Different styles and varieties of products are launched to attract new consumers and provide unique experiences to the users. This factor has prompted companies to innovate and launch new products in the market. Growing acceptance of vegan products among the younger population contributes to market growth. Non-dairy milk products composed of soy, coconut, and almond are becoming popular among consumers. The rising demand for meat substitutes and alternative dairy products from consumers is expected to boost the product adoption. The rise in CAGR is attributable to this market’s demand and growth, returning to pre-pandemic levels once the pandemic is over. Based on our analysis, the global market exhibited a higher growth of 12.95% in 2020 as compared to the average year-on-year growth during 2017-2019. The global impact of COVID-19 has been unprecedented and staggering, witnessing a positive impact on demand across all regions amid the pandemic. The global vegan food market size was USD 23.31 billion in 2020 and is projected to grow from USD 26.16 billion in 2021 to USD 61.35 billion in 2028 at a CAGR of 12.95% during the 2021-2028 period.

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