Meticulous Research®, a premier global market research firm, has recently launched its comprehensive research report titled "Vegan Food Market by Type (Dairy Alternatives [Yogurt, Milk, Ice Cream, Cheese, Butter], Meat Substitutes [Tofu, Sausages, Ground Meat, Meatballs, Nuggets]); Distribution Channel (Business-to-Business, Business-to-Consumer) - Global Forecast to 2031."
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According to this latest publication from Meticulous Research®, the vegan food market is poised to achieve a remarkable milestone, with a projected value of $116.33 billion by 2031, demonstrating a robust Compound Annual Growth Rate (CAGR) of 11.7% from 2024 to 2031. This forecast underscores the market's significant growth potential, fueled by various factors driving the adoption of vegan diets and products worldwide.
Key Insights:
The growth of the vegan food market is primarily propelled by:
• Increasing vegan population
• Surge in research and development activities and investments
• Rising demand for protein-rich vegan products
• Growing intolerance for animal proteins
However, the comparatively higher cost of vegan products is anticipated to pose a challenge to market expansion.
Leading Players:
The report features an in-depth competitive landscape analysis, highlighting key strategic developments of major market players. Some of the key players operating in the vegan food market include:
• The Archer Daniels Midland Company (U.S.)
• Hain Celestial Group, Inc. (U.S.)
• SunOpta, Inc. (Canada)
• Danone S.A. (France)
• Conagra Brands, Inc. (U.S.)
• Axiom Foods, Inc. (U.S.)
• Daiya Foods Inc. (Canada)
• Kellogg Company (U.S.)
• Beyond Meat, Inc. (U.S.)
• Impossible Foods, Inc. (U.S.)
• Tofutti Brands, Inc. (U.S.)
• Amy's Kitchen, Inc. (U.S.)
• Taifun-Tofu GmbH (Germany)
• Atlantic Natural Foods, LLC (Part of Aft Holdings, Inc.) (U.S.)
• VBites Food, Ltd. (U.K.)
• Nutrisoy Pty, Ltd. (Australia)
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Market Segmentation:
The vegan food market is segmented based on type and distribution channel, offering a comprehensive understanding of industry dynamics at both global and regional levels.
Regional Analysis:
North America is expected to lead the vegan food market in 2024, driven by factors such as increasing awareness of sustainable and environmentally friendly food practices, technological advancements, a growing vegan population, and the presence of major market players in the region.
Key Questions Addressed:
The report addresses crucial questions such as:
• Current revenue generated by the global vegan food market
• Projected growth rate for the next 5–7 years
• Historical market sizes and growth rates
• Major factors influencing market growth
• Key opportunities for existing players and new entrants
• Segment-wise traction for companies
• Geographical trends and growth opportunities
• Major players and their product offerings
• Recent strategic developments and their impacts

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Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
The name of our company defines our services, strengths, and values. Since the inception, we have only thrived to research, analyze, and present the critical market data with great attention to details. With the meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. We design our meticulously analyzed intelligent and value-driven syndicate market research reports, custom studies, quick turnaround research, and consulting solutions to address business challenges of sustainable growth.

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