The Business Research Company’s report on the Vegan Baking Ingredients Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
Which emerging drivers are set to accelerate the growth of the vegan baking ingredients market further?
The growing health awareness and changing food preference is expected to propel the growth of the vegan baking ingredients market going forward. Health awareness is the knowledge and awareness of health, healthcare, medical needs, diseases, and preventive actions in general. Health awareness made people shift towards a vegan diet, as they are plant-based food and a healthier forms of food one can consume. For instance, in May 2023, according to the Organic Industry Survey released by the Organic Trade Association, a US-based membership-based business association, organic food sales in the United States in 2022 were 61670, up from 4.3% in 59149 in 2021. Therefore, the growing health awareness and changing food preferences is driving the vegan baking ingredients market.
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What are the key factors influencing the forecasted market size of the vegan baking ingredients industry?
The vegan baking ingredients market size has grown strongly in recent years. It will grow from $1.96 billion in 2024 to $2.12 billion in 2025 at a compound annual growth rate (CAGR) of 8.3%. The growth in the historic period can be attributed to increased adoption of vegan and plant-based diets, growth in concerns about animal welfare and ethics, health and wellness trends driving demand for healthier ingredients, allergen-free and intolerance-friendly baking solutions, expansion of vegan and specialty food retail channels
The vegan baking ingredients market size is expected to see strong growth in the next few years. It will grow to $3.03 billion in 2029 at a compound annual growth rate (CAGR) of 9.4%. The growth in the forecast period can be attributed to market expansion in developing countries, collaborations and partnerships for ingredient development, consumer interest in clean label and non-gmo ingredients, growing demand for convenience baking solutions. Major trends in the forecast period include technological advancements in vegan ingredient alternatives, plant-based milk and butter alternatives, gluten-free and grain-free flour options, natural sweeteners and sugar alternatives, functional ingredients for nutritional enhancement.
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Who are the leading competitors 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.
Which emerging trends are set to transform the vegan baking ingredients market landscape?
Product innovation is a key trend gaining popularity in the vegan baking ingredients market. Major companies operating in the vegan baking ingredients market are coming up with new and innovative innovations to serve their customers. For instance, in June 2023, Plantible Foods, a US-based biotech company, launched Rubi Whisk, a functional ingredient that is used to replace eggs in the commercial production of bread, donuts, cookies, cakes, pastries, and pasta. The company takes the RuBisCO protein out of a Lemna plant in order to manufacture the component. The powdered Rubi protein RuBisCO has no taste, smell, or color and can be used in place of or in addition to animal proteins due to its unique qualities. Rubi Whisk is a vegan baking ingredient that is free from eggs and gluten and is full of flavor and functionality.
How do different geographies compare in terms of market share and growth potential 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.
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Which major segments of the vegan baking ingredients market are experiencing the fastest growth?
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 is the vegan baking ingredients market defined, and what are its core characteristics?
The vegan baking ingredients are used for baking various products that are good alternatives for artificial and processed ingredients and foods usually used in the baking industry. Vegan baking ingredients are components that do not contain any by-products or products derived from animals.
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