Market Size of Packed Vegan Foods Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 9.74 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Packaged Vegan Foods Market Analysis
The global packaged vegan foods market is projected to grow at a CAGR of 9.74% during the forecast period.
- With the introduction of the vegan concept and its continuous rising demand, owing to the associated health benefits,the processed foodmarket is witnessing an instream flow of numerous plant-based products across all the segments.
- Theretained freshness over aprolonged consumption period backed by the nutritional and health benefits makepackaged vegan food, a consumer preference.
- However, the packaged vegan food market faces a major challenge due tothe lack of definitive regulations associated with vegan food labelling.
Packaged Vegan Foods Industry Segmentation
The global packaged vegan foods market is segregated by product type into dairy alternatives,meat alternatives & packaged vegan meals, vegan bakery & confectionery products, and others.Based on theDistribution Channel, the market is segmented bysupermarket/ hypermarkets, convenience stores, online stores, and others. Also, the market hasbeen diversely classified bygeography.
| By Product Type | |
| Dairy alternatives | |
| Meat alternatives & packaged vegan meals | |
| Vegan bakery & confectionery products | |
| Others |
| By Distribution Channel | |
| Supermarket/ Hypermarkets | |
| Convenience Stores | |
| Online Stores | |
| Others |
| Geography | |||||||||
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Packed Vegan Foods Market Size Summary
The packaged vegan food market is experiencing significant growth, driven by the increasing consumer demand for plant-based products due to their health benefits and prolonged freshness. This trend is part of a broader shift in the processed food market, where vegan options are becoming more prevalent across various segments. The convenience and nutritional advantages of packaged vegan foods are making them a preferred choice for consumers, particularly as awareness of the health risks associated with meat consumption rises. However, the market faces challenges, particularly in the form of unclear regulations regarding vegan food labeling, which could impact consumer trust and market expansion.
Major companies in the food industry, such as Kellogg’s, Conagra Brands Inc., and The Campbell Soup Company, are recognizing the potential of the meat substitute market and are actively acquiring smaller companies to strengthen their positions in this growing sector. The North American market, in particular, is seeing a surge in demand for vegan products, fueled by increased awareness of animal cruelty and health concerns related to meat consumption. This has led to intense competition among key players like Amy's Kitchen Inc., Beyond Meat, and Danone S.A., who are striving to capture significant market shares in the packaged vegan foods sector. The convenience of packaged vegan foods is especially appealing to busy professionals, further driving market growth.
Packed Vegan Foods Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.2 Market Restraints
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1.3 Porter's Five Forces Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 By Product Type
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2.1.1 Dairy alternatives
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2.1.2 Meat alternatives & packaged vegan meals
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2.1.3 Vegan bakery & confectionery products
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2.1.4 Others
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2.2 By Distribution Channel
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2.2.1 Supermarket/ Hypermarkets
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2.2.2 Convenience Stores
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2.2.3 Online Stores
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2.2.4 Others
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2.3 Geography
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.1.3 Mexico
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2.3.1.4 Rest of North America
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2.3.2 Europe
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2.3.2.1 Spain
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2.3.2.2 United Kingdom
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2.3.2.3 Germany
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2.3.2.4 France
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2.3.2.5 Italy
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2.3.2.6 Russia
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2.3.2.7 Rest of Europe
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2.3.3 Asia Pacific
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2.3.3.1 China
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2.3.3.2 Japan
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2.3.3.3 India
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2.3.3.4 Australia
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2.3.3.5 Rest of Asia-Pacific
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2.3.4 South America
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2.3.4.1 Brazil
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2.3.4.2 Argentina
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2.3.4.3 Rest of South America
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2.3.5 Middle East and Africa
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2.3.5.1 South Africa
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2.3.5.2 Saudi Arabia
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2.3.5.3 Rest of Middle East and Africa
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Packed Vegan Foods Market Size FAQs
What is the current Packed Vegan Foods Market size?
The Packed Vegan Foods Market is projected to register a CAGR of 9.74% during the forecast period (2024-2029)
Who are the key players in Packed Vegan Foods Market?
Amy's Kitchen, Inc., Tofutti Brands, Inc., Annie's Homegrown, Inc., Beyond Meat and Danone S.A. are the major companies operating in the Packed Vegan Foods Market.
