GlobalVegan Pasta Market: Overview
The global vegan pasta market is set to chart a robust growth rate over the forecast period of 2019 to 2027. Transparency Market Research notes that a number of new avenues would present themselves over this period, and players would try to leverage these along with B2C sales channels. A major focus of players in the market would be to tap into specialty stores for expansion purposes.
It is also quite pertinent to note here that the trajectory will take a higher curve over the forecast period owing to a number of prominent factors. One of the most significant one is increase in number of people moving away from animal-based products.
The global vegan pasta market is witnessing a number of notable developments in its vendor landscape, which is both fragmented and competitive. Players take several measures to grow and this is also contributing to growth in the market.
Some of the most commonly used strategies to lay claim to a notable market share include a mix of organic and inorganic moves such as key alliances and product development. Technology advancement, innovation, and product portfolio diversification are quite significant in the global vegan pasta market. Better products with healthier ingredients are hitting the market every now and then.
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The global vegan pasta market is growing steadily at the back of numerous growth factors. A glimpse into the same is outline below:
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Regions that are anticipated to chart an impressive growth over the forecast period stated above are Europe and North America. It is quite pertinent to note here that despite being meat eating nations traditionally, the number of people opting for vegetarianism and veganism is huge and growing each year. In the United Kingdom, a pre-dominantly meat-eating country, about 150,000 people called claimed themselves to be vegan in the year 2014 and about 600,000 people claimed to be vegans in the year 2019. This comes to about 1.16% of the population in the country. A similar scenario is also noted in the United States of America. Asia-Pacific will lead market players to new and lucrative growth opportunities.
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