Study Finds Rapid Gains in Plant-Based Food Spark Demand for Vegan Pasta
The vegan pasta market is on a pace to grow ~9 percent annually through 2029, propelled in bulk by the global rise in vegan and plant-based eating with astounding stats. Affluent millennial in particular has been the central driver of the worldwide shift away from consuming animal-based products—giving a boost to the demand for vegan pasta in the fast growing global F&B industry.
In 2019, worldwide sales of vegan pasta, contributed by both conventional and organic variants, are estimated to reach a value of $136 million. Demand for conventional vegan pasta continues to ride on wider availability, and its relatively low cost has made it the product of choice among consumers.
Key Takeaways from the Vegan Pasta Market Study
- The steady demand for conventional vegan pasta is likely to suffer with upsurge in the popularity of organic food products.
- Organic vegan pasta will fare much better in line with increased emphasis on good health and growing incidences of food adulteration.
- Wheat has long remained the preferred source or primary ingredient for traditional pasta, and continues to capture substantial share in the new vegan pasta space.
- Certain limitations or adverse effects of wheat including gluten intolerance are likely to compelled manufacturers to explore other sources to offer gluten-free options.
- Study reports that demand for legumes and fava beans as a source of vegan pasta will increase with striking CAGR of ~12 percent and ~14 percent respectively through 2029.
- As compared to developing regions, the sales of vegan pasta are envisaged to be higher in the countries of North America and Europe.
“As the growth of vegan culture and vegetarianism is expected to be quite strong going forward, vegan pasta will go mainstream with manufacturers centering on extended portfolio and branding their products with nutritional and environmental benefits,” says the report analyst.
Product Innovation Focused on Healthier and Sustainable Diets
- The vegan pasta market is still at its infancy, with plenty of room for improvement. A variety of vegan pasta is likely to hit the shelves in the near future, as manufacturer prioritize ‘organic’ and ‘gluten-free’ aspects to ensure higher product quality and nutritional benefits.
- Traditional pasta companies as well as many startups are set to capitalize on the steadily expanding market.
- Barilla stays ahead in the game with the launch of one-ingredient legume pasta, made with just chickpeas and red lentils, in September 2018.
- Veganism as a concept is practically unknown in remote areas and certain cities in developing countries, signifying a relatively low growth prospects of vegan pasta market in regions such as South Asia and Middle East & Africa. The scenario may change in the next ten years on the account of macro factors including internet penetration, which has been fueling the unification of media and food culture.
These insights are based on a report on Vegan Pasta Market by Future Market Insights.