Report Overview

United States Vegan Food Market – Industry Trends & Forecast Report, 2031

United States Vegan Food Market size was estimated at USD 18.36 billion in 2024. During the forecast period between 2025 and 2031, United States Vegan Food Market size is projected to grow at a CAGR of 10.2% reaching a value of USD 36.25 billion by 2031. United States Vegan Food Market is driven by rising consumer demand for plant-based diets, increasing environmental awareness, and sustainability concerns. The easy availability of innovative vegan food alternatives also plays a significant role. Health-conscious consumers are shifting towards vegan diets for their perceived benefits, such as weight management and reduced risk of chronic diseases. Additionally, the growing emphasis on ethical and eco-conscious choices, along with advancements in plant-based food technology, further propels the market's growth.

Vegan Food – Overview

Vegan food encompasses plant-based products that exclude animal-derived ingredients. It includes alternatives to traditional dairy, meat, and other animal products, focusing on vegetables, grains, nuts, seeds, and legumes. Popular vegan items include almond milk, tofu, and plant-based burgers. The vegan food market is driven by increasing consumer demand for healthier, more sustainable, and ethically sourced options. It caters to various dietary preferences and health concerns, offering innovative and diverse food choices for those seeking a vegan lifestyle.

United States Vegan Food Market

Growth Drivers

Rising Consumer Demand for Plant-based Diets

United States Vegan Food Market is experiencing significant growth, due to the rising consumer demand for plant-based diets. Health-conscious consumers are increasingly adopting vegan diets for their perceived benefits, such as weight management, reduced risk of chronic diseases, and improved digestion. Additionally, the growing awareness of environmental sustainability and ethical considerations is driving more people to choose plant-based alternatives. This shift in consumer preferences is propelling the market's expansion and encouraging innovation in vegan food products.

Challenges

Higher Production Costs Leading to Premium Pricing

United States vegan food market faces a significant restraint due to higher production costs, which result in premium pricing for consumers. The cultivation of crops, extensive processing, and sophisticated machinery required for plant-based food production contribute to these elevated costs. Additionally, research and development expenses for innovative vegan products further increase the overall production costs. Consequently, these factors lead to higher prices for vegan food products, making them less accessible to price-sensitive consumers.

Impact of Escalating Geopolitical Tensions on United States Vegan Food Market

Intensifying geopolitical tensions among countries across the regions, particularly between United States and China, could significantly impact the growth of United States Vegan Food Market. Trade restrictions, tariffs, and supply chain disruptions may lead to shortages of key ingredients, affecting the production and availability of vegan products. Increased tariffs and import-export barriers can raise costs, resulting in higher prices for consumers. Additionally, geopolitical instability can create economic uncertainty, reducing consumer spending power and affecting market growth. Companies may need to navigate complex regulatory environments and adapt their strategies to mitigate risks associated with geopolitical tensions. Overall, these factors could hinder the market expansion and pose challenges for industry players.

United States Vegan Food Market

Segmental Coverage

United States Vegan Food Market – By Product

By product, United States Vegan Food Market is bifurcated into Dairy Alternatives and Meat Substitutes. The dairy alternatives segment is further subdivided into Almond Milk, Soy Milk, Oat Milk, and Coconut Milk segments. Moreover, the meat substitutes segment is further segmented into Tofu, Tempeh, Seitan, and Plant-based Burgers segments. The dairy alternatives segment holds a significant share in United States Vegan Food Market. The dominance is driven by the high prevalence of lactose intolerance. Within this segment, almond milk leads with a significant market share, followed by soy milk, and coconut milk. Oat milk has seen rapid growth, making it the second most consumed plant milk after almond milk. In the meat substitutes segment, tofu and tempeh are prominent products.

United States Vegan Food Market – By Source

United States Vegan Food Market based on source is divided into Almond, Soy, Oats, and Wheat segments. Almond-based products hold the largest share of United States Vegan Food Market. This dominance is attributed to the versatility of almonds in various applications, such as plant-based milk, yogurts, and snacks, along with their nutritional benefits and consumer preference for their mild flavor and creamy texture. Soy-based products also maintain a significant presence, known for their high protein content and use in items like tofu and plant-based meats. Oat-based products have seen a remarkable rise, particularly in the vegan milk and snack sectors, celebrated for their environmental sustainability and health benefits. Wheat-based products, especially seitan, appeal to consumers seeking meat-like textures in vegan diets.

United States Vegan Food Market – By Distribution Channel

On the basis of distribution channel, United States Vegan Food Market is divided into Supermarkets & Hypermarkets, Convenience Stores, Specialty Stores, and Online Stores segments. The supermarkets & hypermarkets segment is the largest distribution channel in United States Vegan Food Market, due to the wide availability of vegan products, extensive distribution networks, and the convenience of one-stop shopping experiences. Supermarkets & hypermarkets offer a diverse range of vegan food options, catering to the growing demand for plant-based diets. They also provide consumers with easy access to new and innovative vegan products, contributing to the segment's significant market share. The presence of well-established retail chains further enhances the visibility and accessibility of vegan food products.

Competitive Landscape

Major companies operating in United States Vegan Food Market include Beyond Meat, Impossible Foods, Danone North America, Califia Farms, Tofurky, Kite Hill, Miyoko's Creamery, Follow Your Heart, Lightlife Foods, Gardein, and Amy's Kitchen. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Scope of the Report

By Product

• • Dairy Alternatives

1. Almond Milk

2. Soy Milk

3. Oat Milk

4. Coconut Milk

• Meat Substitutes

1. Tofu

2. Tempeh

3. Seitan

4. Plant-based Burgers

By Source

• • Almond

  • Soy

  • Oats

  • Wheat

By Distribution Channels

• • Supermarkets & Hypermarkets

  • Convenience Stores

  • Specialty Stores

  • Online Stores

1. Research Framework
   1. Research Objective
   2. Product Overview
   3. Market Segmentation
2. Executive Summary
3. United States Vegan Food Market Insights
   1. Industry Value Chain Analysis
   2. DROC Analysis
      1. Drivers
         1. Rising Consumer Demand for Plant-based Diets
         2. Increasing Environmental Awareness and Sustainability Concerns
         3. Easy Availability of Innovative Vegan Food Alternatives
      2. Restraints
         1. Higher Production Costs Leading to Premium Pricing
         2. Supply Chain Constraints Affecting Product Availability
         3. Consumer Mistrust of Highly Processed Plant-based Products
      3. Opportunities
         1. Expanding Vegan Product Ranges in Supermarkets and Restaurants
         2. Advancements in Plant-based Food Technology
      4. Challenges
         1. Price Competitiveness with Traditional Animal-based Products
         2. Consumer Price Sensitivity and Inflation Impact
   3. Technological Advancements/Recent Developments
   4. Regulatory Framework
   5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
4. United States Vegan Food Market: Marketing Strategies
5. United States Vegan Food Market: Pricing Analysis
6. United States Vegan Food Market Overview
   1. Market Size & Forecast, 2019–2031
      1. By Value (USD Billion)
   2. Market Share & Forecast
      1. By Product
         1. Dairy Alternatives
            1. Almond Milk
            2. Soy Milk
            3. Oat Milk
            4. Coconut Milk
         2. Meat Substitutes
            1. Tofu
            2. Tempeh
            3. Seitan
            4. Plant-based Burgers
      2. By Source
         1. Almond
         2. Soy
         3. Oats
         4. Wheat
      3. By Distribution Channels
         1. Supermarkets & Hypermarkets
         2. Convenience Stores
         3. Specialty Stores
         4. Online Stores
7. Competitive Landscape
   1. List of Key Players and Their Offerings
   2. United States Vegan Food Market Share Analysis, 2024
      1. Competitive Benchmarking, By Operating Parameters
8. 3. Key Strategic Developments (Mergers, Acquisitions, Partnerships)
9. Impact of Escalating Geopolitical Tensions on United States Vegan Food Market
10. Company Profiles (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, SWOT Analysis)
    1. Beyond Meat
    2. Impossible Foods
    3. Danone North America
    4. Califia Farms
    5. Tofurky
    6. Kite Hill
    7. Miyoko's Creamery
    8. Follow Your Heart
    9. Lightlife Foods
    10. Gardein
    11. Amy's Kitchen
11. Key Strategic Recommendations
12. Research Methodology
    1. Qualitative Research
       1. Primary & Secondary Research
    2. Quantitative Research
    3.  Market Breakdown & Data Triangulation
       1.  Secondary Research
       2.  Primary Research
    4.  Breakdown of Primary Research Respondents, By Region
    5.  Assumptions & Limitations

*Financial information of non-listed companies can be provided as per availability.

**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable.

List of Figures

Figure 1       United States Vegan Food Segmentation                          

Figure 2       United States Vegan Food Market Value Chain Analysis              

Figure 3       Company Market Share Analysis, 2024                  

Figure 4       United States Vegan Food Market Size, By Value (USD Billion), 2019–2031                       

Figure 5       United States Vegan Food Market Share, By Product, By Value, 2019–2031                      

Figure 6       United States Vegan Food Market Share, By Source, By Value, 2019–2031                                                    

Figure 7       United States Vegan Food Market Share, By Distribution Channel, By Value, 2019–2031

Figure 8       United States Vegan Food Market Share, By Product, By Value, 2019–2031

Figure 9       United States Vegan Food Market Share, By Source, By Value, 2019–2031

List of Tables

Table 1         United States Vegan Food Market Size, By Value (USD Billion), 2019–2031

Table 2         United States Vegan Food Market Share, By Product, By Value, 2019–2031                      

Table 3         United States Vegan Food Market Share, By Source, By Value, 2019–2031                                                    

Table 4         United States Vegan Food Market Share, By Distribution Channel, By Value, 2019–2031

Table 5         United States Vegan Food Market Share, By Product, By Value, 2019–2031

Table 6         United States Vegan Food Market Share, By Source, By Value, 2019–2031

Table 7         Beyond Meat Company Overview

Table 8         Beyond Meat Financial Overview

Table 9         Impossible Foods Company Overview

Table 10       Impossible Foods Financial Overview

Table 11       Danone North America Company Overview

Table 12       Danone North America Financial Overview

Table 13       Califia Farms Company Overview

Table 14       Califia Farms Financial Overview

Table 15       Tofurky Company Overview

Table 16       Tofurky Financial Overview

Table 17       Kite Hill Company Overview

Table 18       Kite Hill Financial Overview

Table 19       Miyoko's Creamery Company Overview

Table 20       Miyoko's Creamery Financial Overview

Table 21       Follow Your Heart Company Overview

Table 22       Follow Your Heart Financial Overview

Table 23       Lightlife Foods Company Overview

Table 24       Lightlife Foods Financial Overview

Table 25       Gardein Company Overview

Table 26       Gardein Financial Overview

Table 27       Amy's Kitchen Company Overview

Table 28       Amy's Kitchen Financial Overview