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One
of the major driving factor of packaged vegan food is the health
benefits that it offers such as it helps to avoid diseases like heart
attack and diabetes. The vegan diet does not include anything of
animal product thus it is perceived to be healthier and hence is
preferred over meat. The packaged vegan food are prepared using plant
based ingredients that provide phytochemicals. These phytochemicals
help in boosting protective enzyme in the body. Moreover in place of
dairy products and meat, one can consume nuts and whole grains which
help in improving the cardiovascular health. Consuming a low fat
vegan diet helps in reducing the risk of obesity, lung cancer, gall
stones, osteoporosis, gout, colon cancer and breast cancer. Another
driving factor for the packaged vegan food in the market is growing
concern toward animal welfare and cruelty. Animal activists are
fighting worldwide against animal cruelty in the dairy and meat
industries which is one of the motivational factor for the people to
turn vegan. Increased focus on environmental pollution is also a main
factor more consumers being inclined for packaged vegan foods.
Researches
indicate that over 51% of global greenhouse gas emissions are caused
by animal agriculture. The animal excrements emits gases which
include hydrogen sulfide, nitrous oxide, methane and ammonia. Ammonia
and hydrogen sulfide poisons the air while nitrous oxide and methane
are the main contributors for global warming.
The
major challenge that the packaged
vegan food market faces is the lack of definitive regulations
associated with vegan food labelling. However, with a standard
definition of vegan foods, the manufacturers and retailers would be
in a position to offer a wider range of vegan products. This would
basically help the consumers in trusting the brands and help in
forming their purchasing decision. In APAC there is no definite law
for vegan food labeling. According to the EU Food Information
Regulation there has been no definite definition for food label with
“suitable vegan”.
Since
vegan diet favors animal rights as a result people are adopting it
because of their ethical concerns toward environment and animal. The
concern for animal welfare have led more people to prefer vegan food.
Thus there is rise in consumption of plant based foods owing to
potential health benefits. Packaged vegan food has found widespread
acceptance among the consumers due to its fitness-conscious western
society and is gradually gaining grounds in developing economies.
Thus as the number of health conscious people are increasing who
prefer to consume non-dairy beverages due to nutritional profile and
also due to lactose intolerance leading to wide market opportunity of
packaged vegan products market.
Packaged
vegan food markets is segmented based on type. This are basically
vegan dairy alternatives, packaged vegan meals and meat alternatives,
vegan bakery and confectionery products and other packaged vegan
foods. Whereas packaged vegan dairy alternatives segment dominates
the market as because it is readily available in supermarkets and
other specialty health food stores. The demand for flavored vegan
dairy alternatives is rising gradually due to the demand for tasty,
nutritious and lactose free product worldwide.
Geographically
the market is bifurcated into Europe, North America, Asia Pacific,
Middle East and Africa and Latin America.
The
key players of packaged vegan food market are Amy’s Kitchen, Beyond
Meat, Plamil Foods, Tofutti Brands and WhiteWave Foods among others.
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