Global Frozen Vegan Food Market to reach USD 7707.62 million by 2028

The report’s competition tracking data finds that the global top five players approximately hold 31.46% of revenue in 2022.

LEWES, DELAWARE, UNITED STATES, February 9, 2023 /EINPresswire.com/ — Frozen vegan food refers to plant-based food products that are processed and packaged for long-term storage in a frozen state. These products typically include a variety of vegetables, fruits, tofu, plant-based meat substitutes, and other ingredients designed to mimic the texture and taste of traditional animal-based products.

The global market for Frozen Vegan Food was about US$ 4948.49 million in 2022 and is projected to reach a revised size of US$ 7707.62 million by 2028, growing at a CAGR of 7.66% during the forecast period 2022-2028.

Several factors, including increased awareness about the benefits of a plant-based diet, concern for animal welfare, and a growing recognition of the environmental impact of animal agriculture, drive the popularity of frozen vegan food. Additionally, many people find frozen vegan food convenient and easy to prepare, making it a popular choice for busy individuals and families who want to maintain a healthy and sustainable diet.

The trend of frozen vegan food is picking up globally, with a growing number of consumers embracing plant-based diets and seeking more convenient and sustainable food options. However, there are a few regions where the trend is particularly prominent:

>> North America: The United States and Canada have seen a significant increase in demand for frozen vegan food, driven by a growing number of consumers seeking plant-based options for ethical, environmental, and health reasons. The US & Canada market for Vegan Frozen Food is estimated to increase from $ 2,163.27 million in 2022 to $ 3,264.00 million by 2028, at a CAGR of 8.20% during the forecast period of 2022 through 2028.

>> Europe has a long history of plant-based eating and is home to many consumers concerned about sustainability and animal welfare. As a result, the demand for frozen vegan food is growing rapidly in countries such as Germany, the United Kingdom, and France. The Europe market for Vegan Frozen Food is estimated to increase from $ 1,897.12 million in 2022 to reach $ 3,008.92 million by 2028, at a CAGR of 7.99% during the forecast period of 2022 through 2028.

>> Asia: In recent years, Asia has become a major market for frozen vegan food, with countries such as China, Japan, and South Korea seeing a significant increase in demand. This is largely due to a growing middle class and increasing awareness of a plant-based diet’s health and environmental benefits. The China market for Vegan Frozen Food is estimated to increase from $ 390.48 million in 2022 to $ 698.52 million by 2028, at a CAGR of 10.18% during the forecast period of 2022 through 2028.

The Vegan Frozen Food market is segmented by Type (Frozen Vegan Burgers, Frozen Vegan Pizza, Frozen Vegan Rice, and Frozen Vegan Ice Cream) and by Application (Retail and Food Services). Players ( Impossible Foods, Beyond Meat, MorningStar Farms (Kellogg), Tattooed Chef, Amy’s Kitchen, and others), stakeholders, and other participants.

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