Rising demand for allergen-free vegan flavor options in mainstream food categories. States Fact. MR
ROCKVILLE, MD, UNITED STATES, December 11, 2024 /
EINPresswire.com/ -- According to Fact.MR, a market research and competitive intelligence provider, the global
vegan flavor market is estimated to reach a valuation of US$ 9,454.0 million in 2024 and is expected to grow at a CAGR of 4.8% during the forecast period of 2024 to 2034.
The global vegan flavor market is showing significant growth due to the rising demand for allergen-free options in mainstream food categories. As consumer awareness of food allergies and sensitivities increases, there is a growing preference for vegan-based flavors that cater to dietary restrictions. Allergen-free vegan flavors free from common allergens like dairy, nut, and gluten, are gaining traction among health-conscious consumers and those with specific dietary needs.
This is responded to by mainstream food manufacturers through the inclusion of allergen-free vegan flavors in a high variety of products, ranging from snacks and desserts to beverages and ready-to-eat meals. The approach not only deals with safety concerns but also makes taste profiles of allergen-free food offerings more attractive. The trend is further promoted by the advancement of flavor technology, which allows for the creation of authentic and diverse vegan flavor profiles without compromising on quality or taste.
For More Insights into the Market, Request a Sample of this Report:
https://www.factmr.com/connectus/sample?flag=S&rep_id=9562
This shift is driving innovation in the food industry, as brands aim to meet the dual demands of allergen-free and vegan-friendly options, solidifying the position of vegan flavors in the global market.
Key Takeaways from the Market Study
The global vegan flavor market is projected to grow at 4.8% CAGR and reach US$ 15,108.8 million by 2034.The market created an opportunity of US$ 5,654.7 million between 2024 to 2034.
North America is a prominent region that is estimated to hold a market share of 24.3% in 2034.Predominating market players include Givaudan SA, Symrise AG & Kerry Group
Herbs & Spice By source type is estimated to grow at a CAGR of 4.9% creating an absolute $ opportunity of US$ 1,606.0 million between 2024 and 2034.Liquid under the form type is expected to reach around US$ 3,450.7 million by 2024.
“Increased retail penetration of vegan-flavored products through supermarkets, discount chains, and direct-to-consumer channels globally.” says a Fact.MR analyst.
Development by Market Players in the Add-Back Flavours Market
Döhler GmbH: In February 2024, Döhler's Expertise drives innovation in plant-based product launches by delivering tailored solutions for the vegan flavor market. With advanced ingredients, authentic taste, and optimized textures Döhler's supports diverse, sustainable launches across beverages, desserts, and dairy alternatives ensuring market success.
DSM N.V.: May 2023, Firmenich is merged with DSM, forming DSM-Firmenich AG, nutrition, health, and beauty innovation. The tie-up formed further consolidated their foothold in the industry as action on the new board signalled a new era for the new entity under strategic growth.
Givaudan: In June 2022, Givaudan and Manus Bio unveil BioNootkatone, a sustainable, clean-label citrus ingredient. This innovative launch combines Givaudans flavor expertise with Manus biotechnology offering a cost-effective, natural citrus solution, to further food and beverage applications while addressing market demand.
Market Dynamics
Consumers may now access smart labels thanks to contemporary technology, which provide them with information on tracking the path traveled by items and comparing it to each of their many attributes. Customers are demanding that food firms implement greater transparency in their goods and go beyond what the status indicates in terms of ingredients, nutritional value, and free from. Up until the finished product, buyers are constantly curious about the origin—where and how those elements were produced. Although it is anticipated that trust and transparency would be important concerns in the food and beverage business, governments have not imposed any rules and regulations pertaining to clean labeling.
To offer their products as clean label items, for example, businesses have begun to use the term "clean labeling" as a catchphrase for marketing and promotion. In order to market their clean-label food goods without losing the trust of customers, manufacturers must implement cleaner processes. In order to appeal to consumers who are health-conscious, several businesses have created clean-label vegan tastes.
Get Customization on this Report for Specific Research Solutions:
https://www.factmr.com/connectus/sample?flag=S&rep_id=9562
Production schedules may be disrupted and delayed as a result of fluctuating plant-based raw material supplies.
A significant challenge facing the vegan taste industry is the fluctuating availability of plant-based raw ingredients, which leads to production delays and supply chain snags. Seasonal trends, the consequences of global warming, and rising consumption demand are some of the causes that lead to shortages and price swings. Furthermore, the issue is made worse by procuring plant-based ingredients from other regions, as accessibility is hampered by political unrest and transportation constraints.
In order to overcome these difficulties, flavor makers usually have several sources of supply in addition to their main one, look for local alternatives if at all feasible, or have legally enforceable agreements with suppliers to guarantee delivery. However, these solutions are frequently more costly and involve more logistics. In such circumstances, a smart and sensible method is needed to guarantee the quality and price of the products as well as the stability of the supply chain that supports the delivery of reliable and superior vegan flavors within the expanding plant-based product trend.
Explore More Studies Published by Fact.MR Research:
Vegan Cheese Market According to the recently released Fact.MR analysis, sales of vegan cheese are expected to generate US$ 3.58 billion in 2024. By the end of 2034, the worldwide vegan cheese market is expected to have grown at a compound annual growth rate (CAGR) of 8.5% to reach a valuation of US$ 8.1 billion.
Vegan Cookies Market It is anticipated that the global market for vegan cookies will reach US$ 391.5 million in 2023 and grow at a compound annual growth rate (CAGR) of 8.5% to reach US$ 885.3 million by 2033. In 2022, sales of vegan cookies made up around 15% of the total amount spent on vegan bakery products worldwide.
About Us:
We are a trusted research partner of 80% of fortune 1000 companies across the globe. We are consistently growing in the field of market research with more than 1000 reports published every year. The dedicated team of 400-plus analysts and consultants is committed to achieving the utmost level of our client’s satisfaction.
Contact:
US Sales Office:
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583
Sales Team : sales@factmr.com
S. N. Jha
Fact.MR
+1 628-251-1583
email us here
Visit us on social media:
Twitter
LinkedIn