The Vegan Desserts Market has had remarkable growth as a result of growing consumer knowledge of environmental issues and health benefits, which has increased demand for dessert options free of cruelty. With growth expected to reach $6.7 billion by 2033, major worldwide contributors like the US, UK, Germany, and Japan, as well as growing veganism and continued market research, are the main drivers of this expansion.
The market for vegan desserts has grown significantly in recent years, primarily due to consumer awareness of the benefits for the environment and their personal health. The demand for delicious dessert options free of cruelty has surged as more and more individuals transition to plant-based diets. Better ingredient substitutes and innovative goods have propelled the market’s expansion, presenting a promising future.
The market for vegan desserts is expected to increase from $3205.07 million in 2023 to $6698.1 million in 2033. Demand for vegan desserts is rising as a result of ongoing market research and the expanding appeal of veganism. As a result, the market for vegan desserts is projected to grow at a compound annual growth rate (CAGR) of 8.5%, with the US, UK, Germany, and Japan emerging as the top producers.
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Both the acceptance of veganism and the variety of products that are suitable for vegans have exploded in recent years. Thanks to the efforts of creative chefs, the market is saturated with plant-based sweet dinners that are visually and gastronomically comparable to their more traditional counterparts.
More and more chefs from around the world are experimenting with vegan desserts and developing innovative new dishes. For instance, Chef Fran Costigan, who is well-known as a pioneer in the vegan desserts business, provides consultations, cooking schools, and classes in addition to vegan dessert recipes and publications.
The number of people using these services has increased, which has been good for business. Restaurants and cafés are adding vegan desserts to their menus to accommodate the growing number of customers who have food allergies or intolerances, such as egg, dairy, or cholesterol. And the widespread accessibility of plant-based milks and fats has only served to increase the availability and sales of vegan desserts.
In addition, businesses have been prompted to include healthier components in their products due to a growing concern for customer health. Examples include the widespread avoidance of items containing white sugar as people become more informed about the health risks associated with this refined sweetener. As a result, manufacturers have begun to substitute sugar alternatives like sweet potato.
Innovative vegan food packaging is expected to see rising adoption, which is expected to boost the development of the industry.
Sustainable food packaging materials for meat-free items are in high demand because vegan dietary groups are generally concerned with environmental issues. More and more shoppers are placing a premium on accurate product labelling; as a result, vegan food producers like Oatly now include carbon labelling information on their tins and jars. As an added bonus, the American Firm No Evil Foods Sacred Serve is spending money to create cutting-edge sustainable packaging for its goods.
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Key Takeaways
- Given the robust increase in demand for bakery items and the expanding vegan trend, it’s likely that European customers are likely to make up the greatest share of the target audience for vegan desserts. Due to the high volume of tourists passing through Germany, Italy, and France, there is a growing vegan desserts industry
- Due to rising demand from customers with dietary restrictions (such as egg allergies, lactose intolerance, or excessive cholesterol), vegan desserts are increasingly appearing on the menus of restaurants and cafes.
- Companies like Nestle are responding to the rising demand for vegan products by introducing non-dairy lines, such as Haggen-Dazs ice cream, to markets like the United States.
- Increased demand from consumers has led to healthy expansion for vegan milk.
Massive production and the introduction of vegan bakery chains have coincided with a rise in demand.
Because of the dramatic development in veganism’s adherent base and the increasing demand for vegan bakery goods, manufacturers have begun producing vegan baked goods on a massive scale.
Greggs, a major British bakery brand, recently reported a shortage of its new vegan sausage roll offering, indicating a rise in demand for such goods.
Vegan baked goods have seen a dramatic surge in popularity, leading to the opening of vegan bakeries all over the world. When online retailers saw the huge demand for vegan baking supplies during Great British Bake-Off Week, they revealed plans to open a dedicated vegan online baking store in 2018.
New vegan product lines are being introduced by many existing bakeries in response to the rising demand for vegan desserts. Large-scale investments in vegan baking establishments are predicted to increase demand for vegan desserts.
Businesses have been diversifying their offerings to attract a wider range of customers. So, Unilever introduced its Magnum brand of plant-based ice cream to the Swedish and Finnish markets in August of 2018. Currently, the brand is known as Magnum Dairy Free. Another Unilever-owned brand, Cornetto, also offers a dairy-free ice cream option.
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Some of the most well-known names in vegan desserts industry are:
- Unilever
- Danone, S.A.
- Cado
- Ben & Jerry’s Homemade, Inc.
- BOSH!
- Grupo Bimbo
- OGGS
- Daiya Foods Inc.
- Alternative Foods
Key Segments
By Product:
- Biscuits/Cookies
- Cakes & Pastries
- Custard & Puddings
- Frozen Desserts (Ice-creams, Yogurts, etc.)
- Others
By Flavor:
- Unflavored
- Vanilla
- Chocolate
- Others (banana, strawberry, etc.)
By Form:
- Liquid
- Solid
By Distribution Channel:
- E-commerce
- Offline
- Vitamins & Supplements Stores
- Retail and Departmental Stores
- Supermarkets
- Vegan Fairs
- Others
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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