Vegan Dessert Market Hits $6.7 Billion Health and Veganism Drive Demand Invest Now | IGF

The vegan dessert market has seen a notable increase in demand for cruelty-free dessert alternatives due to growing consumer awareness of health benefits and environmental challenges. Growing veganism and ongoing market research, along with major global contributors like the US, UK, Germany and Japan, are the main drivers of this rise, which is expected to reach 6.7 billion dollars by 2033.

The market for vegan desserts has grown significantly in recent years, mainly due to consumers’ awareness of the benefits for their own health and the environment. As more people adopt a plant-based diet, there is a growing desire for delicious cruelty-free dessert options. The market is growing through innovative products and better ingredient substitutions, and the future looks bright.

Vegan dessert market predicted to grow from $320

$5.07 million in 2023 to $6,698.1 million in 2033. The growing popularity of veganism and continued market research are increasing the demand for vegan desserts. Therefore, the US, UK, Germany, and Japan are expected to emerge as the major manufacturers in the vegan dessert market, which is expected to grow at a compound annual growth rate (CAGR) of 8.5%.

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Acceptance of veganism and the diversity of vegan-friendly products have exploded in recent years. Thanks to the efforts of creative chefs, the market is saturated with plant-based sweet dinners that are visually and gastronomically comparable to their more traditional counterparts.

More and more chefs around the world are experimenting with vegan desserts and developing innovative new dishes. For example, chef Fran Costigan, known as a pioneer in the vegan dessert industry, offers consultations, cooking schools and classes in addition to vegan dessert recipes and posts.

The number of people using these services has increased, which is good for business. Restaurants and cafes are adding vegan desserts to their menus to accommodate the growing number of customers with food allergies or intolerances, such as eggs, dairy or cholesterol. And the widespread accessibility of plant-based milks and fats has only increased the availability and sales of vegan desserts.

Additionally, companies have been pushed to include healthier components in their products due to a growing concern for customer health. Examples include the widespread avoidance of products containing white sugar, as people become better informed about the health risks associated with this refined sweetener. As a result, manufacturers began replacing sugars with alternatives like sweet potato.

Innovative vegan food packaging is expected to see increasing adoption, which is expected to drive the development of the industry.

Sustainable food packaging materials for meat-free products are in high demand as vegan diet groups are generally concerned about environmental issues. More and more buyers attach great importance to accurate product labeling; as a result, vegan food producers like Oatly now include carbon labeling information on their boxes and jars. As an added bonus, US company No Evil Foods Sacred Serve is spending money to create cutting-edge sustainable packaging for its products.

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Key takeaways

• Given the surge in demand for baked goods and the growing vegan trend, it is likely that European customers will make up the largest share of the target audience for vegan desserts. Due to the high volume of tourists passing through Germany, Italy and France, the vegan dessert industry is growing.
• Due to growing demand from customers with dietary restrictions (such as egg allergies, lactose intolerance or excess cholesterol), vegan desserts are increasingly appearing on restaurant and cafe menus.
• Companies like Nestlé are responding to the growing demand for vegan products by introducing non-dairy lines, such as Haggen-Dazs ice cream, in markets like the United States.
• Growing consumer demand has led to a healthy expansion of vegan milk.

Mass production and the introduction of vegan bakery chains have coincided with an increase in demand.

Due to the dramatic growth in the adherent base of veganism and the growing demand for vegan baked goods, manufacturers have begun to produce vegan baked goods on a large scale.

Greggs, a major British bakery brand, recently reported a shortage of its new offering of vegan sausage rolls, indicating an increase in demand for these products.

Vegan baked goods have seen a surge in popularity, leading to the opening of vegan bakeries all over the world. When online retailers saw the huge demand for vegan baked goods during the Great British Bake-Off Week, they revealed plans to open a dedicated vegan online baking store in 2018.

New vegan product lines are being introduced by many existing bakeries in response to the growing demand for vegan desserts. Large-scale investments in vegan bakery establishments are expected to increase the demand for vegan desserts.

Businesses are diversifying their offerings to attract a wider range of customers. Thus, Unilever introduced its Magnum brand of plant-based ice cream to the Swedish and Finnish markets in August 2018. Currently, the brand is known as Magnum Dairy Free. Cornetto, another brand owned by Unilever, also offers a dairy-free ice cream option.

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Some of the most well-known names in the vegan dessert industry are:

• Unilever
• Danone, SA
• Cado
• Ben & Jerry’s Homemade, Inc.
• DISPLAYS!
• Bimbo Group
• OGG
• Daiya Foods Inc.
• Alternative foods

Key segments

By product:

• Cookies/Cookies
• Cakes and pastries
• Custard and puddings
• Frozen desserts (ice cream, yogurt, etc.)
• Others

By Flavor:

• Without taste
• Vanilla
• Chocolate
• Others (banana, strawberry, etc.)

By form:

By distribution channel:

• E-commerce
• Offline
  • Vitamin & Supplement Stores
  • Retail and department stores
  • Supermarkets
  • Vegan fairs
  • Others

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR Certified, Stevie Award Recipient, and Member of the Greater New York Chamber of Commerce) provides in-depth insight into the driving factors driving market demand. FMI is the leading global provider of market intelligence, advisory services, advisory services and events to the packaging, food and beverage, consumer technology, healthcare, industry and chemicals. With an extensive team of more than 5,000 analysts worldwide, FMI provides global, regional and local expertise on diverse areas and industry trends in more than 110 countries.

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