Vegan Desserts Market to Witness a CAGR of Around 10%
According to latest research by Fact.MR, vegan desserts is likely to witness sturdy growth during 2021-2031. Demand for vegan desserts will witness higher growth outlook in the long-run as compared to that of historical growth. Increasing awareness regarding importance of healthy vegan lifestyle will mean limited opportunities in near future, however, rising demand for dairy alternatives by fitness enthusiast working out and following their diet regularly will provide momentum to vegan desserts market.
What is Driving Demand for Vegan Desserts?
The surging population of vegetarianism and veganism with the mounting awareness among individuals to live healthier lifestyle, both in developing and developed countries, are key factors that are likely to have a significant impact on overall growth of vegan dessert market in near future.
Evolving demand for more organic, natural and plant-based food compared to that of synthetic/color-added food ingredients in desserts such as ice-creams, continues to drive the demand for vegan desserts in daily dietary.
Sales of vegan desserts has gone through a recurring boom-and-bust, which has remained an enduring challenge for manufacturers. The fluctuation was primarily evident due to the temporary halt in operations with an outbreak of uncertain disease like COVID for which manufacturers remained unprepared with respect to capacity utilization and expansion.
However, continuous promotional activities by celebrity figures, fitness and other social media influencers are likely to contribute in future market growth of vegan desserts by inducing others to create homemade plant-based desserts.
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Influencer Marketing is Likely to Augment Vegan Dessert Sales
Over the past few years, a fleet in awareness about veganism has been evident with an extensive range of plant-based products. The demand for dairy alternatives has become a crucial factor contributing to the progress of the vegan dessert market. This rise in demand was seen since the vendors of the vegan protein industry has started offering numerous plant-based desserts, delivering standard quality and taste of the traditional desserts.
Increasing fitness and immunity remains the key focus area for consumers, further encouraging vegan dessert manufacturers to use healthy ingredients in their offerings. For instance, with the rising awareness among consumers about health issues on consumption of white sugar, producers of the vegan desserts has started using sugar alternatives, such as monk fruit extract, stevia, honey, etc.
Although lockdown and shelter-at-home guidelines have meant restricted activities, sales are likely to improve over the course of the assessment period owing to the surge in vegan population and growing marketing activities to promote the vegan diet. For instance, Chef Fran Costigan, a global influencer recognized as queen of vegan desserts, provides recipes and books, consultations, cooking schools, in turn, expanding the consumer base of vegan dessert.
US and Canada Vegan Desserts Market Outlook
The growing popularity of the vegan lifestyle in developed economies of North America has been driving the market for vegan dessert across the region. The vegan dessert is increasingly gaining a visibility in menu of restaurants and cafes in order to appeal to consumers with dietary concerns. Consumers with cardiovascular diseases, high cholesterol level, and allergic to eggs are creating demand for healthier vegan desserts to cope with their cravings.
The US vegan desserts market is set to tread on the historic pattern of bust and boom during the assessment period 2021-2031. Demand is likely to leap and bound in the next couple of years with an upsurge in vegan population. Companies such as Nestle are tapping into growing consumer demand for vegan products by launching a non-dairy range like Haggen-Dazs ice-cream in United States.
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Europe Demand Outlook for Vegan Desserts
Many countries in EU have been severely impacted by the COVID-19 crisis, which has led to a decline in economic activities. However, as is the case in US and Canada, rising vegan population and increasing awareness towards veganism in EU continues to drive demand for vegan desserts.
European consumers will probably represent the largest share of the target group for vegan desserts due to the strong rise in demand for bakery products and the growing vegan trend. Germany, Italy, and France being the most visited countries in Europe, creating opportunities for vegan desserts providers to offer on-the-go vegan desserts in form of packaged foods.
Who are the Key Manufacturers and Suppliers of Vegan Desserts?
Some of the leading manufacturers and suppliers of vegan desserts include
- HP Hood LLC
- Unilever plc
- Coconut Bliss
- Daiya Foods Inc
- Ben & Jerry's Homemade, Inc
- Nature's Bakery
- Enjoy Life Foods
- Glico Global
- Tokyo Banana
- Tokyo Campanella I'll Co., Ltd.
- Dandelion Chocolate
- Iemon Salon.
Increasing importance of plant-based nutrition, positive outlook for the sport nutrition industry and emerging fitness trends leading to high demand for protein-rich organic diet are some of the factors which are likely to create huge opportunities for market participants in vegan desserts market. Further, many vegan desserts manufacturers are focusing on adopting the strategies such as product innovations and influencer marketing. For instance, In December, 2017, Garden of Life partnered with Nestle and came with USDA Organic and Non-GMO Project Verified nutrition, based on real, whole and plant-based foods.
An Adaptive Approach to Modern-day Research Needs
Vegan Desserts Market Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company
- Cakes & Pastries
- Custard & Puddings
- Frozen Desserts (Ice-creams, Yogurts, etc.)
- Others (banana, strawberry, etc.)
By Distribution Channel
- Vitamins & Supplements Stores
- Retail and Departmental Stores
- Vegan Fairs
- North America
- US & Canada
- Latin America
- Brazil, Mexico, Others
- Western Europe
- Eastern Europe
- Asia Pacific
- Australia and New Zealand (ANZ)
- Greater China
- Rest of Asia Pacific
- Middle East and Africa
- GCC Countries
- Other Middle East
- Northern Africa
- Southern Africa
- Other Africa
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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