant-based options that mimic the taste and texture of traditional meat products. The company has established partnerships with major fast-food chains and retailers to expand its distribution channels and increase brand visibility.
Key Companies in the Veggie Meals Market Include
- Yves Veggie Cuisine
- Nestle S. A
- Beyond Meat
- General Mills
- Field Roast
- Tofurky
- Praeger's Sensible Foods
- Gardein
- Lightlife Foods
- Unilever
- Kellogg's
- McCain Food
- Amy's Kitchen
- Impossible Foods
- Quorn Foods
Veggie Meals Market Industry Developments
The veggie meals market is projected to reach USD 72.3 billion by 2032, exhibiting a CAGR of 8.41% from 2024 to 2032. Increasing health consciousness and the growing popularity of plant-based diets are driving market growth. Rising disposable income and urbanization in developing countries are also contributing factors. Key industry participants are focusing on product innovation and expanding their distribution channels to cater to the growing demand for veggie meals. Recent developments include the launch of new plant-based meat alternatives and the expansion of vegan and vegetarian restaurant chains.
Veggie Meals Market Segmentation Insights
- Veggie Meals Market Meal Type Outlook
- Ready-to-Eat Meals
- Frozen Meals
- Home-Cooked Meals
- Veggie Meals Market Ingredient Type Outlook
- Veggie Meals Market Cuisine Outlook
- Asian
- Indian
- Mexican
- Italian
- Veggie Meals Market Distribution Channel Outlook
- Supermarkets and Hypermarkets
- Convenience Stores
- Online Retailers
- Restaurants
- Veggie Meals Market Target Audience Outlook
- Vegetarians
- Vegans
- Flexitarians
- Health-Conscious Consumers
- Veggie Meals Market Regional Outlook
- North America
- Europe
- South America
- Asia Pacific
- Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
32.24(USD Billion) |
| Market Size 2023 |
34.95(USD Billion) |
| Market Size 2032 |
72.3(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
8.41% (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 |
Yves Veggie Cuisine, Nestle S.A, Beyond Meat, General Mills, Field Roast, Tofurky, Dr. Praeger's Sensible Foods, Gardein, Lightlife Foods, Unilever, Kellogg's, McCain Food, Amy's Kitchen, Impossible Foods, Quorn Foods |
| Segments Covered |
Meal Type, Ingredient Type, Cuisine, Distribution Channel, Target Audience, Regional |
| Key Market Opportunities |
Growing health consciousness Increasing vegan population Expanding food delivery services Rising demand for plant-based options Technological advancements in food processing. |
| Key Market Dynamics |
Rising health consciousness Growing vegan population Increasing demand for convenience foods Expanding food delivery services Innovations in plant-based meat alternatives. |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Veggie Meals Market is expected to reach a valuation of USD 34.95 billion in 2023 and is projected to grow at a CAGR of 8.41% from 2024 to 2032, reaching a valuation of USD 72.3 billion by 2032.
North America and Europe are the dominant regions in the Veggie Meals Market, accounting for a significant share of the market. Asia-Pacific is expected to witness the fastest growth rate during the forecast period, owing to the increasing demand for plant-based foods in the region.
Veggie Meals are primarily consumed as a convenient and healthy meal option. They are popular among vegetarians, vegans, and flexitarians. Veggie Meals are also used in food service establishments, such as restaurants, cafes, and hospitals.
Major players in the Veggie Meals Market include Amy's Kitchen, Beyond Meat, Impossible Foods, Quorn Foods, and Unilever. These companies are focusing on product innovation, expansion into new markets, and strategic partnerships to maintain their market position.
The rising demand for plant-based foods, the growing popularity of flexitarian diets, and the increasing awareness of the environmental benefits of plant-based foods are key trends driving the growth of the Veggie Meals Market.
The Veggie Meals Market faces challenges such as the high cost of plant-based ingredients, the limited availability of these ingredients in some regions, and the perception that plant-based foods are less flavorful than animal-based foods.
Opportunities for growth in the Veggie Meals Market include the development of new and innovative plant-based products, the expansion into emerging markets, and the collaboration between food companies and research institutions to improve the taste and texture of plant-based foods.
The Veggie Meals Market is expected to grow at a CAGR of 8.41% from 2024 to 2032, reaching a valuation of USD 72.3 billion by 2032.
The growing demand for plant-based foods, the increasing popularity of flexitarian diets, and the rising awareness of the environmental benefits of plant-based foods are key factors driving the growth of the Veggie Meals Market.
The high cost of plant-based ingredients, the limited availability of these ingredients in some regions, and the perception that plant-based foods are less flavorful than animal-based foods are key challenges facing the Veggie Meals Market.
