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The vegan product industry has seen significant growth over the last few years – with producers eager to tap into the ‘health megatrend’.

Research
conducted by Innova Market Insights
shows significant growth in the vegan product industry – with 132 percent in Latin America, 50
percent in Europe, 45 percent in Australia and Asia collectively, and 34
percent in North America

Driving
factors

Katharina Schäfer, in Product Management for ingredient supplier Hydrosol, said she expects demand will continue to increase.

She added: “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.”

‘Added value’

Schäfer also noted that she expects that
consumers will expect higher protein products to be available in the future,
based on the findings of market research.

This, and an increase in quality, are anticipated
demands the company is already working toward meeting.

When commenting on Hydrosol’s efforts, Innovation
and Product Manager for Dairy Products, Dr. Dorotea Pein said: “Our goal is not
just to present customers with ideas for vegan alternative products, but to
deliver concepts with added value.” 

Emily Court

Emily Court is a writer and content creator published in Plant Based News, Raise Vegan, Living Vegan and The Financial Diet. A self-described "recovering vegan hothead," she is now a pragmatic member of Vancouver's vibrant and growing plant-powered community. Hailing from Halifax, Nova Scotia, she holds a BA in Spanish and certificate in Intercultural Communication from Dalhousie University, where her thesis focused on topics of cultural and gender-based discrimination....