According to a new report titled the Vegan Food Global Market Report 2022, the vegan food market is expected to grow from $13.55 billion in 2021 to $14.45 billion by the end of 2022.
The report estimates that this will grow even further to $18.73 billion by 2026, at a compound annual growth rate (CAGR) of 6.7%.
“The vegan market consists of the sale of vegan products and related services for consumption purposes”, states the report. “Vegan products include food and beverages produced without the use of animal ingredients or animal-derived ingredients. Vegan food products include fruits and vegetables, legumes such as peas, beans, plant protein-based tofu and plant protein-based meat.”
The report found that Asia Pacific was the largest region in the vegan food market in 2021. Western Europe was the second-largest region in the vegan food market. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The report states that the major players in the market are “Amy’s Kitchen, Vitasoy International Holdings Ltd., Beyond Meat, Tofutti Brands, Plamil Foods Ltd., Danone S.A., Vbites Foods Ltd., Eden Foods Inc., Whitewave Foods Company Inc, Sun Opta Inc.”
An increase in the concern about the environment among the population is driving the growth of the vegan market, states the report. “According to the United States Environmental Protection Agency, in 2018, total gross U.S. greenhouse gas emissions were 6,676.6 million metric tons of carbon dioxide equivalent (MMT CO2 Eq). Thus, an increase in the concern about the environment among the population is driving the growth of the vegan market.
For more information about this report visit https://www.researchandmarkets.com/r/sqdnpl
