In the age of the internet, the awareness of consumers is far more than ever. Many consumers have become acquainted with how their food is sourced or produced. Such developments have led to paced adoption of vegan diets in order to reduce dependence on animal products. Recent research has also scrutinised the meat industry for its massive environmental impact and greenhouse gas emissions. The growing trend of adopting a cruelty-free and environmentally sustainable lifestyle has created tremendous opportunities in the global vegan food market. Unhealthy dietary habits have also created a considerable healthcare burden. This is due to the connection between cardiovascular disease and diets with a high quantity of red meat and animal fats. Consumers are adopting vegan diets to cleanse their consumption habits and lead healthier lives. This is also boding well for global vegan food market expansion.
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Enhanced Focus on Dietary Habits to Prolong Growth Trajectory
Of late, the general population has become more aware of their dietary choices with respect to how sustainable and cruelty-free they are. In addition, a sedentary lifestyle, growing consumption of processed foods, and high consumption of carbohydrates and fats have had severe effects on public health. To this end, consumers have started to take corrective measures to regain their health and avoid developing cardiovascular diseases. Vegan diets have gained tremendous traction under such circumstances. This completely plant-based diet is high in vitamins, minerals, and fibre. Moreover, it also boosts metabolism and detoxifies the body. Such a consumer propensity is enabling the growth of the global vegan food market.
Soaring Demand for Sustainable Packaging to Catalyse Global Vegan Food Market Expansion
Sustainability is one of the key focus areas for consumers who are adopting a vegan diet. Contemporarily, people are also focusing on reducing food wastage, limiting their carbon footprint, and emissions caused by their consumption patterns. Against this backdrop, many market players have started to offer sustainable food packaging materials. This includes reducing plastic usage in packaging, adopting eco-friendly packaging materials, and ensuring efficient recyclability of the packaging material. Nowadays, sustainable packaging is no longer limited to vegan food only. Moreover, the modern label-cautious consumers who demand more visibility about what their food contains are growing in number. Such trends are creating favourable tailwinds for the global vegan food market expansion.
Focus on Dietary Choices and Cardiovascular Health Creating Headways Across North America
The higher availability and diversity of vegan food products are creating a fertile environment for the growth of the vegan food market in North America. Moreover, the inclination towards veganism also increasing due to a heightened awareness regarding nutrition, fighting lifestyle diseases, weight loss, and maintaining cardiovascular health. The region is blessed with a number of vegan food brands. In addition, several major food brands are launching vegan alternatives to popular products. Many vegan products identical to meat have also entered the market with varying degrees of success in capturing the consumers’ attention.
Key Market Players
Some of the most competitive players in the global vegan food market include Beyond Meat, Archer Daniels Midland Company, DANONE S.A., Axiom Foods Inc., Conagra Inc., Alpro, Tofutti Brands Inc., and Kellogg Company.
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