The veggie meals market is estimated to secure a valuation of US$ 4.1 billion in 2023 and is estimated to rise to US$ 8.2 billion by 2033. The market is anticipated at a CAGR of 7.3% during the forecast period. The factors accelerating the demand for the veggie meal are as follows-
Consumers are shifting to healthy eating due to the increased rate of chronic diseases caused by unhealthy, high-calorie junk food. The veggie meal market is growing owing to the increased demand for vegan and vegetarian food due to health benefits.
The consumer shift to a vegan diet due to growing environmental concerns and animal welfare is creating an opportunity for veggie meal manufacturers. The growing popularity of a plant-based diet is boosting the demand for a veggie meal since more consumers are turning to vegan food. The health benefits associated with the veggie meal is one of the major factor anticipated to accelerate the market growth.
The increasing availability of veggie meals in supermarket hypermarkets, convenience stores, specialty stores, and online platforms is one of the major factors that is projected to propel the market growth in the near future.
North America is expected to account for the highest share of the veggie meal market owing to the increased demand for convenient food products and increased consumer spending on healthy food products. The increased awareness of vegan diets in the USA and Canada is fueling market growth in the region.
Europe is witnessing significant market growth in the veggie meal market due to a growing consumer focus on healthy eating habits and increased spending on healthy food products in the region.
Asia Pacific region is a significant market for veggie meals due to the improving economic condition and an increasing number of health-conscious consumers in developing nations like China and India.
The leading players operating in the veggie meal market include Tasty Bite, Nasoya, Garden Lite, Veggies Made Great, Knorr, Great value, Kitchens of India, Green Giants, Morning Star farms, Healthy Choice, InnovAsian Cuisine, Marie Callender’s, Thai Kitchen and Others. The market players are doing innovations and are bringing new and exciting flavors of veggie meals to the market to fulfill the demand of the rising consumer base. For instance, Veggies made great introduced broccoli cheddar veggies cakes, it is gluten-free, soy-free, and peanut free. Other product range includes superfood veggie cake and butternut squash veggie cake.
The veggie meal market is expected to witness steady growth in the coming years. The increasing demand for these products, driven by changing consumer preferences and lifestyle changes, is expected to drive the growth of the veggie meal market. One of the major trends driving the growth of the veggie meal market is the increasing demand for natural and organic food products.
Consumers are becoming more health-conscious and are seeking plant-based food alternatives. New start-ups are entering the market and launching new and innovative product options for a veggie meal. For instance, founded in 2006, Just Salads is a fast-casual restaurant chain that offers a variety of vegetarian and vegan options like salad, grain bowls, and wraps. It mostly serves plant-based options with homemade dressings.
| Data Points | Key Statistics |
|---|---|
| Expected Market value in 2023 | US$ 4.1 billion |
| Projected Market Value in 2033 | US$ 8.2 billion |
| Growth Rate (2023 to 2033) | CAGR of 7.3% |
The veggie meals market will witness steady growth in the long term because it provides a high level of nutrition and protein and also rising consumption of plant-based products have surge its market.
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With further ingredient and processing advances, food manufacturers are enhancing the flavour, texture, and mouthfeel of veggie meals. Consumers around the world are becoming more aware of the importance of eating safe, ethical, and cost-effective foods that have a low environmental impact, which is driving demand for plant-based alternatives such as veggie meals.
There has been a need for rich protein-based food due to the increasing global population and a significant shift in food production and consumption. Also, the demand for veggie meals is expected to expand rapidly as people around the world become more aware of veganism, flexitarianism, and the environmental effects of meat.
Other factors, such as the availability of ready-to-eat (RTE) and frozen veggie meals, as well as comprehensive advertising campaigns by celebrities and athletes promoting the consumption of veggie meals to maintain a healthier lifestyle, are expected to fuel the demand for veggie meals across the globe.
One of the primary factors driving veggie meal sales is the increasing incidence of chronic lifestyle diseases, which help to control blood glucose levels and reduce the risk of stroke, obesity, and cancer. Furthermore, to draw a broader customer base and broaden their product range, market players are introducing several premium-quality veggie meals in a variety of flavours and enticing packaging solutions.
Aside from that, several non-governmental organisations are supporting farm animal welfare and raising awareness about the health benefits of an animal-free diet. Veggie meals are becoming more common around the world as rising awareness among people about cruelty against animals and their health in the food industry. Thus, these factors are driving the sale of veggie meals in the coming years.
Principal Consultant
For the perceived health benefits or ethical dilemmas associated with meat production, an increasing portion of the USA and Canadian population has either adopted a nonmeat diet or demonstrated a willingness to restrict consumption of animal products. Furthermore, since vegetarians and vegans have been restricted by food selection at traditional cafes and restaurants.
Therefore, the operators have joined the food industry to meet the increasing demands of a growing customer base for food products including vegetables and plant ingredients as a major source of proteins and nutrients and this will help in boosting the demand for veggie meals in USA and Canada.
The demand for convenient meal solutions among European consumers has been steadily increasing and which is helping in propelling the veggie meal market growth in the European region. In Europe, United Kingdom is leading the veggie meals market.
Also, the increased consumer spending on eating out, especially among younger consumers who spend more on eating than the average, will help the European veggie meal market grow even more. As part of a lifestyle change, consumers in the area are becoming more interested in vegan and organic foods.
A significant change has occurred from high-fat foods to low-fat, high-protein vegetables and fruits. Hence, boosting the demand for a veggie meal in the region.
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Some of the key market players involved in the veggie meals market are Amy's Kitchen
Key market players are bringing new and exciting flavours of veggie meals into the market to satisfy the growing customer base and also the demand for creative products and flavours in many regions.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments.
The report also maps the qualitative impact of various market factors on market segments and geographies.
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Veggie Meals Market
