The global vegan baking ingredients market 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 is expected to grow to $2.5 billion in 2027 at a CAGR of 8.3%.
The vegan baking ingredients market consists of sales of apple cider vinegar, barley malt, and buckwheat flour. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
The vegan baking ingredients are used for baking various products that are good alternatives for artificial and processed ingredients and foods usually used in the baking industry. Vegan baking ingredients are components that do not contain any by-products or products derived from animals.
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