What Has Been The Evolution of the Vegan Baking Ingredients Market in Recent Years?
The vegan baking ingredients market has seen considerable growth due to a variety of factors.
• There has been notable growth in the size of the vegan baking ingredients market in recent years. The market is predicted to expand from a size of $1.96 billion in 2024 to a value of $2.12 billion in 2025, registering a compound annual growth rate (CAGR) of 8.3%.
This historical growth trend can be traced back to factors such as the rising popularity and acceptance of vegan and plant-centered diets, growing concerns related to animal welfare and ethics, the advent of health and wellness trends that fuel the demand for healthier components, the need for baking solutions devoid of allergens and friendly to intolerances, and the widening of vegan and specialty food retail channels.
What Is the Forecasted Market Size and Growth Rate for The Vegan Baking Ingredients Market?
The vegan baking ingredients market is expected to maintain its strong growth trajectory in upcoming years.
• Over the coming years, the vegan baking ingredients market size is anticipated to witness robust growth, escalating to $3.03 billion in 2029, with a compound annual growth rate (CAGR) of 9.4%.
The expansion in the predicted period can be accredited to factors like developing countries' market growth, collaborative efforts for ingredient innovation, consumers' preference for clean labels and non-gmo ingredients, along with a rising demand for convenient baking solutions. The forecast period will see key trends such as technological progress in vegan substitute ingredients, alternatives for plant-based milk and butter, options for gluten-free and grain-free flours, natural replacements for sweeteners and sugar, and nutritious functional ingredients.
Which Factors Are Boosting Growth In The Vegan Baking Ingredients Market?
The rise in health consciousness and shifting dietary preferences are projected to boost the expansion of the vegan baking ingredients market in the future. This awareness of health includes knowledge about healthcare needs, diseases, and precautionary measures, which has led people to gravitate towards a plant-based diet, considering it as a healthier food option. For example, the Organic Industry Survey published by the US-based Organic Trade Association in May 2023 revealed that organic food sales in the United States in 2022 skyrocketed to 61670, marking an increase from 4.3% to 59149 in 2021. Consequently, the evolving health consciousness and change in food choices are fueling the vegan baking ingredients market growth.
What Key Areas Define The Segmentation Of The Global Vegan Baking Ingredients Market?
The vegan baking ingredients market covered in this report is segmented –
1) By Product Type: Starch, Raising Agent, Emulsifier, Baking Powder and Mixes, Vegetable Oil, Colors and Flavors, Enzymes
2) By Nature: Conventional Vegan Baking Ingredients, Organic Vegan Baking Ingredients
3) By Application: Cakes and Pastries, Biscuits and Cookies, Bread and Buns
Subsegments:
1) By Starch: Corn Starch, Potato Starch, Tapioca Starch, Arrowroot Starch
2) By Raising Agent: Baking Soda, Baking Powder, Yeast
3) By Emulsifier: Lecithin, Mono- And Diglycerides, Plant-Based Emulsifiers
4) By Baking Powder And Mixes: Gluten-Free Baking Mixes, All-Purpose Baking Mixes, Specialty Baking Mixes
5) By Vegetable Oil: Coconut Oil, Olive Oil, Canola Oil, Avocado Oil
6) By Colors And Flavors: Natural Colors, Natural Flavors
7) By Enzymes: Amylase, Protease, Lipase.
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How Are Emerging Trends Reshaping The Dynamics Of The Vegan Baking Ingredients Market?
Emerging trends in product innovation are increasingly shaping the vegan baking ingredients market. Leading firms in this market are employing novel approaches in order to cater to their clients. To illustrate, Plantible Foods, a biotech firm based in the US, debuted Rubi Whisk, an effective substitute for eggs in mass production of various foods like bread, donuts, cookies, pastries, cakes, and pasta, in June 2023. The company utilizes the RuBisCO protein from a Lemna plant to create this ingredient. Despite being tasteless, odorless, and colorless, the powdered RuBisCO, known as Rubi, can act as a replacement or supplement to animal proteins due to its distinctive properties. Rubi Whisk, bereft of eggs and gluten, but packed with taste and function, represents an exciting innovation in vegan baking ingredients.
Who Are the Key Players in the Vegan Baking Ingredients Market?
Major companies operating in the vegan baking ingredients market include:
• Associated British Foods plc
• DuPont de Nemours Inc.
• Ingredion Inc.
• Döhler GmbH
• Lallemand Baking Inc.
• Bakels Group JR
• Cargill Incorporated
• Turtle Island Foods Inc.
• Veganz Group AG
• B&G Foods Inc.
• CSM Ingredients SARL
• Koninklijke DSM NV
• Lesaffre Group
• Pak Group BV
• Dawn Food Products Inc.
• Kerry Group plc
• Upfield Holdings BV
• Vitasoy International Holdings Limited
• Violife Holdings BV
• Hain Celestial Group
• Bakels Worldwide
• Puratos Group
• Archer Daniels Midland Company
• Tate & Lyle plc
• Corbion NV
• Roquette Frères SA
• Ingredion Incorporated
• Chr. Hansen Holding A/S
• Kerry Group
• Barry Callebaut AG
• Olam Internationa Ltd.
What Is The Most Dominant Region In The Vegan Baking Ingredients Market?
Europe was the largest region in the vegan baking ingredients market share in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the vegan baking ingredients market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
