Analysis of Vegan Ham 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, vegan ham market is likely to witness significant growth during 2021-2031. Demand for vegan ham will witness positive growth outlook in the long-run. Increasing adoption of cruelty-free products coupled with growing consumer’s inclination for wellness, sustainability and animal welfare is likely to provide momentum to the consumption of vegan ham across the globe.
The days have gone when plant-based alternatives were largely catered to niche consumers that were willing to compromise on taste and texture. Nowadays, consumers throughout the globe are placing amplified emphasis on plant-centric diet.
Thanks to organic, natural and eco-friendly food alternatives as well as organizations creating awareness on animal rights and predominance of allergies from animal-based protein source consumption. In turn, driving the demand for vegan ham and meat in daily dietary. Aesthetic and bodybuilding applications continue to be a lucrative avenue for vegan ham manufacturers.
Extensive health benefits and environment friendly properties are enabling consumers to switch to vegan supplements. Furthermore, vegan ham are being increasingly sought-after to prevent the risk of type-2 diabetes and cardiovascular diseases accompanied with the consumption of meat of domestic pigs.
The demand for vegan ham has witnessed an upsurge in the market as many manufacturers in food and beverages industry have started incorporating vegan ham in increasingly demanded on-the-go fast food products such as hamburgers, pizzas, sandwiches, and bacon appetizers. Owing to its properties to get molded into a variety of textures and flavors, the demand for vegan ham has shown a significant increase and expected to fleet the overall vegan ham market.
The recent COVID-19 outbreak has affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. During the pandemic, vegan ham market witnessed a lower growth owing to disruption in raw material supplies and halt in downstream supply chain.
However, in post Covid, the market is expected to rebound and witness an upsurge in growth with the increasing awareness of health benefits attached with vegan diet. Furthermore, increasing adoption of vegan products during COVID-19 supported the market growth of the vegan ham, owing to its resembling taste and flavor to that of meat and ham.
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North America has been a fertile ground for vegan ham market. US and Canada, both have witnessed a rapid growth in the vegan ham sales, owing to increasing food allergies from animal-based food products and rising awareness on animal rights and safety.
The traditional meat and ham market in United States is facing an adverse effect of COVID-19 pandemic, primarily due to shut down of production units by key manufacturers. However, sale of vegan/plant based ham has shown a significant increase with the continuous dealing through e-commerce platform. Furthermore, North American companies are sprinting to create new vegan products and brands providing resembling taste, aroma and flavor, appealing to health-focused consumers at large.
European countries have been severely impacted by the COVID-19 crisis, which has led to a decline in key economic activities. However, as the plant-based trend has taken hold on major market share, manufacturers have started focusing on production of more health centric products. For instance, McDonald’s Corp.’s UK business unit launched its Veggie Dippers, a first incursion into the vegan space.
The European market for vegan ham is expected to witness fastest growth owing to the government imposed stringent regulations against animal cruelty, throughout the region. This is likely to advantage the existing local manufacturers by opening doors to scale-up their production. Furthermore, Germany, Italy, and France being the most visited tourist destinations in Europe, creating opportunities for vegan ham manufacturers by proving vegan hams incorporated with consumer packaged food products.
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Some of the leading manufacturers and suppliers of vegan ham include
Most of the listed leading manufacturers and suppliers have an e-commerce presence to supply vegan hams directly to end-users by cutting down intermediary costs. At present, the market for vegan hams is highly unorganized. However, increasing importance of plant-based nutrition, positive outlook for the health and fitness industry, and high demand for protein-rich vegan diet are some of the factors which are likely to create huge opportunities for market participants in vegan ham market, in turn, making it one of the most organized market as a source of vegan protein.
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
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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 vegan ham market is estimated to grow at a CAGR of 9% during the forecast period.
The market is climbing since consumers are now emphasizing a diet that is mostly composed of plants more than before.
Manufacturers are anticipated to find the most opportunities in North America.
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