Vegan Dessert Market To Hit Value .97 Billion By 2027Posted by Mrudula Anil Karmarkar on March 23rd, 2022 The global vegan dessert market size is expected to reach USD 5.97 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 10.1% from 2020 to 2027. Increasing demand for low fat, lactose-free, and all-natural products is expected to fuel the growth of the market in the upcoming years. In addition, rising income and health consciousness among the consumers have been driving the sales of dairy-free foods over the world. The frozen dessert segment is expected to register the fastest CAGR of 11.0% from 2020 to 2027 owing to the rising demand for dairy-free products among young consumers. Key players of the ice cream industry have been entering the market considering the increasing opportunity. For instance, in March 2020, Unilever’s Magnum brand introduced a Non-Dairy Sea Salt Caramel Bar. The ice cream is made with coconut oil, pea protein, and cocoa beans. Similarly, in January 2020, Ben & Jerry\'s Homemade, Inc. added a new flavor called “Netflix & Chilll’d” to its plant-based ice cream line. The company has collaborated with Netflix for the launch of this flavor. Asia Pacific is projected to expand at a steady growth rate in the upcoming years owing to increasing acceptance of veganism in the region. As a result, companies have been strengthening their presence in the region. For instance, in April 2020, Nongfu Spring launched China’s first plant-based yogurt brand. The brand includes three flavors: walnut, almond, and coconut. In November 2020, Green Common, a plant-based grocery shop and café partnered with Tmall, to open a Tmall Global flagship store in China. The industry is highly competitive due to the presence of a large number of global and regional players. Over the past few years, awareness about veganism has increased along with an extensive range of plant-based products. Vendors of the industry have been offering numerous plant-based sweet dishes that deliver the quality, taste, and visual appeal of the traditional desserts. To Request Sample Copy of this report, click the link: https://www.grandviewresearch.com/industry-analysis/vegan-dessert-market/request/rs1 Some international chefs have been increasingly exploring the industry and innovating plant-based sweet dishes. For instance, Chef Fran Costigan, globally recognized as the influencer on vegan desserts, provides recipes and books, consultations, cooking schools, and classes. Such services have been expanding the consumer base of the industry. The vegan dessert is increasingly gaining a place in the menu of several restaurants and cafes in order to appeal to consumers having dietary concerns, such as allergies to eggs, lactose intolerance, and high cholesterol level. Furthermore, the wide availability of plant milk and fats has fueled the supply of vegan desserts. Vegan Dessert Market Report Highlights
In addition, rising health consciousness among consumers has encouraged producers to use healthier ingredients in their foods. For instance, with the increasing awareness about the negative impact of white sugar, consumers have been avoiding foods containing white sugar. Therefore, producers of the industry have been using sugar alternatives, such as sweet potato. The growth of vegan dessert has hindered in 2020 due to the coronavirus outbreak across the globe. Several promotional activities organized by the vegan organizations have been postponed or canceled. Furthermore, the lockdown imposed in several countries has forced to close hotels, restaurants, and cafes, which are a crucial distribution channel for vegan desserts. In addition, frozen desserts, especially the ice cream market, have been witnessing a significant drop in the sales due to COVID 19 pandemic as consumers have a misconception or fear that ice cream can make them susceptible to the disease by catching a cold. Some of the prominent players in the vegan dessert market include:
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