Vegan Sweet Potato Fries Market Segmented By Organic and Conventional Nature in Chips/Crisps, Puffs Product Type
Industry: Food and Beverages
Format: PPT*, PDF, EXCEL
Delivery Timelines: Contact Sales
Report Type: Ongoing
Report ID: PMRREP32881
According to latest research by Persistence Market Research, vegan sweet potato fries market is set to witness steady growth during 2021-2031. Demand for vegan sweet potato fries will witness steady increase in short-term, with optimistic growth outlook in the long-run. This is due to the rising demand for healthier snacks in major markets across the globe.
The rapidly increasing vegan population is attracting the attention of major food & beverages manufacturers due to which several innovations are being done to come up with products that depict the attributes of vegan edibles. Snacks are no exception to such change due to which a product like vegan sweet potato fries is gaining grip in the vegan snacks market.
Moreover, the health characteristic imparted by a sweet potato is a potent reason for the increase in demand for such products. Sweet potato is nutritious as it contains calories, carbs, protein, fat, fiber vitamin A, manganese, vitamin B6, potassium pantothenic acid, copper, and niacin. These are also rich in antioxidants that help in protecting the body from free radicals.
Furthermore, sweet potato also improves gut health due to its fiber (both soluble and insoluble) and antioxidants content. It is also anticipated to have anti-cancer properties, aids in improving vision, enhances brain function, and also supports the immune system. All these factors are responsible for augmenting the sales of an ideal snack like sweet potato fries and also in making it popular among vegans.
The growing trend of veganism is responsible for several innovations in the global food & beverages industry and hence the increasing numbers are sure to offer a lucrative business opportunity for major manufacturers in the snacks segment of the industry.
The growing vegan population and that too in major marketplaces across the globe requires innovative products that not only fulfill the energy needs but also be enriching in form of nutrients.
According to the Vegan Society, the average annual growth in the food & beverage products that are launched with vegan or plant-based claims grew to an exceptional high between 2015-2019 due to which several products are circulating in the market with such labels. These labels ensure wider acceptability of products and hence maximum profitability.
Snacking has become an important portion of daily diet and not just in kids but adults as well. The increasing urbanization and literacy have resulted in a more work-centric population than ever before due to which a need is created to feed the body with not only energy but nutrition as well. In this scenario, vegan sweet potato fries turn out to be an idealistic choice for snack cravers.
According to the data published by the U.S. Department of Agriculture (USDA), between 2007-2008, the percentage of adults snacking on a given day was up from 59% to 90% and the frequency was up from 1.0 to 2.2 snacks in a day with numbers expected to increase with increasing population. Such numbers depict an optimistic business outlook for vegan sweet potato snacks in major marketplaces.
According to the data provided by Food & Agriculture Organization (FAO), China in 2019 topped the production of sweet potato with an estimated volume of 51 Mn Tons. This shows the country’s prospect for the production of raw materials for manufacturing vegan sweet potato fries. This also ensures a reliable supply chain of raw materials for the manufacturers of this product.
China as a country has a lot more to offer to the companies indulged in manufacturing the product like advanced machinery, cheap skilled labor and the most essential is its growing vegan population. All these points converge to offer a lucrative business opportunity to the manufacturers.
Veganism is growing at a considerable rate in the European Union and some cities are among the top vegan cities around the world. A market in which the consumption of vegan edibles is increasing has nothing but a promising business growth outlook for an idealistic product like vegan sweet potato fries.
According to a report published by the U.S. Department of Agriculture (USDA’s), Foreign Agriculture Service in 2020 Germany alone had 1.3 Mn vegans and 8 Mn vegetarians among the total population of more than 80 Mn with the numbers depicting to increase each year. Such promising numbers are offering optimistic growth to the overall market for vegan sweet potato fries.
Some of the leading manufacturers and suppliers of vegan sweet potato fries include
The major manufacturers are ensuring product penetration in markets with most vegan populations to ensure demand for their product and increased popularity.
They are targeting countries and regions that have veganism and vegetarianism, among integral food trends in the marketplaces. Continued innovation to maintain product visibility is also ensured by key companies.
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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.
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company.
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