Consumer awareness of allergy-friendly and plant-based alternatives driving growth in vegan baking ingredients
Launched in summer 2022 – Wrights’ new vegan savoury pastry range including a Vegan Chicken & Mushroom Pie and Vegan Steak Pie.
Image: Wrights Food Group
According to Fact.MR, the global vegan baking ingredients market size is expected to reach a value of US$3.6 billion by the end of 2033, driven by the growing adoption of plant-based diets, fuelled by concerns related to animal welfare, health, and environmental sustainability.
As consumers become increasingly conscious of the environmental consequences of animal agriculture, they are actively seeking cruelty-free alternatives.
Europe market witnessed a market share of 35% in 2023. Moreover, France and the UK are expected to offer better returns on investments when compared to Asian countries. Also, the US is expected to offer lucrative opportunities due to the rising popularity of vegan food and the establishment of vegan food restaurants.
China and India are expected to witness high growth due to a hike in the popularity of veganism.
“Increasing consumer awareness of environmental sustainability and animal welfare concerns, growing demand for in baking, and ongoing innovation and development of high-quality vegan baking ingredients are some driving factors of the industry,” says Fact.MR. expert
Vegan baking ingredients serve as plant-based substitutes for animal-derived products commonly used in baking. They are characterised by their ethical treatment of animals, as they do not involve any form of animal exploitation. Moreover, these ingredients exhibit superior environmental sustainability by requiring fewer resources and emitting fewer greenhouse gases, says the market researcher.
Their composition, low in saturated fats and cholesterol, makes them suitable for diverse dietary preferences, thereby offering health advantages. Vegan ingredients are also well-suited for individuals with allergies or specific dietary requirements.
Fact MR. highlights winning strategies as
- Less processing. In the vegan baking ingredients market, customers prefer ingredients with simple names and minimal processing. This is because people want to know what’s in their food and often choose ingredients that are easy to understand. Additionally, less processing is seen as healthier and more natural.
- Allergy free. Providing options without common allergens like gluten, nuts, or soy is important. This helps a wider range of people with specific dietary needs or allergies. For example, those with celiac disease need gluten-free options, while people with nut allergies require nut-free choices. Addressing these needs fosters inclusivity and draws a niche consumer base.
- Influencers. Partnering with influencers and respected chefs who advocate for plant-based diets in the vegan baking ingredients market can significantly boost brand recognition and trust among consumers. Their endorsement reaches a wide audience interested in vegan products and adds credibility to the brand’s offerings.
These insights are based on a report on Vegan Baking Ingredients Market by Fact.MR.
