According to Future Market Insights, the United Kingdom vegan pastry market is projected to expand at 6.3% CAGR between 2023 and 2033. Presently, with a market valuation of US$ 26 million. The United Kingdom holds around 9.2% share of the global vegan pastry market. By 2033, the United Kingdom vegan pastry market size is set to reach around US$ 50.7 million.
High penetration of veganism and growing demand for more sustainable dietary options are key factors driving vegan pastry sales across the United Kingdom and other European countries.
With rising concerns about environmental and pollution degradation, people in Europe are aware of their influence on the environment and are demanding more sustainable dietary choices.
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Vegan pastries are considered a sustainable substitute for customary animal-based pastries and are being consumed on large scales across several European nations.
The animal welfare drive is gaining momentum in European countries such as the United Kingdom and Germany, and individuals are becoming aware of the moral issues adjacent to the use of animal goods in their food. This is creating a conducive environment for the expansion of vegan pastry market.
Offline retailing segments such as hypermarkets, supermarkets, grocery stores, and convenience stores accounted for a large market share in 2023 and they are likely to retain their dominance through 2033. Various customers in Europe prefer this distribution channel owing to the wide product accessibility and affordability.
Therefore, several companies are choosing these stores to distribute their goods. For example, Planet Oat announced a line of non-dairy frozen desserts available at several retail chains including Stop & Shop, Albertsons, Safeway, Giant Carlisle, Hannaford, and Harris Teeter.
Key Takeaways from the Vegan Pastry market
- The global vegan pastry industry is forecast to exhibit a CAGR of 5.7% between 2023 and 2033, reaching a valuation of US$ 491.5 million by 2033.
- Vegan pastry demand across the United Kingdom is likely to accelerate at 6.3% CAGR throughout the forecast period.
- The United Kingdom vegan pastry market size is forecast to reach US$ 50.7 million by the end of 2033.
- Growing preference for sustainable dietary options will drive Europe’s vegan pastry market during the assessment period.
“Changing preferences towards sustainable dietary options, and availability of diverse options are playing a key role in driving the Europe vegan pastry market forward. Younger generations are open to trying different and new foods and are likely to try vegan and plant-based choices. This trend is influenced by several social media stages and the dissemination of information on nutrition trends, health, wellness, and sustainability,” says a lead FMI Analyst.
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Competition Landscape in the Vegan Pastry Market
Market rivals rely on several expansion methods such as mergers, acquisitions, partnerships, innovations, and new product introductions to attract a large customer base.
Redemption Bar, Biff’s Jack Shack, and Temple of Seitan are the key manufacturers of the Europe vegan pastry market.
Recent Developments
- In 2022, two new vegan pastries were launched by Higgidy, a United Kingdom-based brand.
- In September 2022, GoodMills Innovations launched Vicatex Vegan Snack Mix, a premix for vegan meatballs and burgers, as well as fillings for delicious baked goods and snacks. The premix is created on wheat protein and is characterized by “juicy chewiness and genuine meat taste”. It is easy to use by mixing water and oil and molding it.
- In November 2022, the United Kingdom-based Morrisons’ announced the launch of the new Vegan Christmas Range comprising cheesecake and Gammon Joint.
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Key Segments
Type of product:
- Cakes and cupcakes
- Bread and buns
- Pies and tarts
- Pastries and doughnuts
- Cookies and bars
Distribution channel:
- Supermarkets and hypermarkets
- Natural food stores
- Online retail
- Specialty stores
- Convenience stores
Region:
- North America
- Latin America
- Europe
- Asia Pacific (APAC)
- Middle East & Africa (MEA)
About FMI
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10 years.
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