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Vegan Food Market Size, Industry Analysis Report By Distribution Channel (Supermarkets/Hypermarkets, Convenience Stores, Specialty Stores, Online), By Product Type (Dairy Alternatives, Meat Substitutes, Egg Alternative, Vegan Bakery, Confectionery, Plant-Based Snacks) & Region – Forecasts

  • PUBLISHED ON
  • 06/12/2022
  • NO OF PAGES
  • 201
  • CATEGORY
  • Food & Beverages
Global Vegan Food Market- Overview
It is estimated for the global vegan food market to witness growth at a CAGR of 10.5% during the forecast period of 2022 to 2030. The market witnessed growth at a CAGR of 8.4% during the previous forecast period of 2018 to 2021. A vegan diet is based on plants (such as vegetables, grains, nuts and fruits) and foods made from plants. Vegans do not eat foods that come from animals, including dairy products and eggs. The various benefits associated with the vegan foods is estimated to boost the growth of the market during the forecast period.

Global Vegan Food Market- Growth Factors
The growing awareness about the consumption of the vegan food and the health benefits associated with these foods is estimated to boost the growth of the market during the forecast period. Apart from this, the spreading awareness about the non-consumption of the non-vegetarian food in order to save the lives of the animals is also making people to switch to the vegan form of food consumption. Also, the spreading of the awareness regarding the consumption of vegan foods by various celebrities all over the world is also estimated to boost the growth of the market during the forecast period. However, the higher cost of these vegan foods makes it difficult for the people of all segments to consume it and this factor is estimated to hamper the growth of the market during the forecast period.

Global Vegan Food Market- Market Trends
• The growing awareness about the consumption of the vegan food and the health benefits associated with these foods is estimated to boost the growth of the market during the forecast period.
• Apart from this, the spreading awareness about the non-consumption of the non-vegetarian food in order to save the lives of the animals is also making people to switch to the vegan form of food consumption.
• However, the higher cost of these vegan foods makes it difficult for the people of all segments to consume it and this factor is estimated to hamper the growth of the market during the forecast period.

Global Vegan Food Market- Segmentation
The global vegan food market is segmented based on product type and distribution channel.

Based on product type, the market is segmented into,
• Dairy Alternatives
• Meat Substitutes
• Egg Alternative
• Vegan Bakery
• Confectionery
• Plant-Based Snacks
• Others

Based on the distribution channel, the market is being segmented into,
• Supermarkets/Hypermarkets
• Convenience Stores
• Specialty Stores
• Online
• Others

Global Vegan Food Market – Regional Analysis
It is estimated for the region of US to drive the growth of the market during the forecast period. The growing in the technological advancements in the food sector in the region is estimated to foster the growth of the market during the forecast period. The region of Europe is estimated to witness growth at a healthy rate during the forecast period. The Asia Pacific region is also estimated to witness a notable growth rate in the market.

Global Vegan Food Market – Key Market players
Danone S.A, The Archer Daniels Midland Company, Daiya Foods Inc., Ripple Foods Inc., Impossible Foods Inc., Eat Just, Inc., Beyond Meat, Inc., Amy's Kitchen, Tofutti Brands Inc., Earth’s Own Food Company Inc., and others are the major players that are boosting the growth of the market during the forecast period.

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Market Research Process




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Case Study- Automotive Sector

One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).

Solution

The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research

The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.

Market Estimates and Forecast

In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.

Case Study- ICT Sector

Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.


Business Solution

An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.


Conclusion

The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.

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