According to the recent seitan market analysis report by Future Market Insights, a market research and competitive intelligence provider, sales of Seitan is estimated to reach a value of nearly US$ 106.9 Million by 2032, by surging at 4.8% CAGR through the decade.
Seitan flour has a mild flavour that allows it to absorb the essences of a variety of seasonings and readily integrate into any meal. Seitan demand has been mostly influenced by the current consumer shift towards vegetarian and vegan diets, owing to its high protein content and low carbohydrate content.
Seitan, a protein-rich meat substitute produced from wheat gluten, has seen a tremendous increase in market growth. Its popularity has skyrocketed among health-conscious consumers and vegans, fueling an exponential increase in demand for seitan-based goods. The seitan market is primed for continuing growth, because to its numerous culinary applications and long-term appeal.
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Proliferation of e-commerce websites and the easy availability of seitan whole foods through an increasing number of online retail channels is anticipated to drive the globa seitan market. Other factors, such as extensive promotional events by athletes and celebrities to promote the consumption of vegetarian products in order to maintain a healthy lifestyle is expected to further fuel the seitan market opportunities in the coming days.
To compete in this business, seitan market key players are offering a variety of options based on service, pricing, goods, location, and quality. Sonic Drive-Throughout, Wendy’s, and Burger King, for example, have grown their vegan fast-food businesses in the Mexico, Thailand, China, South Korea, India, United States, Turkey, Brazil, and Australia.
Soy free seitan is also a popular vegan protein choice for those who are sensitive to or allergic to soy-based goods like tempeh and tofu. However, the global seitan market is predicted to grow in response to the growing demand for plant-based foods in various parts of the world.
Key Takeaways from Market Study
- North America is expected to have 38% seitan market share.
- Only US holds 65 % Seitan market share in North American Market.
- Europe is expected to have 31 % Seitan market share.
- Germany alone holds 22 % Seitan market share in European Market.
- Asia is expected to have 20 % Seitan market share.
- China leads with 32 % Seitan market share in Asian Market.
- Seitan market manufacturers are experimenting with new ways on increasing production capacity and also doing research and innovation to create products.
“The growing focus on the consumption of Seitans in developed regions such as Europe and North America is likely to open lucrative opportunity for market players in the long run”, –says a lead analyst at Future Market Insights.
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Competitive Landscape
Seitan flour products have a strongly competitive global market. Industry giants such as Beyond Meat, Impossible Foods, and Oatly are supporting a spike in plant-based food alternatives as they partner with eateries and huge corporations.
Some of the leading seitan producing companies are LIMA, Upton’s Naturals, Vbites Foods Ltd., Snack Pellets Wheaty, Maya, Meatless B.V., The Nisshin MGP Ingredients, Inc., Sweet Earth Foods, Ollio Group Ltd., MGP Ingredients, Garden Protein International, Inc., Amy’s Kitchen, Inc., and Morningstar Farms, Inc. among others
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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