The global vegan baking ingredients market is anticipated to grow with a lucrative CAGR during the forecast period. The growth of the vegan baking ingredients market is attributed to the consumer’s increasing adoption of a vegan diet into their daily lifestyle all across the globe. The recent shift in consumer behavior is driving the market players in the baking industry to replace traditional ingredients with vegan ingredients in their product offerings. Furthermore, a growing interest in eco-friendly and ethical products has also surged the demand for vegan bakery ingredients. Moreover, a positive trend in the vegan diet is expected to be witnessed due to the COVID-19 pandemic. All these factors are anticipated to significantly drive the vegan baking ingredients market during the forecast period.
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Additionally, animal welfare is also gaining considerable momentum across the globe. The animal husbandry practices across the globe are getting significant backlash from animal welfare societies and conscientious consumers. In addition to this, the increasing concerns about egg production practices and identification of egg as a common allergen are also providing an opportunity for the expansion of the vegan baking ingredients industry.
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Vegan baking is also providing various new options for the development and the opportunity to focus on the flavours of baked goods. Additionally, the increasing use of aquafaba that mimics the exact properties of eggs is also gaining significant popularity in the vegan baking ingredients market. In addition to this, the availability of different commercial replacements of eggs made from pulses and/or seeds will also drive the growth of the vegan baking ingredients market.
The consumers are also demanding clean labels and gluten-free products made from plants which will also impact the future of vegan baking ingredients in the bakeries. Besides, shelf life, nutrition, and indulgence are a few of the concerns related to vegan baking ingredients which will hamper the growth of the vegan baking ingredients market during the forecast period. However, the manufacturer’s increasing focus towards whole and ancient grains for both nutritional and functional benefits will present new opportunities for the vegan baking ingredients market during the forecast period.
Global Vegan Baking Ingredients Market- Segmentation
By Product
- Emulsifier
- Colors & Flavors
- Raising Agents
- Others
By End Product
- Cakes & Pastries
- Bread & Rolls
- Biscuits & Cookies
- Edible Oils
- Others
By Type
- Organic Ingredient
- Conventional Ingredient
