Vegan Baking Ingredients Market Projected to Experience Major Revenue Boost

Posted by Arslan on March 25th, 2019

According to a recent report by Fact.MR, vegan baking ingredients sales are expected to close in on 38,000 tons in 2019. Widespread adoption of veganism coupled with pervasive trends such as “mindful choices”, “clean label”, and “sustainability” continue to impact growth of the vegan baking ingredients market.

Growing research and development activities for the production of improved vegan baking ingredients is a vital aspect contributing to market proliferation. Innovations in the vegan baking ingredients manufacturing are enabling the production of vegan emulsifiers which are key to producing bakery products that mimic the texture and mouthfeel of normal bakery products.

A crucial factor complementing the vegan bakery ingredients market growth is the fortification of these ingredients with probiotics. Consumer awareness regarding the benefits associated with consumption of probiotics is gradually increasing which is causing an upward movement in the sales of products incorporated with the healthy ingredient. Additionally, development of probiotics which are resistant to higher temperature, varying pH levels, and have a longer shelf-life is enabling their incorporation into bakery products opening up new opportunities for manufacturers.

Alternate emulsifiers such as aquafaba, a protein derived from legumes, are increasingly gaining traction due to their wide scope of applications such as leavening and foaming agents and their neutral impact on the taste and flavoring of products. Owing to its extensive nature aquafaba is increasingly being used in production of multiple vegan products driving research towards development of infrastructure for large scale extraction of the protein.

A notable development complementing the surge in demand for the alternative emulsifier was InnovoPro, a company based in Israel and specializing in chickpea protein production, raising US$ 4.25 million in funding. The company claims to have found a sustainable technique for extracting 70% of the protein concentrate from chickpeas. These developments are estimated to uphold the growing demand for emulsifiers in the vegan baking ingredients market with the Fact.MR study projecting total production of approximately 10,500 tons of emulsifiers in 2019.

Sales Underpinned by Innovation in Ingredients Manufacturing

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.        

Demand Surges in Line With Large Scale Production and Launch of Vegan Bakery Chains

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.

Sustainability Prevails as a Key Growth Determinant

Growing awareness about the relationship between food production and its impact on the environment is prompting consumers to shift towards brands that incorporate sustainable solutions in food processing and manufacturing. Although vegan baking ingredients conform to ethical concerns regarding animal treatment, manufacturers are increasingly focusing on streamlining their supply chain operations to keep consumers informed of their sustainable practices and promote sales. A recent development alluding high traction of sustainable practices in the food processing industry is the Iceland’s ban on palm oil use in vegan bakery products, following reports of child labor, deforestation, and decreasing animal population in Malaysia and Indonesia where it was being sourced from.      

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