The Vegan Sauces Market is set for significant growth by 2031, driven by millennial demand for plant-based foods and key players like Follow Your Heart.
The analysts at Future Market Insights (FMI) followed a multidisciplinary approach during the pandemic to study the growth and development of the Vegan Sauces Market. The report features insights on the current growth dynamics and the major revenue reforms prevailing in the market as of 2020 along with the key takeaways over the forecast period 2021 to 2030.
The idea behind vegan sauce is not only to produce a sauce that is free from meat and dairy ingredients but to also ensure absence of ingredients that may cause health problems such as allergies and side effects. This statement is enough to differentiate between vegan and vegetarian sauces that are often mistook for the same thing. Over the past decade, many variants of vegan and plant based products such as burgers, nuggets, and many more were launched.
These vegan foods tasted and felt similar to the non-vegetarian food items taking the consumers by frenzy. In order to compliment these dishes, vegan sauces were also introduced which at present represent an estimated market size worth over US$ 100 Mn. Vegan foods that require vegan sauce as its complementary serving are expected to witness huge demand for them in the near future, thereby guaranteeing a strong positive growth for the vegan sauce market on the PLC curve.
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In recent years, there has been a global shift in eating patterns of consumers of which the millennial generation has an important part to play. They are one of the key drivers in causing the shift from animal based products to the consumption of plant based food products. In 2019, Forbes reported that more than 50% of millennials around the world are including plant based food products into their diets. Besides that, millennials are the most active generation on social media platforms.
Global Vegan Sauces: Key Players
Some of the key players manufacturing vegan sauces are as follows –
Global Vegan Sauces: Market Segmentation
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Highlights of the Vegan Sauces Market Report:
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.
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The article discusses the growth and trends in the Vegan Sauces Market, focusing on demand and market dynamics.
The market is driven by a global shift towards plant-based foods, particularly among millennials.
Key players include Follow Your Heart, Daiya Foods, and Amy's Kitchen, among others.
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