Vegan Meals Market

Vegan Meals Market Outlook (2023 to 2033)

The global vegan meals market is expected to be valued at USD 2186.9 Million in 2023 and to reach a valuation of USD 3771 Million by 2033.

Some of the key drivers of the vegan meals market include:

• Health concerns: Many people choose to follow a vegan diet for health reasons, as plant-based foods are typically lower in saturated fat and cholesterol, and higher in fiber and antioxidants.
• Environmental concerns: The production of animal-based foods can have a negative impact on the environment, including greenhouse gas emissions, deforestation, and water pollution. Some people choose vegan meals as a way to reduce their carbon footprint and support environmentally sustainable practices.
• Animal welfare concerns: Some people choose vegan meals out of concern for animal welfare, as traditional animal farming practices can be inhumane.
• Increased availability and variety: Vegan meals are becoming increasingly available and diverse, with a wide range of options available in supermarkets, restaurants, and online. This makes it easier for people to follow a vegan diet and try new plant-based products.
• Changing consumer attitudes: There is a growing awareness of the benefits of a plant-based diet, and more people are open to trying vegan meals and incorporating them into their diets. This shift in consumer attitudes is driving demand for vegan products.

Owing to these factors, the demand for vegan meals is estimated to grow at a steady 6.2% CAGR, with the UK, the US, Germany, and Japan emerging as key producers.

Attributes	Details
Vegan Meals Market CAGR (2023 to 2033)	6.2%
Vegan Meals Market Size (2023)	USD 2186.9 Million
Vegan Meals Market Size (2033)	USD 3771 Million

How is the Future Outlook for Vegan Meals in Comparison to Historical Pattern?

The global demand for vegan meals grew at a CAGR of 6.1% between 2016 and 2022, and it's expected to expand at a CAGR of 6.2% between 2023 and 2033. The market's growth potential can be assessed in three ways: short-term, medium, and long-term.

Short-Term Outlook (2023 to 2025):	The increasing global popularity of plant-based food is supporting the short-term growth of the market, which reflects the growing interest in veganism around the world. For example, according to Google Trends, the top regions with an interest in veganism from 2004 to 2022 include the UK, Israel, New Zealand, Australia, and Austria. In addition, there has been a decrease in meat consumption among consumers. For instance, according to a Gallup Poll published in 2020, 23% of Americans reported eating less meat in 2019 compared to the previous year.
Mid-Term Outlook (2025-2028):	There is growing concern about the health of animals and their treatment of animals, which is leading more people to switch to plant-based meals. As a result, there has been an increase in the demand for vegan meals. For example, Grubhub, a major online food delivery app, reported a 17% increase in vegan food deliveries in 2021. This is expected to impact the sales of vegan meals in the midterm.
Long-Term Outlook (2028 to 2033):	As younger people become more aware of the impact of meat consumption on climate change, demand for plant-based products is expected to increase gradually in the Asia Pacific region. However, cultural differences in countries like India, China, and Japan can significantly affect the rate at which people adopt vegan diets. For example, while there are many vegetarians in India, the acceptance of a completely animal-free diet is still low. It is expected that increased consumer awareness is expected to play a key role in driving the long-term growth of the vegan meals industry.

Key Drivers and Restraints of the Vegan Meals Market

As people become more aware of the health benefits of plant-based food, the consumer base for this industry has grown. Plant-based products can help maintain healthy blood pressure levels and reduce the risk of heart disease, stroke, prostate cancer, colorectal cancer, cholesterol, and premature death. The increasing production of plant-based meat alternatives in the Asia Pacific region also presents significant growth opportunities. For example, in June 2020, Cargill Inc. launched its PlantEver brand in China, offering protein alternative options to consumers.

The low nutritional value and high cost of vegan foods are expected to hinder the growth of the market. Many companies are working to bring plant-based alternatives to market, but they often have higher prices than animal-based products. Additionally, plant-based fast food is less appealing to some consumers because it may have a different flavor and texture compared to traditional animal-based options. As a result, it may take longer for people to adopt vegan meals.

Vegans may also be at risk of nutrient deficiencies, which can lead to various health problems. To ensure a healthy and balanced diet, it is important for vegans to seek guidance from healthcare professionals who can help create a plan based on the vegan food pyramid.

Country-wise Insights

How Will the Vegan Meals Market Expand Across the US?

The demand for vegan meals in the United States is on the rise for many reasons:

• The rising popularity of vegan diets can be attributed in part to its perceived ability to help individuals lose weight and lower their chance of developing serious conditions including heart disease, diabetes, and cancer.
• Animal-based products may be extremely resource-intensive to manufacture, therefore many people regard vegan food as a more sustainable and environmentally friendly alternative.
• Across the United States, vegan options may now be found in an increasing number of restaurants and stores.

All of these things are helping to increase the demand for vegan meals in the United States.

Top Companies Operating in the US Vegan Meals Industry

Purple Carrot	This company offers plant-based meal delivery services and focuses on using whole, unprocessed ingredients.
Veestro	This company offers a variety of vegan and plant-based meals that can be delivered to your door.
Freshly	This company offers a range of vegan meals that are made with fresh, whole ingredients and are ready to eat in minutes.
VeggieBox	This company offers vegan meal delivery services and focuses on using locally sourced, organic ingredients.

Will the UK Continue Dominating the Vegan Meals Market?

CAGR (2023 to 2033)	7%
UK Vegan Meals Market Share	9.6%
UK Vegan Meals Market Valuation (2022)	USD 197.9 Million
UK Vegan Meals Market Valuation (2033)	USD 414.4 Million

Some key factors driving the UK market are:

• Some British citizens adopt veganism out of moral conviction, as they believe the exploitation and suffering of animals are inherent in the production of goods derived from them.
• Vegan choices are becoming increasingly available in the United Kingdom, as more and more eateries and grocery stores stock vegan menus.
• The government of the United Kingdom has taken measures, such as implementing stricter labeling requirements and sponsoring scientific investigation into plant-based alternatives, to encourage the development of the vegan meals industry.

Top Companies Operating in the UK Vegan Meals Industry

Vegan Deli	This company offers a range of vegan and plant-based meals that are available for delivery or pickup.
Veggie Box	This company offers vegan meal delivery services and focuses on using locally sourced, organic ingredients.
The Veggie Pret	This chain of vegan and plant-based fast food restaurants is based in the UK and offers a variety of sandwiches, soups, and salads.
AllPlants	This company offers plant-based meal delivery services and focuses on using whole, unprocessed ingredients.

Will China Emerge as a Lucrative Market?

CAGR (2023 to 2033)	5%
China Vegan Meals Market Share	8.1%
China Vegan Meals Market Valuation (2022)	USD 166.95 Million
China Vegan Meals Market Valuation (2033)	USD 286.2 Million

Despite the rising popularity of vegan meals in China, there are still a few restraints that are holding back the growth of the market.

Traditional Chinese cuisine often includes animal-based ingredients, and some people may be hesitant to try plant-based alternatives. There may also be cultural or societal pressures to consume animal-based products, which could deter some people from trying vegan food.

Additionally, some people may be hesitant to try vegan food due to preconceived notions about the taste or nutritional value of these products. There may also be limited availability of vegan meals in certain areas, which could make it difficult for people to access these products.

Top Companies Operating in the China Vegan Meals Industry

Pure Lotus	This company offers vegan meal delivery services and focuses on using locally sourced, organic ingredients.
Vege Paradise	This chain of vegan restaurants is based in China and offers a variety of plant-based dishes.
Loving Hut	This chain of vegan restaurants is based in China and offers a variety of dishes made with plant-based ingredients.
VeggieLife	This company offers a range of vegan and plant-based meals that are available for delivery or pickup.

Why is India seen as an appealing market for Vegan Meals?

CAGR (2023 to 2033)	6.1%
India Vegan Meals Market Share	3.3%
India Vegan Meals Market Valuation (2022)	USD 68 Million
India Vegan Meals Market Valuation (2033)	USD 130.5 Million

India is a major market for vegan meals in the Asia Pacific region, and demand for vegan fast-food options like chips, biscuits, muffins, chocolates, soymilk ice cream and shakes, and bakery items is expected to drive market growth. The growing awareness among consumers of healthy lifestyles, including the benefits of plant-based diets, is also expected to contribute to the growth of the vegan meals industry in India.

Top Companies Operating in the Indian Vegan Meals Industry

Veganistan	This company offers vegan meal delivery services and focuses on using whole, unprocessed ingredients.
The Green Path	This company offers a range of vegan and plant-based meals that are available for delivery or pickup.
Veggie Delight	This chain of vegan and plant-based fast food restaurants is based in India and offers a variety of burgers, sandwiches, and salads.
The Vegan Kitchen	This company offers a variety of vegan and plant-based meals that are made with fresh, whole ingredients and are ready to eat in minutes.

Category-wise Insights

Segment	Format
Top Sub-segment	Chilled
Market Share	57.3%

Segment	Distribution Channel
Top Sub-segment	Forecourt Retailers
Market Share	3.2%

The chilled vegan meal segment refers to the market for vegan meals that are sold chilled or refrigerated, rather than frozen or shelf stable. These types of meals are typically made with fresh, whole ingredients and are intended to be consumed within a relatively short period of time after they are purchased.

The chilled vegan meal segment is growing in popularity as more people are looking for convenient, healthy, and plant-based meal options. These types of meals are often seen as a more convenient and healthier alternative to fast food or processed snacks, and they can be a good option for people who are trying to incorporate more plant-based options into their diets.

Competitive Landscape

There are several key strategies that companies in the vegan meal market may use to differentiate themselves from their competitors and appeal to consumers:

• Focusing on health and wellness: Many vegan meal companies emphasize the health benefits of their products, such as the use of whole, unprocessed ingredients and the absence of animal-based products.
• Highlighting sustainability: Vegan meal companies may also differentiate themselves by highlighting the environmental benefits of their products, such as the reduced resource consumption and greenhouse gas emissions associated with plant-based diets.
• Offering convenient and easy-to-use products: Vegan meal companies may also focus on offering products that are convenient and easy to use, such as ready-to-eat meals or meal delivery services.
• Promoting ethical values: Some vegan meal companies may differentiate themselves by promoting ethical values such as animal welfare or social responsibility.
• Offering a wide range of products: Vegan meal companies may also differentiate themselves by offering a wide range of products, including a variety of dishes, snacks, and drinks.

Overall, companies in the vegan meal market may use a variety of strategies to appeal to different segments of the market and stand out from their competitors.

Key Segments

By Product:

• Ready-to-eat meals
• Meal kits
• Snacks
• Beverages

By Distribution Channel:

• Retail outlets
• Online sales
• Meal delivery services

By Region:

• North America
• Latin America
• Europe
• Asia Pacific (APAC)
• Middle East & Africa (MEA)

Frequently Asked Questions

How Much is the Vegan Meals Market Worth?

The Vegan Meals market is estimated to be worth USD 2186.9 Million in 2023.

What is the Demand Outlook for the Vegan Meals Market?

The Vegan Meals market is expected to be valued at USD 3771 Million by 2033.

At What Rate Does the Vegan Meals Market Grow in the Last Five Years?

The Vegan Meals market expanded at 6.1% CAGR in the last five years, from 2017 to 2022.

Which Segment has the Highest Potential in the Vegan Meals Market?

The chilled segment accounted for nearly 57.3% market share in the global Vegan Meals market in 2023.