The Infinium Global Research analyzes the Packaged Vegan Food Market over the period of 2019 to 2025. This report also provides detailed qualitative and quantitative analyses of the market dynamics, market size and future trends in global packaged vegan food market. It will help a lot of decision makers to develop strategies and find new opportunities in the global markets of packaged vegan food. The report covers market changing aspects including drivers, restraints, opportunities, and trends expected to encouragement the expansion of the packaged vegan food market during the period.
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Packaged Vegan Food Market: Insights
The continuously growing population of vegans is the major factor driving the growth of the packaged vegan food market. The vegan population in the U.S. grew from 1% to 6% between 2014 and 2017, a 600% increase and the vegan population will continue to rise exponentially as more people are exposed to ethical, environmental and health concerns. According to the U.S. Grocery Shopper Trends report, 33% of households have at least one member voluntarily following a vegan, vegetarian, pescatarian or flexitarian diet. Furthermore, the growing health concerns and the onset of lifestyle diseases have increased the willingness among consumers to switch to a vegan lifestyle from meat-based diets as a plant-based vegan diet reduces the risk of type 2 diabetes, cardiovascular disease, ischemic heart disease, hypertension, stroke, and obesity. Moreover, the growing number of flexitarian consumers among the Gen Z and Millennial generation and the busy lifestyle of these consumers will also, create huge demand for packaged vegan products that mimic the taste and texture of animal-based products.
Additionally, the current concerns over the spread of coronavirus is also expected to have a positive impact on the sales of vegan food, particularly packaged vegan food in the long term. The outbreak of such animal origin diseases will impact the eating habits of the consumers, particularly in China, who are among the largest consumers of animal-based products. As the awareness about the health effects of consumption of slaughtered animals’ increase, a large number of people are expected to shift towards a vegan or a flexitarian diet opting for plant-based alternatives for meat, which in turn will fuel the growth of the packaged vegan food market over the coming years. Studies also suggest that the current outbreak of Coronavirus has sparked the interest of Chinese consumers in vegan food such as vegan eggs and meat alternatives, which will prove highly beneficial and create immense opportunities for the established as well as the emerging players in the packaged vegan food market in the future.
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North America Region is Expected to Hold the Largest Share in the Global Packaged Vegan Food Market
Among the geographies, North America region is expected to hold the largest share in the global packaged vegan food market as countries such as the U.S. and Canada are the front-runners of the vegan movement. Further, factors such as switch towards a healthy lifestyle and rising internet and smartphone penetration have accelerated the growth of the vegan population in the North American region. Moreover, the presence of a large number of vegan food manufacturers in the U.S. such as Amy’s Kitchen, Impossible Foods Inc. is also contributing to the growth of the packaged vegan food products in the North America region. European countries are also among the leading consumers of packaged vegan food products. The UK was the most popular country for veganism in 2019. Additionally, 11,655 vegan food and drink businesses were launched in Europe in 2019, an increase of 93% from 6,041, in 2016, according to the Vegan Society. Furthermore, the growing trend of veganism in Southeast Asia, China, Australia, and New Zealand are expected to increase the demand for packaged vegan food considerably over the forecast period.
Packaged Vegan Food Market: Segmentation
The report on global packaged vegan food market covers segments such as type, and distribution channel. On the basis of type, the sub-markets include vegan dairy alternatives, packaged vegan meals, meat alternatives, vegan bakery, and confectionery product. On the basis of distribution channel, the sub-markets include convenience stores, specialty stores, modern trade, and online trade.
Packaged Vegan Food Market: Competitive Landscape
The report provides profiles of the companies in the market such as Amy’s Kitchen, Beyond Meat, Garden Protein International Inc. (Gardein), Maple Leaf Foods Inc., WhiteWave Foods, Annie's Homegrown, Tofutti Brands, Plamil Foods Ltd, Dr. McDougall's Right Foods, and Other Companies.
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Reasons to Buy this Report:
=> Comprehensive analysis of global as well as regional markets of the packaged vegan food.
=> Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2025.
=> Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.
