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 very neutral flavor, allowing it to absorb the essences of a variety of seasonings and integrate it seamlessly into any meal. Due to its high protein content and low carbohydrate content, demand for seitan has mostly been influenced by the growing consumer push toward vegetarian and vegan diets in recent years.
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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
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10 years.
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