Vegan Food Market Reaches $116.33 Billion Goal by 2031

Vegan Food Market to be Worth $116.33 Billion by 2031

Global Vegan Food Market 2023-2030 Meticulous Research , a leading global market research firm, has released a report titled "Vegan Food Market by Type (Dairy Alternatives [Yogurt, Milk, Ice Cream, Cheese, Butter], Meat Substitutes [Tofu, Sausages, Ground Meat, Meatballs, Nuggets]) and Distribution Channel (Business-to-Business, Business-to-Consumer) - Global Forecast to 2031." According to Meticulous Research 's latest findings, the vegan food market is poised to reach $116.33 billion by 2031, exhibiting a compound annual growth rate (CAGR) of 11.7% from 2024 to 2031. This growth is driven by factors such as the increasing vegan population, heightened research and development efforts, growing demand for protein-rich products, and rising consumer preference for plant-based alternatives due to animal protein intolerance. However, the market's expansion may be hampered by the relatively higher cost of vegan products. Key Players The report presents a competitive landscape through a thorough evaluation of key strategic developments among leading players in the vegan food market. Notable companies in this sector include The Archer Daniels Midland Company (U.S.), Hain Celestial Group, Inc. (U.S.), SunOpta, Inc. (Canada), Danone S.A. (France), Conagra Brands, Inc. (U.S.), Axiom Foods, Inc. (U.S.), Daiya Foods Inc. (Canada), Kellogg Company (U.S.), Beyond Meat, Inc. (U.S.), Impossible Foods, Inc. (U.S.), Tofutti Brands, Inc. (U.S.), Amy's Kitchen, Inc. (U.S.), Taifun-Tofu GmbH (Germany), Atlantic Natural Foods, LLC (part of Aft Holdings, Inc.) (U.S.), VBites Food, Ltd. (U.K.), and Nutrisoy Pty, Ltd. (Australia). The vegan food market is segmented by type, including dairy alternatives (yogurt, milk, ice cream, cheese, butter, and other dairy alternatives), meat substitutes (tofu, sausages, ground meat, meatballs, nuggets, and other meat substitutes), ready-to-eat meals, bakery products, confectionery, protein bars & snacks, and other vegan foods. Distribution channels encompass business-to-business and business-to-consumer categories such as modern groceries (supermarkets & hypermarkets), convenience stores, online retail, specialty stores, and other distribution channels. Geographically, the market is analyzed across North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa, with detailed assessments of industry competitors and regional market dynamics. Based on type, in 2024, the dairy alternatives segment is expected to dominate the vegan food market, holding the largest share. This growth is fueled by increasing awareness of lactose intolerance, a rising preference among consumers for vegan diets, the nutritional benefits offered by plant-based dairy substitutes, heightened investments in dairy alternative products, and the expanding community of vegans and vegetarians worldwide. Based on distribution channel, in 2024, the business-to-consumer segment is expected to lead the vegan food market, capturing the largest share. This dominance is driven by increased sales of vegan food through supermarket and hypermarket chains, traditional grocery stores, rapid urbanization, rising per capita disposable income, expansion of Page 1 of 3 Meticulous Research| sales@meticulousresearch.com

Global Vegan Food Market 2023-2030 supermarkets and hypermarkets, and a growing consumer preference for vegan food products. Based on geography, by 2024, North America is expected to dominate the vegan food market, holding the largest share. This significant market position is driven by heightened awareness of sustainable and environmentally friendly diets, technological advancements in the food industry, a growing vegan population, and the presence of major market players in the region.. Download Sample Report Here @ https://www.meticulousresearch.com/download-sample- report/cp_id=5788 Key questions answered in the report- What is the current global revenue generated by the vegan food market? What is the projected growth rate for global vegan food demand over the next 5 7 years? What have been the historical market sizes and growth rates of the global vegan food market? What are the primary factors driving growth in this market both globally and regionally? What significant opportunities are available for both established players and newcomers in the market? Which segments, in terms of type and distribution channel, are expected to drive substantial interest and activity among companies in this market? What are the primary geographical trends observed in this market? Which regions or countries are expected to offer notable growth prospects for manufacturers operating in the vegan food market? Who are the leading players in the global vegan food market, and what specific products do they offer within this market? What recent strategic developments have occurred in the global vegan food market, and what are their implications for the market? Page 2 of 3 Meticulous Research| sales@meticulousresearch.com

Global Vegan Food Market 2023-2030 Contact Us: Meticulous Research Email- sales@meticulousresearch.com Contact Sales- +1-646-781-8004 Connect with us on LinkedIn- https://www.linkedin.com/company/meticulous- research Page 3 of 3 Meticulous Research| sales@meticulousresearch.com