Vegan Tortillas Market to Witness a CAGR of Around 11%
According to latest research by Fact.MR, vegan tortillas is likely to witness robust growth during 2021-2031. Demand for vegan tortillas will witness a progressive growth outlook in the long-run. Rapid urbanization and high purchasing power among the consumers for healthy snack alternatives will mean limited opportunities in near future. However, growing demand for convenience food products, consumption of vegan tortillas by millennial fitness enthusiast working out and following their diet regularly will provide long-term momentum to vegan tortillas market.
What is Driving Demand for Vegan Tortillas?
In recent past, increased transparency and growing health concerns have shown an inclination in consumer perception towards plant-based food products. Thanks to the campaigns that have made consumers aware of several harmful effects related to health and environment accompanied with the use of synthetic products.
Rising awareness on animal cruelty and side effects with the intake of animal-based food products (such as obesity) is likely to escalate the demand for vegan/plant-based food products. This has ended up with consumer’s interest in consumption of organic and natural ingredients. In turn, fueling the demand for vegan tortillas.
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Moreover, changing food habits, living style, and increasing sedentary work culture of consumers are creating health-related issues and other several diseases, such as obesity, blood pressure, and cardiovascular diseases. In turn, fueling the demand for low-fat and protein rich food to minimize the impact of such changing lifestyle, simultaneously propelling the demand for vegan tortillas.
Presence of High Nutritive Properties to Augment Vegan Tortillas Sales
Rising consumer awareness, surging number of flexitarian population, and desire to lead active and healthy lifestyles amid the pandemic are some of the key factors influencing pro-health consumers to increase consumption of frozen foods such as whole-wheat vegan tortillas. End-users have become more conscious about maintaining high immunity level which is likely to advantage local vegan tortilla manufacturers by creating sustained opportunities in near future.
Vegan tortillas are a healthier alternative to ready-to-eat and on-the-go food products. This is primarily relevant for health-conscious sports person who have high level of importance to products that suits their active lifestyle. Although lockdown and shelter-at-home guidelines have meant restricted sporting activities, sales are likely to improve over the course of the assessment period owing to the surge in vegan population, and increase in number of online wellness & fitness clubs. However, awareness of people about certain diseases caused by nutritional deficiency is the utmost reason for the increase in demand for vegan tortillas.
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US and Canada Vegan Tortillas Market Outlook
The North America region has been a fertile ground for vegan tortillas and accounts for the highest market share throughout the globe. Both U.S. and Canada have witnessed a rapid growth in the sales of vegan tortillas, owing to the demand for convenience food products as well as growing awareness on increasing food allergies from animal based food products.
The rising popularity of healthy dietary segment including gluten-free, organic, low-carbs, low-fats and high-fiber digestive tortillas in developed economies, like the United States, is driving the sales of vegan tortillas and likely to upsurge the market demand in near future. To hold the market position, manufacturers of tortillas are innovating new forms to take over the market. For instance, Maria and Ricardo’s, a brand of Harbar LLC, Canton, Mass., introduced a trio of grain-free veggie tortillas in Cauliflower, Zucchini and Sweet Potato assortments. Cauliflower and Zucchini offer one serving of vegetables each, and Sweet Potato delivers half a serving.
The attached risk of diabetes and cardiovascular diseases with meat consumption is likely to reduce the non-vegan (meat) spending in US and Canada by 2022 and beyond, which will continue to benefit vegan tortillas manufacturers.
Europe Demand Outlook for Vegan Tortillas
Europe holds another great portion in the vegan tortillas market. Moreover, the European food industry is inclined towards innovation in the food products to meet the demand of vegan consumers. With the largest vegan population, the region is taking initiatives to improve quality and standard of food products by the means of vegan ingredients. Germany, Italy, and France being the most visited countries in Europe, are creating opportunities for vegan tortilla manufacturers to supply on-the-go vegan tortillas in form of convenient and ready-to-eat food.
Who are the Key Manufacturers of Vegan Tortillas?
Some of the leading manufacturers and vegan tortilla suppliers include
At present, the market for vegan tortillas is highly unorganized in few regions. However, the demand for vegan tortillas is likely to swell in near future with an upsurge in flexitarian and vegan population, in turn, making it one of the most organized market as a source of vegan protein.
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The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Vegan Tortillas Market Report Highlights:
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