Global Plant-Based Pasta Market - 2023-2030

Global Plant-Based Pasta Market - 2023-2030

Market Overview

Plant-Based Pasta Market was valued at USD YY million in 2022. It is forecasted to reach USD YY million by 2030, growing at a CAGR of 6.54% during the forecast period (2023-2030).

Plant-based pasta is basically the pasta which is strictly made from plant-based ingredients such as wheat, rice, buckwheat and others. The increase in demand for plant-based pasta is due to the population's acceptance of veganism, which has spread like wildfire over the world. As a result, traditional pasta manufacturers have begun to produce plant-based pasta or vegan pasta in order to cater to vegan customers.

In addition, the desire for healthy, clean-label foods is on the rise, prompting pasta manufacturers to focus their efforts on vegan offerings. There has been a significant shift in the consumption pattern of consumers in the past few years, as increasing number of people are replacing their traditional diet to a healthy and nutritious diet. This is owing to the rising consciousness among consumers to maintain a healthy diet with sufficient protein intake. This indeed increases the demand for plant-based pasta.

Market DynamicsIncreasing vegan population is driving the growth of global plant-based pasta market

Plant-based pasta is anticipated to witness continuous growth over the forecast period. The growth of plant-based pasta market is driven by rising demand for vegan and plant-based and vegan food products owing its health benefits. The plant-based diet provides various health benefits such as it regulates hypertension and stress levels, lowers the risk of heart attack, controls diabetes, helps in weight loss, and reduces the risk of cancer and many others. These benefits attract the consumers towards vegan and plant-based diet adds to the growth plant-based pasta market. For instance, in 2020, according to Veganz, 3.6% of the population is vegan in Germany.

In addition, availability of various flavors of pasta has driven the sales of plant-based pasta in the food industry. Consumers are increasingly embracing the vegan lifestyle and opting for healthy substitutes for dairy, meat and another conventional source of protein which ultimately increases the demand for plant-based pasta in the industry.

Furthermore, growth in per-capita health expenditure, increasing number of working women, growth in middle-class population and rapid urbanization enables consumers to buy easy to make plant-based food to save the time. The presence of various natural ingredients in plant-based pasta with growing awareness regarding health benefits contributed significantly to its volume growth over the forecast period.

However, lack of knowledge regarding plant-based pasta is limiting the growth of this market. Furthermore, high price of vegan or plant-based pasta is also limiting the growth of the global plant-based pasta market.

Market Segmentation: Wheat stands for the highest share in global plant-based pasta market

In 2021, the wheat segment dominated the market and accounted for YY share of the global revenue. The growth of this segment is attributed to the fact that consumers demand nutritional and healthy food products owing increase in awareness about its benefits. Thus, manufacturers are also launching new products in the market. For instance, in March 2022, Arcadia Biosciences launched five stock-keeping units of fiber-rich GoodWheat pastas at retail in May, hoping the move into consumer-packaged goods changes the trajectory of its struggling stock price.

In addition, the awareness regarding the health benefits of plant-based pasta has increased the demand for wheat segment products. Wheat improves metabolism, promotes nutrition intake, helps digestion, good for cardiovascular health, thus, these benefits enabling consumers to buy the products which ultimately increasing the demand of the segment.

Geographical Penetration: North America is the dominating region during the forecast period

In 2021, North America had the highest revenue share of YY percent. The region has well-developed food & beverage industry. In addition, different types of plant-based pasta products have been popular in the U.S., Canada, and Mexico. The growing working population in North America enabling consumers to prefer the healthy and easy to cook food items which can save their time and also can provide them with good nutrition. For instance, in 2020, according to Social, approximately 36% of American have consumed ready-to eat food in 2020. Furthermore, new technological innovations, busy and hectic work schedules along with rapid growth in personal disposable income of consumers enabling the working-class population adopt the plant-based diet which is easy & quick to cook that ultimately increases the demand of the food in the region and adds to the growth of the market.

Competitive Landscape

The global plant-based pasta market is competitive and comprises players such as Barilla Group, De Cecco Company, Nestlé S.A., Delverde Industrie Alimentari S.p.a., RFM Corporation, Grupo La Moderna, General Mills, Inc., Pastas Gallo Company, Bionaturae LLC and Windmill Organics among others. The plant-based pasta market competitiveness is estimated to increase over the forecast period as the key players focus on various strategies such as acquisitions, collaborations, new product launches, product innovation with fortification according to the consumer demand along with marketing & advertising. Moreover, growing demand for healthy and nutritious and plant-based products such as wheat, rice, legume-based pasta is propelling the market growth. For instance, in August 2020, Tolerant® launched new line of organic plant-based pasta for kids. It is a school-safe, free of major allergens, vegan, gluten-free, non-GMO, and Kosher. In February 2021, Barilla acquired a Canadian company Catelli. The acquisition includes the company’s dry pasta plant in Montreal (Quebec).

COVID-19 ImpactPositive impact on global plant-based pasta market

The COVID-19 pandemic has adversely affected various industries and the economies of various countries due to lockdowns, government-imposed restrictions on import-exports, business close, and travel bans. Food and beverages, agriculture is among the major industries that suffered from intense disruptions such as restrictions on the supply chain and the shutdown of warehouse plants.

In addition, during the pandemic majority of the population was working from home, and due to that, there has been extended working hours, time constraints more pressure along with money saving has seen. These factors influenced consumers to buy the products which are easy to cook, as well as healthy and plant-based to avoid any health conditions. For instance, in 2020, according to a recent survey done by Assocham (Associated Chamber of Commerce and Industry of India) says about 79% of Indian households prefer to have instant food due to time constraints.

In addition, the easy availability of the fast-food products on online platform increased the sale of the products during covid-19. Thus, plant-based pasta is considered as millennial’s new favorite owing to its easy availability, availability of variety of options and new product innovations by manufacturers even during and after the covid-19 pandemic. Thus, the growing working population and time constraints enable consumers to buy plant-based pasta. In addition, the surety of sanitization, hygiene and safe products is driving the growth of the market.

The global plant-based pasta market report would provide an access to approximately 53 market data tables, 44 figures and 170 pages