VEGAN BACON MARKET ANALYSIS

Market Challenges And Opportunities

• Increase in Production of Mushrooms: The rising production and consumption of mushroom such as button mushroom, oyster mushroom, and others is also expected to drive the market growth in the coming years. For instance, on December 8, 2020, Post Holdings, a consumer packaged goods holding company, acquired Peter Pan brand of Conagra (consumer packaged goods holding company) and the transaction between Conagra and Post Holdings was completed on January 25, 2021. Acquired Peter Pan brand of Conagra Brands combines a rich heritage of making great food with a sharpened focus on innovation and the transaction between Conagra and Post Holdings was completed on January 25, 2021.
• Increase in demand for Plant-Based food products: Increasing demand for plant-based food products such as tofu, bread, rice, dry pasta, and others is also boosting the market growth. In November 2020, Hooray Foods, a plant-based meat company launched around 300 whole food stores across California. Hooray Foods estimated their growth projection of US$ 140 billion by the end of 2029. According to global news wire, in November 2020, Hooray Foods, a plant-based meat company launched around 300 whole food stores across California and this food stores are expanding weekly in the state. According to the company’s report, Hooray Foods estimated their growth projection of US$ 140 billion by the end of 2029.

Global Vegan Bacon Market: Restraints

• Highly processed food restraining the market growth: Vegan bacons are highly processed foods which can restrain the market growth. They tend to be high in (Sodium) saturated fat such as coconut and palm oil. Presence of saturated fats can hamper the market growth during the forecast period.

Global Vegan Bacon Market: Opportunity

• Increase in Consumption of Mushroom: Rising production and consumption of mushroom such as button mushroom, oyster mushroom, and others across the globe is expected to drive the global plant based meat market growth. (Increasing number of vegan population) across the globe is expected to drive the market.