REPORT: Global Vegan Food Market Will Hit The Value $31.4 billion By 2026
Increase in incidence of such health disorders, rise in number of health-conscious consumers, increase in disposable income of target customers have been some of the key factors driving the trend of veganism.
JESSICA HAMELBURG: ‘According to a new report published by Allied Market Research titled, ”Vegan Food Market by Product Type and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2019-2026,” the Vegan Food market size was valued at $14.2 billion in 2018 and is expected to reach $31.4 billion by 2026, registering a CAGR of 10.5% from 2019 to 2026.
Vegan food market analysis is done by product type and distribution channel. Veganism has been one of the mainstream trends in the food & beverages industry. Increase in incidence of such health disorders, rise in number of health-conscious consumers, increase in disposable income of target customers have been some of the key factors driving the trend of veganism in key regions specifically North America and Europe. This has increased the demand for different types of plant-based food products such as dairy alternatives and meat substitutes…
Millennials, population aged between 20 and 35 years, are health-conscious, broad minded, and actively involved in various physical activities. They have been influential in evolving various global industries in terms of product offerings and services. Thus, they are also anticipated to trigger demand for vegan food products during the vegan food market forecast…
Key players operating in vegan food industry include Sun Opta Inc., Whitewave Foods Company Inc., Hain Celestial Group Inc., Bhlue Diamond Growers, Archer Daniel Midland Company, Organic Valley Corporative, Panos Brand LLC., Pascual Group, Earth’s Own Food Company Inc., Earth’s Own Food Company Inc., Living Harvest Food Inc. and others’. SOURCE…
RELATED VIDEO: