The global vegan flavors market size is expected to reach US$ 12.7 Bn by the end of 2030. As per FMI study, the vegan flavors market is expected to exhibit positive growth trajectory at 4.8% CAGR between 2020 and 2030.
The vegan, reducetarian and flexitarian population is rising across the globe because of which manufacturers are preferring the use of vegan flavors in processed, snacks, baked and confectionery food products. They are investing in research and development to foster innovations, which would aid in the expansion of the market.
Increasing awareness regarding health and wellness is encouraging consumers to make healthy lifestyle choices. This trend has put vegan flavors and ingredients under the spotlight. As leading companies scramble to capitalize on this opportunity, the market will witness frequent launch of gluten-free, organic, sugar-free, fat-free, and non GMO products.
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The report provides an exhaustive overview of the vegan flavors market. It covers prevailing trends, growth drivers and potential restraints. The impact of various strategies adopted by the key players is studied as well in detail in the report.
Market Segmentation
The global Vegan Flavors market is segmented in detail to cover every aspect of the market and present complete market intelligence to readers.
By Form
- Powder
- Liquid
By Source
- Vegetables
- Fruits & Others
- Fusion
- Herbs & Spice
By Application
- Food Industry
- Processed Food
- Dairy
- Bakery
- Confectionery
- Beverage Industry
- Flavored Drinks
- Energy Drinks
- Fruit Juices
- Pharmaceutical Industry
- Others
By Region
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- MEA
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FAQ ABOUT THE MARKET
- What factors are driving the demand for vegan flavours?Increasing health-concerns among consumers are projected to serve as one of the key drivers for the vegan flavors market growth. The consumer inclination towards natural and plant-based products is increasing across the globe. Growing awareness of animal welfare and popularity of vegan lifestyle are the key factors for driving the vegan flavor market.
- Which application area of vegan flavours is experiencing the highest growth?The demand for vegan and plant-based food products is rising across the globe due to which vegan flavors experiencing highest growth from food industry. The use of vegan flavors is increasing from processed, bakery, dairy, and confectionery food manufacturers.
- Which sectors are companies tapping for new growth opportunities?Vegan flavor manufacturers supplying their products mainly to food and beverage industry but now companies are tapping for new growth opportunities from pharmaceutical, animal feed, personal care, dietary supplement, and tobacco industries.
- What factors are driving the demand for vegan flavours?Increasing health concerns among consumers are projected to serve as one of the key drivers for the vegan flavors market growth. The consumer inclination towards natural and plant-based products is increasing across the globe. Growing awareness of animal welfare and the popularity of vegan lifestyle are the key factors for driving vegan flavor market.
- Which application area of vegan flavours is experiencing the highest growth?The demand for vegan and plant-based food products is rising across the globe due to which vegan flavors experiencing highest growth from the food industry. The use of vegan flavors is increasing from processed, bakery, dairy, and confectionery food manufacturers.
- Which sectors are companies tapping for new growth opportunities?Vegan flavor manufacturers supplying their products mainly to food and beverage industry but now companies are tapping for new growth opportunities from pharmaceutical, animal feed, personal care, dietary supplement and tobacco industries.