The global vegan flour market is expected to reach a valuation of US$ 1.1 Bn in 2022, with sales growing at a CAGR of 6.5% over the forecast period. Against this backdrop, the market valuation is set to top US$ 2.08 Bn by 2032.
Increasing preference for plant-based ingredients in food products is expected to drive sales in the market. Some vegan flours available in the market are brown rice flour which is being used in sweets and savoury dishes due to its thicker consistency and sweet taste.
Almond flour is a high source of proteins and fibres and is used in making cookies, pancakes that are low-carb and help to lose weight. Coconut flour is used to sweeten up deserts and has a high source of fibre. The availability of a wide variety of vegan flours, coupled with increasing expenditure on plant-based food ingredients is expected to boost demand for vegan flour.
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Key players are focusing on packaging and labelling to enhance shelf life of vegan flour. They are offering effective packaging solutions that can be resealed easily to protect the flour from getting contaminated, prevent termite attacks and fungi formation.
“Manufacturers are focusing on developing functional properties of vegan flour. Increasing incorporation of vegan flours in processed foods and snacks is anticipated to create opportunities for growth in the market,” says the FMI analyst.
Key Takeaways:
- Demand for vegan flour in the U.S. is expected to total US$ 192 Mn in 2022. Sales in the North America vegan flour market are forecast to grow at a 6.2% CAGR.
- India will emerge as a lucrative market, with total sales reaching a valuation of US$ 98 Mn in 2022.
- Sales in Germany will continue gaining traction over the forecast period, with the Europe vegan flour market reaching US$ 200 Mn.
- By application, sales in the food and beverage industry hold the largest market share and are expected to increase at a CAGR of 6.5%.
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Competitive Landscape
Key manufacturers of vegan flour are investing in research & development to offer differentiated products with no chemical components. They are also launching new product lines to penetrate untapped markets. For instance:
- In 2019, Irish-based functional ingredient supplier Healy Group introduced PrimaTex, a plant-based pea protein with numerous end-uses. This launch is in collaboration with British pea ingredient supplier, Novo Farina, which uses UK-harvested, milled pea flour for minimal carbon footprint.
Vegan Flour Market By Category
By Type:
- Soy Flour
- Oat Flour
- Quinoa and Rice Flour
- Nut-based Flour
- Cereal based flour
By Nature:
- Organic
- Conventional
By Application:
- Bakery Products
- Soups, Sauces & Dressings
- Confectionaries
- Functional Foods
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- MEA
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Key Questions Answered in the Report
- What is the current global vegan flour market size?
- What is the projected global vegan flour market size?
- At what rate did sales in the global vegan flour market between 2017-2021?
- What is the Europe vegan flour market demand outlook?
- What are the key trends boosting sales of vegan flour?
- What is the North America vegan flour market outlook?
About FMI:
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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