Global Vegan Pasta Market: Overview
The global vegan pasta market is set to chart a robust growth rate over the forecast period of 2019 to 2027. Transparency Market Research notes that a number of new avenues would present themselves over this period, and players would try to leverage these along with B2C sales channels. A major focus of players in the market would be to tap into specialty stores for expansion purposes.
It is also quite pertinent to note here that the trajectory will take a higher curve over the forecast period owing to a number of prominent factors. One of the most significant one is increase in number of people moving away from animal-based products.
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Global Vegan Pasta Market: Competitors Landscape
The global vegan pasta market is witnessing a number of notable developments in its vendor landscape, which is both fragmented and competitive. Players take several measures to grow and this is also contributing to growth in the market.
- Barilla Group
- Bionaturae LLC.
- TreeHouse Foods Inc.
- Windmill Organics
- Dakota Growers Pasta Co.
- George DeLallo Company
- Seggiano, Schnitzer
- Pastificio Lucio Garofalo S.p.A.
- MXO Global, Inc. (Tolerant Organics)
Some of the most commonly used strategies to lay claim to a notable market share include a mix of organic and inorganic moves such as key alliances and product development. Technology advancement, innovation, and product portfolio diversification are quite significant in the global vegan pasta market. Better products with healthier ingredients are hitting the market every now and then.
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Global Vegan Pasta Market: Key trends and drivers
The global vegan pasta market is growing steadily at the back of numerous growth factors. A glimpse into the same is outline below:
- Moral ethics are also driving consumers away from animal-based products. As awareness regarding cruelty to animals arises along with a feeling of wrong done by killing another animal for food, the demand for plant-bases products is witnessing an upward facing growth curve. Here, it is significant to note that veganism is also widely promoted by social media influencers such as A Shooting Star and the Yoga Girl. It is also quite pertinent to note here that these have hundreds of millions of followers online who are getting inspired every day.
- Environmental concerns are driving up demand for vegan products, food and otherwise. Animal rearing and meat processing industry is known to impact natural resources like air and water negatively by its heavy consumption and release of methane. In a day, an average ruminant produces somewhere about 250 to 500 liters of gas. This is set to drive the conscious and aware millennial populace towards vegan product, helping the global vegan pasta market grow substantially.
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Global Vegan Pasta Market: Regional Analysis
Regions that are anticipated to chart an impressive growth over the forecast period stated above are Europe and North America. It is quite pertinent to note here that despite being meat eating nations traditionally, the number of people opting for vegetarianism and veganism is huge and growing each year. In the United Kingdom, a pre-dominantly meat-eating country, about 150,000 people called claimed themselves to be vegan in the year 2014 and about 600,000 people claimed to be vegans in the year 2019. This comes to about 1.16% of the population in the country. A similar scenario is also noted in the United States of America. Asia-Pacific will lead market players to new and lucrative growth opportunities.