Vegan Baking Ingredients Market Segments, Opportunity, Growth and Forecast by End-Use Industry 2018-

From: Fact Market Research
Published: Mon Jul 22 2019

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.

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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.

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. With veganism gaining a pervasive prevalence, and consumers associating health benefits with consumption of plant-based and animal-free products, demand for vegan baking ingredients is expected to rise.

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. The company launched an assortment of alternative dairy fillings in different variants such as low-fat and reduced sugar to meet the burgeoning demand for healthier vegan bakery products.

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.

A substantial increase in the number of people following veganism, coupled with a rise in the overall demand for vegan bakery products has led food processing companies to adopt large-scale production. For instance, Greggs, a leading bakery chain based in Britain recently reported a shortage in supply of its new product offering in vegan sausage rolls alluding to the surging demand for vegan bakery products. The sudden increase in the demand for vegan bakery goods is prompting new installments of all-vegan bakeries around the world. E-commerce giants announced the launch of an all-vegan online baking store in 2018 after witnessing the massive demand for the products during the Great British Bake Off Week. To capitalize on the growing demand for vegan bakery products, existing bakeries are also launching new vegan product lines. Large scale investments in all-vegan baking stores are estimated to bolster the demand for vegan baking ingredients.

The report on vegan baking ingredients market offer all-inclusive and valuable insights into the vegan baking ingredients market. A comprehensive analysis of all the factors influencing the performance of the vegan baking ingredients market has been provided in the report. Additionally, the report provides a detailed opportunity assessment of the vegan baking ingredients market.

A list of all the macro and microeconomic facets influencing the growth of the vegan baking ingredients market have been compiled in the report. The report on vegan baking ingredients market also includes an analysis of the level of competitiveness prevalent in the vegan baking ingredients market.

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