The unprecedented COVID-19 pandemic has affected the global economy to a great extent. Considering the food industry, one of the most important sectors of the economy, a tremendous impact has been witnessed on the entire process from the field to the consumer. The restrictions in the movement of workers, closure of food production facilities, and changes in consumer demand have put excessive pressure on the food industry.
The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Vegan Baking Leavening Agents market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Vegan Baking Leavening Agents
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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.
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Demand for Vegan Baking Ingredients in Production of Bread Remains Robust
The consumption of bread has been gradually reducing in recent times with the advent of associated health problems such as increased blood sugar level, indigestibility, and obesity. Consequently, consumers are seeking healthy, gluten-free alternatives for bread which is prompting bakeries to foray into production of vegan bread. For instance, Pompadour, a bakery chain in Japan launched its new vegan curry bread manufactured using clean and organic ingredients.
Additionally, both brick & mortar and online retail stores are adding multiple variants of vegan bread to their portfolios to capitalize on the surge in demand with some stores launching their own proprietary vegan bread products. Trader Joe’s, a chain of grocery stores in the USA, recently rolled out vegan banana bread loaf across its stores. While certain stores are foraying into manufacturing their own vegan bread products, other supermarkets such as Waitrose are assigning dedicated sections to vegan products providing an extensive network for their distribution.
Surge in the demand for vegan products is also prompting food chains to expand their vegan product offerings. A Starbucks outlet in South Korea recently expanded its vegan product offerings with the addition of vegan focaccia bread to its menu. As competition in the vegan food market intensifies, manufacturers are focusing on the production of innovative offerings. For instance, Artisan Bread Organic, a leading producer of vegan products in the UK, recently launched a new vegan burger range with the company claiming its products to be completely vegan. Approximately 11000 tons of vegan baking ingredients were sold for bread production in 2018, according to the study.
The Fact.MR report tracks the vegan baking ingredients market for the period 2018-2028. According to the report, the vegan baking ingredients market is projected to grow at 6% CAGR through 2028.
Segmentation
The report on vegan baking ingredients market segments the vegan baking ingredients market on the basis of product type, nature, application, end-use, and region.
Based on product type, the vegan baking ingredients market can be segmented into starch, raising agents, emulsifiers, leavening agents, baking powder and mixes, vegetable oils, colors and flavors, and enzymes.
On the basis of nature, the vegan baking ingredients market can be segmented into organic and conventional.
Based on the application, the vegan baking ingredients market can be segmented into cakes & pastries, biscuits & cookies, bread, rolls & pies, buns, and others.
On the basis of end-use, the vegan baking ingredients market can be segmented into direct sales and residential.
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Fact.MR, in its new report, offers an unbiased Market Analysis of Vegan Baking Leavening Agents, Sales and Demand of Vegan Baking Leavening Agents, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.
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