Latest News- Packaged Vegan Foods Market: Offline is expected to lead the Distribution Channel segment during 2025-2029

The Packaged Vegan Foods Market is being driven by Rising veganism

The Packaged Vegan Foods Market is expected to grow at a CAGR of 16.4% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 37944.1 million. In the business context, the expanding consciousness regarding the health advantages linked to vegan diets is driving an increasing number of consumers to adopt this lifestyle. A vegan diet offers several corporate health benefits, including aiding in weight loss, as those following this diet typically exhibit lower body mass indices than non-vegans. Furthermore, vegan diets contribute to the reduction of blood sugar levels and the enhancement of kidney function, making them an effective preventative measure against type 2 diabetes. Additionally, research suggests that a vegan diet may decrease the risk of certain types of cancers, making it a prudent and health-conscious choice for individuals seeking to optimize their overall wellbeing. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Distribution Channel
  • Offline
  • Online
• Product
  • Vegan milk
  • Vegan meat
  • Others
• Geography
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Sweden
  • North America
    • Canada
    • US
  • APAC
    • China
    • India
  • Middle East and Africa
  • South America

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Rising veganism
• Growing organized retail sector
• Rise of private label brands

However, the market also witnesses some limitations, which are as follows:

• Distribution challenges
• Stringent rules and regulations
• High price and limited awareness

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Market Scope in Packaged Vegan Foods Market Research Report

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Research Analysis Overview

The vegan food market, also known as the vegetarian market or plant-based alternatives sector, is experiencing significant growth due to various factors. These include the rise of vegan festivals and fairs, the increasing popularity of a vegan diet for health reasons such as heart disease prevention and weight control, animal welfare concerns, and environmental sustainability. Celebrity endorsements and influencer culture have also played a role in promoting veganism. The vegan food industry offers a wide range of packaged vegan meals, vegan bakery and confectionery products, frozen vegan foods, vegan snacks, dairy alternatives, meat substitutes, vegan proteins, and vegan beverages. Many of these products are labeled as organic and use clean labels, emphasizing their health benefits. Food technology has enabled the creation of nutritious and convenient vegan options, catering to various dietary preferences and chronic illnesses. The processed food market is responding with an increasing number of plant-based products, including vegan desserts, vegan proteins, and sustainable diets. Food packaging is also becoming more eco-friendly to align with the environmental values of the vegan community.

Market Research Overview

The packaged vegan foods market represents a significant segment within the global packaged foods and meats industry. This sector caters to the increasing demand for plant-based alternatives to traditional animal products, driven by consumer trends such as the vegetarian fair, Vegan diet, and Vegan festivals. Manufacturers and food processing vendors specializing in vegan products are key players in this market. The market's growth is underpinned by the health benefits associated with a vegan diet, including reduced risk of heart disease, and the availability of minimally processed, nutrient-rich vegan food options, such as packaged vegetables, which provide essential nutrients like potassium, dietary fiber, folate, vitamin A, and vitamin C. Technavio projects that this market will experience robust growth due to these factors.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/