Vegan Dessert Market Size
The Global Vegan Dessert Market reached USD 2.9 billion in 2022 and is projected to witness lucrative growth by reaching up to USD 5.8 billion by 2030. The market is growing at a CAGR of 9.1% during the forecast period 2024–2031. Vegan desserts have gained significant popularity in recent years, catering to individuals following plant-based diets or those with dietary restrictions.
These sweet treats are not only delicious but also align with ethical and environmental values. Plant-based desserts encompass a wide range of options, including vegan cakes, cookies, chocolates, and ice creams, all made without the use of animal products such as dairy, eggs, or gelatin.
The market is projected to experience significant growth in the forecast period, primarily driven by the increasing consumer demand for low-fat, lactose-free, and all-natural products. Additionally, Market key players have been introducing a wide variety of plant-based desserts that successfully replicate the quality, taste, and visual appeal of traditional sweet dishes and drives the global vegan desserts market size. Furthermore, the increasing focus on health among consumers has motivated manufacturers to incorporate healthier ingredients in their food offerings.
Market Summary
| Metrics | Details |
| CAGR | 9.1% |
| Size Available for Years | 2021-2030 |
| Forecast Period | 2024-2031 |
| Data Availability | Value (USD ) |
| Segments Covered | Product, Distribution Channel, and Region |
| Regions Covered | North America, Europe, Asia-Pacific, South America and Middle East & Africa |
| Fastest Growing Region | Asia-Pacific |
| Largest Region | North America |
| Report Insights Covered | Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, Porter’s Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis and Other key Insights. |
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Market Dynamics
The Growing Availability of Vegan Food Products at Major Retailers.
Vegan food products are readily available through diverse retail channels, ranging from conventional grocery stores to specialty health food stores, online retailers, and even convenience stores. Supermarkets, in particular, account for a significant portion of the sales, with many of the leading retail chains actively introducing new vegan food options. Supermarkets often feature prominent display signs that announce the arrival of exciting new plant-based product variations. The dedicated sections within grocery stores specifically designated for plant-based products also contribute to the increasing consumer interest in these items. For instance, on February 8, 2022, Aldi Supermarkets saw a 500% rise in vegan food sales.
The Limited Availability and Accessibility of Vegan Options.
The limited availability and accessibility of vegan desserts is hindering the growth of the market. This could be due to a lack of awareness and demand in certain areas, resulting in fewer options for consumers seeking vegan dessert choices. Additionally, some establishments may not prioritize or offer a wide range of vegan dessert options, limiting the availability for those following a plant-based diet. Improving the distribution and accessibility of vegan desserts can help overcome this challenge and cater to the increasing demand for plant-based sweet treats.
Market Segment Analysis
The global vegan dessert market is segmented based on product, distribution channel and region.
Frozen Desserts Segment Accounts for the Highest Share in Global Vegan dessert Market
Vegan frozen desserts are a delicious and cruelty-free alternative to traditional frozen treats. They are made without any animal products, such as dairy or eggs, and instead utilize plant-based ingredients. For instance, Vegan ice cream is made using non-dairy milk alternatives, such as almond milk, coconut milk, soy milk, or cashew milk, as a base. These milks are blended with sweeteners, natural flavorings, and sometimes thickeners like coconut oil or avocado to create a creamy and satisfying texture. There is a wide range of vegan ice cream. For instance, on May 18, 2023, Haagen-Dazs launched new plant-based frozen dessert in Canada.
Source: DataM Intelligence Analysis (2023)
Market Geographical Share
North America is Expected to be the Dominating Region During Forecast Period.
By region, the global vegan dessert market is segmented into North America, South America, Europe, Asia-Pacific, Middle-east and Africa.
In 2022, North America emerged as the dominant market for vegan desserts, accounting for over 38.6% of the global revenue. The growing number of individuals adopting a vegan lifestyle has significantly contributed to the increased demand for vegan desserts in this region. Mercy For Animals reported that in 2022, 25% of the U.S. population aged between 25 to 34 years old identified as vegetarian or vegan. Additionally, a report by the Plant-Based Foods Association and The Good Food Institute highlighted that retail sales of plant-based foods in the U.S. witnessed a notable growth of more than 15% in 2022. For instance, on August 23, 2023, Maryland launched vegan biscuits in the US.
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Source: DataM Intelligence Analysis (2023)
Vegan Dessert Companies
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.
Covid Impact on Market
The COVID-19 pandemic has affected the vegan dessert industry in several ways. Supply chain disruptions have made it difficult to source ingredients, leading to shortages and increased prices. The closure of restaurants and cafes has reduced the demand for vegan desserts served in these establishments.
However, businesses have shifted to online platforms and delivery services to reach customers at home. The focus on health and wellness has increased interest in plant-based diets, including vegan desserts. Home baking have also become popular, with people creating their own vegan treats. Despite challenges, the industry has shown resilience and innovation in adapting to changing circumstances.
Key Developments
- On April 18, 2020, Just Desserts' vegan desserts were awarded the Certified Vegan Logo, which confirms that their products are free from animal products or byproducts and have not undergone any animal testing. The certification from VEGAN.ORG assures customers that Just Desserts' vegan products meet the stringent standards set for vegan products, and the company has chosen to use this respected independent certification to provide customers with confidence and assurance.
- On January 5, 2021, Graeter’s Ice Cream, America’s oldest family-owned craft ice cream maker, launched line of frozen vegan desserts called perfect indulgence.
- On January 2, 2023, Maloney launched Dairy-free baked goods, such as vegan cookies and cakes in India.
Why Purchase the Report?
- To visualize the global vegan dessert 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 dessert 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 product of all the major players.
The global vegan dessert market report would provide approximately 77 tables, 82 figures and 195 Pages.
Target Audience 2024
- Manufacturers/ Buyers
- Industry Investors/Investment Bankers
- Research Professionals
- Emerging Companies
