Vegan Baking Ingredient Market Sales Predicted To Reach US$ 3.6 Billion By 2033 - Fact.MR
Food & Beverages Processing|NOVEMBER - 2023
According to Fact.MR, a leading provider of market research and competitive intelligence, the global vegan baking ingredients market size is expected to reach a value of US$3.6 billion by the end of 2033, with a compound annual growth rate (CAGR) of 6.5%.
Vegan Baking Ingredient Market Sales Predicted To Reach US$ 3.6 Billion By 2033 - Fact.MR

Vegan baking ingredients serve as plantbased substitutes for animal-derived products commonly used in baking. They are characterized by their ethical treatment of animals, as they do not involve any form of animal exploitation. Moreover, these ingredients exhibit superior environmental sustainability by requiring fewer resources and emitting fewer greenhouse gases.

Their composition, low in saturated fats and cholesterol, makes them suitable for diverse dietary preferences, thereby offering health advantages. Vegan ingredients are also well-suited for individuals with allergies or specific dietary requirements. The expansion of this market is primarily driven by the growing adoption of plant-based diets, fueled by concerns related to animal welfare, health, and environmental sustainability. As consumers become increasingly conscious of the environmental consequences of animal agriculture, they are actively seeking cruelty-free alternatives.

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This story is from the NOVEMBER - 2023 edition of Food & Beverages Processing.

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