Vegan Food Market Growth Accelerated by Rising Demand for Plant-based diet

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Vegan Food Market Growth Accelerated by Rising Demand for Plant-based diet

Vegan food products including plant-based meat, dairy alternatives and other vegan snacks are gaining high traction worldwide owing to rising awareness about various health and environmental benefits associated with vegan diet. Growing health-consciousness among people and shift towards flexible lifestyle is propelling the demand for vegan food products which provide essential nutrients. Vegan food products contain fiber, vitamins and minerals without any animal-based ingredients.

The global Vegan Food Market is estimated to be valued at US$ 17987.14 Mn in 2023 and is expected to exhibit a CAGR of 8.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

The rising demand for plant-based diet is one of the major trends fueling the growth of global vegan food market over the forecast period. With growing popularity of veganism, there is remarkable surge in number of vegans and flexitarians worldwide. Consumers are increasingly preferring vegan substitutes for meat, dairy and other animal-based food products due to health, ethical and environmental concerns regarding conventional food items. Manufacturers are innovating various vegan options for daily consumption as well as specialty items to cater to evolving consumer demand. They are utilizing advanced technologies and novel ingredients to improve taste, texture and mouthfeel of vegan products to make them more comparable substitutes for non-vegan items. This growing product innovation is supporting the market expansion.

Segment Analysis

Within the vegan food market, dairy alternatives currently dominate the market and are expected to remain the largest segment during the forecast period. Plant-based milk alternatives are the largest sub-segment within dairy alternatives due to the rising health concerns regarding dairy consumption. Almond milk and soy milk are currently the most consumed non-dairy milks worldwide owing to their nutritional profile and texture resembling cow's milk.

Key Takeaways

Global Vegan Food Market Size is expected to witness high growth during the forecast period of 2023 to 2030. The Asia Pacific region is projected to be the fastest growing regional market owing to rising health awareness and improving economic conditions in countries like China and India. Key players operating in the APAC vegan food market are Hain Celestial and SunOpta Inc.

In North America, the US currently dominates the regional market. Increased awareness about the benefits of a vegan diet combined with easy availability of plant-based food products has further propelled the demand for vegan food in the country. WhiteWave is a prominent player in the North American market.

In Europe, countries like Germany and UK have traditionally been early adopters of veganism. A strong presence of vegan communities and favorable government policies promoting sustainable food habits have consolidated Europe's position as a leading regional market.

Key players operating in the vegan food market are Hain Celestial, SunOpta Inc., WhiteWave, and Others. Hain Celestial enjoys a significant market share due to their diverse portfolio of plant-based brands. SunOpta specializes in soy foods and plant-based beverages. WhiteWave is a market leader in plant-based dairy alternatives in North America.

Get More Insights on this Topic- https://www.marketwebjournal.com/vegan-food-market-value-insights-and-trends/

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Indian Vegan Food: Plethora of Delicious Plant-Based Options

Lucy Kart 2024-02-20

Some of the most common Indian dals include toor or arhar dal, moong dal, chana dal and masoor dal. Being vegan, affordable and highly nutritious, dals are an indispensable part of Indian vegan diets. From mild spinach to fiery gongura leaves, from humble potatoes to exotic mushrooms – vegetables form the mainstay of most Indian vegan thalis and meals. Some everyday condiments that impart robust flavors in vegan Indian cuisine include chopped onions, ginger-garlic-green chili pastes, fresh coriander and mint chutneys. With innovative adaptations, Indian vegan baking is thriving too with cakes, cookies and puddings.

Indian Vegan Food Market is Estimated to Witness High Growth Owing to Opportunity in Health-conscious Population

Purvaja 2024-02-08

The global Indian vegan food market is estimated to be valued at US$ 1724. Leading food brands are launching innovative plant-based food products to cater to the rising demand from health-conscious consumers, which is expected to propel the Indian vegan food market growth over the forecast period. Bargaining power of buyers: Buyers in the Indian vegan food market have moderate to high bargaining power due to the availability of substitutes. Key Takeaways The Global Indian Vegan Food Market Demand is expected to witness high growth over the forecast period due to changing lifestyle and eating patterns in India. The presence of key cities like Mumbai and Pune with rising health awareness is driving the growth of the vegan food market in this region.

Indian Vegan Food: A Sustainable and Compassionate Choice

Ben Wood 2023-07-03

Choosing Indian Vegan Food is not only a decision that benefits personal health but also promotes sustainability and compassion. With a rich tradition of vegetarianism and plant-based diets, Indian cuisine offers a wide range of vegan options that are both delicious and ethical. By adopting a vegan lifestyle and embracing Indian vegan food, individuals can reduce their carbon footprint and contribute to environmental conservation. Additionally, choosing Indian Vegan Food aligns with principles of compassion by respecting the lives and welfare of animals. In conclusion, if you're looking to spice up your plant-based diet, look no further than Indian vegan food.

Vegan Food Market Share 2023- Global Industry Trends, Revenue, Growth Drivers, Challenges, Business Opportunities and Future Outlook till 2033: SPER Market Research

Versha 2024-03-07

The adoption of these items in place of traditional meat and meat products is growing. Businesses now have the chance to develop and provide a wide range of healthful and delicious vegan food alternatives thanks to this trend. The limited availability and accessibility of vegan food items in some places is another problem. sample=1Impact of COVID-19 on Global Vegan Food Market Plant-based and vegan products are in high demand as a result of the pandemic's heightened awareness of health and wellbeing. By Distribution Channel: Based on the Distribution Channel, Global Vegan Food is segmented as; Supermarkets and Hypermarkets, Convenience Stores, Speciality Stores and Online.

A Deep Dive into the Sustaining Trends and Emerging Opportunities within the Indian Vegan Food Market: An In-Depth Market Study

Mia Yates 2024-02-01

This report aims to provide insights into the key trends, market dynamics, Porter's analysis, and key takeaways shaping the Indian Vegan Food Market. Celebrity Endorsements: Influential figures and celebrities advocating for veganism have significantly contributed to the mainstream acceptance of vegan food products. Government Initiatives: Government initiatives promoting sustainable agriculture and healthy eating habits have further boosted the demand for vegan food products. Supply Chain Challenges: Procurement of quality ingredients, distribution logistics, and shelf-life maintenance pose challenges to manufacturers and retailers operating in the Indian Vegan Food Market. In conclusion, the Indian Vegan Food Market presents significant opportunities for growth amidst changing consumer preferences and increasing awareness of health and environmental concerns.

Vegan Food Market Size, CAGR, Trends 2022–2030

amols shinde 2024-02-27

These meat alternatives, which are mostly made of soy and wheat among other ingredients, are becoming more and more popular as alternatives to conventional meat products. The customer base within the vegan food sector is growing as a result of growing awareness of the health advantages of plant-based goods. A rise in the market for plant-based dairy products and meat alternatives would facilitate the adoption of vegan diets. Growing consumer demand in this market is being driven by growing knowledge of the health benefits linked to vegan products. Robbin Joseph Corporate Sales, USA We Market Research USA: +1-724-618-3925 Websites: https://wemarketresearch.

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