PACKAGED VEGAN FOODS MARKET - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Global Packaged Vegan Foods Market is segmented By Product Type (Dairy alternatives, Meat alternatives & packaged vegan meals, Vegan bakery & confectionery products, and Others), By Distribution Channel (Supermarket/ Hypermarkets, Convenience Stores, Online Stores, and Others), and By Geography.

Market Snapshot

Study Period: 2016 - 2026
Base Year: 2021
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: 9.74 %

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Market Overview

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 food market is witnessing an instream flow of numerous plant-based products across all the segments.
  • The retained freshness over a prolonged consumption period backed by the nutritional and health benefits make packaged vegan food, a consumer preference. 
  • However, the packaged vegan food market faces a major challenge due to the lack of definitive regulations associated with vegan food labelling.
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Scope of the Report

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 the Distribution Channel, the market is segmented by supermarket/ hypermarkets, convenience stores, online stores, and others. Also, the market has been diversely classified by geography.

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
North America
United States
Canada
Mexico
Rest of North America
Europe
Spain
United Kingdom
Germany
France
Italy
Russia
Rest of Europe
Asia Pacific
China
Japan
India
Australia
Rest of Asia-Pacific
South America
Brazil
Argentina
Rest of South America
Middle East and Africa
South Africa
Saudi Arabia
Rest of Middle East and Africa

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Key Market Trends

Plant-based Meat Substitutes are Gaining Significance

The cautiousness regarding the ill-effects of meat-based products on health is leading consumers in making a shift towards a safer diet. Considering the potential of the meat substitute market, tycoons like Kellogg’s, Conagra Brands Inc., and The Campbell Soup Company have invaded the market by acquiring small meat substitute companies. For instance, Campbell Soup Company acquired the Pacific Foods of Oregon LLC for USD 700 million in 2017, with expectations of strengthening Campbell’s health and well-being portfolio in the growing natural and organic category, thus promoting market growth.

Packaged Vegan Foods Market1

North America is the Market Leader for Packaged Vegan Foods

As per World Health Organization, people consuming an average of ¼-pound of red meat per day raise their risk of developing colon cancer by 17% during their lifetime, and unfortunately, this is just one of the ailments associated with consumption of meat. With the help of extensive awareness campaigns and publicity, the North American population has upgraded its knowledge regarding the cons of meat consumption. Also, the working-profile people have no time to spare on instant cooking and simultaneous consumption, be it vegetarian or meat. Packaged vegan foods emerged as a complete remedy. The convenience of easy handling and healthy food simultaneously was well appreciated. U.S. Department of Agriculture's statistics concludes that the U.S. cattle commercial slaughter and inventories in 2015 were 28.7 million head, which is the lowest rate it has been in more than a decade.

Packaged Vegan Foods Market2

Competitive Landscape

Increasing awareness against animal cruelty has led to a rise in the number of people following vegan habits in the North American region. Owing to this, the demand for Vegan products has gone up ranging throughout the application segments. Rivalry among leading market players like Amy's Kitchen Inc., Beyond Meat, Tofutti Brands, Annie's Homegrown, Inc. and Danone S.A. to capture the market is continuous and therefore, they are focusing on gaining significant market shares in specific realms of the packaged vegan foods market.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

    1. 3.1 Market Overview

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Porter's Five Forces Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Product Type

      1. 5.1.1 Dairy alternatives

      2. 5.1.2 Meat alternatives & packaged vegan meals

      3. 5.1.3 Vegan bakery & confectionery products

      4. 5.1.4 Others

    2. 5.2 By Distribution Channel

      1. 5.2.1 Supermarket/ Hypermarkets

      2. 5.2.2 Convenience Stores

      3. 5.2.3 Online Stores

      4. 5.2.4 Others

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

        3. 5.3.1.3 Mexico

        4. 5.3.1.4 Rest of North America

      2. 5.3.2 Europe

        1. 5.3.2.1 Spain

        2. 5.3.2.2 United Kingdom

        3. 5.3.2.3 Germany

        4. 5.3.2.4 France

        5. 5.3.2.5 Italy

        6. 5.3.2.6 Russia

        7. 5.3.2.7 Rest of Europe

      3. 5.3.3 Asia Pacific

        1. 5.3.3.1 China

        2. 5.3.3.2 Japan

        3. 5.3.3.3 India

        4. 5.3.3.4 Australia

        5. 5.3.3.5 Rest of Asia-Pacific

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle East and Africa

        1. 5.3.5.1 South Africa

        2. 5.3.5.2 Saudi Arabia

        3. 5.3.5.3 Rest of Middle East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Most Active Companies

    2. 6.2 Most Adopted Strategies

    3. 6.3 Market Share Analysis

    4. 6.4 Company Profiles

      1. 6.4.1 Amy's Kitchen, Inc.

      2. 6.4.2 Beyond Meat

      3. 6.4.3 Tofutti Brands, Inc.

      4. 6.4.4 Annie's Homegrown, Inc.

      5. 6.4.5 Danone S.A.

      6. 6.4.6 Barbara's

      7. 6.4.7 Follow Your Heart

      8. 6.4.8 Louisville Vegan Jerky Co.

      9. 6.4.9 Edward & Sons Trading Co.

      10. 6.4.10 Dr. McDougall's Right Foods

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability

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Frequently Asked Questions

The Packed Vegan Foods Market market is studied from 2016 - 2026.

The Packed Vegan Foods Market is growing at a CAGR of 9.74% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2021.

Amy's Kitchen, Inc., Tofutti Brands, Inc., Annie's Homegrown, Inc., Beyond Meat, Danone S.A. are the major companies operating in Packed Vegan Foods Market.

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