Plant-Based Breakfast Products Market Forecast and CAGR
According to the latest research by Transparency Market Research, the plant-based breakfast products market is set to witness significant growth during 2021-2031. Demand for plant-based breakfast products has increased due to the growing popularity of veganism as well as the environment and ethical concern arises, and with the innovation in the plant-based meat attract the non-vegetarian consumer towards the plant-based breakfast. With the surge of COVID-19, it has been observed that people are shifting towards plant-based products over non-vegetarian products therefore plant-based breakfast products are considered as a better alternative.
What is Driving Demand for Plant-Based Breakfast Products Market?
Plant-based breakfast is gain attraction because of the new launch by the foodservice industry of innovative, nutritious, and tasty products such as plant-based oat drinks, plant-based meat, and others. Plant-based meat is among the latest product in the market as it is vegan, full of nutritional value, and gives the same feel and texture. It has been observed that consumers are shifting towards a vegan diet because the majority of the diseases are spread through animal-based diets like Cancer, anima, obesity, cardiovascular disease, and others which drives the market toward plant-based breakfast products.
U.S Demand Outlook for Plant-Based Breakfast Products Market
Breakfast is among the most popular meals in the U.S. market as the increase in breakfast trend foods covers more than one-fourth of the menu card in the restaurant over the past decades. Since then lunch and dinner rise at a slower rate and breakfast has become dominant in the restaurant business. Food industries giant like Morningstar Farms, Boca, and others are working on the innovation in plant-based foods and therefore introduced plant-based scrambled eggs which contain no egg and introduced vegan egg and high-protein pancake batter as the egg is among the most preferred diet for breakfast. Additionally, consumers expect seafood, chicken, pork, beef, and others on most of the foodservice menu and therefore expecting new products. Companies like Dunkin’s earn more profit by introducing the plant-based product in the U.S. market because of nutritious content and the food value it provides is beyond animal based diets.
Europe Demand Outlook for Plant-Based Breakfast Products Market
Europe is expected to rise in the plant-based breakfast market in the future. As it has been witnessed the growth in plant-based industries by observing the market and trend for veganism in the region. Moreover, UK is the largest population in the world of people consuming vegan diets. By observing the market size and trend foodservice giants are focusing on the region.
What are the consequences of COVID-19 pandemic in Plant-Based Breakfast Products Market?
It has been observed the rise in plant-based breakfast products during the COVID-19 pandemic because of growing health concerns among consumers of animal-borne diseases and natural product drives the projection to drive the plant-based breakfast market. Moreover, plant-based products are more preferred by the consumer post-pandemic as a consumer are shifting towards look-alike substitute of the animal-based product which possess same taste, texture, and others. Moreover, COVID-19 causes lockdown in many countries which affect the supply chain of the market and during the release of lockdown offline and online store slowly developing its new pace higher than the previous because of plant-based breakfast possess good health benefit which helps in overall development of the body.
Who are some of the Key Manufacturers in the Plant-Based Breakfast Products Market?
Some of the key manufacturer of plant-based breakfast are as follows Morningstar farms, Hilary’s, Tofurky, JUST, Spero Foods, Dunkin’s, Tofuna Fysh, Ocean Hugger Foods, Loma Linda, BeLeaf, BlueNalu, Homemade, Impossible Foods, Archer Daniels, Kellogg’s, Final Thought, CLO-CLO vegan foods and others.