According to the latest report by IMARC Group, titled “Vegan Food Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025”, the global vegan food market to reached strong growth in 2019. Vegan food refers to products that are derived exclusively from plant-based sources and serve as an alternative to animal-origin products. They form a primary source of nutrition and calories for populations that consume a vegan diet. Some of the common vegan foods include plant-based substitutes for dairy and meat products, which are made from a variety of ingredients, including oats, coconuts, and almonds, among others. They also include vegan variants of foods produced using animal-based ingredients, such as mayonnaise, salad dressings, and bakery products.

Some of the top Vegan Food Competitor being Beyond Meat, Daiya, Danone Sponsored ADR common, Amy's Kitchen, Eden Foods, Plamil Foods, The Archer Daniels Midland Company, Tofutti Brands, VBites Foods Limited , Vitasoy, etc.

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One of the primary factors driving the demand for vegan foods is the rapidly rising number of individuals who are shifting toward vegan and vegetarian diets. This trend can be attributed to several factors, including associated health benefits of these diets, environmental consciousness, and animal welfare. As a result, the leading food and beverage companies are expanding their portfolio of plant-based products. They are also introducing fortified and functional products to attract new consumers. The improving retail channels, particularly in the developing regions, and the easy availability of these products are some of the factors that are expected to augment the market growth. Looking forward, IMARC Group expects the market to register a CAGR of around 8% during 2020-2025.

Market Breakup by Source:

Almond
Soy
Oats
Wheat
Others

Market Breakup by Product:

Dairy Alternatives
Cheese
Dessert
Snacks
Others
Meat Substitutes
Tofu
TVP
Seiten
Quorn
Others
Others

Market Breakup by Distribution Channel:

Supermarkets and Hypermarkets
Convenience Stores
Specialty Stores
Online Stores
Others

Competitive Landscape Key Player:

Meat
Daiya
Danone Sponsored ADR common stock
Amy's Kitchen
Eden Foods Inc.
Plamil Foods Ltd.
The Archer Daniels Midland Company
Tofutti Brands Inc
VBites Foods Limited
Vitasoy

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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

If you want to need latest primary and secondary data (2020-2025) with Cost Module, Business Strategy, Distribution Channel, etc.. Click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours of receiving full payment.

Source: steemit

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