Packaged Vegan Foods Market in the US 2017-2021

Overview of the packaged vegan foods market in the US

Research analysis on the packaged vegan foods market in the US identifies that the rising initiatives by organizations to promote veganism will be one of the major factors that will have a positive impact on the growth of the market. Many organizations have started awareness initiatives regarding animal rights to promote veganism. These organizations include People for the Ethical Treatment of Animals (PETA), the American Society for the Prevention of Cruelty to Animals (ASPCA), Petfinder, Animal People, Woodstock Farm Sanctuary, North Shore Animal League America, and others. The US has established various animal welfare regulations and policies to reduce the harm inflicted on farm animals. Consumers are also encouraged to consume packaged vegan food products because it protects the environment. Technavio's market research analysts predict that this market will grow at a CAGR of more than 8% by 2021.

One of the major key trends that will be responsible for the market's growth during the estimated period is the rising dependence on media buzz and celebrity endorsements to promote veganism. For instance, in 2015, Beyoncé set out to promote the 22 day revolution on Good Morning America, that promoted the health benefits of consuming a vegan diet. This encourages and influences the followers and health conscious consumers to follow the food habits of celebrities that will, consequently, boost the demand for packaged vegan food items in the forthcoming years.

Competitive landscape and key vendors

The packaged vegan foods market in the US is characterized by the presence of many players. These vendors are increasingly competing against each other based on factors such as price, product differentiation, quality, distribution, and promotion. The growing popularity and awareness of packaged vegan food products is enhancing the growth opportunities of these vendors. The vendors in the packaged vegan foods market must differentiate and innovate their brand value, product portfolio, and pricing to sustain the competition and attain a competitive edge in the market.

Key vendors in this market are -

• Amy's Kitchen
• Beyond Meat
• Tofutti Brands
• WHITEWAVE FOODS

Other prominent vendors in the market include Annie's Homegrown, Barbara's, Dr. McDougall's Right Foods, Edward & Sons, Follow Your Heart, Louisville Vegan Jerky, Miyoko's Kitchen, Pacific Foods, Tofuna Fysh, and UNILEVER.

Segmentation by product and analysis of the packaged vegan foods market in the US

• Vegan dairy alternatives
• Vegan meat alternatives and ready-to-eat meals
• Vegan bakery and confectionery products

The vegan dairy alternatives segment accounted for the majority market share during 2016 due to the rising consumer preference for vegan dairy alternatives like vegan dairy-free beverages and vegan yogurt. The rising preference for low-calorie and high-protein soy milk influenced by its nutritional benefits will have a positive impact on the market segment's growth.

Segmentation by distribution channel and analysis of the packaged vegan foods market in the US

• Supermarkets and hypermarkets
• Natural and organic food stores

Supermarkets and hypermarkets are the major distribution channels for packaged vegan foods in the US due to the growth and improvement of the organized retail sector in the US. The influx of customers in supermarkets and hypermarkets will continue to increase during the projected period due to the convenience of shopping, increased visibility, and the availability of wide variety of vegan foods that are not easily available in other stores.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the packaged vegan foods market in the US?
• What are the key market trends impacting the growth of the packaged vegan foods market in the US?
• What are the challenges to market growth?
• Who are the key vendors in the packaged vegan foods market in the US`?
• What are the market opportunities and threats faced by the vendors in the packaged vegan foods market in the US?
• What are the trending factors influencing the market shares of the US?
• What are the key outcomes of the five forces analysis of the packaged vegan foods market in the US?

Technavio also offers customization on reports based on specific client requirement.

Packaged vegan foods are plant-based packaged food products prepared without the use of any ingredients or products derived from animals, including but not limited to meat, fish, and poultry products, dairy products, and honey. This upcoming market research report on the packaged vegan foods in the US market is an integral part of Technavio's food and beverage portfolio and offers key insights into the market space for food products. Technavio's insightful market research reports also offer insights on the market size, forecast, trends, and industry analysis to help clients build operative growth strategies.

This upcoming market research report on the packaged vegan foods in the US market also covers vendors Beyond Meat, Tofutti Brands, The WhiteWave Foods Company, and Amy's Kitchen. By considering the increasing demand, market forecast, and market size, for various food products and services, the market research professionals at Technavio offer a clear picture of the packaged vegan foods in the US market for the projected period of 2017 to 2021. Additionally, our research practices also help clients to keep up with the constantly changing market landscape and develop effective growth strategies. Also, based on the interpretation of the information gathered from specific resources such as channel partners and market stakeholders, this market study offers a complete analysis of the market's competitive landscape.

This market research report on the packaged vegan foods in the US market also takes into account the growth of related markets like macadamia, which are anticipated to post an impressive CAGR of more than 3% during the forecast period. According to our analysts, growing concerns toward animal cruelty and welfare may influence the demand for packaged vegan food in the US market.

The upcoming industry report on the packaged vegan foods in the US market also offers insights into fast-growing segments within the food and beverage industry, including sectors like food, food service, and non-alcoholic beverages. Additionally, the report also presents insights into the changing competitive landscape and gives clients a realistic picture of the future direction of the industry.

Technavio also offers clients the option to customize every report to suit their specific requirements and offers attractive discounts on all upcoming reports and future purchases.