(Entertainment-NewsWire.com, December 21, 2017 ) The Asia Pacific Packaged Vegan Food Market was worth USD XX billion in 2016 and estimated to be growing at a CAGR of XX%, to reach USD XX billion by 2021. Consumers converging on cutting down animal based dairy products have started favouring packaged vegan food. Packaged vegan food is prepared deprived of the use of any animal based ingredients ensuing in low fat and cholesterol. Growing number of people are now a days turning vegan because of their love and consideration toward animals and the environment.
Since vegan diet favours 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.
The growth of the Asia-Pacific Packaged Vegan Food Market is mainly driven by the health benefits offered such as the avoidance of diseases like heart attack and diabetes and boosting protective enzymes in the body and the growing concern towards animal welfare and cruelty. However, the growth of the market is restrained by the lack of definitive regulations associated with vegan food labelling.
The Asia Pacific region is geographically segmented into China, India, Japan, South Korea, and Australia. Asia-Pacific is predicted to grow with the highest CAGR during the forecast period. Factors such as growing consumption coupled with the rapid growth in distribution channels are anticipated to lead the growth of the market in this region.
The major players operating in the Global Packaged Vegan Food market include Amy’s Kitchen, Beyond Meat, Plamil Foods, Tofutti Brands and WhiteWave Foods among others.
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