Packaged Vegan Food To Be Propelled By 2028 On Account Of Growing Health Awareness Among People And Adoption Of Vegan Lifestyle

Research Nester released a report titled “Packaged Vegan Food Market: Global Demand Analysis & Opportunity Outlook 2028” which delivers detailed overview of the global packaged vegan food market in terms of market segmentation by product, distribution channel, mode of distribution and by region.

Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.

Packaged vegan food is a type of food which is deprived of all animal products and thus considered healthier. Owing to the rising health awareness and growing concern over animal exploitation as well as diverging of huge population shifting towards vegan diet, the packaged vegan food market is anticipated to record a significant CAGR over the forecast period, i.e., 2020-2028. The market is segmented by product into dairy, meat, bakery and confectionery, and others. On the basis of product, the segment for dairy is anticipated to hold the leading share in the packaged vegan food market. This can be attributed to increasing number of customers purchasing dairy products as well as growing demand for more nutritional and innovated vegan dairy alternatives.

Based on the regional analysis, the packaged vegan food market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in North America is predicted to hold the largest share on account of rising consumer preference for healthy and nutritional food and increasing concern over animal exploitation and its adverse impact on the environment, as well as for the presence of leading market players in the region.

Growing Health Consciousness Among People To Boost The Market Growth

Daily consumption of 50 grams of processed meat increased the risk of colorectal cancer by 18%, as per the International Agency for Research on Cancer (IARC), a WHO agency.

Increased awareness of various health benefits offered by plant-based food products has resulted in extensive use of environmentally friendly and organic products. Further, owing to provision of several nutrients and enhancing protective enzymes in the body influenced many people to adopt vegan lifestyle which has led to high demand of packaged vegan food. Additionally, curbing meat consumption and increasing concern towards animal welfare is anticipated to increase the market growth over the forecast period. However, limited regulations on labelling of packaged vegan food coupled with its preservation restraints is estimated to hamper the market growth.

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This report also provides the existing competitive scenario of some of the key players of the global packaged vegan food market which includes company profiling of Amy's Kitchen, Inc., Danone S.A., Plamil Foods, The White Wave Foods Company, Beyond Meat(NASDAQ:BYND), Tofutti Brands, Inc., Dr.Mc Dougall's Right Foods, Vegan Made Delights, Edward & Sons Trading Co. and Galaxy Nutritional Foods, Inc.

The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global packaged vegan foodmarket that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.