Global Vegan Baking Mix Market Size to Exceed USD 1.69 Billion by 2033 | CAGR of 5.27 %
Category: Food & BeveragesGlobal Vegan Baking Mix Market Size to Exceed USD 1.69 Billion by 2033
According to a research report published by Spherical Insights & Consulting, The Global Vegan Baking Mix Market is Expected to Grow from USD 1011 Million in 2023 to USD 1.69 Billion by 2033, at a CAGR of 5.27 % during the forecast period 2023-2033.
Get more details on this report -
Browse key industry insights spread across 234 pages with 116 Market data tables and figures & charts from the report on the "Global Vegan Baking Mix Market Size, Share, and COVID-19 Impact Analysis, By Type (Cake Mix, Bread Mix, Pancake & Waffle Mix, Others), By Distribution Channel (Supermarkets/Hypermarkets, Specialty Stores, Online Retail, Others), By End User (Household, Bakery, Foodservice), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033. " Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/vegan-baking-mix-market
The vegan baking mix market includes the portion of the food market that deals in pre-packaged, ready-to-use mixes aimed at baking animal-free products. These mixes will be used for consumers who pursue a vegan lifestyle or those merely seeking plant-based alternatives in baking. Vegan baking mixes usually will not contain milk, eggs, or other items that are animal-based, rather using plant-based alternatives such as almond milk, flaxseed, or coconut oil. Moreover, many customers are adopting plant-based diets mainly for the health advantages that come from not consuming animal products, for instance, reducing cholesterol and saturated fats. Vegan baking mixes appear healthier compared to baking mixes of non-vegans since they contain less artificial production and are lower in fat compared to most baked goods. The rising number of people suffering from dairy, egg, and other animal-based ingredient food allergies has created a demand for vegan baking mixes as a safe alternative for people with these common allergens. This is a significant reason for the popularity of vegan baking mixes. However, vegan ingredients, especially organic or specialty plant-based products such as almond flour, coconut oil, and plant-based proteins, tend to be more costly than their animal-based counterparts. This may sometimes make the production cost of vegan baking mixes higher, thereby making the final product more costly for the consumer, which would limit its demand.
The cake mix segment accounted for the highest share in 2023 and is projected to grow at a substantial CAGR during the forecast period.
Based on the type, the vegan baking mix market is divided into cake mix, bread mix, pancake & waffle mix, and others. Among these, the cake mix segment accounted for the highest share in 2023 and is projected to grow at a substantial CAGR during the forecast period. The growth is driven by cakes, among other treats, which are considered staple goods in most homes for celebrating special moments and sweet treats. By making vegan cake mixes so accessible, consumers can be sure to bake their favorite treats without including any animal-based ingredients that add to the product's domination in the market.
The supermarkets/hypermarkets segment dominated the market in 2023 and is anticipated to grow at a significant CAGR during the forecast period.
Based on the distribution channel, the vegan baking mix market is divided into supermarkets/hypermarkets, specialty stores, and online retail. Among these, the supermarkets/hypermarkets segment dominated the market in 2023 and is anticipated to grow at a significant CAGR during the forecast period. The growth is attributed to supermarkets and hypermarkets offering the opportunity for in-person shopping, with the ease to browse and select vegan baking mixes while shopping for other groceries, thus encouraging impulse purchases and repeated consumer visits.
The household segment accounted for the biggest share in 2023 and is expected to grow at a substantial CAGR during the forecast period.
Based on the end user, the vegan baking mix market is divided into household, bakery, and foodservice. Among these, the household segment accounted for the biggest share in 2023 and is expected to grow at a substantial CAGR during the forecast period. The segmental growth is due to vegan baking mixes being an easy way to make vegan baked goods in a household without the consumers having to source or measure multiple ingredients. Consumers enjoy the ease and convenience these mixes provide, especially in home kitchens.
North America holds the majority share of the global vegan baking mix market during the forecast period.
Get more details on this report -
North America holds the majority share of the global vegan baking mix market during the forecast period. Veganism and plant-based eating have rapidly increased in the U.S. due to health, ethical, and environmental reasons. This directly influences demand for more vegan foodstuffs, like baking mixes. North America-based health-conscious consumers are increasingly going for plant-based alternatives that comply with their diet preferences, boosting demand for vegan baking mixes.
Asia Pacific is estimated to grow at the fastest pace in the global vegan baking mix market during the forecast period. Increasing health awareness in the APAC region, with consumers who are now more aware of the adverse health implications associated with animal-based product consumption, such as cholesterol and saturated fat. Vegan diets are perceived as healthier, and this is reflected in the increasing demand for vegan-friendly products, such as vegan baking mixes. In addition, in the APAC region, the growing concerns regarding food allergies and intolerances of dairy and eggs are increasingly leading to higher demands for vegan alternatives.
Major vendors in the global vegan baking mix market are Pamela's Products, Simple Mills, To Your Health, Ener-G Foods, Hodgson Mill, Bob's Red Mill, Dr. Oetker, Kinnikinnick Foods, Bakels, Ingredion, Lallemand, Pak Group, Kerry Group, Others.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Key Market Development
- In August 2024, Laird Superfood announced its line of easy-to-make, plant-based Homemade Baking Mixes with the launch of its third mix in the collection: Homemade Pancake & Waffle Baking Mix. Delicious and plant-powered, made with real, whole-food ingredients and containing veggies for a 'Better Food, Better You' family of baking products, every one of these baking mixes from Laird Superfood is gluten-free and vegan with no egg ever necessary.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the vegan baking mix market based on the below-mentioned segments:
Global Vegan Baking Mix Market, By Type
- Cake Mix
- Bread Mix
- Pancake & Waffle Mix
- Others
Global Vegan Baking Mix Market, By Distribution Channel
- Supermarkets/Hypermarkets
- Specialty Stores
- Online Retail
- Others
Global Vegan Baking Mix Market, By End User
- Household
- Bakery
- Foodservice
Global Vegan Baking Mix Market, By Regional
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.
Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
CONTACT US:
For More Information on Your Target Market, Please Contact Us Below:
Phone: +1 303 800 4326 (the U.S.)
Phone: +91 90289 24100 (APAC)
Email: inquiry@sphericalinsights.com, sales@sphericalinsights.com
Contact Us: https://www.sphericalinsights.com/contact-us
Need help to buy this report?