Albany, NY -- (SBWIRE) -- 07/19/2017 -- The growing acceptance of people toward the several health benefits of vegan diets world over is one of the key factors driving the evolution of the packaged vegan foods market. The rising focus on animal welfare and the mounting concerns toward animal cruelty are prominent trends boosting the uptake of vegan foods containing plants ingredients. A report penned by Transparency Market Research (TMR), titled "Packaged Vegan Foods Market - Global Industry Analysis, Size, Share, Growth, Trends, Forecast 2016–2024", offers an elaborate assessment of these trends and more influencing the growth of the market. The research provides in-depth insights into the current market status, notable trends, innovative product launches, lucrative growth avenues, share and size of major product segments, and competitive landscape.

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The analysis highlights major regulations related to the packaging of vegan foods in various regions and evaluates their impact on the market dynamics. The growing inclination toward vegan foods is stimulated by the largely accepted health benefits of low-fat vegan diets in preventing various cardiac ailments and common lifestyle diseases such as diabetes. Recent scientific studies confirm that a diet rich in whole grains, vegetables, and fruits reduces the risk of cancer and cardiovascular diseases. In various populations world over, packaged vegan foods are increasingly being considered as healthier options than meat and animal-based products. This is a seminal factor boosting the global packaged vegan foods market. The soaring consumer demand for packaged foods for meeting the daily dietary requirements augurs well for the market.

The plant-based ingredients in packaged vegan foods and beverages help consumers increase the intake of phytochemicals that are proven to offer several protective health benefits. This has been a crucial factor catalyzing the growth of the market. In addition, the pressing global concerns about animal cruelty is expected to positively impact the packaged vegan foods market. This is largely attributed to the burgeoning environmental and ecological concerns, which has dissuaded people, especially millennials, toward the consumption of dairy and meat industries.

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Animal agriculture, one of the leading sources of greenhouse gases, is considered to be aggravating environmental pollution, hence discouraged in a number of developing and developed economies. This is a potential factor bolstering the uptake of packaged vegan foods in these markets. However, the lack of standardization in labelling of packaged vegan foods and the lack of definitive regulatory framework in various developed nations are key factors expected to impede the packaged vegan foods market.

Nevertheless, the advent of innovative formulations such as flavored vegan dairy alternatives by manufacturers of packaged vegan foods bodes well for the market in the coming years. Furthermore, the growing number of lactose-intolerant population has become the new target consumers for these formations, thereby opening up lucrative growth avenues for players. Geographically, the market is witnessing exciting opportunities from several developing and developed economies in Asia Pacific, Europe, and North America.

Leading players operating in the packaged vegan foods market include Tofutti Brands Inc., Plamil Foods, WhiteWave Foods, Beyond Meat, and Amy's Kitchen.