Global Vegan Cookies Market - 2023-2030

Market Overview

The Global Vegan Cookies Market reached US$ 321.1 million in 2022 and is projected to witness lucrative growth by reaching up to US$ 598.7 million by 2030. The market is growing at a CAGR of 8.1% during the forecast period 2023-2030.

The rise in consumer interest and demand for plant-based foods is a significant trend driving the growth of the vegan cookies market. As more individuals adopt vegan, vegetarian, or flexitarian diets, the demand for plant-based cookie options has surged. Vegan cookies, made without animal-derived ingredients, align with this growing preference for plant-based eating.

The market for vegan cookies has witnessed an expansion in product variety and innovation. Manufacturers are offering a wider range of flavors, textures, and ingredient combinations to cater to diverse consumer preferences. This includes options like chocolate chip, peanut butter, oatmeal, and unique flavors that go beyond traditional cookie varieties. The availability of diverse options appeals to a broader consumer base and drives market growth.

Market Dynamics

The Rising Vegan and Vegetarian Population is Driving the Market Growth

According to World Animal Foundation, over 1.5 billion people are vegetarians worldwide, with 75 million choosing to follow a vegetarian diet, and there are about 88 million vegans. The growing number of individuals adopting vegan and vegetarian diets has created a larger consumer base for vegan cookies. Vegans and vegetarians actively seek out plant-based alternatives to conventional food products, including cookies. As a result, the demand for vegan cookies has increased, driving market growth.

The rising awareness about the health benefits and ethical considerations associated with vegan and vegetarian diets has influenced consumer choices. Many individuals are opting for plant-based diets to improve their health, reduce their environmental impact, and address animal welfare concerns. Vegan cookies, which align with these values, provide a guilt-free indulgence for those seeking healthier and ethical alternatives.

Increasing Health Consciousness Among Consumers can Drive the Market Growth

As people become more health-conscious, they seek out food options that align with their dietary goals and overall well-being. Vegan cookies are often perceived as a healthier alternative to traditional cookies because they are free from animal products, cholesterol, and some common allergens. The absence of dairy and eggs in vegan cookies also appeals to individuals with lactose intolerance or egg allergies.

Vegan cookies often incorporate nutrient-dense ingredients such as whole grains, nuts, seeds, and natural sweeteners. These ingredients offer additional nutritional benefits like fiber, healthy fats, vitamins, and minerals. Health-conscious consumers appreciate the inclusion of these wholesome ingredients, which can contribute to a balanced diet and promote overall health.

Limited Consumer Awareness about Vegan Cookies is Restraining the Market Growth

Many consumers still have a limited understanding of what it means to follow a vegan lifestyle and the benefits of vegan products. They may not be aware of the reasons why individuals choose vegan cookies or the potential health and environmental advantages they offer. This lack of awareness can make it challenging for manufacturers to effectively market and promote their vegan cookie products.

There can be misconceptions or stereotypes associated with veganism, including notions that vegan products may be bland, unappetizing, or lacking in taste. These perceptions can deter consumers from trying vegan cookies, even if they are available in the market. Overcoming these misconceptions and educating consumers about the deliciousness and variety of vegan cookie options is crucial to expanding the consumer base.

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 to 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).

Segment Analysis

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

Consumer Preference and Demand for Chocolate Vegan Cookies Boost the Segment Growth

Depending upon product type, the vegan cookies market is divided into potato chips, extruded snacks, nuts & seeds, popcorn, meat snacks, and others.

In 2022, chocolate vegan cookies had the highest share in the global vegan cookies market.

Chocolate is a universally loved flavor, and its popularity extends to the vegan consumer base as well. Chocolate vegan cookies provide a familiar and indulgent taste experience that appeals to a broad range of consumers. The combination of chocolate flavor and the vegan attribute makes these cookies a desirable choice for both vegans and non-vegans looking for a delicious treat.

Chocolate as a flavor offers versatility for product innovation. For instance, NOMO launched cookie dough block, its biggest vegan chocolate bar. Manufacturers have developed a wide range of chocolate vegan cookie varieties, including double chocolate, chocolate chip, chocolate fudge, and more. This variety provides options for consumers with different preferences, ensuring a larger market share for chocolate vegan cookies.

Geographical Analysis

Rising Vegan Population in Europe Region

In 2021, Europe had a significant share in the vegan cookies market. Europe has experienced a notable increase in the number of people adopting vegan and vegetarian lifestyles. According to HappyCow, there are 3473 vegan restaurants in Europe. The growing vegan and vegetarian population in Europe has created a substantial consumer base for vegan cookies. As a result, the demand for vegan cookies has increased, leading to a significant market share in Europe.

Europe is known for its strong emphasis on health and environmental sustainability. Many consumers in Europe are highly conscious of the impact of their food choices on personal health and the environment. Vegan cookies, which are perceived as healthier and more environmentally friendly than conventional cookies, align with the values and preferences of European consumers. This has contributed to their significant market share in the region.

Competitive Landscape

The major global players include: Alternative Baking Co., Divvies LLC, Emmy's Organics, Lenny & Larry's, LLC, Maxine's Heavenly, Partake Foods, Maya's Cookies, Uncle Eddie's Vegan Cookies, Valley Natural Foods and Steve & Andy's.

Why Purchase the Report?

• To visualize the global vegan cookies market segmentation based on product type, distribution channel, and region and understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of vegan cookies 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 Cookies Market Report Would Provide Approximately 53 Tables, 51 Figures And 102 pages.

Target Audience 2023

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