Vegan Pasta Market Trends, Key-Growth Drivers, Opportunities, Outlook Analysis to 2027
Author : kailas wagh | Published On : 14 Oct 2021
Vegan is a type of vegetarian diet that provides nutrition without the use of animal products and their end products such as eggs, milk, cheese, fat, meat, stock, caviar, and roe. The vegan diet excludes eggs, meat, dairy, and all other animal-derived products such as collagen, honey, and gelatin. Consumption of vegan food has many potential benefits such as low cholesterol level, anxiety & stress-inducing hormones such as cortisol and adrenaline, and insulin. This is changing consumer perception toward animal-derived products and further fueling the growth of the vegan food market.
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The trend of veganism has gained traction over the past few years, manufacturers of food & beverage industries are focusing on tapping this opportunity to increase their sales, by reinventing their product. Pasta being the most preferred convenient food is also gaining traction in its vegan segment. Several popular brands have started offering various types of vegan pasta, boosting the growth of the global vegan pasta market further. Initially, the growth of vegan pasta was high in developed regions like North America and Europe. But now, developing countries have also started to show ample lucrative opportunities. The brands are selling their vegan pasta at the all-vegan section of retail stores like Costco, Whole Foods, and Walmart. Also, certifications on the labels of food products help the consumers to get an insight about the product being vegan. Although the vegan pasta market is at its infancy stage, still vegan pasta market is expected to see growth during the forecast period.
COVID-19 Scenario Analysis:
It is predicted that the COVID-19 outbreak will benefit the vegan industry.
Due to an increase in veganism, there is an expected rise in the demand for plant-based food items.
People are motivated to move away from meat due to diseases driven by animal-based products.
Due to the health benefits of the vegan diet, especially its capability to boost the immunity will drive the consumers towards the consumption of vegan products, in the COVID-19 pandemic situation.
But, disruption in the supply chain is still a major challenge, faced during COVID-19, by the suppliers.
Top Impacting Factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
Rise in trend of veganism, rapidly changing lifestyle, consumers' inclination toward a healthy diet, availability of a wide range of vegan pasta, less preparation time, and vegan pasta being high quality and healthier product stimulate the growth of the vegan pasta market.
Although increase in competition due to the entrance of many players, vegan pasta being a premium product with a high price can hamper the market growth for the vegan pasta. Along with this lack of awareness regarding vegan products and their health benefits also slows down the growth of the vegan pasta market, globally.
However, an increase in number of consumers who are preferring vegan food, changes in eating behavior of consumers toward healthier food, penetration of internet as a distribution channel, and rise in awareness about vegan products propel the growth of the global vegan pasta market. In addition, innovation in vegan food products, the advent of new different types of pasta in the vegan segment, and improved marketing strategies are few other opportunities that drive the global vegan pasta market growth.
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