Global Vegan Baking Ingredients Market by End Product (Breads & Rolls, Cakes & Pastries), by Product (Oils, Flour) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

Global vegan baking ingredients market was worth USD 1.1 billion in 2018. It is projected to grow at a compound annual rate (CAGR of 5.6%) between 2019 and 2025. This market's growth is due to increased veganism and a rising demand for vegan baking ingredients. There has also been continuous research and development.

The market is expected to grow due to a rise of vegan restaurants and the expansion of the products offered by food chains. Germany, for example, has many vegan restaurants, including Lucky Leek in Berlin that serve vegan-based pancakes or burgers.

There has been a lot of competition in the market for vegan food products. This has led to an increase in product offerings. In South Korea, for example, a Starbucks branch added vegan focaccia bread to its menu. This increased market demand was reflected in the expanded vegan product range. Food manufacturers are constantly coming up with new products to meet consumer demand.

Bakels, for example, opened a new distribution facility in Bicester in 2018 with a total of 80,000 square feet. This was to store finished goods in response to growing demand. Online retailers are also focusing on adding vegan-based bread products to meet the growing demand. Waitrose & Partners is a British supermarket chain that has created sections specifically for vegan products and provides a wide distribution network.

The market is also being driven by a growing awareness of health issues around the world and increased demand. These ingredients lower the risk of developing chronic diseases like diabetes, certain cancers, and heart disease. Due to its health risks, bread consumption has declined in recent years. This has led to the demand for healthier, gluten-free alternatives.

The largest market share for vegan baking ingredients was held by Europe. Around 11,000 tons of vegan baking ingredient were purchased in the U.K. in 2018. Europe is the biggest bread-producing region. The region also has the highest standards in food quality. This region continues to research and improve vegan ingredients. Artisan Bread Organic has launched a vegan hamburger with 100% organic ingredients in the U.K.

Product Insights

This market can be divided by product into oils, sweeteners and flavoring agents. The largest share, 37.5%, was held by flour in 2018, and will see the most growth due to its many applications in bakery products like cookies, cakes and bread. It is medium in protein, ranging from 9% to 12 percent. This makes it elastic and suitable for baking cakes and cookies. Gluten-Free is a top manufacturer of vegan flours and bakery mixes, such as muffin mix, bread and roll mix, and cake mix.

The companies' product innovations are making flour more popular. Companies are developing new varieties of vegan flours such as almond flour and buckwheat flour, as well as sorghum flour and teff. Blue Diamond Almonds, Bob's Red Mill Natural Foods, and Bob's Red Mill Natural Foods lead the manufacture of almond flour. These flours have many other benefits, including gluten-free, rich vitamins, minerals, and antioxidant capabilities.

End Product Insights

This market can be divided by product, such as cakes and pastries or bread and rolls, cookies and biscuits, and other products. Bread and rolls accounted for more than 40% of the market in 2018, due to their high consumption both in Western countries and at the global level. This segment growth can be attributed to a significant demand for healthier bread options, which has driven manufacturers to produce vegan-based loaf. In the U.S., Trader Joe's grocery chain introduced vegan banana bread loaf to all of its stores.

Over the forecast period, the cakes and pastries category is expected to grow at 6.8% CAGR. Cookies and biscuits are next. The segment is driven by changes in consumer tastes and increased demand for premium baked goods from the APAC region. The National Institute of Diabetes and Digestive and Kidney Diseases, (NIDDK) estimates that 68.0% of the global population is lactose-intolerant. The growth of the cake and pastries market can be hampered by the presence of milk, which is why vegan cakes and pastries are so popular. German Bakery in India offers a variety of vegan cakes in a range of flavors.

Regional Insights

The largest share, 34.1%, was held by Europe in 2018. These ingredients are used in Europe's food industry because they meet the demands of large consumers. The European food industry is also inclined to innovation and improvement in food products to satisfy the vegan consumer demand. SAFE- Vegan and Vegetarian Working Group in Europe made it clear that the EU needed a vegetarian and vegan legislation.

APAC is the fastest growing region. It has a 6.3% CAGR from 2019 to 2025. This market is driven by an increase in disposable income and the industrial development. This market is driven by an increase in standard of living and changes in food preferences. Pompadour, a Japanese bakery chain, launched vegan curry bread in all its outlets. It is made from organic and clean ingredients.

Market Share Insights & Key Companies

Major players in the market focus on expanding their businesses in emerging markets such as Central and South America, Asia Pacific, Central, and South America, the Middle East, and Africa.

The market's leading players focus on product launches and portfolio expansion to gain an edge. Ingredion, for example, launched potex, a new product made with potato fibers. This product enhances the texture and freshness and is available in a variety of flavors. Cargill has signed agreements with six North American distribution channel partners to grow and strengthen its regional network. The following are some of the most prominent players in vegan baking ingredients:

• Associated British Foods

• BASF SE

• Kerry

• DuPont

• Dohler Group

• Dawn Food Products

Up Market Research published a new report titled “Vegan Baking Ingredients Market research report which is segmented by End Product (Breads & Rolls, Cakes & Pastries), by Product (Oils, Flour), By Players/Companies Associated British Foods, Kerry, BASF SE, Dohler Group, Dawn Food Products, DuPont”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Vegan Baking Ingredients Market Report Segments:

The market is segmented by End Product (Breads & Rolls, Cakes & Pastries), by Product (Oils, Flour).

Vegan Baking Ingredients Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Vegan Baking Ingredients Market

Overview of the regional outlook of the Vegan Baking Ingredients Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Vegan Baking Ingredients Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Vegan Baking Ingredients Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Breads & Rolls

                2. Cakes & Pastries

                1. Oils

                2. Flour

8. Market scenario by region, sub-region, and country.
9. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
10. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
11. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Vegan Baking Ingredients Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

How you may use our products:

• Correctly Positioning New Products
• Market Entry Strategies
• Business Expansion Strategies
• Consumer Insights
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• Product & Brand Management
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Reasons to Purchase the Vegan Baking Ingredients Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.