Authored By: Sarah
17 Feb 2025

Vegan Food Market Growth and Trends 2024-2028

The Global Vegan Food Market is on track to experience substantial growth, with a forecasted increase of USD 29.93 billion at a CAGR of 15.2% from 2023 to 2028. This surge is driven by growing health consciousness, an increase in lactose-intolerant consumers, and the expansion of plant-based product offerings from leading industry players. However, a lack of standardized guidelines continues to pose challenges for both manufacturers and consumers in the market.

For more details about the industry, get the PDF sample report for free

Vegan Food Market Segmentation

Distribution Channel:
- Offline: Traditional retail channels, including supermarkets, hypermarkets, department stores, and independent retailers, are expected to see significant growth. The offline segment remains strong, contributing substantially to revenue generation.
- Online: The rise of e-commerce and online grocery platforms is gradually transforming the market dynamics, making vegan food products more accessible to a wider consumer base.
Product:
- Dairy Alternative: Vegan milk, cheese, and other plant-based dairy alternatives are gaining traction, with growing consumer awareness about the ethical and health benefits of plant-based options.
- Meat Alternative: Plant-based meat products are becoming increasingly popular, catering to the rising demand for cruelty-free and nutritious food choices.
- Others: The broader category includes a variety of vegan food items, such as vegan snacks and processed foods, which continue to experience increased demand.

Regional Market Trends

North America:
- US: The US is leading the charge in the vegan food market, contributing significantly to the market's global growth. This trend is driven by a growing number of individuals adopting plant-based diets due to health and ethical reasons. The demand for plant-based products like vegan milk, cheese, and yogurt is surging, particularly among consumers with lactose intolerance and other dietary restrictions.
Europe:
- Germany
- France
APAC:
- China
- Japan
South America
Middle East and Africa

Market Dynamics

Drivers:
- The key driver of growth in the vegan food market is the increasing number of consumers adopting plant-based diets, motivated by health and ethical considerations. With an expanding vegan population, including a 300% growth in vegans in the US over the last decade, demand for dairy-free and meat-free alternatives is on the rise. Companies offering plant-based products, such as Upfield, Violife, and Treeline Cheese, are seeing a surge in popularity.
Trends:
- New Product Launches: The market is expanding due to the introduction of innovative plant-based products. For instance, Danone's launch of battered fishless fillets under the Birds Eye brand in the UK highlights the ongoing trend of product innovation.
Challenges:
- Lack of Standardization Guidelines: The vegan food market faces significant challenges due to the absence of standardized regulations across countries. Inconsistent labeling, manufacturing, and packaging processes hinder market growth, creating confusion among consumers and limiting trust in the health benefits of certain products. In India, for example, food safety regulations present additional obstacles for market expansion.