Global Vegan Food Market Report (2021 to 2030) – Featuring Beyond Meat, Tofutti Brands, and Eden Foods, among others – ResearchAndMarkets.com – vegconomist
DUBLIN– (BUSINESS WIRE) –The “Global Vegan Food Market Report 2021: Growth and Change of COVID-19 through 2030” the report was added to ResearchAndMarkets.com offer.
This report equips strategists, marketers, and senior management with the essential information they need to assess the global vegan market.
This report focuses on the fast growing vegan market. The report gives a guide to the vegan market that will shape and change our lives over the next ten years and beyond, including the market’s response to the challenge of the global pandemic.
The global vegan food market is expected to grow from $ 14.44 billion in 2020 to $ 15.77 billion in 2021 at a compound annual growth rate (CAGR) of 9.2%. The growth is mainly due to companies resuming operations and adjusting to the new normal while recovering from the impact of COVID-19, which previously led to restrictive containment measures involving social distancing, the remote work and closure of business activities which resulted in operational challenges. The market is expected to reach $ 22.27 billion in 2025 at a CAGR of 9%.
- Amy’s kitchen
- VITASOY International Holdings Ltd.
- Beyond the meat
- Tofutti brands
- Plamil Foods Ltd.
- Danone SA
- Vbites Foods Ltd.
- Eden Foods Inc.
- Whitewave Foods Company Inc
- Sun Opta inc.
- Pascal Group
- Bhlue Diamond Producers
- Archer Daniel Midland Company
- Earth’s Own Food Company Inc
- Panos Brand LLC.
- Blue diamond producers
- Céleste Hain Group Inc.
- Organic Corporate Vallet
- Living Harvest Food Inc.
- Morningstar Farms
- MGP Ingredients Inc.
- Sonic Biochem Extractions Limited
- The Nisshin Oillio group
- Schouten Europe
- Memphis meats
- Alpha Foods
- Corbion Biotech inc.
- Famleigh Inc.
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The vegan market consists of the sale of vegan products and related services for consumption. Vegan products include foods and beverages produced without the use of ingredients of animal origin or ingredients of animal origin. Vegan food items include fruits and vegetables, legumes like peas, beans, tofu made from vegetable protein, and meat made from vegetable protein.
One of the trends in the vegan market is the production of meat using cell technology. Cell-by-cell identical meat is produced in factories without killing animals. Cell-based meat production involves feeding animal cells with nutrients and proteins, thus eliminating the need for animal dependence for meat. Following the trend, in 2019, Memphis Meats, an American cell-based meat start-up, received investment from Cargill, a US-based food production company, for the production of vegan animal meat from cells. Since 2016, other major players such as Tyson Foods., A US-based chicken, beef and pork processor and distributor, have also invested in Memphis Meats to support cell-based meat production.
Vegan food products lack certain nutrients. Vegan products do not contain any ingredients of animal or animal origin. Vegan foods do not contain a sufficient amount of high quality protein and fat, vegan and vegetarian diets lack many very important minerals, such as calcium, iron and zinc. Vegans have a higher fracture risk than meat eaters, fish eaters, and vegetarians, according to a study published in 2020 by BMC Medicine. The strongest associations were seen for hip fractures, for which fish eaters, vegetarians, and vegans all had higher risks. This is due to insufficient calcium intake in a vegan diet. Hence, the lack of essential nutrient factor is impacting the growth of the vegan market.
An increase in the concern for the environment among the population is driving the growth of the vegan market. Raising and raising livestock like pigs, chickens, cows, goats on farms contributes to the greenhouse effect. Greenhouse gases are released by farming livestock like cows and the gases released prevent atmospheric heat from escaping, which increases the overall temperature. The demand for animal meat necessitates excessive animal husbandry. Thus, the increase in the number of consumers of vegan food, eliminates the demand for excessive breeding of animals, following a decrease in greenhouse gas emissions in the environment.
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