Vegan Baking Ingredients Market: Key Insights and Opportunities Expected to Grow Till 2028

Posted on 2019-05-08 by Mark Hub in Food & Beverage // 0 Comments

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The purpose of this rich study presented by Fact.MR is to elaborate the various market projections impacting the global vegan baking ingredients market during the period until 2028. This assessment delivers high-end statistics concerning market size, Y-o-Y growth in trends and revenue share (grow at 6% CAGR) linked to different geographies and segmentation types. Readers can acquire precise insights about growth trends along with opportunities that are expected to reshape the overall structure of the vegan baking ingredients market during the forecast period.

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The vegan baking ingredients market remains highly consolidated with leading players holding over 50% of the market share. These vegan baking ingredients producing giants are focusing on scaling their production facilities, launching innovative and novel products, and strengthening their distribution network to extend their global reach in the vegan baking ingredients market. Some of the notable developments in the vegan baking ingredients market have been listed below:

Ingredion, a leading player in the vegan baking ingredients market launched a novel product, potex, which is manufactured using potato fibers and will enhance the texture, freshness, and visual appeal of vegan bakery products. The launch of the product is aimed to cater to the needs of vegan bakeries who are seeking products which could aid them in producing bakery goods with texture and appeal similar to that of the normal bakery products.
Lallemand recently made two new additions to its line of yeast products in Instaferm and VitaD. The new products launched were Instaferm Inactive and VitaD Plus Concentrate yeasts which are rich in vitamin D content. The vitamin D in the yeast is obtained from natural plant-based sources and aid in the production of an assortment of vegan bakery goods.
Pak Group, a vegan baking ingredients manufacturer, recently launched a vegan egg wash replacer under its brand Bellarise. The product named Bellarise Shine provides a vegan alternative to commercial bakeries for achieving the ideal glaze for clean label bakery goods.
Cargill, a prominent player in the vegan baking ingredients market, signed a fresh agreement with six distribution partners in North America to strengthen its network in the continent.
Vegan baking ingredients supplier, Bakels opened a new distribution center in Bicester in 2018. Built with an investment of £10 million, the company plans to use the 80,000 square foot facility to store finished goods as demand for vegan bakery ingredients continues to burgeon.

Key players profiled in the vegan baking ingredients market report include Associated British Foods, BASF SE, Kerry, DuPont, Dohler Group, Kerry, and Dawn Food Products.

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The avian influenza outbreak and its extended prevalence among birds is creating a shortage in supply of eggs worldwide. The epidemic is causing seasonal fluctuations in the prices of eggs. Further, consumers across Europe and the USA are increasingly preferring bakery goods manufactured using egg alternatives, after traces of fipronil were found in eggs in 2017 and 2018. European Union is expected to levy high import charges on egg powder in 2019 making it a high priced ingredient for use in baking. Baking industry is gradually shifting to using egg replacement ingredients in the production of their goods to shield themselves from the egg price volatility and lure in more consumers.

Baking industry is struggling to produce quality vegan baked goods, owing to the loss of functionality, texture, and mouthfeel that eggs provide. Finding ingredients that can potentially replace eggs in vegan baked goods limits the scope of development for the baking industry. However, innovations in vegan baking ingredient manufacturing are slowly enabling bakeries to bridge the gap between vegan baked goods and normal bakery items. Numerous companies are working towards the production of vegan baking ingredients that could mimic the texture and taste of bakery products. For instance, KaTech, a leading manufacturer of stabilizers and emulsifies, announced the launch of new bakery concepts tailored to address the shortcomings in the vegan bakery ingredients.

Powdered egg replacers are being manufactured to provide enhanced texture, as they are capable of adding fluffiness in addition to providing the medium required to bind ingredients in bakery products. Additionally, vegan baking ingredients manufacturers are working towards the development of stabilizers that provide for a better texture and mouthfeel. The increasing number of innovations are estimated to meet the diverse demand of consumers and aid in vegan baking ingredients market proliferation.

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