Press release
Aquafaba Market to Expand at a CAGR of 13.2% by 2033 | Persistence Market Research Report
The aquafaba market has witnessed significant growth in recent years, driven by rising consumer demand for plant-based and vegan alternatives. Aquafaba, derived from the liquid of cooked chickpeas or other legumes, has gained popularity as an egg substitute in various culinary applications, including baking, emulsification, and foaming.
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The Aquafaba Market is experiencing significant growth due to its rising adoption as a versatile plant-based alternative to eggs in the food industry. Derived from the liquid of cooked chickpeas, aquafaba has gained popularity among vegan and health-conscious consumers for its excellent emulsifying, foaming, and binding properties. It is widely used in baking, confectionery, and dairy-free formulations, driving demand in both household and commercial sectors. The market is further propelled by the increasing preference for sustainable and allergen-free food ingredients. With innovations in plant-based food technology and expanding product applications, the aquafaba market is poised for steady expansion in the coming years.
Key Growth Determinants
Growing Popularity of Plant-Based Diets: Increasing awareness of plant-based and vegan diets has propelled the demand for alternative ingredients like aquafaba.
Health and Wellness Trends: Consumers are actively seeking natural and allergen-free ingredients, boosting the adoption of aquafaba in food and beverage formulations.
Expansion of the Food Industry: The food processing industry is leveraging aquafaba for innovative product development, such as dairy-free desserts and eggless mayonnaise.
Rise in Home Baking Trends: With an increasing number of home bakers exploring healthier and vegan options, aquafaba has become a staple ingredient in household kitchens.
Major Growth Barriers
Limited Awareness Among Consumers: Despite its benefits, aquafaba remains relatively unknown to a broader audience, limiting market penetration.
Short Shelf Life and Preservation Challenges: Being a natural and perishable product, aquafaba requires proper storage conditions to maintain its functionality.
Availability of Alternative Binders: Other plant-based egg substitutes, such as flaxseed and chia seed gel, compete with aquafaba, posing a challenge to market expansion.
Key Trends and Opportunities to Look at
R&D in Food Technology: Ongoing research and development efforts are focused on improving the shelf life, consistency, and commercial applications of aquafaba.
Increasing Retail Presence: More supermarkets and online retailers are incorporating packaged aquafaba products to cater to growing consumer demand.
Expansion into Non-Food Applications: The cosmetic and pharmaceutical industries are exploring the potential of aquafaba as a natural emulsifier and stabilizer.
Sustainability and Waste Reduction: The utilization of aquafaba promotes sustainability by reducing food waste from legume processing.
Regional Frontrunners
North America: The region leads in aquafaba consumption due to strong vegan and health-conscious consumer bases.
Europe: Countries like Germany, the UK, and France are driving market expansion with a growing preference for plant-based alternatives.
Asia-Pacific: Emerging economies like China and India are showing increasing interest in plant-based food innovations.
Latin America: The adoption of aquafaba is steadily rising, particularly in countries with a significant vegan and vegetarian population.
Key Market Players
Haden's Aquafaba
Vor Foods
Chickplease
OGGS (Alternative Foods)
SOS Chefs
Saheli
Elmhurst
Market Forecast
Newly-released Aquafaba Market analysis report by Persistence Market Research reveals that global sales of aquafaba in 2022 were held at US$ 38.8 Million. With 13.2% projected growth from 2023 to 2033, the market is expected to reach a valuation of US$ 224 Million by the end of the forecast period. This substantial growth is fueled by the increasing demand for plant-based food alternatives, innovation in food formulations, and expanding applications in multiple industries.
Segmentation of the Aquafaba Market:
By Form:
Liquid
Power
By Application:
Pancakes
Waffles
Mayonnaise
Meringues
Cookies
Brownies
Dressings
Cocktails
By Packaging Type:
Bottles
Jars
Pouches
By Sales Channel:
Online
Supermarkets/Hypermarkets
Specialty Stores
By End Use:
Bakery & Confectionery
Household Consumption
HoReCa
By Region:
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
Conclusion
The aquafaba market is poised for significant expansion in the coming years, driven by evolving consumer preferences, technological advancements, and the growing influence of sustainability in food production. While challenges such as limited awareness and storage concerns persist, the increasing acceptance of plant-based diets and innovative product development present lucrative opportunities for market participants.
About Persistence Market Research:
At Persistence Market Research, we specialize in creating research studies that serve as strategic tools for driving business growth. Established as a proprietary firm in 2012, we have evolved into a registered company in England and Wales in 2023 under the name Persistence Research & Consultancy Services Ltd. With a solid foundation, we have completed over 3600 custom and syndicate market research projects, and delivered more than 2700 projects for other leading market research companies' clients.
Our approach combines traditional market research methods with modern tools to offer comprehensive research solutions. With a decade of experience, we pride ourselves on deriving actionable insights from data to help businesses stay ahead of the competition. Our client base spans multinational corporations, leading consulting firms, investment funds, and government departments. A significant portion of our sales comes from repeat clients, a testament to the value and trust we've built over the years.
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