Plant Based Breads Market to Expand at a CAGR of over 7%
According to latest research by Fact.MR, plant based breads market is projected to grow at a steady pace during 2021-2031.While the market is set to show recovery from crisis in the mid-term of the projection period, for the long term, demand is expected to showcase higher than the historical growth. Increasing adoption of vegan food products coupled with pervasive trends in thoughtful food habits, clean label ingredients, and health benefits is anticipated to contribute significantly in the plant based bread sales.
What is Driving Plant Based Breads Sales?
In past few years, growing number of vegan population has motivated plant based breads manufacturers to invest in research and development activities, to improve the plant based bread production, imitating the original texture and mouthfeel of normal breads.
For instance, Little Northern Bakehouse has introduced plant based breads with millet and chia loaf, seed and grain loaf, owed to organic bread with protein content. These key factors are supporting the plant based bread demand.
Additionally, manufacturers are creating brand awareness through different means in order to expand their customer base. For instance, Free Bread Inc. has showcased the variety of breads on social media platforms such as, Instagram. This has significantly benefited the plant based breads sales, in last few years, owing to large number of millennial Instagram users.
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COVID-19 Hinder the Global Sales of Plant Based Breads
During the pandemic, plant based bread market witnessed downfall in the sales, owing to disruption in raw material supply, limited distribution channel and altered consumer’s buying behavior. Initially, it is observed that plant based products were remained on the shelf while essentials getting sold out, owing to consumer’s mindful decision on purchasing essentials. This has impacted the plant based bread demand significantly, especially in the first quarter of 2020.
Later, consumers started focusing on plant based food in order to improve the immunity for instance, The World Health Organization (WHO) advices people to eat balanced diet, to strengthen the immune system especially including vegetables and whole grains.
Additionally, companies started investing in retail sector and changed business strategies due to COVID-19 outbreak. For instance, SIMPLE KNEADS, FOOD FOR LIFE and others started offering discount on plant based breads to increase customer base, while expanding stores. Extensive progress in plant based breads demand across the globe is anticipated to normalize the adverse impact of COVID-19 in the coming years.
US and Canada Plant Based Breads Demand Outlook
North America dominates the plant based bread market globally, owing to well-established distribution channel for plant based breads. Additionally, North America is one of the largest producers of bread as majority of the population consider bread as staple food.
With growing number of vegan population in last few years, there is huge demand for plant based breads with similar texture and taste. To address the on-going plant based bread demand, several manufactures have expanded their distribution channel in U.S. and Canada, for instance, Little Northern Bakehouse is a Canadian brand spread across U.S. with covering multiple supermarkets.
Furthermore, plant based bread market is growing at rapid pace due to increasing number of vegan population and health diseases. In 2020, according to VEGANBITS, around 1.6 million of the U.S population is vegan.
Additionally, Canada observed growth in the vegan population as well. In addition to this, consumers are becoming more conscious to the impact of environment due to animal-based products. Hence, demand is likely to leap and bound in the next couple of years with an upsurge in vegan population in U.S and Canada.
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Europe Demand Outlook for Plant Based Breads
Similar to their North American counterparts, European countries are also keen towards eco-friendly food products with similar health benefits. Some of the European countries including Germany, U.K, Italy, and Spain are witnessing significant reduction in the animal based product sales, owing to increasing adaption of vegan food products.
Additionally, crucial factor supporting the Europe plant based breads sales is plant based ingredients. Recently, Europe plant based demand portrayed rapid growth, owing to usage of probiotics in the plant based breads.
The probiotics is gradually providing upward movement in the Europe plant based breads sales, owing to its benefits such as resistant to higher temperature, varying pH levels and longer shelf life. These key factors are offering lucrative opportunity for the Europe plant based bread demand.
Who are the Key Manufacturers of Plant Based Breads?
Some of the key market participants of the key plant based breads are
- Little Northern Bakehouse
- Dave’s Killer Bread
- Food for life
- Silver Hills
- Vermont Bread Company
- Manna Organics
- 365 Everyday Value
- One Degree
- Alvarado Street Bakery
- Angelic Bakehouse
Some of the emerging manufacturers of plant based breads in China includes
- JenDow - Lian Shiang Jai
- Veggie Castle
- Veggie Macau
- Sù Bing Fang
- Tung Fong Siu Kee Yuen
An Adaptive Approach to Modern-day Research Needs
Plant Based Breads Market Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company
By Product Outlook
By Distribution channel
- Direct Sales/B2B
- Indirect Sales/B2C
- Convenience Store
- Specialty Store
- Modern Groceries
- Online Retail
- North America
- US & Canada
- Latin America
- Brazil, Mexico, Others
- Western Europe
- Eastern Europe
- Asia Pacific
- Australia and New Zealand (ANZ)
- Greater China
- Rest of Asia Pacific
- Middle East and Africa
- GCC Countries
- Other Middle East
- North Africa
- South Africa
- Other Africa
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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