Global Vegan Dessert Market - 2023-2030

Global Vegan Dessert Market - 2023-2030

The Global Vegan Dessert Market reached US$ 2.9 billion in 2022 and is projected to witness lucrative growth by reaching up to US$ 5.8 billion by 2030. The market is growing at a CAGR of 9.1% during the forecast period 2023-2030.

Vegan desserts have witnessed a remarkable surge in popularity as they cater to individuals adhering to plant-based diets or those with specific dietary restrictions. The interest in plant-based desserts encompasses a wide array of options, including vegan cakes, cookies, chocolates, and ice creams, all crafted without the use of animal-derived ingredients such as dairy, eggs, or gelatin.

The market for vegan desserts is poised for substantial growth in the forecast period, primarily fueled by the increasing consumer demand for low-fat, lactose-free, and all-natural products. To meet this demand, key players in the market have been introducing a diverse range of plant-based desserts that successfully replicate the quality, taste, and visual appeal of traditional sweet dishes, thereby driving the overall growth of the global vegan desserts market. Furthermore, the growing emphasis on health among consumers has motivated manufacturers to incorporate healthier ingredients in their food offerings, adding to the appeal of vegan desserts as a guilt-free indulgence.

Market Dynamics

The Growing Availability of Vegan Food Products at Major Retailers.

The vegan desserts market is greatly influenced by the increasing presence of vegan food products in major retailers. This availability serves as a significant catalyst for the industry's growth. Recognizing the rising demand for plant-based choices, retailers are diversifying their product range to include various vegan alternatives.

Consequently, the vegan desserts industry experiences a positive impact, as consumers have a broader array of plant-based ingredients at their disposal. These include dairy-free milk, egg substitutes, and vegan-friendly sweeteners, making it more convenient to create and savor vegan desserts at home. For instance, on August 19, 2022, Bon Dévil launched a plant-based dessert brand in a retail store in Canada.

The Limited Availability and Accessibility of Vegan Options.

The limited availability and accessibility of vegan options can indeed pose challenges for the vegan desserts market. The lack of vegan dessert options in mainstream establishments, such as restaurants, bakeries, and grocery stores, can make it difficult for individuals to find and enjoy vegan desserts. This limited availability hampers the growth and widespread adoption of vegan desserts, as it restricts consumer choices and may discourage people from embracing plant-based alternatives.

COVID-19 Impact Analysis

The COVID-19 analysis includes Pre-COVID Scenario, COVID Scenario and Post-COVID Scenario along with pricing dynamics (including pricing change during and post-pandemic comparing it with pre-COVID scenarios), demand-supply spectrum (shift in demand and supply owing to trading restrictions, lockdown and subsequent issues), government initiatives (initiatives to revive market, sector or industry by government bodies) and manufacturers strategic initiatives (what manufacturers did to mitigate the COVID issues will be covered here).

Artificial Intelligence Analysis

Artificial intelligence analysis plays a valuable role in the vegan dessert industry. It helps identify market trends by analyzing data from various sources. AI algorithms suggest ingredient substitutions and optimize recipes for better taste and nutrition. Personalized recommendations based on individual preferences enhance the customer experience. AI-based image recognition ensures quality control, while sentiment analysis helps businesses understand customer feedback. Overall, AI analysis provides valuable insights, driving innovation and improving the vegan dessert industry.

Segment Analysis

The global vegan desserts market is segmented based on product, distribution channel and region.

Custards and Puddings Segment Accounted for Sizable Share in the Global Vegan Desserts Market

Vegan custards and puddings are delightful plant-based dessert options that cater to individuals following a vegan lifestyle or those looking to incorporate more plant-based choices into their diet. These creamy and indulgent treats are created without the use of animal products such as dairy or eggs, making them suitable for those who avoid animal-derived ingredients.

For instance, on November 19, 2020, British ice cream brand Jude’s expanded its portfolio with the addition of two custards and two new vegan ice cream products. Crafted using genuine bourbon vanilla and Belgian chocolate, these custards are intended to be enjoyed both hot and cold, either as standalone treats or paired with preferred winter puddings.

Geographical Analysis

North America Holds the Largest Share in the Global Vegan Desserts Market

By region, the global vegan desserts market is segmented into North America, South America, Europe, Asia-Pacific, Middle-east and Africa.

North America has witnessed remarkable growth in the availability and variety of vegan dessert options. Major retailers, specialty stores, and vegan bakeries are offering a wide range of delicious plant-based treats to cater to the growing demand. From vegan cookies, cakes, and brownies to dairy-free ice creams and pies, there is a diverse selection of vegan desserts to satisfy every sweet tooth. Moreover, the growing vegan population in North America has led to an increase in vegan-friendly dining establishments.

For instance, according to Vegan and Plant-Based Diet Statistics of 2023, the vegan population has increased by 22% compared to 2021. Many restaurants and cafes feature vegan dessert options on their menus to cater to this expanding customer base. This not only provides more choices for vegans but also exposes non-vegans to the delights of plant-based desserts, promoting further adoption and acceptance of vegan eating.

Competitive Landscape

The major global players include HP Hood LLC, Unilever, Danone S.A., Cado, Bliss Unlimited, LLC., Daiya Foods Inc., Alternative Foods, Ben & Jerry's Homemade, Inc., BOSH, and Grupo Bimbo.

Why Purchase the Report?
• To visualize the global vegan desserts market segmentation based on product, distribution channel, and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of vegan desserts market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.

The global vegan dessert market report would provide approximately 53 tables, 46 figures and 195 Pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies