Report

Global vegan food market is projected to witness a CAGR of 10.71% during the forecast period 2025-2032, growing from USD 28.65 billion in 2024 to USD 64.66 billion in 2032. The market is being driven by issues of health, especially animal-related (animal welfare) and environment-related. Veganism has, however, found its way through consumer preferences and the availability of vegan foods in stores and restaurants. This demand is spread across different regions; however, it is more pronounced in certain regions due to higher demand for vegan options and dietary restrictions as observed with lactose intolerant people.
Increased awareness of the health benefits associated with vegan diets, such as the reduced risks of heart and cholesterol levels, is driving consumer interest, aligned with the ethical appeal of veganism, which leads to the conservation of the world's environment. Major companies in the industry have been contributing substantially to the market's growth with a view to launching new products of high quality and expanding the distribution pattern so that more people in the world can have access to vegan alternatives.
The growing number of individuals participating in e-commerce has carried forward the market by assisting users in finding many vegan food items easily, even while relaxing at home. Also, the innovation in varied forms and sophisticated plant-based foods have ridiculed the notion that a vegan diet is limited or flavorless, thereby attracting even more consumers.
In March 2024, Yo Egg, a food technology company in Israel, started the distribution of poached and sunny-side-up eggs in retail areas across the United States, particularly in Los Angeles. Yo Egg specializes in precooked, poached, frozen, and sunny-side-up eggs that are ready to boil or fry. They are made up mainly of chickpeas, soy proteins, and sunflower oil.
Ethical Concerns Catalyze Market Expansion
The vegan food market raises numerous ethical dilemmas, many of which grow more intricate over time. The key factors include "welfare washing," which is the introduction of vegan products by companies while practicing anti-vegan ethics and compromising the conscience of the consumers. Such companies make use of materials sourced from animal cruelty and deforestation, examples of which include palm oil or genetically modified crops that have been sprayed with poisonous chemicals. Additionally, there are ethical objections to having a vegan brand owned by a company popular for meat or dairy. This is in disagreement with the vegans as such companies could support industries that do not commonly serve vegans and are avoided by them. However, greenwashing is a term that refers to the numerous misleading marketing practices adopted by companies, which in turn aggravates the issue of ethical consumerism. Therefore, consumers are now looking forward to vegan businesses becoming transparent and authentic in their operations, using packaging in the form of smart labels and following fair trade practices.
With growing ethical concerns, in March 2024, Impossible Foods announced that it was unveiling its all-new identity sparked by the craving ability of meat. It invites flexitarian and meat-eating customers to believe that their food (now with such a striking red appeal) tastes better, is health-friendly, and are good for the environment as well.
Availability and Variety of Products Influences Market Growth
The availability of different vegan food products has greatly increased the market's growth, making it easy for people to follow their diet trends. Most of the products are quite common in restaurants and supermarkets, including substitutes for meat and dairy products, such as cheese and soy milk. Furthermore, e-commerce growth has allowed people to order even vegan products online from anywhere, providing convenience to them.
Recent developments in food technology have been instrumental in enhancing the palatability and texture of vegan items, thereby attracting a wider audience. This diversification and widespread distribution are the two most important factors propelling the expansion of the vegan market. With increasing opportunities, consumers can easily get items that meet their specific dietary requirements and preferences.
In January 2025, UK-based Marks and Spencer plc, under its brand name Plant Kitchen, launched a new and improved range of vegan products, including two new products and 10 other "upgraded" dishes. The two new products were Plant Kitchen Garlic & Not'zerella Flatbread and Plant Kitchen Smoky Veggie Sausages.
Meat Alternatives Hold Dominant Market Share
Vegan products are undoubtedly taking over the world. They are getting more popular due to their availability within the market as well as variations in their consumption. The idea of these vegan products being a form of meat alternative is quite apparent as they possess the same tastes and flavors. Vegetarian and vegan meats are generally promoted for health purposes as they help replace unwanted preservative-laden junk foods. The projected worth of the global meat offerings would see high growth due to driving factors like an introduction to a better and vegan lifestyle, issues like environmental sustainability, and even moral issues related to cruelty towards animals.
Leading market players are innovating their product lines, replicating the taste experiences of traditional meat products. Countries like India and China are particularly witnessing rapid growth in demand for vegan food alternatives, with growing awareness among consumers regarding healthy and ethical food consumption. Meat alternatives are expected to hold the dominant market share in the vegan food market, with increasing consumer preference for sustainable food options and ongoing technological advancements.
In February 2025, Juicy Marbles by Formidable Foods, Inc., famous for vegan meat items, launched its latest product, an alternative to lamb meat named "Meaty Meat." Like the "Whole Cut Loin" or "Thick Cut Filet" by the company, which contains 20 grams of protein each per serving, this new product is the most protein-dense with 34 grams per serving.
Europe Dominates the Market
With a growing alternative protein market, Europe, with many countries having high per capita consumption of meat alternatives, such as the United Kingdom, Germany, and the Netherlands, dominates the global vegan food market, capturing a substantial share of it. The dominance is majorly driven by heightened health awareness, ecological concern, and modifications in dietary preferences.
Furthermore, the vegan trend can be attributed to various other factors, including introducing new types of products, enhanced ease of access, and increasing the number of people becoming flexitarian, i.e., people who are not practicing a strict vegetarian or non-vegetarian diet. Some of the regional and national brands in the food and beverages sector of Europe are largely practicing high-yield innovation and distribution simultaneously.
In January 2025, an England-based vegan food company, JULIENNE BRUNO LTD, launched its recent innovative vegan product, Mozzafiore Pearls, which is to replace the classic cheese version. With Whole Foods Market UK's exclusive distribution at Kensington and Piccadilly stores, this revolutionary vegan cheese, inspired by traditional mozzarella, is made entirely using plant-based ingredients and without any dairy.
Future Market Scenario (2025-2032F)
- With a growing number of people adopting flexitarian meal plans and seeking sustainable food choices, vegan and meat alternatives are expected to become a more popular trend.
- Strategic collaboration of major industry players with vegan and vegetarian startups is expected to take place in the future. These collaborations will broaden their reach through new channels, increase the range of products, and promote further innovation within the industry.
- The growth of the market will be driven by the incorporation of technology in food processing as well as the development of a new range of raw materials and supplementary products into the market.
Key Players Landscape and Outlook
Players in the vegan food industry include established multinational food companies and specialized plant-based food companies. They are fostering market growth with the help of product innovation and strategic partnerships, thereby improving distribution networks and enhancing product development capabilities. Acquisitions of smaller start-ups by larger companies give rise to their repositioning in the markets. This is widely observed, especially in mature markets, where dominant companies tend to invest in strategic acquisitions.
Moreover, market competition is heavily influenced by small manufacturers that produce goods specifically for local consumers seeking particular tastes and preferences. Such medium and small-sized firms devise more technique-savvy tactics in preparing, delivering, and introducing fresh products or ingredients, hence satisfying the consumer's needs by making all vegan food products. Many players are trying to expand their reach to other countries to enhance their availability in foreign markets. For instance, in January 2025, Beyond Meat, Inc. launched its popular Beyond Steak in France for the first time. The product comprises fava beans and wheat and contains 182 calories and 24g protein per 100g. the brand aims to assist French restauranteurs in diversifying their menus with plant-based and vegan options.