Exploring Healthy Alternatives: Insights and Projections for the Vegan Flour Market

The vegan flour market is anticipated to expand its roots at an average CAGR of 4.0% between 2023 and 2033. The market is expected to have a market share of US$ 2.18 billion by 2033 while it is likely to be valued at US$ 1.51 billion in 2023

• The success of the vegan movement, growing animal sensitivity, and global societal trends are converting individuals to veganism. Furthermore, the numerous health benefits linked with vegan products such as vegan flour are driving up demand for vegan flour.
• The growing number of lactose-intolerant persons, combined with people embracing a vegetarian or vegan lifestyle, creates a place for market participants to explore. Furthermore, strong nutritional qualities, low fats, and low carbs assist these goods make it to the end-user’s plate.
• As a result of globalisation and increased exports and imports, both developed and developing countries are changing their eating patterns. As a result, vendors are adopting clean-label and innovative packaging for their products.
• The companies completing their sustainable goals along with the multiple vegan flours for targeted health conditions are expected to flourish the market growth. Moreover, social media influencers and celebrities turning vegan are also expected to transform consumer behavior during the forecast period.

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Key Points

1. The United States market leads the vegan flour market in terms of market share in North America. The United States region held a market share of 31.5% in 2022. The growth in this region is attributed to aware citizens for preventing animal cruelty, expanding veganism, and proliferating vegan food-based businesses.
2. The United Kingdom’s vegan flour market is another significant market in the Europe region. The market thrives at a leading CAGR of 11.0% between 2023 and 2033. The growth is attributed to the new product launches, high health benefits, and helpful impact on multiple chronic diseases.
3. India’s vegan flourmarket thrives at a leading CAGR of 9.0%during the forecast period. The market’s growth is attributed to the rising awareness of the vegan movement and products.
4. China’s vegan flour market also thrives at a CAGR of 10.0% from 2023 to 2033. The growth is attributed to the high imports of flour.
5. Based on product type, the soy flour segment held the leading market share of 45% in 2022. The growth is attributed to the affordable price, high-protein concentration, and easily-digestible properties.
6. The organic segment leads in the nature type category of the market as it held a significant share of 21% in 2022.
7. Based on application, bakery products consume most of the market as it held a leading market share of 32% in 2022.

 Competitive Landscape

The key vendors work on clean-label packaging, enhanced quality, and different vegan flour options. Key competitors also merge, acquire, and partner with other companies to increase their supply chain and distribution channel.

Key Players Working in the Vegan Flour Market

• Conagra Brands, Inc
• Cargill, Incorporated
• Archer Daniels Midland Company
• Ardent Mills LLC
• Spectrum Essentials
• Flour Farm’s
• Let’s Do Organic
• Bob’s Red Mill
• Others

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Recent Market Developments

• Spectrum Essentials has also launched its spectrum essentials soft gels, vegan ultra omega-3 EPA and DHA with vitamin D. The gels come with a lemon flavor.
• Bob’s Red Mill has introduced its 453 g organic coconut vegan flour with Non- GMO and High Fiber qualities.

Key Segments Covered

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
  • The United States
  • Canada
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Europe
  • Germany
  • The United Kingdom
  • France
  • Spain
  • Russia
  • Rest of Europe
• Japan
• Asia Pacific Excluding Japan
  • China
  • India
  • Malaysia
  • Singapore
  • Australia
  • Rest of Asia Pacific Excluding Japan (APEJ)
• The Middle East and Africa
  • GCC Countries
  • Israel
  • South Africa
  • The Middle East and Africa (MEA)

Author

Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.

She has exceptional analytical skills and often brings thought leadership to the table.

Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.

Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor’s Degree in Electrical Engineering from Nagpur University, India.

Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.

About Future Market Insights (FMI)

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