The convenience of easy handling and healthy food simultaneously is leading consumers to adopt a packaged vegan foods.
HYDERABAD, TELANGANA, INDIA, December 26, 2022 /EINPresswire.com/ — IndustryARC, in its latest report, predicts that Packaged Vegan Foods market size is forecast to reach $14.3 billion by 2026, growing at a CAGR of 8.2% during the forecast period 2021-2026. The vegan diet does not contain anything sourced from animals, because of which it is considered to be nutritious food and preferable over meat. Phytochemicals are plant-based ingredients which are the primary chemicals of packaged vegan foods, like dairy alternatives and confectionery products. These phytochemicals when consumed regularly helps to boost immunity by stimulating various protective enzymes in the human body. This is the primary reason behind the rapid adoption of vegan food, worldwide. Additionally, the growing concern regarding animal welfare and cruelty is motivating a lot of people to turn to vegan diet. This is set to further enhance the overall market development of the Packaged Vegan Foods Market for the period 2021-2026.
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Key takeaways:
This IndustryARC report on the Packaged Vegan Foods market highlights the following areas –
1. North America dominated the Packaged Vegan Foods Market in 2020 owing to the growing number of consumers turning to vegan products after becoming aware of ill-effects caused by over consumption of meat. The Packaged Vegan Foods market scope for different regions will be provided in the final report.
2. Growing inclination of consumers towards ready-to-eat vegan products coupled with ethical concerns surrounding animal cruelty are likely to aid the market growth of the Packaged Vegan Foods Market report.
3. Detailed analysis of the Strength, Weakness, and Opportunities of the prominent players operating in the market will be Packaged Vegan Foods Market report.
4. Labeling of vegan food is becoming a concern with disparity occurring in the nutritional and ingredients claimed by key competitors which is poised to create the hurdles for the Packaged Vegan Foods Market.
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Segmental Analysis:
Packaged Vegan Foods Market Segment Analysis – By Type : Dairy alternatives segment held the largest share in the Packaged Vegan Foods Market in 2020 and is estimated to grow at a CAGR 7.4% during the forecast period 2021-2026.
Packaged Vegan Foods Market Segment Analysis – By Distribution Channel : Hypermarkets/Supermarkets held the largest share in the Packaged Vegan Foods Market in 2020 and is estimated to grow at a CAGR of 7.7% during the forecast period 2021-2026.
Packaged Vegan Foods Market Segment Analysis – By Geography : North America dominated the Packaged Vegan Foods Market with a major share of 38.1% in 2020. This is attributed to the growing number of consumers turning to vegan diet after being aware of the ill-effects of meat-based products on health.
Competitive Landscape:
The top 5 players in the Packaged Vegan Foods Industry are –
1. Amy’s Kitchen
2. Danone S.A
3. Beyond Meat
4. Plamil Foods
5. Tofutti Brands
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