Dublin, December 01, 2021 (GLOBE NEWSWIRE) – 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 decade and beyond, including the market’s response to the challenge of the global pandemic.
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Where is the biggest and most dynamic market for vegans? How does the market relate to the overall economy, demographics, and other similar markets? What forces will shape the market in the future? The global vegan market report answers all of these questions and more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market share, trends and strategies for this market. It traces the historical and forecast growth of the market by geography. It places the market in the context of the larger vegan market and compares it to other markets.
- The Market Characteristics section of the report defines and explains the market.
- The Market Size section gives the market size (Billion USD) covering both historical market growth, impact of COVID-19 virus, and forecast of its recovery.
- Market segmentations break down the market into submarkets.
- The regional and country breakdowns section gives an analysis of the market within each geography and market size by geography and compares their historical and forecast growth. It covers the impact and recovery trajectory of COVID-19 for all regions, major developed countries and major emerging markets.
- The competitive landscape gives a description of the competitive nature of the market, market shares and a description of the major companies. The main financial transactions that have shaped the market in recent years are identified.
- The Trends and Strategies section highlights likely future market developments and suggests approaches companies can take to exploit this.
- The vegan market section of the report provides some background. It compares the vegan market with other vegan market segments by size and growth, history and forecast. It analyzes the proportion of GDP, expenditure per capita, comparison of vegan indicators.
The main players in the vegan market are Amy’s Kitchen, Vitasoy International Holdings Ltd., Beyond Meat, Tofutti Brands, Plamil Foods Ltd., Danone SA, Vbites Foods Ltd., Eden Foods Inc., Whitewave Foods Company Inc. and Sun Opta Inc.
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%.
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 been investing 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 fats, 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. According to the United States Environmental Protection Agency, in 2018, the total gross greenhouse gas emissions of the United States were 6,676.6 million metric tons of carbon dioxide equivalent (MMT CO2 Eq). Thus, an increase in the concern for the environment among the population stimulates the growth of the vegan market.
In December 2018, Unilever, an Anglo-Dutch transnational consumer goods company headquartered in London, acquired The Vegetarian Butcher for an undisclosed amount. The acquisition is part of Unilever’s strategy to expand its portfolio to include plant-based foods that are healthier and have lower environmental impact. The Vegetarian Butcher is a food and drink company that works in the production of plant-based meat and is headquartered in the Netherlands.
Main topics covered:
2. Characteristics of the vegan market
3. Vegan market trends and strategies
4. Impact of COVID-19 on vegans
5. Size and growth of the vegan market
5.1. Historic global vegan market, 2015-2020, billion dollars
5.1.1. Market drivers
5.1.2. Market restrictions
5.2. Global Vegan Forecast Market, 2020-2025F, 2030F, Billion USD
5.2.1. Market drivers
5.2.2. Market constraints
6. Segmentation of the vegan market
6.1. Global Vegan Market, Product Substitute Segmentation, History and Forecast, 2015-2020, 2020-2025F, 2030F, in USD Billion
- Alternative to dairy products
- Meat substitute
6.2. Global vegan market, segmentation by distribution channel, history and forecast, 2015-2020, 2020-2025F, 2030F, in billions of dollars
6.3. Global vegan market, segmentation by source, history and forecast, 2015-2020, 2020-2025F, 2030F, billion dollars
7. Regional and national analysis of the vegan market
7.1. Global vegan market, divided by region, historical and forecast, 2015-2020, 2020-2025F, 2030F, in billions of dollars
7.2. Global vegan market, divided by country, historical and forecast, 2015-2020, 2020-2025F, 2030F, in billions of dollars
For more information on this report, visit https://www.researchandmarkets.com/r/3v7xl0