Vegan Baking Ingredients Market Estimated to Record Highest CAGR by 2028

Posted by Arslan on June 28th, 2019

In order to dissert the market scenario prevailing across the vegan baking ingredients market sector, FactMR has evenly presented a comprehensive vegan baking ingredients market analysis to its extensive online repository. With all vital market facets enclosed into this single assessment, readers can learn about different market drivers, opportunities and trends which are likely to influence the overall market space for the vegan baking ingredients market in the coming years. In addition, factors such as market size, Y-o-Y growth and revenue share are investigated so as to make this research highly authentic and reliable.

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Over Half Market Shares Remain Clustered Among Multinationals

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.
• 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.

Additional Questions Answered

Apart from the aforementioned insights about the vegan baking ingredients market, the report answers the following vital questions on the vegan baking ingredients market:

• What product type will account for the bulk of the vegan baking ingredients market share in 2019?
• What region offers the most lucrative opportunities for the vegan baking ingredients market in 2019?
• Which application contributed significantly to the vegan baking ingredients market share?
• What are the challenges facing the vegan baking ingredients market?

Research Methodology

The report on vegan baking ingredients market is a consequence of robust and elaborate research. A two-step research process was employed to obtain insights into the vegan baking ingredients market. Primary research was conducted by interviewing experts from the vegan baking ingredients market while secondary research involved a thorough study of vegan baking ingredients market trade journals, paid sources, and other publications related to the vegan baking ingredients market. Results from both the steps are cross-referenced to create an authentic forecast of the vegan baking ingredients market.