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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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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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.
Key Benefits of the Report:
- This study presents the analytical depiction of the global vegan pasta industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global vegan pasta market share.
- The current market is quantitatively analyzed to highlight the global vegan pasta market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global vegan pasta market analysis based on competitive intensity and how the competition will take shape in coming years.
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