Vegan Toppings Market to Witness Robust Growth – Veganism Trend is Here to Stay
Joining in the celebrations of the World Vegan Day earlier this month, Fact.MR conducted a comprehensive study to find insightful information about the factors boosting or hampering the adoption of plant-based toppings. The trend of veganism has escalated rapidly in the past few years as consumer awareness about the negative impacts of the meat industry on the environment. Vegan toppings are likely to witness high demand, as a majority of food chains and restaurants are introducing vegan food items to cater to the changing food preferences of consumers.
Key Findings of the Vegan Toppings Market:
The Rise of Veganism is Facilitating an Upswing in Demand for Vegan Toppings
A 2010 UN report elucidated how consuming meat and dairy products can have a huge impact on the environment, mentioning it as one of the underlying causes of climate change and global warming. The consumption of plant-based food products has increased significantly over the past few years, as the sales hiked by over 8% in 2017 in the United States, according to the Good Food Institute and PBFA (Plant Based Foods Association).
Consumers are becoming more conscious about their dietary intake along with the environmental footprints of the products they consume, which is facilitating a palpable shift towards veganism. Thereby, food companies are capitalizing on the burgeoning demand for vegan substitutes for conventional toppings in wide-ranging food products.
Lactose-intolerant Consumers Prefer the Vegan Toppings
More than 3/5th of the world’s population is lactose intolerant, according to the NIDDK (National Institute of Diabetes and Digestive and Kidney Diseases). Lactose-intolerant consumers are exploring lactose-free substitutes for conventional toppings in food products, generating the potential for a rise in sales of non-daily toppings. Increasing global prevalence of lactose malabsorption is fueling the non-dairy toppings worldwide, which is likely to support the growth of the vegan toppings market.
Food Businesses are Introducing Innovative Types of Vegan Toppings to Attract a Larger End-user Base
A soaring number of vegan consumers, especially the millennial population, are encouraging food businesses to introduce innovative vegan recipes, which replace all the animal-based ingredients by plant-based ingredients. Domino’s Australia recently announced its decision to introduce vegan cheese to its pizza menu to conform to the growing popularity of vegan products in the region. Many other pizza chains, such as Pizza Hut, across various regions, have adopted strategies to introduce vegan cheese toppings for vegan consumers across the world. Conagra Brands, Inc. recently launched vegan coconut and almond milk-based whipped cream products under its brand Reddi-Wip, to cater to the consumers’ demand for plant-based, non-dairy, and vegan toppings.
Regional Overview: European Countries Dominate the Vegan Toppings Market
TRansition paths to sUstainable legume-based systems in Europe (TRUE), a practice-research partnership of research institutes and restaurant industry players in Europe, recently published a report to reveal that meat alternative sector in Europe has witnessed an unprecedented growth of 451% since 2013. A majority of Europeans are adopting vegan lifestyle with growing environmental concerns.
Various campaigns by non-governmental organizations, such as Greenpeace, to reduce meat and dairy productions are making a significant impact on the food industry. Ongoing efforts to promote vegan lifestyles are likely to create a positive business environment for vegan toppings companies in Europe in the foreseeable future.
Upcoming Trends in the Vegan Toppings Market:
Supermarkets and Hypermarkets are Expanding their Vegan Product Range
As veganism is going mainstream, consumers are shifting from meat and dairy products to vegan food products. Changing dietary preferences of consumers are encouraging retail chains to offer plant-based, gluten-free, and vegan food products. Leading retailers are approaching the trend of veganism and growing their range of vegan products to meet the dynamic consumer demand. A majority of vegan food brands and vegan topping products, such as vegan cheese and cream, are cropping up in most supermarket and hypermarket chains across the world, which will influence the upcoming trends in vegan toppings market.
Bakery Industry will Gobble up a Significant Revenue Share in Vegan Toppings Market
The Fact.MR report predicts that the bakery industry will play an instrumental role in growth of the vegan toppings market in the foreseeable future. Leading bakery manufacturers are introducing innovative vegan toppings for baked goods, such as pizzas, cakes, and pastries. Bakery manufacturers and new-edge chefs are introducing unique types in vegan topping to offer more versatile options in bakery products for vegan consumers. With modern bakeries making available a variety of vegan desserts, the demand for different flavors of vegan topping products is likely to hike in the upcoming years.
The information presented here is based on a study by Fact.MR. A sample of the study is available upon request.