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Vegan Baking Ingredients Global market Report 2024 : Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company's Vegan Baking Ingredients Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
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LONDON, GREATER LONDON, UNITED KINGDOM, September 18, 2024 /EINPresswire / -- The vegan baking ingredients market has experienced robust growth in recent years, expanding from $1.81 billion in 2023 to $1.96 billion in 2024 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.
What Is The Estimated Market Size Of The Global Vegan Baking Ingredients Market And Its Annual Growth Rate?
The vegan baking ingredients market is projected to continue its strong growth, reaching $2.76 billion in 2028 at a compound annual growth rate (CAGR) of 9.0%. 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.
Explore Comprehensive Insights Into The Global Vegan Baking Ingredients Market With A Detailed Sample Report:
Growth Driver Of The Vegan Baking Ingredients Market
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 healthier forms of food one can consume.
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Who Are The Key Players Shaping The Vegan Baking Ingredients Market Trends?
Key players 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.
What Are The Dominant Trends In Vegan Baking Ingredients Market Growth?
Major companies operating in the vegan baking ingredients market are increasing their focus on introducing innovative solutions, such as vegan-certified sponge cake mixes, to gain a competitive edge in the market. Innovative vegan baking ingredient solutions involve using plant-based alternatives to animal-derived products to create vegan baked goods. These solutions promote sustainability, offer health benefits, and cater to those with allergies or dietary restrictions.
How Is The Global Vegan Baking Ingredients Market 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,
Geographical Insights: Europe Leading The Vegan Baking Ingredients Market
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 the vegan baking ingredients market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Vegan Baking Ingredients Market Definition
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 Global Market Report 2024 from TBRC covers the following information:
.Market size data for the forecast period: Historical and Future
.Macroeconomic factors affecting the market in the short and long run
.Analysis of the macro and micro economic factors that have affected the market in the past five years
.Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
.Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An overview of the global vegan baking ingredients market report covering trends, opportunities, strategies, and more
The Vegan Baking Ingredients Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on vegan baking ingredients market size, vegan baking ingredients market drivers and trends, vegan baking ingredients market major players, vegan baking ingredients competitors' revenues, vegan baking ingredients market positioning, and vegan baking ingredients market growth across geographies. The vegan baking ingredients market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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