Analysis of Plant Based Pasta market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
According to latest research by Fact.MR, plant based pasta market is set to witness steady growth 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. Demand for plant based pasta will witness growth in the coming years, owing to consumers’ shifting to gluten free food products for maintaining healthy diet and protein intake. Increasing number of health conscious consumers across the globe are expected to drive plant based pasta demand.
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Plant based products offers lucrative opportunity in the foreseeable years. Additionally, increasing awareness related to the impact of animal-based products on the environment is further expected to support the growth of plant based pasta market. In last few years, consumers are becoming more health-conscious and are therefore switching to plant based products.
Plant based pasta has gained traction, as they provide the similar texture of pasta with enormous health benefits. Similarly, the trend of plant based products is upwelling the plant based pasta sale, which in turn has been compelling plant based pasta manufacturers to expand their distribution footprint and innovate their product offerings. For instance, several brands are introducing plant based pasta in different type including penne, filled pasta among others. These key factors will assist the plant based pasta sales.
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Plant based pasta sales has witnessed a downfall during the pandemic, owing to disruption in the supply chain of several specialty food products. During the pandemic, the market observed significant reduction in plant based pasta sales due to halt in raw material supplies. Additionally, consumers started moving towards essentials food products rather than specialty food products. This in turn, shrunk the plant based pasta sales amid the pandemic. However, in the second quarter of 2020, plant based pasta demand steadily picked the pace, owing to consumer shift towards plant based product to reduce the food allergy spread from animal based food products.
Post COVID-19, the market is anticipated to witness higher growth as compared to historical period, owing to increasing popularity and awareness regarding the health benefit of the plant based products.
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In last few years, North America showcased rapid growth in plant based pasta demand, owing to growing number of health conscious consumers. The U.S. observed reduction in demand for animal based food product in past few years due to increasing number of food allergies. According to ValuePenguin, Washington D.C. is one of the top health conscious states. Additionally, plant based pasta market in US and Canada carries well established distribution channel, which in turn improves the accessibility of the product in both countries.
Apart from this, North America witnessed rapid increase in plant based pasta sales as majority of consumers turned vegan in order to practice sustainable food habits. For instance, in 2020, 7.5% of millennials and Gen Z have given up meat. Furthermore, U.S. and Canada are anticipated to be the fertile ground during the forecast period.
Similar to their North American counterpart, European countries are also keen towards sustainable food products with similar health benefits. Some of the European countries including Germany, U.K, Italy, and Spain are witnessing significant reduction in the non-vegetarian food sales, owing to increasing adoption of vegan lifestyle. For instance, according to Green Queen Media, around 2.6 million people in Europe turned vegan, which is comparatively double growth in last four years. Additionally, Europe plant based pasta market carries variety of manufacturers offering expanded product line of plant based pasta.
Some of the leading manufacturers of plant based pasta include
Some of the suppliers of plant based pasta in China includes
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
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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The plant based pasta market is projected to progress at a CAGR of 11% during the forecast period.
Since plant based pasta has become additionally popular and offers a comparable texture to spaghetti while offering significant health advantages, the market is expanding.
Manufacturers are anticipated to find the most opportunities in North America.
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