Forecasts put the vegan cookies market at US$ 359.23 million in 2023 and at US$ 773.31 million by 2033. Increases in veganism’s popularity, and increased interest in vegan baking contribute to the growth of this industry.
The United Kingdom, the United States, Germany, and Japan are expected to emerge as major manufacturers as a result of the rising demand for vegan cookies at a compound annual growth rate of 8.9%.
Recent years have seen a surge in veganism’s popularity, and as a result, many new vegan-friendly options have entered the market. Vegan desserts have been on the rise recently, and one major reason is the rising popularity of dairy-free alternatives. Vegan protein sector suppliers have responded to rising consumer demand by introducing a wide variety of plant-based desserts that meet or exceed the quality and appeal of conventional sweet treats.
Vegan cookie producers are being encouraged to employ nutritious ingredients as a result of the continued emphasis on improving health and resistance among consumers. For instance, as consumer knowledge of the negative effects of white sugar intake has increased, manufacturers of vegan desserts including cookies have been substituting healthier sweeteners such as monk fruit extract, stevia, honey, etc.
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A Look into Hypermarket Segment’s 40.4% Vegan Cookies Market Share
Due to increased competition, more vegan food options have entered the market in recent years. For instance, a Starbucks location in South Korea added vegan focaccia bread to its menu, meeting consumer demand for more plant-based options. As the food industry becomes increasingly competitive, producers innovate new goods and invest in larger distribution networks to meet rising customer demand.
In 2018, Bakels established a new 80,000 square foot distribution centre in Bicester, specifically for the storage of finished goods, to meet the rising demand for these components. Moreover, online retailers are emphasising the addition of numerous vegans-based bread items to harness the soaring need and capitalise on the rising demand, with some even establishing their own self-manufactured such products. British supermarket company Waitrose & Partners, for instance, has dedicated entire aisles to vegan baked goods, creating a vast distribution network.
The demand for vegan cookies is being driven forward by rising consumer demand and rising global health consciousness. Products containing these substances have been shown to lower the chance of developing diabetes, some types of cancer, and cardiovascular disease. Bread’s negative health effects have led people to eat less of it recently, which has increased demand for gluten-free, nutritious bread substitutes.
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Sales are Being Driven by Progress in Ingredients Production
Since eggs are essential to the structure, texture, and mouthfeel of baked goods, the baking business has a hard time creating satisfying vegan baked goods alternatives. The potential for the baking business to advance is constrained by the difficulty of finding components that could substitute eggs in vegan baked goods.
To be sure, there is still a significant chasm between vegan baked goods and standard bakery items, but advances in vegan baking ingredient manufacture are helping bakeries close the gap. More and more businesses are investing in research and development of vegan baking components that can successfully simulate the look, feel, and flavour of traditional bakery goods.
For instance, stabiliser and emulsifier powerhouse KaTech recently unveiled new bakery concepts designed to solve gaps in the vegan cookies market.
To fulfil the rising demand for healthier vegan bakery items, the company introduced a range of substitute dairy fillings in several versions such as low-fat and reduced sugar. For baked goods, powdered egg replacers are being developed because they can give lightness and volume in addition to the binding medium that eggs traditionally provide.
Vegan cookies producers are also focusing on improving texture and mouthfeel by creating stabilisers. It is anticipated that the increasing number of innovations are expected to help to suit the varied needs of consumers and contribute to the growth of the vegan cookies market.
Key Takeaways
- The China vegan cookies market is expected to grow at a CAGR of 7.2% over the forecast period.
- Indian vegan cookies market is likely to have a market share of 4%.
- Due to the robust increase in demand for bakery items and the developing vegan trend, European consumers are likely to constitute the greatest percentage of the target market for vegan desserts vegan cookies.
- Since tourists flock to Europe’s most popular destinations, Germany, Italy, and France present excellent potential for businesses offering vegan treats in convenient packaged forms.
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Competitive Landscape
The development of novel products is a widely observed pattern in the vegan cookies industry. Top players in the vegan cookies industry are constantly developing cutting-edge ways to better meet the needs of their consumers.
In March of 2020, Chloe’s Oatmilk Pops, a new range of frozen non-dairy sweets, was released by Chloe’s, a firm based in the United States that specialises in vegan culinary components. These new pops are manufactured with clean-label ingredients that are good for the environment in numerous ways. They include no dairy, are entirely plant-based, are Non-GMO Project Verified, and are gluten-free. As of this writing, you can get your hands on one of three distinct varieties of these oat milk pops, which are the first in the industry.
Global bakery company and ingredient supplier JABEX was acquired by US-based Dawn Foods in March 2021. Buying JABEX allows Dawn Foods to expand its worldwide production footprint, gain access to products that complement its own, and bolster its operations and supply chain in Central and Eastern Europe.
Key Segments
By Cookie Type:
- Walnut Vegan Cookies
- Oatmeal Vegan Cookies
- Peanut Butter Vegan Cookies
- Chocolate Vegan Cookies
- Molasses Vegan Cookies
- Other Cookie Types
By Sales Channel:
- Offline
- Modern Trade Stores / Big Box Retailers
- Traditional Retailers
- Mom & Pop Stores
- Convenience Stores
- Specialty Stores
- Other Offline Stores
- Online
- Company Websites
- e-Commerce Platforms
By Region:
- North America
- Latin America
- Europe
- Asia Pacific (APAC)
- Middle East & Africa (MEA)
About Future Market Insights (FMI)
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 ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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