Vegan Pasta Market Projected to Record Highest CAGR 9% by 2021 to 2029

The vegan pasta market is on a pace to grow ~9% annually through 2029, propelled in bulk by the global rise in vegan and plant-based eating with astounding stats. Affluent millennial in particular has been the central driver of the worldwide shift away from consuming animal-based products – giving a boost to the demand for vegan pasta in the fast growing global F&B industry.

In 2019, worldwide sales of vegan pasta, contributed by both conventional and organic variants, are estimated to reach a value of ~US$ 136 Mn. Demand for conventional vegan pasta continues to ride on wider availability, and its relatively low cost has made it the product of choice among consumers.

Key Takeaways from the Vegan Pasta Market Study

• The steady demand for conventional vegan pasta is likely to suffer with upsurge in the popularity of organic food products.
• Organic vegan pasta will fare much better in line with increased emphasis on good health and growing incidences of food adulteration.
• Wheat has long remained the preferred source or primary ingredient for traditional pasta, and continues to capture substantial share in the new vegan pasta space.
• Certain limitations or adverse effects of wheat including gluten intolerance are likely to compelled manufacturers to explore other sources to offer gluten-free options.
• FMI reports that demand for legumes and fava beans as a source of vegan pasta will increase with striking CAGR of ~12% and ~14% respectively through 2029.
• As compared to developing regions, the sales of vegan pasta are envisaged to be higher in the countries of North America and Europe

“As the growth of vegan culture and vegetarianism is expected to be quite strong going forward, vegan pasta will go mainstream with manufacturers centering on extended portfolio and branding their products with nutritional and environmental benefits,” says the FMI analyst.

Get more Insights Analysis on this Vegan Pasta Market@ https://www.futuremarketinsights.com/reports/sample/rep-gb-10641

Product Innovation Focused on Healthier and Sustainable Diets

The vegan pasta market is still at its infancy, with plenty of room for improvement. A variety of vegan pasta is likely to hit the shelves in the near future, as manufacturer prioritize ‘organic’ and ‘gluten-free’ aspects to ensure higher product quality and nutritional benefits.

• Traditional pasta companies as well as many startups are set to capitalize on the steadily expanding market.
• Barilla stays ahead in the game with the launch of one-ingredient legume pasta, made with just chickpeas and red lentils, in September 2018.

Veganism as a concept is practically unknown in remote areas and certain cities in developing countries, signifying a relatively low growth prospects of vegan pasta market in regions such as South Asia and Middle East & Africa. The scenario may change in the next ten years on the account of macro factors including internet penetration, which has been fueling the unification of media and food culture.

Find More Valuable Insights on Vegan Pasta Market

Future Market Insights, in its new offering, brings to fore an unbiased analysis of the global vegan pasta market, presenting historical demand data (2014-2018) and forecast statistics for the period, 2019-2029. The study divulges compelling insights on the vegan pasta market on the basis of category (fresh and dried), nature (organic and conventional), source (wheat, rice, legumes, buckwheat, oats, and others), product (penne, spaghetti, elbows, fettuccine & linguine, and filled pasta), packaging (boxes, trays, packets, and pouches), and distribution channel (direct and indirect) across seven major regions.

Ask More About This Report@ https://www.futuremarketinsights.com/ask-question/rep-gb-10641

Vegan Pasta Market – Key Research Findings

1. The global vegan pasta market in 2019 is estimated to be valued at ~ US$ 136 Mn.
2. The vegan pasta market is anticipated to grow at a CAGR of ~ 9% during the forecast period of 2019-2029.
3. The demand for organic certified vegan pasta products is high as compared to the conventional vegan pasta that is available in the market.
   • The penetration of organic vegan pasta is relatively low than the conventional variants. However, among vegan products that are available in the market, the organic certified vegan pasta is consumed more than the conventional one.
   • Manufacturers are also focusing on receiving certifications for both, due to ongoing changes in consumers’ demand. Most of the products that are launched in the recent times that are certified vegan also contain organic certification.
4. North America has a high share in the consumption and production of vegan pasta. The consumption is also high in Europe. But the vegan pasta market in North America has high growth rate, and market consolidation in the region will remain key to gaining distinct competitive edge.
   • In South Asia, the vegan food market has not penetrated as much as in developed countries and this regional market is expected to have low growth rate for the upcoming years.
5. As the vegan pasta market is in its introductory phase in most of the countries of the globe, there is high opportunity to grow in this market and the manufacturers are continuously launching new products to cater to the changing demands of the consumers.

About FMI

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

Contact

Mr. Abhishek Budholiya

Unit No: AU-01-H Gold Tower (AU), Plot No: JLT-PH1-I3A,

Jumeirah Lakes Towers, Dubai,

United Arab Emirates

MARKET ACCESS DMCC Initiative

For Sales Enquiries: sales@futuremarketinsights.com

For Media Enquiries: press@futuremarketinsights.com

Website: https://www.futuremarketinsights.com

The post Vegan Pasta Market Projected to Record Highest CAGR 9% by 2021 to 2029 appeared first on Industry News Analsis.

The vegan pasta market is on a pace to grow ~9% annually through 2029, propelled in bulk by the global rise in vegan and plant-based eating with astounding stats. Affluent millennial in particular has been the central driver of the worldwide shift away from consuming animal-based products – giving a boost to the demand for vegan pasta in the fast growing global F&B industry.

In 2019, worldwide sales of vegan pasta, contributed by both conventional and organic variants, are estimated to reach a value of ~US$ 136 Mn. Demand for conventional vegan pasta continues to ride on wider availability, and its relatively low cost has made it the product of choice among consumers.

Key Takeaways from the Vegan Pasta Market Study

• The steady demand for conventional vegan pasta is likely to suffer with upsurge in the popularity of organic food products.
• Organic vegan pasta will fare much better in line with increased emphasis on good health and growing incidences of food adulteration.
• Wheat has long remained the preferred source or primary ingredient for traditional pasta, and continues to capture substantial share in the new vegan pasta space.
• Certain limitations or adverse effects of wheat including gluten intolerance are likely to compelled manufacturers to explore other sources to offer gluten-free options.
• FMI reports that demand for legumes and fava beans as a source of vegan pasta will increase with striking CAGR of ~12% and ~14% respectively through 2029.
• As compared to developing regions, the sales of vegan pasta are envisaged to be higher in the countries of North America and Europe

“As the growth of vegan culture and vegetarianism is expected to be quite strong going forward, vegan pasta will go mainstream with manufacturers centering on extended portfolio and branding their products with nutritional and environmental benefits,” says the FMI analyst.

Get more Insights Analysis on this Vegan Pasta Market@ https://www.futuremarketinsights.com/reports/sample/rep-gb-10641

Product Innovation Focused on Healthier and Sustainable Diets

The vegan pasta market is still at its infancy, with plenty of room for improvement. A variety of vegan pasta is likely to hit the shelves in the near future, as manufacturer prioritize ‘organic’ and ‘gluten-free’ aspects to ensure higher product quality and nutritional benefits.

• Traditional pasta companies as well as many startups are set to capitalize on the steadily expanding market.
• Barilla stays ahead in the game with the launch of one-ingredient legume pasta, made with just chickpeas and red lentils, in September 2018.

Veganism as a concept is practically unknown in remote areas and certain cities in developing countries, signifying a relatively low growth prospects of vegan pasta market in regions such as South Asia and Middle East & Africa. The scenario may change in the next ten years on the account of macro factors including internet penetration, which has been fueling the unification of media and food culture.

Find More Valuable Insights on Vegan Pasta Market

Future Market Insights, in its new offering, brings to fore an unbiased analysis of the global vegan pasta market, presenting historical demand data (2014-2018) and forecast statistics for the period, 2019-2029. The study divulges compelling insights on the vegan pasta market on the basis of category (fresh and dried), nature (organic and conventional), source (wheat, rice, legumes, buckwheat, oats, and others), product (penne, spaghetti, elbows, fettuccine & linguine, and filled pasta), packaging (boxes, trays, packets, and pouches), and distribution channel (direct and indirect) across seven major regions.

Ask More About This Report@ https://www.futuremarketinsights.com/ask-question/rep-gb-10641

Vegan Pasta Market – Key Research Findings

1. The global vegan pasta market in 2019 is estimated to be valued at ~ US$ 136 Mn.
2. The vegan pasta market is anticipated to grow at a CAGR of ~ 9% during the forecast period of 2019-2029.
3. The demand for organic certified vegan pasta products is high as compared to the conventional vegan pasta that is available in the market.
   • The penetration of organic vegan pasta is relatively low than the conventional variants. However, among vegan products that are available in the market, the organic certified vegan pasta is consumed more than the conventional one.
   • Manufacturers are also focusing on receiving certifications for both, due to ongoing changes in consumers’ demand. Most of the products that are launched in the recent times that are certified vegan also contain organic certification.
4. North America has a high share in the consumption and production of vegan pasta. The consumption is also high in Europe. But the vegan pasta market in North America has high growth rate, and market consolidation in the region will remain key to gaining distinct competitive edge.
   • In South Asia, the vegan food market has not penetrated as much as in developed countries and this regional market is expected to have low growth rate for the upcoming years.
5. As the vegan pasta market is in its introductory phase in most of the countries of the globe, there is high opportunity to grow in this market and the manufacturers are continuously launching new products to cater to the changing demands of the consumers.

About FMI

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

Contact

Mr. Abhishek Budholiya

Unit No: AU-01-H Gold Tower (AU), Plot No: JLT-PH1-I3A,

Jumeirah Lakes Towers, Dubai,

United Arab Emirates

MARKET ACCESS DMCC Initiative

For Sales Enquiries: sales@futuremarketinsights.com

For Media Enquiries: press@futuremarketinsights.com

Website: https://www.futuremarketinsights.com

The post Vegan Pasta Market Projected to Record Highest CAGR 9% by 2021 to 2029 appeared first on Industry News Analsis.