Vegan products are taking over the meat and dairy market by storm, with demand for nutritionally competitive vegan meat and dairy products gaining impetus with every passing year.
With scientists highlighting the positive effect of vegan lifestyle on ones own health and the environment, its safe to say veganism is here to stay. Heres what industry insiders say about the vegan industry and growth strategies adopted by top market players.
With scientific research establishing a deeper connection between diet, health, and environment; demand for vegan alternatives has increased exponentially. The frozen dessert segment has been one of the biggest beneficiaries of this trend. Top market players are increasingly making moves to introduce vegan ice-cream options to capture maximum market share. For instance, Froneri, an ice cream manufacturer, owned by R&R and Nestle, introduced a novel-plant based ice cream range ROAR.
Following increased awareness of the detrimental influence of food additives, chemicals, and animal antibiotics on human health, consumers are switching towards vegan protein alternatives. To cater to such demands, Smithfield Plc. recently introduced its Pure Farmland plant-based protein product range.
Likewise, Kelloggs launched its new INCOGMEATO plant-based ground package manufactured with 100% plant protein with 48% less saturated fat.
Collaboration between market players is on the increase as producers work to make vegan food items more accessible. For instance, Subway collaborated with Beyond Meat Burger in order to provide more efficient products and services to their customers.
Industry Insider predicts that both companies and investors involved in the vegan business have backed the right horse, given the expected growth of the vegan food sector. With Europe and North America leading the vegan revolution and collectively holding 65% of the global protein supplement market, according to MarketNgage, a potential strategic advantage is emerging for these regions going forward.
With thanks to Hakimuddin Bawangaonwala of MarketNgage for the input.
Related
Recommendation and review posted by test
