Vegan food is plant-based food preferred by people to evade the use of dairy-based and meat-based ingredients. The demand for vegan food has been increased in recent decades owing to benefits associated with its consumption. The vegan diet does not include anything of the animal product and thus, it is perceived to be healthier and hence is preferred over meat. Vegan food is a rich source of nutrients values and its consumption assists to avoid the risk of various diseases including heart diseases, cancer, diabetes, and premature death.This growth is primarily driven by Health Benefits of Veganism, Growing Concern toward Animal Cruelty and Welfare, Increased Focus on Environmental Protection and Increasing Initiatives by Organizations to Promote Veganism.
Globally, a noticeable market trend is evident Media Buzz and Celebrity Endorsements Promoting Veganism
. Major Vendors, such as Amy's Kitchen (United States), Beyond Meat (United States), Plamil Foods (United Kingdom), Tofutti Brands (United States), WhiteWave Foods (United States), Annie's Homegrown (United States), Barbara's Bakery (United States), Dr. McDougall's Right Foods (United States), Edward & Sons Trading Company (United States) and Galaxy Nutritional Foods (United States) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
On 12 April 2017, Danone announced to acquire WhiteWave Under the terms of the merger agreement. WhiteWave and Danone will now combine their activities in North America to operate as a Strategic Business Unit, named DanoneWave. This acquisition is with an aim to expand and grow the plant-based category around the world.
Recently, Barbara’s Bakery has launched peanut butter puffins. These wheat puffs and crunchy corn are naturally sweetened with molasses. This vegan-friendly cereal only contains 5 grams of sugar and whopping 5 grams of fiber.
In 2011, the European legislator mandated the European Commission to issue an implementing act that sets out which foods are suitable for vegans and vegetarians (Regulation (EU) No 1169/2011).
- Health Benefits of Veganism
- Growing Concern toward Animal Cruelty and Welfare
- Increased Focus on Environmental Protection
- Increasing Initiatives by Organizations to Promote Veganism
- Media Buzz and Celebrity Endorsements Promoting Veganism
- Rise In Consumption of Plant-Based Foods Owing To Potential Health Benefits
- A decline in Global Red Meat Consumption
Lack of Definitive Regulations Associated With Vegan Food Labeling, Nutritional Deficiencies That Can Develop While Following a Vegan Diet and A Threat of Contamination Due To Unhygienic Handling and Storage of Raw Materials
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