The Asia Pacific Packaged Vegan Food Market is predicted to grow at a CAGR of 13.1% from 2024 to 2029 and the market size is expected to be valued at USD 7.31 billion by 2029 from USD 3.95 billion in 2024.
Consumers converging on cutting down on animal-based dairy products have started favouring packaged vegan food. Packaged vegan food is prepared deprived of the use of any animal-based ingredients ensuing in low fat and cholesterol. A growing number of people are nowadays turning vegan because of their love and consideration toward animals and the environment. Since a vegan diet favours animal rights as a result people are adopting it because of their ethical concerns toward the environment and animals. The concern for animal welfare has led more people to prefer vegan food. The growth of the Asia-Pacific Packaged Vegan Food Market is mainly driven by the health benefits offered such as the avoidance of diseases like heart attack and diabetes and boosting protective enzymes in the body and the growing concern towards animal welfare and cruelty. However, the growth of the market is restrained by the lack of definitive regulations associated with vegan food labelling.
Asia-Pacific is predicted to grow with the highest CAGR during the forecast period. Factors such as growing consumption coupled with the rapid growth in distribution channels are anticipated to lead the growth of the market in this region.
Amy’s Kitchen, Beyond Meat, Plamil Foods, Tofutti Brands, White Wave Foods are some of the notable companies in the Asia Pacific Packaged Vegan Food market.
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