Vegan Ingredients Market Forecast Covering Growth Inclinations & Development Strategies until 2029
Vegan ingredients are any food product or ingredient that does not include any animals or animal-derived products, which is a new attempt at introducing practices that excludes all forms of animal cruelty. The nutritional value of the available vegan ingredients is high in minerals and vitamins. The vegan replacement for meats are said to taste similar to the meat products, in regards to texture and taste. The innovation in vegan ingredients market has been on the rise since the past few years. Innovation in vegan ingredients can be attributed to multiple alternatives that are being researched as a substitute to meat-based products. The replacements are created from plant-based proteins, algae and cellulose flours.
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Vegan Ingredients – Segmentation
Vegan ingredient are classified by ingredient type, claim, end-use applications, sales channel and buyer type. The ingredient type of vegan ingredients is segmented in staple food, specialty food, dairy substitutes, food additives, and nutrients & supplements. In regards to the claim of vegan ingredients, the market is fragmented in GMO, Non-GMO and organic. The end-use of vegan ingredients is segmented in B2B and B2C. The B2B end-use applications of vegan ingredients is further segmented in
food & beverages(bakery, confectionery, functional foods and others), cosmetics & personal care, nutraceuticals and agricultural. The sales channel for vegan ingredients is classified in Direct Sales, Modern Trade, Convenience Store, Specialty Stores, Small Groceries, Online Retail and Other sales Channels. The buyer types for vegan ingredients are segmented in Horeca, food processors & manufacturers and household & residential. The global market for vegan ingredients can be segmented into seven regions: North America, Latin America, Europe, East Asia, South Asia, Oceania and Middle East & Africa.
Vegan Ingredients – The producers and distributors
The key players in the market are the agro-based companies that provide cereal grains. Kellogs provides vegan ingredients under the brand division Morningstar Farms. Beyond Meat, Gardein, Tofurky, Trader Joe’s, Simply Balanced, Sweet Earth Natural Foods and Lightlife are some of the companies that provide meat substitutes with vegan ingredients.
The research report presents a comprehensive assessment of the Vegan Ingredients market and contains thoughtful insights, facts, historical data and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to Vegan Ingredients market segments such as geographies, source, end use application, sales channel, and functionality.
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Vegan Ingredients – Vegan Mark
The demand for vegan ingredients is on the rise with many willingly accepting a drastic lifestyle change. Vegan mark or Vegan label specifies if the raw ingredient or prepared food product is purely plant based or has it existed since the early 90’s. Multiple vegan ingredient labels exist in the market, each label follows a different registration process, different certification type, on-site certification requirements and registration fees. The most prominent label in the North American market is the “Certified Vegan Logo”, provided by Vegan Action/Vegan Awareness Foundation (vegan.org), which has more than four hundred certified companies. These labels, either provided by certification organizations or by the companies themselves, will mark a change in the consumer preference in the market. Companies are advertising about the nutritional value for protein-based vegan ingredients. This has helped vegan ingredients find a place in the shopping list of gym enthusiasts. Despite the popularity of vegan ingredients, their long term impacts are still unknown.
Vegan Ingredients – Plant based meats
With inhumane conditions and ways in the production of meats, mass use of antibiotics and high environmental effects, plant-based meats are a substitute to vegan ingredients. Plant-based meats are one of the faux ingredient products introduced to the market as a substitute to meat, poultry and seafood. Ahimi was introduced as an alternative for ahi tuna because of its meaty taste. Tempeh is a soy substitute introduced as a replacement for chicken like meats. Similarly a new vegan ingredients introduced in the market are plant-based clean meats that taste similar to beef. These replacement meats are setting a trend in the vegan ingredients consumer market. The meats are also being adopted by big conglomerates, such as Burger King which has come up with Impossible Whopper made from vegan meat substitutes provided by Impossible Foods Inc.
The popularity of the vegan ingredients and substitutes is high in North American market. The awareness of vegan ingredients in the Asian countries is slowly rising with increase in availability of replacements in the market.
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