The global vegan desserts market is expected to be valued at USD 3205.07 million in 2023 and is anticipated to reach a valuation of USD 6698.4 Million by 2033.
Many people in the market nowadays are extremely inactive. Problems with their health, such as heart disease and obesity, affect a sizable percentage of the global population. Consumers are being encouraged to switch to plant-based food products as they become more conscious of the food industry's role in endangering animals and in committing acts of cruelty against them.
The United States of America, Australia, New Zealand, the United Kingdom, Australia, Ireland, Israel, and Canada are just a few of the countries where veganism is on the rise. People in the USA have effectively ceased eating meat. The sales of vegan desserts are booming owing to the growing public consciousness of the health benefits of plant-based products. The reduced risk of cardiovascular disease, stroke, and mortality from any cause is an additional benefit of plant-based goods.
As more people seek out vegan diets, manufacturers are expected to respond to the rising demand for vegan alternatives. People are also on the lookout for healthier options to eat. Those in the food industry are releasing novel and distinctive items onto the market to diversify their customer bases and boost their reputations. In addition to increasing numbers of health-conscious consumers, those with lactose intolerance have helped drive the vegan food industry to new heights.
Owing to these factors, the demand for vegan desserts is estimated to grow at a steady 8.5% CAGR, with the UK, the USA, Germany, and Japan emerging as key producers.
Increased Vegan Food Product Availability at Major Retailers Drives Sales Growth.
Vegan food products can be purchased from a wide variety of outlets, including traditional grocery stores, specialty health food stores, online retailers, and even convenience stores. Among these, the majority of sales are made through supermarkets. Additionally, many of the largest retail chains are introducing new vegan food options. Many supermarkets have big display signs informing customers of the arrival of exciting new plant-based product variants. Consumer interest in plant-based products can also be attributed to the fact that they can be found in their own designated section of the grocery store.
| Attributes | Details |
|---|---|
| Vegan Desserts Market CAGR (2023 to 2033) | 8.5% |
| Vegan Desserts Market Size (2023) | USD 3205.07 Million |
| Vegan Desserts Market Size (2033) | USD 6698.4 Million |
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The global demand for Vegan Desserts grew at a CAGR of 8.4% between 2016 and 2022, and it's expected to expand at a CAGR of 8.5% between 2023 and 2033. The growth potential of the market could be looked at from short-term, mid-term, and long-term perspectives.
| Short-Term Outlook (2023 to 2025): | Due to the food processing industry's rising trajectory, the market is predicted to increase faster than average. Rising interest in plant-based products and health consciousness will boost demand for vegan desserts. As the food business develops new items, more individuals choose vegan sweets for their health. Vegan desserts are gaining popularity because more consumers are ready to try them. Price, availability, and choice still determine what consumers buy when it comes to vegan desserts. Manufacturers are trying to boost demand by offering healthy eating without losing taste, convenience, or affordability. |
|---|---|
| Mid-Term Outlook (2025 to 2028): | The popularity of healthy confectionery items including organic, low-carbohydrate, low-fat, and low-cholesterol desserts in developed economies like the USA is driving sales of vegan desserts and is projected to raise demand in the near future. This is true in the USA and other wealthy countries. Due to the increase of health-conscious and fitness-minded customers that frequent vitamin and supplement stores, some manufacturers have started stocking vegan desserts. Medium-term demand for vegan desserts is expected to be fueled by impulsive buyers and millennials in developing nations. |
| Long-Term Outlook (2028 to 2032): | Bakeries are reducing the gap between vegan and traditional baked goods due to developments in vegan desserts. Several companies are developing vegan baking components that mimic the look, feel and flavor of traditional baked goods. The long-term market impact is expected to be positive. For baked foods, powdered egg replacers can contribute lightness and volume in addition to the binding. Vegan dessert makers are likewise working to improve the texture and flavor of baked items with stabilizers. The growing number of inventions is expected to help meet customer expectations and boost demand for vegan desserts. |
Consumers' growing interest in health and wellness is expected to fuel industry expansion.
Consumers' increasingly sedentary lifestyles are contributing to an increase in chronic diseases including obesity and cardiovascular disease. Adopting a vegan diet has been shown to aid in weight loss, increase circulation, and decrease the risk of cardiovascular disease. According to research published in the journal JAMA Internal Medicine, vegans tend to live longer than their meat-eating counterparts. Adopting a plant-based diet, which is high in fiber, is also beneficial to the body's metabolism. Therefore, there is a growing interest in veganism among health-conscious consumers.
Chain restaurants, five-star eateries, and food producers like Amy's Kitchen, Inc. are all releasing new vegan products and recipes to meet the rising demand in the market. Vegan recipes using pumpkin, avocado, and other nutritious foods are being released to the public in an effort to entice health-conscious shoppers who are interested in trying out new culinary creations.
Lack of Vegan Food Options Due to Their Expensive Price Tag and Other Problems
Several companies are working to bring vegan alternatives to market, but their prices are generally greater than those of animal-based foods. Foods made from plants don't taste or feel as good as their meat and dairy counterparts because of these differences. Consumers are expected to be sluggish to accept vegan options, which would negatively impact the vegan food sector.
The vegan diet is linked to a lack of certain nutrients. Anemia, hormone imbalance, and a lack of Vitamin B12 are just a few of the conditions that can result from a vegan diet's lack of protein. Therefore, it is important for consumers to seek assistance from healthcare professionals who can develop a plan based on the vegan-food pyramid and guarantee a healthy and balanced diet.
When it comes to vegan desserts, the USA is one of the most advanced markets. The USA has a significantly higher vegan consumption rate than the global average, which is just now starting to rise. Milk alternatives have a greater market in the USA, by more than USD 1.6 billion than their meat-based counterparts.
Increased use of creative packaging for vegan food items is a factor in the industry's expansion. In terms of sustainability, the vegan food sector is a leader. Greener food packaging is in high demand, especially for alternatives to meat. Owing to this crucial shift in the labeling of products, several companies producing vegan food items now include carbon labels on their offerings.
Many potential customers are put off by the relatively high price of the meat and dairy industries in vegan food products, and so producers may be unable to offer a wide variety of options.
Notable Developments in the USA Vegan Desserts Industry:
The American retail giant Target has introduced a plant-based line of products under the name good and gather. This label is likely to soon introduce 30 other items made entirely from plants.
| CAGR (2023 to 2033) | 9.6% |
|---|---|
| UK Vegan Desserts Market Share | 9% |
| UK Vegan Desserts Market Valuation (2022) | USD 266 Million |
| UK Vegan Desserts Market Valuation (2033) | USD 727.1 Million |
Recent statistics show that an astounding 7% of the UK population is now vegan, implying a 700% rise in the past two years. Additionally, over seven million people in Britain today identify as vegetarians, or 14% of the population.
The Veganuary campaign sees hundreds of thousands of Brits commit to veganism every year for the month of January.
The Guardian reports that in 2021, a record 500,000 people committed to eating exclusively plant-based food during the month of January as part of the Veganuary movement. Of those, 125,000 were in the United Kingdom. This is double the number of persons who participated in Veganuary in 2019, and an increase of 100,000 from January 2020. In January of 2022, the campaign hopes to have more than 2 million supporters.
YouGov surveyed 2,079 persons in the United Kingdom and found that 4% of respondents were interested in trying Veganuary in 2022, which they extrapolated to an estimated total of 2.7 million participants.
Notable Developments in the UK Vegan Desserts Industry:
Nestlé has released a new KitKat that is suitable for vegans; it costs £1 and uses rice milk in place of traditional dairy products. The likes of Cadbury, Lindt, and Hershey don't lag far behind.
| CAGR (2023 to 2033) | 6.6% |
|---|---|
| China Vegan Desserts Market Share | 10% |
| China Vegan Desserts Market Valuation (2022) | USD 295.53 Million |
| China Vegan Desserts Market Valuation (2033) | USD 599.4 Million |
More than half of the world's market for plant-based meat is in China. Most Chinese consumers, whether they are vegan, vegetarian, or following a flexitarian diet, are open to trying plant-based meat, giving the business a relatively high penetration rate.
The vegan industry in China markets itself as a healthy alternative amid rising demand for healthy products. Even though most vegan desserts and suppliers are located outside, China's indigenous brands are thriving due to the country's emphasis on developing novel alternatives to pork, a staple in Chinese cooking. Plant-based product legislation in China is in its infancy.
Government incentives are projected to increase as the country works toward its sustainability goals. As a result of the potential for the interruption in the import of soybeans and the inherent constraints of domestic production, there is a heightened risk to supply chains.
Notable Developments in the China Vegan Desserts Industry:
| CAGR (2023 to 2033) | 8.3% |
|---|---|
| India Vegan Desserts Market Share | 3.8% |
| India Vegan Desserts Market Valuation (2022) | USD 112.3 Million |
| India Vegan Desserts Market Valuation (2033) | USD 270 Million |
Many new businesses in India are responding to the rising purchasing power of Indian consumers by tailoring alternatives to their specific needs and preferences. Sofit, OneGood, Oatey, Made from Plants, and Raw Pressery produce soy, almond, and cashew milk, while GoodDot, Vezlay, Mister Veg Corporation, and ProMeat produce plant-based chicken and mutton curry, keema, biryani, and more.
The Bollywood couple Riteish and Genelia Deshmukh are the first to enter the plant-based meat sector with their start-up Imagine Meat. Even companies that specialize in dairy, such as Epigamia, are branching out into the plant-based market with new dairy-free options. These goods are quickly catching up to their animal-origin counterparts in terms of taste, cost, and availability.
Notable Developments in the Indian Vegan Desserts Industry:
Principal Consultant
| Segment | Distribution Channel |
|---|---|
| Top Sub-segment | Food & Drink Specialty Stores |
| Market Share | 16.30% |
| Segment | Source Type |
|---|---|
| Top Sub-segment | Oat Milk |
| Market Share | 6.20% |
In 2023, offline retail outlets, which include supermarkets, hypermarkets, grocery stores, and convenience stores, retained a sizable share of the market. The low prices and extensive selection of this distribution method make it popular among many shoppers. As a result, many businesses choose to have their products sold in such outlets. For instance, supermarkets like Albertsons, Stop & Shop, Safeway, Hannaford, Giant Carlisle, and Harris Teeter now carry a dairy-free frozen dessert line from Planet Oat.
As the demand for vegan desserts has increased, manufacturers who previously only produced items with animal ingredients have entered the market. This includes well-known brands like Magnum and Cornetto from Unilever, which are also vegan-friendly. Having such competitors enter the market only serves to further splinter it.
Manufacturers like HP Hood, Danone, The Hain Celestial Group, Cado, Cool Delight Desserts, Bliss Unlimited, Daiya Foods, Grupo Bimbo, Unilever, Arla Foods, Alternative Foods, Love Food, Sunopta, Ben & Jerry's Homemade, OGGS, Haagen-Daz, Archer Daniels Midland Company, Nestlé, General Mills, Breyer's, Tofurky, BOSH!
To increase their market share, prominent players often first enter the market with new products. In 2020 alone, UK bakeries Love Food, BOSH! and Oggs introduced new flavors of vegan cakes, while HP Hood introduced its first vegan ice cream produced with oat milk under its Planet Oats brand. Recognized vegan chefs endorsing products is another important promotional tactic.
Celebrity vegan chef endorsements, including those of Fran Costigan, Kristen Battaglia, Victoria Burghi, and Julia Child, are another key tactic in the vegan dessert business.
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The Vegan Desserts market is estimated to be worth USD 3205.07 Million in 2023.
The Vegan Desserts market is expected to be valued at USD 6698.4 Million by 2033.
The Vegan Desserts market expanded at 8.4% CAGR in the last five years, from 2017 to 2022.
Food & Drink specialty stores accounted for nearly 16.3% market share in the global Vegan Desserts market in 2023.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Source Type 5.1. Oat milk 5.2. Rice milk 5.3. Corn milk 5.4. Soy milk 5.5. Almond milk 5.6. Coconut milk 5.7. Cashews milk 5.8. Flax milk 5.9. Hemp milk 5.10. Others (Nuts, Cassava, etc.) 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Distribution Channel 6.1. B2B/ Food Service 6.1.1. Hotels 6.1.2. Restaurants 6.1.3. Cafes 6.2. B2C 6.2.1. Hypermarkets / Supermarkets 6.2.2. Convenience Stores 6.2.3. Mom-and-Pop Stores 6.2.4. Discount Stores 6.2.5. Food & Drink Specialty Stores 6.2.6. Independent Small Groceries 6.2.7. Online Retail 6.2.8. Other Retail Formats 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 7.1. North America 7.2. Latin America 7.3. Europe 7.4. East Asia 7.5. South Asia 7.6. Oceania 7.7. Middle East and Africa (MEA) 8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. South Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. Oceania Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Key Countries Market Analysis 16. Market Structure Analysis 17. Competition Analysis 17.1. HP Hood (Planet Oat) 17.2. Unilever 17.3. Danone S.A. 17.4. Cado 17.5. Bliss Unlimited, LLC. 17.6. Daiya Foods Inc. 17.7. Alternative Foods 17.8. Ben & Jerry's Homemade, Inc. 17.9. BOSH! 17.10. Grupo Bimbo 17.11. OGGS 18. Assumptions & Acronyms Used 19. Research Methodology
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Vegan Desserts Market
