Vegan Food Market Size, Share, Forecast, & Trends Analysis by Type (Dairy Alternatives, Meat Substitutes, Bakery Product), Distribution Channel (B2B, B2C )

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Vegan Foods Market Size, Share, Forecast, & Trends Analysis by Type (Dairy Alternatives {Yogurt, Milk, Ice Cream, Cheese, Butter}, Meat Substitutes {Tofu, Nuggets}, Bakery Product), Distribution Channel (B2B, B2C {Convenience Store})-Global Forecast to 2031

According to the research report titled, 'Vegan Foods Market Size, Share, Forecast, & Trends Analysis by Type (Dairy Alternatives {Yogurt, Milk, Ice Cream, Cheese, Butter}, Meat Substitutes {Tofu, Nuggets}, Bakery Product), Distribution Channel (B2B, B2C {Convenience Store})-Global Forecast to 2031,' the vegan food market is projected to reach $109.4 billion by 2031, at a CAGR of 12.4% during the forecast period 2024-2031. The report provides an in-depth analysis of the global vegan food market across five major regions, emphasizing the current market trends, market sizes, recent developments, and forecasts till 2031.

Succeeding extensive secondary and primary research and an in-depth analysis of the market scenario, the report conducts the impact analysis of the key industry drivers, restraints, opportunities, and trends. The growth of this market is attributed to the growing vegan population, lowering adoption of animal-based proteins, increasing R&D activities, investments and innovation in food technology, and growing demand for protein-rich products. Additionally, the growing adoption of vegan food in emerging economies and rising demand for alternative proteins. However, a continued preference for animal-based products and consumer preference for soy and gluten-free products restrain the vegan foods market growth.

The key players operating in the vegan foods market are 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).

Based on type, the vegan foods market is segmented into dairy alternatives, meat substitutes, ready-to-eat meals, bakery products, confectionery, protein bars & snacks, and other vegan foods. In 2024, the dairy alternatives segment is expected to account for the largest share of the vegan foods market. This segment's large market share is attributed to the rising cases of lactose intolerance, increasing investments in dairy alternatives, the nutritional benefits provided by plant-based dairy products, growing consumer preference for vegan diets, and the expanding vegan and vegetarian population.

Based on distribution channel, the vegan foods market is segmented into business-to-business (B2B) and business-to-consumer (B2C). In 2024, the business-to-consumer segment is expected to account for the larger share of the vegan food market. This segment's large market share is attributed to consumers' preference for shopping at brick-and-mortar stores, rapid growth in vegan food sales at established supermarkets and hypermarket chains, disposable income, increasing urbanization, and the growing consumer preference for vegan food products.

An in-depth geographic analysis of the industry provides detailed qualitative and quantitative insights into the five major regions-North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa-and the coverage of major countries in each region. Asia-Pacific is expected to account for the largest share of the vegan food market in 2024. Asia-Pacific's major market share is attributed to the growing awareness of the benefits of a plant-based diet, increased consumer concerns about the health risks associated with contaminated meat, higher investments in the vegan food sector, rising health & wellness trends, and substantial demand for a diverse range of food products from a large population base. Moreover, this region is poised to register the highest CAGR during the forecast period.

Key Questions Answered in the Report:

What is the current revenue generated by the vegan foods market globally?
At what rate is the global vegan food demand projected to grow for the next 5-7 years?
What are the historical market sizes and growth rates of the vegan foods market?
What are the major factors impacting the growth of this market at the regional and country levels? What are the major opportunities for existing players and new entrants in the market?
Which segments, in terms of type and distribution channel, are expected to create traction for the manufacturers in this market during the forecast period 2024-2031?
What are the key geographical trends in this market? Which regions/countries are expected to offer significant growth opportunities for the manufacturers operating in the vegan foods market?
Who are the major players in the vegan foods market? What are their specific product offerings in this market?
What are the recent strategic developments in the vegan foods market? What are the impacts of these strategic developments on the market?

Scope of the Report:

Vegan Foods Market Assessment-by Type

Dairy Alternatives
- Yogurt
- Milk
- Ice Cream
- Cheese
- Butter
- Other Dairy Alternatives
Meat Substitutes
- Tofu
- Sausages
- Ground Meat
- Meatballs
- Nuggets
- Other Meat Substitutes
Ready-to-eat Meals
Bakery Products
Confectionery
Protein Bars & Snacks
Other Vegan Foods

Vegan Foods Market Assessment-by Distribution Channel

Business-to-Business (B2B)
Business-to-Consumer (B2C)
- Modern Groceries (Supermarkets & Hypermarkets)
- Convenience Stores
- Online Retail
- Specialty Stores
- Other B2C Distribution Channels

Vegan Foods Market Assessment-by Geography

North America
- U.S.
- Canada
Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Netherlands
- Belgium
- Austria
- Poland
- Portugal
- Rest of Europe (RoE)
Asia-Pacific
- China
- India
- Japan
- Australia
- South Korea
- Thailand
- Rest of Asia-Pacific (RoAPAC)
Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America (RoLATAM)
Middle East & Africa

Product Code: MRFB - 1041105

1. Introduction

1.1. Market Definition & Scope
1.2. Market Ecosystem
1.3. Currency
1.4. Key Stakeholders

2. Research Methodology

2.1. Research Approach
2.2. Process of Data Collection & Validation
- 2.2.1. Secondary Research
- 2.2.2. Primary Research/Interviews with Key Opinion Leaders from the Industry
2.3. Market Sizing and Forecast
- 2.3.1. Market Size Estimation Approach
  - 2.3.1.1. Bottom-up Approach
  - 2.3.1.2. Top-down Approach
- 2.3.2. Growth Forecast Approach
2.4. Assumptions for the Study

3. Executive Summary

3.1. Overview
3.2. Segmental Analysis
- 3.2.1. Vegan Food Market Assessment, by Product Type
- 3.2.2. Vegan Food Market Assessment by Distribution Channel
3.3. Vegan Food Market Regional Analysis
3.4. Competitive Landscape & Market Competitors

4. Market Insights

4.1. Overview
4.2. Drivers
- 4.2.1. Growing Vegan Population
- 4.2.2. Increasing Intolerance for Animal Proteins
- 4.2.3. Increasing R&D Activities, Investments, and Innovation in Food Technology
- 4.2.4. Growing Demand for Protein-rich Products
4.3. Restraints
- 4.3.1. Significant Preference for Animal-based Products
- 4.3.2. Consumer Preference for Soy and Gluten-free Products
4.4. Opportunities
- 4.4.1. Growing adoption of Vegan Food in Emerging Economies
- 4.4.2. Rising Demand for Alternative Proteins
4.5. Challenges
- 4.5.1. Comparatively High Price of Vegan Food
4.6. Key Trends
- 4.6.1. Growth in Mergers & Acquisitions in the Vegan Food Space
4.7. Pricing Analysis
4.8. Value Chain Analysis
4.9. Porter's Five Forces Analysis
- 4.9.1. Bargaining Power of Suppliers
- 4.9.2. Bargaining Power of Buyers
- 4.9.3. Threat of Substitutes
- 4.9.4. Threat of New Entrants
- 4.9.5. Degree of Competition

5. Vegan Food Market Assessment-by Type

5.1. Overview
5.2. Dairy Alternatives
- 5.2.1. Yogurt
- 5.2.2. Milk
- 5.2.3. Ice-cream
- 5.2.4. Cheese
- 5.2.5. Butter
- 5.2.6. Other Dairy Alternatives
5.3. Meat Substitutes
- 5.3.1. Tofu
- 5.3.2. Sausages
- 5.3.3. Ground Meat
- 5.3.4. Meatballs
- 5.3.5. Nuggets
- 5.3.6. Other Meat Substitutes
5.4. Ready-to-eat Meals
5.5. Bakery Products
5.6. Confectionery
5.7. Protein Bars & Snacks
5.8. Other Vegan Foods

6. Vegan Food Market Assessment-by Distribution Channel

6.1. Overview
6.2. Business-To-business (B2B)
6.3. Business-To-consumer (B2C)
- 6.3.1. Modern Groceries (Supermarkets & Hypermarkets)
- 6.3.2. Convenience Stores
- 6.3.3. Online Retail
- 6.3.4. Specialty Stores
- 6.3.5. Other B2C Distribution Channels

7. Vegan Food Market Assessment-by Geography

7.1. Overview
7.2. North America
- 7.2.1. U.S.
- 7.2.2. Canada
7.3. Europe
- 7.3.1. Germany
- 7.3.2. France
- 7.3.3. U.K.
- 7.3.4. Italy
- 7.3.5. Spain
- 7.3.6. Netherlands
- 7.3.7. Belgium
- 7.3.8. Austria
- 7.3.9. Poland
- 7.3.10. Portugal
- 7.3.11. Rest of Europe (RoE)
7.4. Asia-Pacific
- 7.4.1. China
- 7.4.2. India
- 7.4.3. Japan
- 7.4.4. Australia
- 7.4.5. South Korea
- 7.4.6. Thailand
- 7.4.7. Rest of Asia-Pacific (RoAPAC)
7.5. Latin America
- 7.5.1. Brazil
- 7.5.2. Mexico
- 7.5.3. Argentina
- 7.5.4. Rest of Latin America (RoLATAM)
7.6. Middle East & Africa

8. Competition Analysis

8.1. Overview
8.2. Key Growth Strategies
8.3. Competitive Benchmarking
8.4. Competitive Dashboard
- 8.4.1. Industry Leaders
- 8.4.2. Market Differentiators
- 8.4.3. Vanguards
- 8.4.4. Emerging Companies
8.5. Market Share/Market Ranking Analysis, by Key Player, 2023

9. Company Profiles (Business Overview, Financial Overview, Product Portfolio, and Strategic Developments)

9.1. The Archer Daniels Midland Company
9.2. Hain Celestial Group, Inc.
9.3. SunOpta, Inc.
9.4. Danone S.A.
9.5. Conagra Brands, Inc.
9.6. Axiom Foods, Inc.
9.7. Daiya Foods Inc.
9.8. Kellogg Company
9.9. Beyond Meat, Inc.
9.10. Impossible Foods, Inc.
9.11. Tofutti Brands, Inc.
9.12. Amy's Kitchen, Inc.
9.13. Taifun-Tofu GmbH
9.14. Atlantic Natural Foods, LLC (Part of Aft Holdings, Inc.)
9.15. VBites Food, Ltd.
9.16. Nutrisoy Pty, Ltd.
9.17. Other Companies

(Note: SWOT Analysis of the Top 5 Companies Will Be Provided)

10. Appendix

10.1. Questionnaire
10.2. Available Customization