The global vegan baking ingredients market size is anticipated to reach USD
1.6 billion by 2025, according to a new report by Grand View Research, Inc., expanding
at a CAGR of 5.6% over the forecast period. The growth of the market is
attributed to increase in inclination of people towards vegan diet, rise in
demand for such products, and continuous research and development in the global
market.
Moreover, online retail stores are focusing
on adding multiple vegan based bread items to tap the surging demand as well as
capitalize on the increasing demand with few stores that are launching self
manufactured products. For instance, a British supermarket chain, Waitrose
& Partners has been assigning specific sections for these products, thereby
providing an expansive distribution network.
In 2018, approximately 11,000 tons of vegan
baking ingredients were sold for the production of bread in U.K. Europe is
actively taking initiatives to improve the standard of food products by
continuous research in this market. For instance, in U.K., Artisan Bread
Organic launched a vegan burger with 100% organic products.
In 2018, flour held the largest share of
37.5% in the global market and is anticipated to witness the highest growth in
the coming years. It has a medium protein content of 9% to 12%, which makes it
inelastic and suitable for cookies and cakes. Moreover, flour has a wide
application in the bakery market for products such as cakes, cookies, and
biscuits. Gluten Free is a leading manufacturer of vegan flour and bakery mixes
such as muffin mix and bread and roll mix. The segment is gaining popularity
due to innovation by companies related to the product.
Breads and rolls held the largest share of
more than 40.0% as result of high consumption by the Western countries and at
the global level. The companies are expanding the product range by introducing
new healthy bread alternatives. For instance, in U.S., a chain of grocery
stores named Trader Joe’s, introduced vegan banana bread loaf in all its
stores.
The APAC region is expected to expand at a
CAGR of 6.3% from 2019 to 2025. Improved standard of living and change in food
preferences are the major factors driving the market in the region. For
instance, in Japan, a bakery chain named Pompadour launched its vegan curry
bread in all outlets, which is made up of organic and clean ingredients.
The industry is dominated by leading
players such as Associated British Foods, BASF SE, Kerry, DuPont, Dohler Group,
Kerry, and Dawn Food Products. To gain a competitive advantage, the companies
are focusing on product expansion and innovation. For instance, Pak Group
launched a vegan egg replacer under its brand, Bellarise.
To request a sample copy
or view summary of this report, click the link below:
https://www.grandviewresearch.com/industry-analysis/vegan-baking-ingredients-market
https://www.grandviewresearch.com/industry-analysis/vegan-baking-ingredients-market
Further key findings from the report suggest:
· The global vegan baking ingredients market
is expected to expand at a CAGR of 5.6% from 2019 to 2025
· By product, flour is expected to witness
the highest growth over the forecast period
· By end product, the breads and rolls
segment accounted for the largest share of more than 40.0% in 2018
· The growth of online segment is attributed
to rising penetration of e-commerce and low cost of startups
· Europe held the largest market share in
2018. APAC is anticipated to expand at the highest CAGR of 6.3% over the
forecast period.
Grand View Research has segmented the
global vegan baking ingredients market on the basis of product, end product,
and region:
Vegan Baking Ingredients Product Outlook
(Revenue, USD Million, 2015 - 2025)
·
Flour
·
Oils
·
Sweeteners
·
Flavoring Agents
·
Others
Vegan Baking Ingredients End Product
Outlook (Revenue, USD Million, 2015 - 2025)
·
Cakes & Pastries
·
Breads & Rolls
·
Biscuits & Cookies
·
Others
Vegan Baking Ingredients Regional Outlook
(Revenue, USD Million, 2015 - 2025)
·
North America
·
Europe
·
Asia Pacific
·
Central & South America
·
Middle East & Africa
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
