Vegan Flavor Market Overview, Growth, and Trends (2021-2031)

MARKET INTRODUCTION

Vegan flavors are produced from various sources such as vegetables, fruits, fusion, herbs, and spice. Consumers are moving towards vegan food and beverages due to rising awareness among the consumers about the environmental impact caused due to excessive consumption of meat and meat products. As compared to meat-eaters, vegan consumers weigh less, have lower cholesterol, blood pressure, and rates of type 2 diabetes. The vegan population has a 30% lower risk of heart disease and cancer rates. Most cases of type 2 diabetes, heart disease, and cancers can be avoided by changing to a healthier diet and shifting preference towards vegan products such as vegan flavors.

MARKET DYNAMICS

The vegan flavor market has witnessed significant growth owing to factors such as the rising vegan population in developed countries such as the US, Canada, Australia, Germany, France, and Italy. Moreover, growing concerns about animal cruelty and its adverse environmental impact provide huge market opportunities for the key players in the vegan flavor market. However, fluctuation in the prices of raw materials is projected to hamper the overall growth of the vegan flavor market.

MARKET SCOPE

The "Global Vegan Flavor Market Analysis to 2031” is a specialized and in-depth study of the food and beverages industry with a special focus on the global market trend analysis. The report aims to provide an overview of the vegan flavor market with detailed market segmentation by source, form, end use and geography. The global vegan flavor market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading vegan flavor market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

The global vegan flavor market is segmented on the basis of source, form, and end use. On the basis of source, the vegan flavor market is segmented into vegetables, fruits, fusion, herbs and spice, and others. Based on form the market is segmented into liquid and powder. On the basis of end use, the vegan flavor market is segmented into food industry, beverage industry, pharmaceutical industry, and others. The food segment is divided into processed food, dairy, bakery, and confectionery. The beverage segment is divided into flavored drinks, energy drinks, and fruit juices.

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global vegan flavor market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The vegan flavor market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the vegan flavor market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the vegan flavor market in these regions.

MARKET PLAYERS

The reports cover key developments in the vegan flavor market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from vegan flavor market are anticipated to lucrative growth opportunities in the future with the rising demand for vegan flavor in the global market. Below mentioned is the list of few companies engaged in the vegan flavor market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the vegan flavor market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.

•   Döhler
  
•   Givaudan SA
  
•   Innova Flavors
  
•   International Flavors & Fragrances, Inc.
  
•   Kerry Group
  
•   McCormick & Company, Inc.
  
•   Sensient Technologies Corporation
  
•   Symrise AG
  
•   Takasago International Corporation
  
•   The Edlong Corporation
  
  

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Vegan Flavor Report Scope