Vegan food market: projected growth and market dynamics
Technavio’s latest market research report estimates significant growth of €19.6 billion between 2021 and 2026. The market is projected to register a CAGR of 12.25% during this period. The report provides detailed insights into the current market scenario, trends, drivers and the overall market environment. The vegan food market is segmented based on products, including dairy alternatives, meat alternatives, and others, as well as geographical regions such as North America, Europe, APAC, South America and the Middle East and Africa. The growing number of vegan consumers One of the key drivers for the expansion of the vegan food market is the growing number of individuals adopting a vegan lifestyle. Veganism, which focuses on eliminating animal exploitation and cruelty in various industries, including food and clothing, has gained significant traction. People are embracing veganism for health, ethical and environmental reasons. Notably, food service outlets are also catering to this grow