Global Seitan Market 2019-2023
About this market
The increasing demand for ready-to-eat food products to drive growth in the market. demand for convenience in food products has fueled the demand for ready-to-eat food products, including seitan. The need for leisure time has increased the demand for convenience food products among consumers. Thus. ready-to-eat food items are gaining popularity among time-pressed consumers. Technavio’ s analysts have predicted that the seitan market will register a CAGR of almost 4% by 2023.
Increasing number of fast-food outlet
The demand for seitan is expected to increase due to the growth of fast-food restaurant chains that have sustained dominance over the last five years in the global burgers market. Fast-food restaurants provide a compatible atmosphere for people to socialize with friends and families.
Fluctuating prices and specific weather requirements
Seitan is made from cereals such as wheat and chickpea. The price and production of seitan depend on the availability and price of raw materials such as wheat and chickpea. However, the unstable pricing pattern of different cereals adversely affects the purchase of the raw materials required to manufacture seitan.
For the detailed list of factors that will drive and challenge the growth of the seitan market during the 2019-2023, view our report.
The market appears to be fragmented and with the presence of several companies including LIMA and Maya the competitive environment is quite intense. Factors such as the increasing demand for ready-to-eat food products and the increasing number of fast-food outlet, will provide considerable growth opportunities to seitan manufactures. LIMA, Maya, Sweet Earth Foods, Upton's Naturals, and Wheaty are some of the major companies covered in this report.
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