Global Vegan Pasta Market: Overview
The global vegan pasta market is set to chart a robust growth rate over the forecast period of 2019 to 2027. Transparency Market Research notes that a number of new avenues would present themselves over this period, and players would try to leverage these along with B2C sales channels. A major focus of players in the market would be to tap into specialty stores for expansion purposes.
It is also quite pertinent to note here that the trajectory will take a higher curve over the forecast period owing to a number of prominent factors. One of the most significant one is increase in number of people moving away from animal-based products.
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Global Vegan Pasta Market: Competitors Landscape
The global vegan pasta market is witnessing a number of notable developments in its vendor landscape, which is both fragmented and competitive. Players take several measures to grow and this is also contributing to growth in the market.
- Barilla Group
- Bionaturae LLC.
- TreeHouse Foods Inc.
- Windmill Organics
- Dakota Growers Pasta Co.
- George DeLallo Company
- Seggiano, Schnitzer
- Pastificio Lucio Garofalo S.p.A.
- MXO Global, Inc. (Tolerant Organics)
Some of the most commonly used strategies to lay claim to a notable market share include a mix of organic and inorganic moves such as key alliances and product development. Technology advancement, innovation, and product portfolio diversification are quite significant in the global vegan pasta market. Better products with healthier ingredients are hitting the market every now and then.
Global Vegan Pasta Market: Key trends and drivers
The global vegan pasta market is growing steadily at the back of numerous growth factors. A glimpse into the same is outline below:
- Moral ethics are also driving consumers away from animal-based products. As awareness regarding cruelty to animals arises along with a feeling of wrong done by killing another animal for food, the demand for plant-bases products is witnessing an upward facing growth curve. Here, it is significant to note that veganism is also widely promoted by social media influencers such as A Shooting Star and the Yoga Girl. It is also quite pertinent to note here that these have hundreds of millions of followers online who are getting inspired every day.
- Environmental concerns are driving up demand for vegan products, food and otherwise. Animal rearing and meat processing industry is known to impact natural resources like air and water negatively by its heavy consumption and release of methane. In a day, an average ruminant produces somewhere about 250 to 500 liters of gas. This is set to drive the conscious and aware millennial populace towards vegan product, helping the global vegan pasta market grow substantially.
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Global Vegan Pasta Market: Regional Analysis
Regions that are anticipated to chart an impressive growth over the forecast period stated above are Europe and North America. It is quite pertinent to note here that despite being meat eating nations traditionally, the number of people opting for vegetarianism and veganism is huge and growing each year. In the United Kingdom, a pre-dominantly meat-eating country, about 150,000 people called claimed themselves to be vegan in the year 2014 and about 600,000 people claimed to be vegans in the year 2019. This comes to about 1.16% of the population in the country. A similar scenario is also noted in the United States of America. Asia-Pacific will lead market players to new and lucrative growth opportunities.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.