According to Technavio, the Vegan Food Market is projected to grow by USD 29.92 billion between 2023 and 2028, reflecting a strong CAGR of 15.2%. This surge is largely driven by consumers embracing vegan diets for health, ethical, and environmental reasons. The development of new products such as plant-based meat and dairy alternatives is keeping up with this rising demand. However, challenges remain, particularly the lack of standardized regulations, which leads to variations in product quality. Additionally, competition from traditional food sectors adds pressure on vegan food brands to innovate continuously. Nevertheless, consumer awareness and demand for sustainable, cruelty-free food products are expected to drive further growth in this market.

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