New Jersey Vegan Products Industry Overview
The New Jersey vegan products market size was valued at USD 190.2 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 16.1% from 2021 to 2028.
The increasing awareness among millennials pertaining to health benefits offered by the vegan diet and the growing health-conscious population are driving the market. The outbreak of COVID-19 has increased the penetration of online retailers in the food industry, including the vegan food market. Many brands and food manufacturers have been creating a marketplace for consumers to make it contactless and safe in these circumstances. There are various online vegan marketplaces that provide doorstep delivery services in New Jersey.
Gather more insights about the market drivers, restrains and growth of the New Jersey Vegan Products Market
Vegan food emerged as the largest product segment in the market in 2020. Rising awareness regarding various health benefits of consuming plant-based food products has widened the consumer base of this industry. Plant-based products help maintain blood pressure levels and lower the risk of heart disease.
Furthermore, growing awareness regarding animal wellbeing and animal cruelty in the food industry has been encouraging people to shift from animal-based to plant-based food products. According to The Vegan Society, the number of U.S. consumers identifying as vegan grew from 1% to 6% from 2014 to 2017. These products are Googled three times more than gluten-free products.
In addition, manufacturers in the market have introduced a number of quality food items in different flavors with attractive packaging solutions. This is also likely to contribute to market growth. Among such products, plant-based cheese accounts for the largest share among dairy alternatives.
Furthermore, retail stores, grocery shops, and supermarkets & hypermarkets have been increasing shelf spaces for vegan products such as bakery, confectionery, and other snacks as they witness a shift in consumer behavior toward vegan foods and products.
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New Jersey Vegan Product Market Segmentation
Grand View Research has segmented the New Jersey vegan products market on the basis of product and distribution channel:
New Jersey Vegan Product Outlook (Revenue, USD Million, 2016 - 2028)
- Food
- Ready Meals
- Cereal
- Confectionery
- Bakery Products
- Snacks
- Others
- Beverages
New Jersey Vegan Product Distribution Channel Outlook (Revenue, USD Million, 2016 - 2028)
- Offline
- Online
Market Share Insights
- August 2021: General Mills announced the launch of an animal-free dairy cheese brand called Renegade Creamery. The cheeses contain dairy proteins, whey, and casein and are produced using fermentation techniques rather than using animal-derived ingredients. With this initiative, General Mills plans to enter the cheese category.
- December 2020: Aldi announced the opening of a new store in Monmouth Junction.
Key Companies profiled:
Some prominent players in the New Jersey vegan products market include: -
- General Mills, Inc.
- Conagra Brands, Inc.
- The Hain Celestial Group, Inc.
- Blue Diamond Growers
- Eden Foods, Inc.
- Nature's Path Foods
- EcoFarms
- Against the Grain Gourmet
- PACIFIC FOODS OF OREGON, LLC.
- Cereal Partners Worldwide S.A.
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