Market Size in 2023 | Market Forecast in 2032 | Growth Rate (in %) | Base Year |
---|---|---|---|
USD 76.43 Million | USD 118.57 Million | CAGR at 5.00% | 2023 |
According to the report published by Zion Market Research, the global Seitan Market size was valued at USD 76.43 Million in 2023 and is predicted to reach USD 118.57 Million by the end of 2032. The market is expected to grow with a CAGR of 5.00% during the forecast period. The report analyzes the global Seitan Market’s growth drivers, restraints, and impact on demand during the forecast period. It will also help navigate and explore the arising opportunities in the Seitan Market industry.
Seitan is a popular vegetarian meat alternative prepared from hydrated gluten – the key protein present in the wheat. The product comprises of minerals & proteins as well as fats & low carbs which helps in making it nutritious. It has a neutral taste and allows taking the flavor of many seasonings along with integrating it into any diet.
Massive customer shift toward vegetarian food is likely to lucratively leverage the intake of Seitan. Apart from this, people who are allergenic & sensitive to soy items like tofu and tempeh prefer Seitan. Moreover, the escalating popularity of plant-based diet across myriad regions will further proliferate the growth of the industry in the forthcoming years.
Furthermore, with escalating vegan trends emerging in the western world, many of the fast-food hotels are serving tacos, burgers, hotdogs, and sandwiches as an alternative to meat. Additionally, an increase in the number of fast-food stores using meat substitutes is likely to generate lucrative growth avenues for the Seitan industry. Apparently, the increase in health issues such as obesity due to meat consumption along with the possibility of the occurrence of disease like mad cow disease due to meat intake will prompt the industry growth.
Burgeoning demand for ready-to-eat diets and rise in the eCommerce activities are few of the other factors that will contribute notably towards the optimization of the market revenue. Nevertheless, the fluctuations witnessed in the costs of the cereals are predicted to hinder the growth of the industry in the forthcoming years.
The overall Seitan market can be classified based on product type.
Based on product type, the overall Seitan market is further divided into organic and conventional Seitan.
Based on regions, the overall Seitan industry can be divided into five main regions: Europe, Asia Pacific, North America, Latin America, and the Middle East and Africa.
Report Attributes | Report Details |
---|---|
Report Name | Seitan Market Research Report |
Market Size in 2023 | USD 76.43 Million |
Market Forecast in 2032 | USD 118.57 Million |
Growth Rate | CAGR of 5.00% |
Number of Pages | 201 |
Key Companies Covered | Ollio Group Ltd., Wheaty, Morningstar Farms, Vbites Foods Ltd., Upton's Naturals, The Nisshin MGP Ingredients, Inc., Sweet Earth Foods, Garden Protein International, Inc., LIMA, Maya, Meatless B.V., and Amy’s Kitchen, Inc. are among |
Segments Covered | By Product type and By Region |
Regions Covered | North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA) |
Base Year | 2023 |
Historical Year | 2018 to 2022 |
Forecast Year | 2024 - 2032 |
Customization Scope | Avail customized purchase options to meet your exact research needs. Request For Customization |
Regionally, the Asia Pacific is projected to make notable contributions even during the estimated timeline. The regional market growth can be credited to the huge demand for vegan products in the thriving foodservice sector.
Moreover, growing health concerns in countries of Europe along with rapidly changing lifestyles & demographics are likely to drive the growth of Seitan industry in the European continent.
Some of the key players in Seitan industry include:
are among the key players participating in Seitan industry.
Moreover, these players are trying to constantly focus on enhancing the product quality, improving the service offerings, and reducing the menu costs for attracting the customers. This will not only make the market competitive but will also contribute sizably towards the overall market size in the near future.
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