Vegan Baking Ingredients Global Market Report 2024

Vegan baking ingredients find application in creating alternatives to artificial and processed elements commonly used in the baking industry, offering plant-based options devoid of animal-derived by-products.

The primary categories of vegan baking ingredients encompass starch, raising agents, emulsifiers, baking powder, mixes, vegetable oil, colors and flavors, and enzymes. Starch, a carbohydrate, is utilized for thickening or stabilizing food products. These vegan baking ingredients come in two main variations - conventional and organic - and are employed in the preparation of various products, including cakes and pastries, biscuits and cookies, as well as bread and buns.

The vegan baking ingredients market research report is one of a series of new reports that provides vegan baking ingredients market statistics, including vegan baking ingredients industry global market size, regional shares, competitors with a vegan baking ingredients market share, detailed vegan baking ingredients market segments, market trends and opportunities, and any further data you may need to thrive in the vegan baking ingredients industry. This vegan baking ingredients market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The vegan baking ingredients market size has grown strongly in recent years. It will grow from $1.81 billion in 2023 to $1.96 billion in 2024 at a compound annual growth rate (CAGR) of 8.3%. The expansion observed in the historical period can be attributed to the heightened adoption of vegan and plant-based diets, a growing awareness of animal welfare and ethical considerations, health and wellness trends fueling demand for healthier ingredients, the pursuit of allergen-free and intolerance-friendly baking solutions, and the broadening 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 $2.76 billion in 2028 at a compound annual growth rate (CAGR) of 9.0%. The anticipated growth in the forecast period can be linked to the expansion of markets in developing countries, collaborative efforts and partnerships for ingredient development, heightened consumer interest in clean label and non-GMO ingredients, and an increasing demand for convenient baking solutions. Key trends projected in the forecast period encompass technological advancements in vegan ingredient alternatives, the development of plant-based milk and butter alternatives, the availability of gluten-free and grain-free flour options, the use of natural sweeteners and sugar alternatives, and the incorporation of functional ingredients for nutritional enhancement.

The anticipated growth of the vegan baking ingredients market is attributed to the increasing awareness of health and evolving food preferences. Health awareness, encompassing knowledge about healthcare, medical needs, and preventive measures, has prompted a shift toward a vegan diet due to its plant-based nature and perceived health benefits. During the COVID-19 pandemic, 70% of respondents in a survey by The Times of India expressed a priority for food and lifestyle improvements in 2021 to manage both emotional and physical health. Similarly, a Beneo study revealed that 6 out of 10 European consumers actively seek healthier nutrition by substituting snacks with meals featuring nutritious ingredients. This trend is a driving force behind the vegan baking ingredients market.

The growth of the vegan baking ingredients market is further fueled by the increasing adoption of vegan food. Vegan food, characterized by the absence of animal products, aligns with a plant-based diet using fruits, vegetables, grains, legumes, nuts, and seeds. With benefits such as sustainability, health advantages, and culinary creativity, vegan baking ingredients cater to individuals with allergies or dietary restrictions. According to the Good Food Institute (GFI) Europe, European plant-based food sales surged by 22% since 2020, reaching a total value of $5.7 billion. Plant-based meat sales witnessed a 21% growth, while conventional meat sales declined by 8%, highlighting the rising popularity of vegan food and its impact on the vegan baking ingredients market.

A notable trend in the vegan baking ingredients market is product innovation, with major companies introducing novel solutions to meet consumer demands. Plantible Foods, a US-based biotech company, launched Rubi Whisk, a functional ingredient derived from RuBisCO protein in Lemna plants, serving as an egg replacement in various baked goods. This innovative vegan baking ingredient is free from eggs and gluten, offering both flavor and functionality.

Major companies in the vegan baking ingredients market are concentrating on innovative solutions, including vegan-certified products such as sponge cake mixes, to stay competitive. Dawn Foods, a US-based bakery manufacturing company, introduced a vegan-certified sponge cake mix, part of its vegan range approved by the V-label. The vegan sponge cake mix replicates the taste, texture, and functionality of conventional mixes without the use of eggs, showcasing the industry's commitment to providing sustainable and allergy-friendly options.

In March 2021, Dawn Foods enhanced its global presence and product portfolio by acquiring JABEX, a family-owned Polish manufacturer specializing in high-quality fruit-based products for the bakery industry. This strategic move strengthens Dawn Foods' operations and supply chain in Central and Eastern Europe, reinforcing its commitment to delivering high-quality, innovative vegan baking ingredients.

Major companies operating in the vegan baking ingredients market include Associated British Foods PLC, BASF SE, 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, Amy's Kitchen, Quorn Foods Ltd., Violife Holdings BV, Hain Celestial Group, Beyond Meat Inc., Impossible Foods Inc., 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, FrieslandCampina NV, Barry Callebaut AG, Olam Internationa Ltd.

Europe was the largest region in the vegan baking ingredients market share in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in global vegan baking ingredients market analysi report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the vegan baking ingredients market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The vegan baking ingredients market consists of sales of apple cider vinegar, barley malt, and buckwheat flour. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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