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An increase in concern about the environment among the population are expected to drive innovation in vegan food manufacturing, thus driving the market during the forecast period.

The global vegan food market is expected to grow from $16.05 billion in 2022 to $18.27 billion in 2023 at a compound annual growth rate (CAGR) of 13.8%. The global vegan food market size is expected to grow from $29.19 billion in 2027 at a CAGR of 12.4%.

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Global Vegan Food Market Segments Include:

• By Product Substitute: Dairy Alternative, Meat Substitute, Other Product Substitutes
• By Distribution Channel: Online, Offline
• By Source: Wheat, Soy, Oats, Almond, Other Sources
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global vegan food market in 2021.

Major Market Players in the vegan food market include Amy’s Kitchen, Vitasoy International Holdings Ltd., Beyond Meat, Tofutti Brands, Plamil Foods Ltd., Danone S.A., Vbites Foods Ltd.

One of the trends in the vegan market is the production of meat through cell-based technology. The cell-by-cell identical meat is produced in factories without involving the killing of animals. Production of cell-based meat involves feeding the animal cells with nutrients and proteins, thus eliminating the need for dependence on animals for meat. For instance, in October 2022, a US-based pet food manufacturer introduced the cellular-based meat broth topper for dogs known as chicken broth topper, which will replace factory-framed products with cruelty-free cell-based meet to challenges related to the low quality and contamination of pet food. Other major players such as Tyson Foods., an U.S.A. based processor and marketer of chicken, beef, and pork, are also investing in Memphis Meats in order to support the cell -based meat production.

The Vegan Food Global Market Report 2023  provides a vegan food market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The vegan food market forecast analyzes vegan food market size, vegan food market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Vegan foods are foods that are produced without the use of animal ingredients or animal-derived ingredients.

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