Vegan Food Market

Vegan Food Market by Product Type (Dairy Alternative, Meat Substitute, and Others), by Distribution Channel (Offline Channels, Online Channels), and by Region (North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa): Global Industry Analysis, Size, Share, Growth, Trends, Regional Analysis, and Forecast to 2030

Food & Beverages | June 2023 | Report ID: EMR0080 | Pages: 217

The global vegan food market in 2022 was valued at USD 24.59 billion and is predicted to reach roughly USD 63.8 billion in 2030, rising at a compound annual growth rate (CAGR) of 10.1% between 2023 and 2030.

Vegan food is a category of food that completely excludes animal products and their derivatives, including meat, dairy, eggs, honey, gelatin, etc. It primarily consists of plant-based ingredients and can be prepared using a variety of techniques. Meat alternatives are products that mimic the taste, flavour, and appearance of actual meat but are healthier than meat. These products are gaining popularity as substitutes for conventional meat and meat-based products. Furthermore, the worldwide surge in obesity rates and resulting health issues, such as heart disease, high blood pressure, diabetes, and asthma, have led to increased awareness of overall health among consumers. As a result, there has been a growing demand for various types of healthy food products, including vegan options. Veganism is a lifestyle choice driven by concerns such as animal welfare, health, and the environment that has gained momentum in recent years. By adopting a vegan diet, individuals can significantly reduce their contribution to animal agriculture and, in turn, minimize their carbon footprint.




Report Attribute


Estimated Market Value (2022)

24.59 Bn

Projected Market Value (2030)

63.8 Bn

Base Year


Forecast Years

2023 - 2030

Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- by Product Type, by Distribution Channel & By Region

Segments Covered

by Product Type, by Distribution Channel & By Region

Forecast Units

Value (USD Billion)

Quantitative Units

Revenue in USD billion and CAGR from 2023 to 2030

Regions Covered

North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World

Countries Covered

U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others

Report Coverage

Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.

Delivery Format

Delivered as an attached PDF and Excel through email, according to the purchase option.


Market Drivers

The increasing demand for animal-friendly products is a crucial factor propelling the vegan food industry. With an increasing awareness of the ethical issues concerning animal agriculture and animal welfare, consumers are increasingly seeking food products that are produced without harming animals. Consequently, there is currently a growing preference for vegan food options that are not only free from animal-derived ingredients but also manufactured in a way that avoids any cruelty to animals. Growing awareness regarding animal welfare and the impact of animal cruelty on the food industry has prompted consumers to switch to plant-based food products. Plant-based options offer several benefits, including a reduced risk of heart disease, stroke, and premature death. As demand for non-dairy and meat substitutes rises, the adoption of vegan diets is likely to increase. Consumers are also seeking nutritious alternatives. To expand their customer base and improve their brand image, market players are introducing innovative and unique food products.

According to the Vegan Society, there has been a significant surge in the demand for vegan food, which has grown by over 980% in the past ten years. The vegan food market is currently in the growth stage and is projected to experience stable expansion during the forecast period.


Market Restraints

Several manufacturers have developed and introduced plant-based substitutes; however, their prices are generally higher compared to animal-based products. Certain components used in vegan cuisine, such as tofu, tempeh, and seitan, can be more expensive than animal-derived ingredients. This is due to the fact that they are mostly produced from whole foods that require extensive processing. Furthermore, vegan products necessitate specialized equipment and ingredients.


Segment Analysis

The alternative dairy market is experiencing significant growth, primarily based on product type. This segment is expanding faster than meat substitutes and includes soy, oats, and other similar products. These dairy alternatives are ideal for individuals who want to lose weight or are lactose intolerant. The growing awareness of the health benefits of vegan products is expected to further drive market demand for this segment. Plant-based milk (such as almond, oat, or soy milk) and vegan cheese are among the prominent dairy alternatives available in the vegan food market. These products offer alternatives to conventional dairy products and cater to individuals with milk allergies or those who follow a vegan lifestyle.

The vegan food market is classified into offline and online categories based on the distribution channel. The online segment is expected to dominate the market. Major retail chains have invested significantly in online distribution channels. In addition, companies also directly sell their products to consumers through their own websites or social media platforms. Several multinational retail corporations have started delivering food online, making e-commerce portals a major channel for consumers to purchase these products. Due to the pandemic, the trend for online shopping has increased, as consumers are inclined to buy products from the comfort of their homes and have them delivered to their doorsteps.


Regional Analysis

The vegan food market in Europe is anticipated to maintain its leading position globally. Major food chains like Starbucks and Dominos have caught up with the trend and introduced new vegan options for their regional consumers. Countries such as the UK, Germany, and France have observed a decrease in per-capita meat consumption over the past few years. The most popular food and snack items in the region comprise canned mock meats, burgers, pizza, fillets, patties, sausages, ready meals, meat-free meatballs, and more. Consumers' growing environmental consciousness is one of the reasons for the rising popularity of veganism in the region. Vegan food companies are striving to enhance quality and lower prices by introducing new products and innovations.


The vegan food industry in Europe is experiencing a significant surge in growth. Despite the fact that countries like India have a substantial number of vegetarians, the adoption of a completely animal-free diet remains relatively low. However, the mounting consciousness among consumers has a pivotal impact and is driving the expansion of the vegan food market in the region.


Competitive Landscape

The vegan food industry is experiencing a rise in fragmentation as numerous small and medium-sized companies compete for market share. The competitive landscape is shaped by various factors, including taste, quality, price, and availability. In addition, consumer preferences and market trends play a significant role in determining a company's competitive position. As such, product innovation is a crucial competitive strategy in this market.

Key Players:

  • Amy's Kitchen
  • Beyond Meat
  • Daiya Foods
  • Danone S.A
  • Eden Foods Inc.
  • Follow your heart.
  • Impossible Foods
  • Oatly
  • Ripple Foods, Inc.
  • Tofurky


Recent Development

  • In Jun 2023, Violife UK has introduced a new plant-based cream cheese that incorporates garlic and herbs. This product is ideal for outdoor gatherings, such as picnics and barbecues, and can also be utilized as a spread on bagels or added to sauces.
  • In Jun 2022, Tata Starbucks has entered into a partnership with Imagine Meats, a plant-based food company, to retail vegan cuisine in India.


Vegan Food Market Report Segmentation



By Product Type 

  • Dairy Alternative
  • Meat Substitute
  • Others

By Distribution Channel

  • Offline Channels
  • Online Channels

By Region

  • North America (USA and Canada)
  • Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
  • Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
  • Latin America (Brazil, Mexico, and Rest of Latin America)
  • Middle East & Africa (South Africa, GCC, and Rest of Middle East & Africa)

Customization Scope

  • Available upon request


  • Available upon request

Research Methodology

Our research methodology has always been the key differentiating reason which sets us apart in comparison from the competing organizations in the industry. Our organization believes in consistency along with quality and establishing a new level with every new report we generate; our methods are acclaimed and the data/information inside the report is coveted. Our research methodology involves a combination of primary and secondary research methods. Data procurement is one of the most extensive stages in our research process. Our organization helps in assisting the clients to find the opportunities by examining the market across the globe coupled with providing economic statistics for each and every region.  The reports generated and published are based on primary & secondary research. In secondary research, we gather data for global Market through white papers, case studies, blogs, reference customers, news, articles, press releases, white papers, and research studies. We also have our paid data applications which includes hoovers, Bloomberg business week, Avention, and others.

Data Collection

Data collection is the process of gathering, measuring, and analyzing accurate and relevant data from a variety of sources to analyze market and forecast trends. Raw market data is obtained on a broad front. Data is continuously extracted and filtered to ensure only validated and authenticated sources are considered. Data is mined from a varied host of sources including secondary and primary sources.

Primary Research

After the secondary research process, we initiate the primary research phase in which we interact with companies operating within the market space. We interact with related industries to understand the factors that can drive or hamper a market. Exhaustive primary interviews are conducted. Various sources from both the supply and demand sides are interviewed to obtain qualitative and quantitative information for a report which includes suppliers, product providers, domain experts, CEOs, vice presidents, marketing & sales directors, Type & innovation directors, and related key executives from various key companies to ensure a holistic and unbiased picture of the market. 

Secondary Research

A secondary research process is conducted to identify and collect information useful for the extensive, technical, market-oriented, and comprehensive study of the market. Secondary sources include published market studies, competitive information, white papers, analyst reports, government agencies, industry and trade associations, media sources, chambers of commerce, newsletters, trade publications, magazines, Bloomberg BusinessWeek, Factiva, D&B, annual reports, company house documents, investor presentations, articles, journals, blogs, and SEC filings of companies, newspapers, and so on. We have assigned weights to these parameters and quantified their market impacts using the weighted average analysis to derive the expected market growth rate.

Top-Down Approach & Bottom-Up Approach

In the top – down approach, the Global Batteries for Solar Energy Storage Market was further divided into various segments on the basis of the percentage share of each segment. This approach helped in arriving at the market size of each segment globally. The segments market size was further broken down in the regional market size of each segment and sub-segments. The sub-segments were further broken down to country level market. The market size arrived using this approach was then crosschecked with the market size arrived by using bottom-up approach.

In the bottom-up approach, we arrived at the country market size by identifying the revenues and market shares of the key market players. The country market sizes then were added up to arrive at regional market size of the decorated apparel, which eventually added up to arrive at global market size.

This is one of the most reliable methods as the information is directly obtained from the key players in the market and is based on the primary interviews from the key opinion leaders associated with the firms considered in the research. Furthermore, the data obtained from the company sources and the primary respondents was validated through secondary sources including government publications and Bloomberg.

Market Analysis & size Estimation

Post the data mining stage, we gather our findings and analyze them, filtering out relevant insights. These are evaluated across research teams and industry experts. All this data is collected and evaluated by our analysts. The key players in the industry or markets are identified through extensive primary and secondary research. All percentage share splits, and breakdowns have been determined using secondary sources and verified through primary sources. The market size, in terms of value and volume, is determined through primary and secondary research processes, and forecasting models including the time series model, econometric model, judgmental forecasting model, the Delphi method, among Flywheel Energy Storage. Gathered information for market analysis, competitive landscape, growth trends, product development, and pricing trends is fed into the model and analyzed simultaneously.

Quality Checking & Final Review

The analysis done by the research team is further reviewed to check for the accuracy of the data provided to ensure the clients’ requirements. This approach provides essential checks and balances which facilitate the production of quality data. This Type of revision was done in two phases for the authenticity of the data and negligible errors in the report. After quality checking, the report is reviewed to look after the presentation, Type and to recheck if all the requirements of the clients were addressed.

Frequently Asked Questions

The size of the global vegan food market is expected to increase to USD 63.8 billion by 2030 from USD 24.59 billion in 2022.
Global vegan food market rising at a CAGR of 10.1% from 2023 to 2030.
Major players of global vegan food market are: Beyond Meat, Impossible Foods, Ripple Foods Inc., Tofurky, Amy's Kitchen, Daiya Foods, Oatly, Follow Your Heart, Danone S.A, and Eden Foods Inc.
The dairy alternatives type is expected to grow at the highest CAGR during the forecast period.
Europe is the leading region of the global vegan food market during the forecast period of 2030.

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