Mushroom based Jerky Market Outlook, Forecast and CAGR
Traditional Jerky is the jerkies made from the flesh of animals such as chickens, cows, and turkeys, whereas mushrooms-based jerky, as the name suggests is the jerky which involves mushrooms with a combination of wheat gluten, or soy.
According to latest research by Transparency Market Research, the study showed a decent increase in growth rate over the past few years and is expected to experience a remarkable CAGR in the forecasted period of 2021-2031. As the increasing number of vegan consumers, the demand will witness significant recovery in short-term, with optimistic growth outlook in the long-run.
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What is Driving Demand for Mushroom based Jerky?
Mushroom based jerky is having few properties which are similar to conventional jerky such as chewy and “meaty” texture. It also has a high protein content and possesses low calorie. It is the best alternative the traditional meat-based jerky for the vegan and vegetarian consumers. The growing trend of veganism is one of the main factors that drives the market growth of mushroom-based jerky.
Busy life style, increasing disposal income, has led to increasing consumption of on-the-go and healthy food products. In order to that, there are some manufacturers producing mushroom-based jerky which possess features such as no preservatives, low cholesterol, having 3% of RDA iron. It is readily used a great type of on-the-go snacks and it can also be prepared at home easily.
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Mushroom based jerky has a lot of benefits over traditional jerky such as there are a lot of diseases which can be prevented if consumers consume mushroom-based jerky rather than consuming conventional jerky like there are improvement been observed in case of heart diseases, obesity, hyper tension, prostate cancer, and others.
It is also suitable for consumers having celiac disease. According to an analysis, increase in health awareness coupled with rising consciousness towards animal welfare and environment sustainability are the key factors that would drive global Mushroom based Jerky market.
COVID-19 Impact on Mushroom-based Jerky Market
The covid-19 imparted a severe impact market. Due to global lockdown, most of the production units of this market were either minimized or closed for a while. Due to the crunch in the economy of the market, failure in supply chain management, most of the manufacturers faced losses. But this market garnered some positivity in the latter part of the lockdown.
The market has been showing a positive curve for the past few months as mushroom-based jerky is the best alternative of traditional jerky. Due to pandemic consumers have started inclining towards the plant-based products. Hence, looking at all the factors of this market, it is expected to rise significantly.
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Europe Mushroom based Jerky Market Outlook
A rise in vegan population will increase the demand of mushroom-based jerky across the Europe market because mushroom-based jerky turns out to be a good option for snacks such as sandwiches, salads, etc. for the vegan population.
Mushroom based jerky is also medically beneficial for consumers as compared to traditional jerky as it provides better digestion due to high fiber content, high, nutrients, vitamins, and energy content. Thus, the market of mushroom-based jerky is growing in this region.
- Within the last four years alone, the number of vegans in Europe has doubled from 1.3 million to the current estimated figure of 2.6 million, representing 3.2% of the population. Almost a third of all Europeans no longer consider themselves full meat-eaters anymore.
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North America Demand Outlook for Mushroom based Jerky
Lately, snacking has become more popular among consumers as compared to sit down meals. In the North America consumers are also shifting towards veganism. The growing dietary trend of shifting towards nutritious food products is anticipated to drive the market.
Who are the Key Manufacturers and Suppliers of Mushroom based Jerky?
Consumers prefer more information on the packaging of the product. Clean labels, including non-GMO, gluten-free, low sodium, no artificial ingredients, minimal processing, and no antibiotics are raising trends in the industry, in order to that key players produce the products that can meet the consumer demands.
Key players and suppliers which are included in the production of plant-based protein powders market are Hive, Inc., Primal spirit food Inc., Louisville Vegan Jerky Co., Unisoy foods, Cocoburg LLC, Vegky, Shiitake, Moku, Shrooms Snacks, Condé Nast, Archer, and some other.
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