The "Vegan Food Market Size and Share Analysis - Growth Trends and Forecast Report 2025-2033" report has been added to ResearchAndMarkets.com's offering.
Vegan Food Market is expected to reach US$ 46.09 billion 2033 from US$ 20.06 billion in 2024, with a CAGR of 9.68% from 2025 to 2033
The vegan food market is growing due to a number of factors, including growing environmental awareness, animal welfare awareness, health consciousness, plant-based product developments, the growing number of vegans, growing availability, social media influence, and backing from large food corporations.
The market for vegan cuisine is expanding rapidly in all regions. Due to environmental and health consciousness, North America has the most demand, followed by Europe, where plant-based diets are also becoming more popular. Due to growing health consciousness and vegetarian cultures, Asia-Pacific is growing quickly. Although acceptance is still slower, interest in plant-based choices is growing in Latin America and the Middle East. The market's evolution is influenced by cultural and regional preferences.
Growth Drivers for the Vegan Food Market
Consumers' Growing Health Consciousness Will Fuel Market Growth
People suffer from health issues including obesity and cardiovascular disease as a result of their sedentary lives. A vegan diet lowers the risk of cardiovascular disease, increases blood flow, and aids in weight loss. A study that was published in the Journal of the American Medical Association claims that vegans live longer than persons who eat meat. Adopting a vegan diet also helps to enhance the body's metabolism because it is high in fiber. As a result, consumers who are concerned about their health are steadily calling for a vegan diet.
In response to the increasing market demand, food manufacturers, chains, and fine dining establishments like Amy's Kitchen, Inc. are introducing new goods and vegan cuisine recipes. In an effort to draw in health-conscious customers who want to try new, delicious, and nutritious foods, vegan recipes made with pumpkin, avocado, and other nutritious ingredients are introduced to the market.
The market is expanding as a result of shifting consumer tastes.
Many customers live sedentary lifestyles. Obesity and cardiovascular disease are two health issues that affect the majority of people on the planet. The OECD predicts that obesity rates will be especially high in the United States, Mexico, and England by 2030, with 47%, 39%, and 35% of the populations, respectively, likely to be fat. Customers are more inclined to choose plant-based diets as a result of increased awareness of animal abuse and welfare in the food sector.
In many countries, such as the US, Australia, New Zealand, the UK, Ireland, Israel, and Canada, veganism is becoming more and more popular. Meat products are no longer consumed by American consumers. The consumer base for vegan foods is growing as more people become aware of the health benefits of plant-based foods. A lower risk of heart disease, stroke, and early death are further advantages of plant-based diets. If the market for dairy products and meat alternatives grows, it will help people switch to vegan diets.
Growing Concern and Knowledge of Animal Welfare
People are more inclined to make choices that reflect their values as they gain knowledge about the morality of animal husbandry. This indicates a shift toward vegan options. A customer who is deeply concerned about animal welfare can decide not to consume any animal products. They opt for plant-based diets devoid of animal suffering and maltreatment.
A wide variety of vegan solutions have been developed and made available as a result of the necessity for ethical food production. A compassionate movement to advance a better food culture for animals is being propelled by increased public awareness of the harshness of industrial farming and animal testing.
In an effort to support an even more humane food system, many people actively look for vegan substitutes. In response to this increasing demand, businesses and food producers created and marketed a wide range of inventive and delicious vegan items. For instance, out of 130 million Mexicans, an incredible 20% have adopted a vegan lifestyle by avoiding animal-based foods and drinks, according to data from Vegconomist, the vegan business magazine. Additionally, the rising incidence of chronic illnesses like diabetes, heart disease, and stroke, among others, lends credence to the vegan movement.
Challenges in the Vegan Food Market
The exorbitant price of vegan food items and the deficiencies they cause will hinder market expansion.
Several manufacturers develop and launch plant-based alternatives in the market, but the prices associated with such products are comparatively higher than animal-based food products. The taste and texture of plant-based food products vary significantly from animal-based products, making them less appealing. Hence, the vegan food market forecasts slow adoption among consumers.
Vegan type of food products are also associated with certain nutrient deficiencies. In some instances, low protein content in vegan diet causes people to suffer from health disorders such as anemia, hormonal disbalance, Vitamin B12 deficiencies, and others. Customers should thus seek guidance from medical experts who can offer a vegan food pyramid-based plan and guarantee that they eat a healthy, balanced diet.
Higher production costs
The sourcing of specialty ingredients, including plant-based proteins and alternative dairy, which can be more costly than conventional animal-based goods, is the reason for higher production costs in the vegan food sector. Furthermore, the technology needed to produce enticing flavors and textures frequently requires a large financial outlay. greater retail pricing may result from these greater expenses, which would limit certain consumers' access to vegan products and impede their wider adoption.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 120 |
| Forecast Period | 2024 - 2033 |
| Estimated Market Value (USD) in 2024 | $20.06 Billion |
| Forecasted Market Value (USD) by 2033 | $46.09 Billion |
| Compound Annual Growth Rate | 9.6% |
| Regions Covered | Global |
Company Analysis: Overview, Key Personnel, Recent Development & Strategies, Product Portfolio, Financial Insights
- Beyond Meat Inc.
- Danone S.A
- The Archer Daniels Midland Company
- Tofutti Brands Inc.
- Vitasoy Australia Products Pty Ltd.
- SunOpta
- Daiya Foods, Inc.
Key Topics Covered:
1. Introduction
2. Research & Methodology
3. Executive Summary
4. Market Dynamics
4.1 Growth Drivers
4.2 Challenges
5. Global Vegan Market
6. Market Share Analysis
6.1 Product
6.2 Source
6.3 Distribution Channel
6.4 Country
7. Product
7.1 Dairy Alternatives
7.2 Meat Substitutes
7.3 Others
8. Source
8.1 Almond
8.2 Soy
8.3 Oats
8.4 Wheat
8.5 Others
9. Distribution Channel
9.1 Supermarkets and Hypermarkets
9.2 Convenience Stores
9.3 Specialty Stores
9.4 Online Stores
9.5 Others
10. Country
10.1 North America
10.1.1 United States
10.1.2 Canada
10.2 Europe
10.2.1 France
10.2.2 Germany
10.2.3 Italy
10.2.4 Spain
10.2.5 United Kingdom
10.2.6 Belgium
10.2.7 Netherlands
10.2.8 Turkey
10.3 Asia Pacific
10.3.1 China
10.3.2 Japan
10.3.3 India
10.3.4 Australia
10.3.5 South Korea
10.3.6 Thailand
10.3.7 Malaysia
10.3.8 Indonesia
10.3.9 New Zealand
10.4 Latin America
10.4.1 Brazil
10.4.2 Mexico
10.4.3 Argentina
10.5 Middle East & Africa
10.5.1 South Africa
10.5.2 Saudi Arabia
10.5.3 UAE
11. Porter's Five Analysis
11.1 Bargaining Power of Buyers
11.2 Bargaining Power of Suppliers
11.3 Degree of Rivalry
11.4 Threat of New Entrants
11.5 Threat of Substitutes
12. SWOT Analysis
12.1 Strength
12.2 Weakness
12.3 Opportunity
12.4 Threat
13. Company Analysis
For more information about this report visit https://www.researchandmarkets.com/r/oaxg3f
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250325139150/en/
Contacts
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./ CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
