According to a recent report by Future Market Insights, a
market research and competitive intelligence provider, the vegan
pasta market is estimated to reach a value of USD 416.7 Mn by 2032,
surging at 9% CAGR through the decade.
Veganism’s growing popularity, consumers’ preference for a
healthy diet, rapidly changing lifestyles, less preparation time, the
availability of a diverse range of vegan pasta, and vegan pasta’s status as a
high-quality and healthier product all contribute to the market’s expansion.
Despite the fact that competition has increased due to the
entry of many new players, the fact that vegan pasta is a premium product with
a high price can stifle market growth for vegan pasta. This misunderstanding of
vegan products and their health benefits also stifles the global expansion of
the vegan pasta market.
The global vegan pasta market, on the other hand, is
expanding due to an increase in the number of consumers who prefer vegan food,
changes in consumer eating habits toward healthier foods, internet penetration
as a distribution channel, and increased awareness about vegan products. In
addition, the introduction of new types of vegan pasta, as well as improved
marketing strategies, are some of the other opportunities fueling the global
vegan pasta market growth.
Key Takeaways from Market Study
- The
global vegan noodle market is expected to be dominated by China. Vegan
foods, vegan ingredients, and vegan noodles are becoming increasingly
popular among consumers in the country.
- The
growing vegetarian population in India is expected to drive the growth of
the vegan pasta market in the coming years.
- As
the number of consumers increases in the United States, online retailers
make appealing offers such as discounts and free delivery schemes to
reduce the hassle of shopping, thereby increasing demand for vegan pasta.
- Brazil
remains one of the most prominent vegetarian nations. This is expected to
increase market demand for vegan pasta in the country.
- In
the United Kingdom, a predominantly meat-eating country, approximately
160,000 people declared themselves vegan in 2017, with an additional
700,000 declaring themselves vegan by 2021. Veganism has grown in
popularity over the years, so the market is expected to expand during the
forecasted period.
“Pasta, the most popular convenient food, is becoming
more popular in the vegan market. Several well-known brands have begun to offer
various types of vegan pasta, accelerating the global vegan pasta market’s
growth,” says a Future Market Insights analyst.
Competitive Landscape
Key players in the vegan noodles market are focusing their
efforts primarily on emerging countries, which offer numerous lucrative
opportunities for the vegan noodles market. The major players in the vegan
noodles market are constantly introducing new products that are tasty and come
in a variety of flavours.
- Barilla
acquired Catelli, a Canadian company, in February 2021. The company’s dry
pasta plant in Montreal is included in the acquisition (Quebec).
Some of the key players in the vegan noodles market include
Cece’s Veggie Co., Nissin Food Products Co. Ltd., Myramen Inc., Dr. McDougall’s
Right Foods, Lotus Foods Inc., House Foods America Corporation, Barilla G. e R.
F.lli S.p.A, Nongshim America, Inc., and Marzetti Company.
Explore More Valuable Insights
Future Market Insights, in its new report, offers an impartial
analysis of the global vegan pasta market, presenting historical data
(2017-2021) and estimation statistics for the forecast period of 2022-2032.
The study offers compelling insights based on category
(Fresh, Dried) nature (Organic, Conventional) source (Wheat, Rice, Legumes,
Buckwheat, Oats, Others (Fava Beans, Quinoa, etc.)) product (Penne, Spaghetti,
Elbows, Fettuccine & Linguine, Filled Pasta, Others (Angel Hair, Farfalle,
etc.)) packaging (Boxes, Trays, Packets & Pouches) distribution Channel (Direct
(B2B), Indirect (B2C), Hypermarkets/ Supermarkets, Convenience Stores, Discount
Stores, Food and Drink Specialty Stores, Independent Small Groceries,
E-Commerce (Online Retail)) region (North America, Latin America, Europe, East
Asia, South Asia, Oceania, Middle East and Africa).
Read Full Report: https://www.futuremarketinsights.com/reports/vegan-pasta-market