Vegan Sauces Market to Expand at a CAGR of over 8%
According to latest research by Fact.MR, vegan sauces market is set to witness steady growth during 2021-2031. Demand for vegan sauces will witness growth in the coming years, owing to increasing adoption of cruelty-free products. Additionally, the predominance of food allergies from animal based products is expected to provide momentum to the consumption of the vegan sauces.
What is Driving Demand for Vegan Sauces?
Evolving end-user demand for eco-friendly vegan products continues to drive demand for vegan sauces. Furthermore, growing awareness regarding adverse impact of consumption of animal based products on the environment continues to drive demand for vegan sauces.
In past few years, the internet is flooded with documentaries and video related to vegan food and animal welfare, which in turn supports the rise of vegan population. Moreover, majority of the vegan population are millennials having high purchasing power. This is encouraging them to consume vegan products including vegan sauces.
Furthermore, consumers are switching to plant based eating patterns, owing to extensive health benefits and environmental friendly properties of plant based products. This in turn has been propelling the vegan sauce sales.
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COVID-19 Impacts Global Vegan Sauces Sales
During the pandemic, vegan sauce market witnessed a lower growth, owing to disruption in raw material supplies and downstream supply chain halt. However, the online sales of vegan sauces were aloft amid the pandemic and stocks emptied in less time due to panic buying of consumers, especially in the first quarter of 2020.
Post Covid, the market is expect to rebound and witness higher growth. Growing popularity of the vegan sauces in the recent past has compelled manufacturers to expand their existing product line by adding more vegan ingredients and flavors. This contributed in driving more demand for the product as vegetarian and non-vegetarian population also switched to vegan sauces for, owing to taste and nutrition content. Increasing adoption of vegan products during COVID-19 supported the market growth of the vegan sauces, owing to enhanced flavor and taste of the vegan food.
US and Canada Vegan Sauces Demand Outlook
North America has been a fertile ground for vegan sauces market. Both U.S and Canada have witnessed rapid growth in the vegan sauces sales, owing to increasing food allergies from animal based food products. Mainly, food allergies are spreading from eggs, fish and shellfish. According to Food Allergy Canada, around 3 million Canadian population registered to have at least one food allergy. Hence there is a substantial rise in consumption of vegan eggs.
The U.S has a large non- vegetarian population and majority of them are suffering from various food allergies. This has compelled the consumers to shift to more sustainable food practices.
With the shift in consumer trends, several vegan sauces manufacturers have started to expand their distribution footprint in the U.S and Canada to address the northward demand of the vegan sauces.
The U.S. vegan market is anticipated to showcase significant growth in the forecast period, owing to increasing vegan population and also easy accessibility of vegan products through various distribution channels. These factors will drive more demand for the vegan sauce in both the U.S and Canada market.
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Europe Demand Outlook for Vegan Sauces
Similar to North American countries, European countries are also adapting the vegan lifestyle. Some of the European countries including Germany, U.K, France, Spain and Italy are facing same issues such as food allergies spreading from animal based food products.
Additionally, consumers are understanding the adverse impact of food obtained from animal on the environment. Foods like milk, honey, egg, meat, pork and others are promoting the carbon footprints. This highlighted the potential of vegan food products, owing to improve health and strength.
Emerging key manufacturers of vegan sauces are also utilizing this opportunity and offering vegan sauces through various distribution channels. It is one of the key factors propelling the growth of Europe vegan sauce market.
Who are the Key Manufacturers and Suppliers of Vegan Sauces?
Some of the leading manufacturers and suppliers of vegan sauces include
- Follow Your Heart
- Meridian Foods Limited
- B&G Foods, Inc.
- Daiya Foods Inc.
- Amy's Kitchen, Inc.
- Litehouse, Inc.
- KENSINGTON & SONS.
- Red Duck Foods, Inc.
- Majestic Garlic
- Bear Pond Farm
Some of the emerging manufacturers of vegan sauces in China includes
Suppliers of vegan in China include
- FUJIYAHONTEN CO.,LTD
- Zhongshan Desly Foodstuffs Co., Ltd.
- V.THAI FOOD PRODUCT CO., LTD.
offering several vegan sauces and flavors.
An Adaptive Approach to Modern-day Research Needs
Vegan Sauces 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 End Use
- Household Consumers
- Hotels, Restaurants and Catering (HoReCa)
- Travel Supplies
By Distribution channel
- Direct Sales
- Retail Sales
- Modern Trade
- Specialty Stores
- Grocery Stores
- 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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