Global Packaged Vegan Foods Market Overview:
Consumers who are trying to reduce their consumption of dairy products derived from animals have started favoring packaged vegan food. Vegan packaged food has reduced fat and cholesterol because it is made without any animal-based ingredients. Because of love and compassion for animals and the environment, more people are becoming vegans nowadays. The health advantages that vegan packaged food provides, such as its ability to prevent conditions like diabetes and heart attacks, are one of its main selling points. Since the vegan diet excludes all animal products, it is thought to be healthier and is therefore preferred over meat.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Forecast Period | 2022-2027 |
Historical Period | 2017-2021 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
The rise in Consumption of Plant-Based Foods Owing To Potential Health Benefits, An increasing number of fitness-conscious western society and Rising Demand for Meat Substitutes and Alternatives dairy Products
Market Growth Drivers:
Growing Focus on Reducing Intake of Animal-Based Dairy Products and Growing Concern toward Animal Welfare and Cruelty
Challenges:
Lack of Definitive Regulations Associated With Vegan Food Labelling, Perception regarding the taste of plant-based meat products and Genetically modified (GM) soybeans
Restraints:
Availability of Substitutes and High Price of Vegan Food Products and their Associated Deficiencies
Opportunities:
Favorable Marketing and Correct Positioning Of Packaged Vegan Foods and Increase in Consumers’ Focus on Meat Alternatives
Competitive Landscape:
Global Packaged Vegan Foods is a fragmented market due to the presence of various players. The players are focusing on strategic activities like partnerships, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge.
Some of the key players profiled in the report are Danone S.A. (France), Conagra, Inc. (United States), The Hain Celestial Group, Inc. (United States), Axiom Foods, Inc, (United States), DAIYA FOODS INC. (Canada), Alpro (Belgium), Kellogg Company (United States), Amys Kitchen (United States), Impossible Foods Inc. (United States), Beyond Meat (United States), Archer Daniels Midland Company (United States) and Tofutti Brands, Inc. (United States). Considering Market by Storage, the sub-segment i.e. Frozen will boost the Packaged Vegan Foods market. Considering Market by Distribution Channels, the sub-segment i.e. Hypermarket/Supermarket will boost the Packaged Vegan Foods market. Considering Market by Product, the sub-segment i.e. Burger Patties will boost the Packaged Vegan Foods market. Considering Market by Source, the sub-segment i.e. Soy will boost the Packaged Vegan Foods market.
Latest Market Insights:
In February 2021. Danone acquired plant-based pioneer Follow Your Heart. The transaction was a share purchase agreement, in which the French dairy giant bought 100% of the shares of Earth Island
In May 2021, US Retail Corporation Target launched a new sub-brand named Good & Gather Plant-Based brand. The company aims to launch 30 new plant-based products in the market under this brand.
What Can be Explored with the Packaged Vegan Foods Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Packaged Vegan Foods Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Packaged Vegan Foods
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Packaged Vegan Foods market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Packaged Vegan Foods market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Packaged Vegan Foods Providers, Distribution Channels, Regulatory Bodies, Potential Investors, Research and Development Institutes and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.