The markets for vegan pasta and vegan flour are expected to grow significantly over the next few years, according to reports from Future Market Insights.
The growth in both markets is propelled largely by an increasing preference for plant-based ingredients in food products. Affluent millennials in particular have been the central driver of the worldwide shift away from consuming animal-based products and given a boost to the demand for vegan pasta in the fast-growing global F&B industry.
The Vegan Pasta Market report found that rapid gains in plant-based food products are sparking demand and will push the market to annual growth of around nine per cent through 2032.
In 2019, worldwide sales of vegan pasta products are estimated to reach a value of around US$136 million. The 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.
Organic vegan pasta is predicted to fare much better than conventional vegan pasta, in line with increased emphasis on good health and growing incidences of food adulteration.
While wheat has long remained the preferred source or primary ingredient for traditional pasta and continues to capture a substantial share in the new vegan pasta space, certain limitations such as a shrinking supply are likely to compelled manufacturers to explore other sources to offer gluten-free options. In particular, demands for legumes and fava beans as a source of vegan pasta are forecast to increase with a striking CAGR of 12 per cent and 14 per cent respectively through 2032.
Meanwhile, the Vegan Flour Market report found that total global sales in the vegan flour market are expected to increase at 6.5 per cent CAGR over the forecast period, 6.2 per cent in the North American market, reaching US$2.08 billion by 2032.
Some vegan flours available in the market are brown rice flour, which is being used in sweets and savoury dishes due to its thicker consistency and sweet taste; almond flour, which is a high source of proteins and fibres; and coconut flour, which is used to sweeten up deserts and has a high source of fibre.
Key players in the vegan flour market are focusing on packaging and labelling to enhance shelf life, offering effective packaging solutions that can be resealed easily to protect the flour from getting contaminated and prevent termite attacks and fungi formation.
Key manufacturers of vegan flour are also investing in research & development to offer differentiated products with no chemical components. They are also launching new product lines to penetrate untapped markets.
