Vegan Oatmeal Market to Expand at a CAGR of over 9%
According to latest research by Fact.MR, vegan oatmeal market is projected to grow at a steady pace during 2021-2031.While the market is set to show recovery from crisis in the mid-term of the projection period, for the long term, demand is expected to showcase higher than the historical growth. Growing demand for instant and healthy breakfast is anticipated to fuel the demand for vegan oatmeal market. Additionally, increasing number of health conscious consumer will create lucrative opportunity in upwelling the vegan oatmeal sales.
What is Driving Vegan Oatmeal Sales?
In last few years, consumers are shifting towards more healthy and organic diet, to improve their immunity with proper protein enriched food. Additionally, predominance of vegan and instant food products has been supporting the market growth of vegan oatmeal due to its high nutritional value and less cooking time. Vegan oatmeal manufacturers have urged consumers to include vegan oatmeal as breakfast and beverage food option due to their potential health benefits.
The emergence of several vegan-diet focused dieticians have augmented the growth of vegan oatmeal. Their meal plan spans vegan breakfast, vegan lunch, vegan dinner and vegan desserts, where vegan oatmeal have been an integral part of vegan breakfast. Though this trend has been more common in developed countries, their developing counterparts are also expected to follow the suit.
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COVID-19 Hinder the Global Sales of Vegan Oatmeal
Vegan oatmeal market witnessed shrink in the vegan oatmeal sale, during the pandemic. As consumers started to focus on the essential food products instead of specialty or food targeted to a defined set of consumers. However, the online retailers supported the vegan oatmeal sales amid the pandemic to keep the vegan oatmeal demand afloat. Additionally, disruption in the distribution channel of the vegan oatmeal during pandemic impacted the vegan oatmeal demand. Hence, the demand of vegan oatmeal went south, owing to such market conditions.
However, post COVID-19 is expected to rebound and witness higher growth especially in first quarter of 2021, owing to expanded distribution channel and growing popularity. During pandemic, consumers understood the importance of vegan products and their benefit. Similarly, consumers supported the environment by reduction in sales of animal based products due to this vegan oatmeal is anticipated to gain more market in the coming years.
US and Canada Vegan Oatmeal Demand Outlook
North America portrayed rapid growth in vegan oatmeal demand, owing to increasing precooked food option. In last few years, U.S. vegan oatmeal market has witnessed steady growth among the health conscious consumers. Similarly, majority of the U.S. population prefers on-the-go snack due to hectic lifestyles. Vegan oatmeals have been one of the common breakfast in the U.S. Additionally, Canada observed growth in the vegan population which in turn, supports the vegan oatmeal sales.
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Furthermore, U.S. and Canada both have well established supply chain of vegan products, owing to high demand for plant based products. Apart from this, U.S. and Canada showcased the importance of plant based food products for the fitness enthusiasts and to maintain protein intake, which in turn anticipated to drive promising demand in the foreseeable years.
Europe Demand Outlook for Vegan Oatmeal
Similar to North American countries, European countries are also witnessing steady growth in the last few year, owing to growing number of vegan population.
Some of the European countries including Germany, U.K, Italy, and Spain are witnessing significant reduction in the non-vegetarian food sales, owing to increasing adoption of vegan food products.
Additionally, European countries are introducing variety of vegan oatmeal options, from breakfast to dinner, which in turn has been supporting the market growth of the vegan oatmeal. Rising demand for vegan oatmeal in Europe vegan oatmeal demand has compelled for investment in the expansion of distribution channel and innovation in the product line.
Who are the Key Manufacturers and Suppliers of Vegan Oatmeal?
Some key market participants of the key vegan oatmeal are
Some of the emerging manufacturers of vegan oatmeal in China includes
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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 Oatmeal Market Report Highlights:
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