Lactose Free Food Global Market Report 2022

June 2022 •
300 pages •
Report ID: 6284488 •
Format: PDF

Summary
Table of contents

Major players in the market are Amy’s Kitchen, Vitasoy International Holdings Ltd., Beyond Meat, Tofutti Brands, Plamil Foods Ltd., Danone S.A., Vbites Foods Ltd., Eden Foods Inc., Whitewave Foods Company Inc, Sun Opta Inc.

The global vegan food market is expected to grow from $13.55 billion in 2021 to $14.45 billion in 2022 at a compound annual growth rate (CAGR) of 6.6%. The market is expected to grow to $18.73 billion in 2026 at a compound annual growth rate (CAGR) of 6.7%.

The vegan market consists of the sale of vegan products and related services for consumption purposes.Vegan products include food and beverages produced without the use of animal ingredients or animal-derived ingredients.

Vegan food products include fruits and vegetables, legumes such as peas, beans, plant protein-based tofu and plant protein-based meat.

Asia Pacific was the largest region in the vegan food market in 2021.Western Europe was the second-largest region in the vegan food market.

The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

An increase in the concern about the environment among the population is driving the growth of the vegan market.Rearing and breeding of livestock such as pigs, hens, cows, goats in farms contributes to the greenhouse effect.

Greenhouse gases are released from agriculture of livestock such as cows and the gases released block the atmospheric heat from escaping which increases the overall temperature.The demand for animal meat requires excess practice of animal farming.

Thus, increase in the number of consumers for vegan food, eliminates the demand for excessive animal farming, following a decrease in emission of greenhouse gases in the environment. According to the United States Environmental Protection Agency, in 2018, total gross U.S. greenhouse gas emissions were 6,676.6 million metric tons of carbon dioxide equivalent (MMT CO2 Eq). Thus, an increase in the concern about the environment among the population is driving the growth of the vegan market.

Vegan food products lack certain nutrients.Vegan products do not contain any animal ingredients or animal-derived ingredients.

Vegan food doesn’t contain an adequate amount of high-quality protein and fats, vegan and vegetarian diets lack in many very important minerals, such as calcium, iron, and zinc.According to a study published in 2020 by BMC Medicine, vegans have a higher fracture risk as compared to meat-eaters, fish eaters, and vegetarians.

The strongest associations were observed for hip fractures, for which fish eaters, vegetarians, and vegans all had higher risks.This is due to an inadequate calcium intake in a vegan diet.

Therefore, the lack of essential nutrients factor impacts the growth of the vegan market.

One of the trends in the vegan market is the production of meat through cell-based technology.The cell-by -cell identical meat is produced in factories without involving the killing of animals.

Production of cell -based meat involves feeding the animal cells with nutrients and proteins thus, eliminating the need for dependence on animals for meat. Following the trend, in 2019, Memphis Meats, a U.S.A based cell-based meat start up, received investments from Cargill, a U.S.A based food production company, for the production of cell-based vegan animal meat. Other major players such as Tyson Foods., an U.S.A. based processor and marketer of chicken, beef, and pork, are also investing in Memphis Meats in order to support the cell -based meat production.

The countries covered in the market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

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