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Vegan Baking Ingredients Market 2023 - Industry Insights, New Trends, Growth Opportunities, And Forecast To 2032
Vegan Baking Ingredients Market
The Business Research Company's Vegan Baking Ingredients Global Market Report 2023 identifies growing health awareness as the major driver for the Vegan Baking Ingredients market's growth in the forecast period. Health awareness is the knowledge and awareness of health, healthcare, medical needs, diseases, and preventive actions in general. Health awareness made people shift towards a vegan diet, as they are plant-based food and healthier forms of food one can consume.
The global vegan baking ingredients market size grew from $1.67 billion in 2022 to $1.82 billion in 2023 at a compound annual growth rate (CAGR) of 8.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The vegan baking ingredients market size is expected to grow to $2.5 billion in 2027 at a CAGR of 8.3%.
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Major competitors in the Vegan Baking Ingredients market are Associated British Foods plc, BASF SE, DuPont de Nemours, Inc., Ingredion EMEA, Döhler, Lallemand Baking, Bakels Group.
A key trend in the Vegan Baking Ingredients market includes product innovation. Major companies operating in the vegan baking ingredients market are coming up with new and innovative innovations to serve their customers. For instance, in March 2020, Chloe's, a US-based company operating in vegan food ingredients launched its new line of frozen non-dairy desserts named Chloe's Oatmilk Pops, which is the first of its kind in the market.
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The Vegan Baking Ingredients market is segmented -
• By Product Type: Starch, Raising Agent, Emulsifier, Baking Powder and Mixes, Vegetable Oil, Colors and Flavors, Enzymes.
• By Nature: Conventional Vegan Baking Ingredients, Organic Vegan Baking Ingredients.
• By Application: Cakes and Pastries, Biscuits and Cookies, Bread and Buns.
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Europe was the largest region in the Vegan Baking Ingredients market.
The Business Research Company's "Global Vegan Baking Ingredients Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Vegan Baking Ingredients Market Include:
1. Executive Summary
2. Vegan Baking Ingredients Market Characteristics
3. Vegan Baking Ingredients Market Trends And Strategies
4. Vegan Baking Ingredients Market - Macro Economic Scenario
5. Vegan Baking Ingredients Market Size And Growth
………………………………………………….
26. Africa Vegan Baking Ingredients Market
27. Vegan Baking Ingredients Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Vegan Baking Ingredients Market
29. Vegan Baking Ingredients Market Future Outlook and Potential Analysis
30. Appendix
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