Packaged Vegan Food Market Drivers and Restraints Forecast Report 2024

Posted by Shiva on October 11th, 2019

Packaged Vegan Food Market Insights:

Consumers focusing on lessening the animal-based dairy products have started preferring packaged vegan food. Packaged vegan food is made without the employment of any meat-based ingredients, leading to low fat and cholesterol. Rising number of individuals are nowadays turning to vegan due to their love and compassion toward animals and the environment. The packaged vegan food are prepared with the help of plant based ingredients that give phytochemical, which assist in boosting protective enzyme in the human body. Furthermore, in place of dairy products and meat, one can intake nuts and whole grains that can help in enhancing the cardiovascular health.

Packaged Vegan Food Market Expected Growth Rate:

Packaged Vegan Food Market value was at USD 12.70 Billion in 2018, and it is expected to expand at a CAGR of 9.5% during the forecast period from 2019-2024.

Packaged Vegan Food Market Drivers and Restraints:

One of the key driving factors of packaged vegan food is the health advantages it offers, such as assistance in avoiding diseases like heart attack and diabetes. Another driving factor for the packaged vegan food is the rising concern for animal welfare. Animal activists are fighting globally against animal cruelty in the dairy and meat industries, which acts as one of the motivational factors for the individuals to become vegan. Escalated focus on environmental pollution is also a key factor for customers to opt for packaged vegan foods. 

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Market Segmentation:

By Product Type:

  • vegan dairy alternatives
  • packaged vegan meals and meat alternatives
  • vegan bakery and confectionery products
  • other packaged vegan foods

By Distributional channels:

  • Supermarkets and Hypermarkets
  • Natural and Organic Stores
  • Others

Geographical analysis:

Based on geography, the world market is segmented into Europe, North America, Asia Pacific, Middle East and Africa, and Latin America. In 2015, North America dominated the global packaged vegan food market on the basis of revenue share.

Important market players:

  • Amy’s Kitchen
  • Beyond Meat
  • Plamil Foods
  • Tofutti Brands
  • WhiteWave Foods
  • Others

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The Scope of the report:

This report offers the current product and services market evaluation and the future estimation of the market. It helps us understand the market better through size anticipation and CAGR calculation to estimate the next market. It has a broader segmentation for better understanding of the enterprising of the market at a low level by segregating the market into smaller sectors.

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Joined: June 11th, 2019
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