The increasing popularity of the vegan market is prompting ingredients suppliers to cater to this market further, according to Hydrosol, as the demand for innovative solutions is in demand. Hydrosol specialise in stabilizing ingredients and systems, and in emulsifiers with a wide range of products that accommodate to vegans.
Key areas that saw a dramatic increase in vegan product launches and the vegan market was Latin America, with an increase of 132 per cent, followed by Europe with a 50 per cent increase. Australasia had a 45 per cent increase and North America saw a 34 per cent increase in this market.
Speaking to FoodIngredientsFirst, Katharina Schäfer from product management at Hydrosol, said: “It was a surprise that Latin America has such a high growth rate of new product launches in this category. But in this case, you have to consider how many products have been launched in past years. In Europe and North America, we still have a high CAGR and the highest number of vegan alternatives to dairy products.
“Consumers in many regions of the world are getting more and more sensitive regarding their food, especially regarding sustainability. People are questioning where their food comes from and how it is made. Another important factor driving this is the global health megatrend. Surveys show that many consumers see vegan alternatives as healthier options to dairy products.”
Schäfer added: “The dairy category itself is very broad, so there is still more to come in vegan alternatives. But it’s not just range extensions that we’ll be seeing; there will also be a quality improvement. Consumer expectations are growing day by day and this is why products of high quality are necessary if you want be successful with vegan alternatives.”
As consumers are expecting more from their food, the expectations of taste, texture and enjoyment that consumers get from their food is also increasing, putting more pressure on manufacturers to meet the demand.
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