Vegan Flour Market Assessment, Size, Value, Share, Growth, Trends, Competition, Industry Analysis, Consumer Surveys, Market Intelligence, Actionable Insights Report; By Nature, By Product Type, By Application, By Region and By Country; Outlook and Forecast, 2024 – 2032

Report Summary

The Global Vegan Flour Market size in terms of revenue was valued at USD 1.4 billion in 2023 and is predicted to surpass USD 2 billion by the end of 2032. The vegan flour industry is expected to grow by a CAGR of 5% between 2024 and 2032.

Vegan Flour Market: Overview

Vegan flour is made from plant-based sources and does not include any animal-derived ingredients. Vegan flour is widely used in different applications like baking and cooking to offer texture and structure to a wide range of diverse recipes that were traditionally made from animal ingredients. Vegan flour is highly ideal for people with food allergies as it is gluten-free. Additionally, it offers a complete source of protein and other important nutrients to people following vegetarian or vegan diets. Vegan flour is made from oats, rice, wheat, almonds, coconut chickpeas, soy, and many others.

Key Insights

• As per the analysis shared by our research analyst, the global vegan flour market size is estimated to grow annually at a CAGR of around 5XX% over the forecast period (2024-2032).
• In terms of revenue, the global vegan flour market size was valued at around USD 1.4 billion in 2023 and is projected to reach USD 2 billion by 2032.
• Growing demand for plant-based alternatives is driving the growth of the global vegan flour market.
• Based on the nature, the organic segment is growing at a high rate and is projected to dominate the global market.
• Based on type, the soy segment is expected to dominate the global market.
• Based on the application, the bakery segment is projected to hold the largest market share.
• Based on region, North America is expected to dominate the global market during the forecast period.

Vegan Flour Market: Growth Drivers

Growing demand for plant-based alternatives is driving the growth of the global market

There is a significant shift in demand from animal-based products to plant-derived food items. This shift is highly characterized by rising concerns among people regarding personal health, environmental sustainability, and animal welfare. Therefore, an increasing number of people are adopting a vegetarian lifestyle, which in turn is a major reason for the high growth rate of the global vegan flour market. Moreover, the increasing availability of these products due to the high demand for vegan flour is also expected to positively impact the growth of the industry in the coming years. Such high accessibility of these products is likely to boost sales as it has become easier to incorporate these products into cooking and baking. Governments across several regions are also issuing mandates and regulations to promote plant-based diets as a part of their sustainability goals. These regulations are expected to foster growth in the industry.  For instance, Ingredion said to collaborate with Northern Quinoa Production in 2020. It is a commercial agreement that aims to distribute NorQuin’s quinoa flour.

Vegan Flour Market: Restraints

Limited awareness among people is expected to hamper the growth of the global market

Although there is increasing interest in plant-based diets, a chunk of people are still uncertain about using these products. Such a lack of awareness regarding the health benefits of plant-based products like vegan flour is expected to hamper the growth of the global vegan flour market. Also, people assume that vegan flour products may not have a similar taste and texture profile as traditional flower products, which are further likely to slow down the growth of the industry.

Vegan Flour Market: Opportunities

Product development is expected to foster growth opportunities in that global market

The ongoing innovations in the vegan flour product line are expected to foster growth opportunities in the vegan flour industry. Manufacturers are coming up with new formulas to improve the mouthfeel and texture of vegan products. Their constant efforts to mimic the taste and texture of traditional animal-based ingredients in products are expected to widen the scope of the industry. These innovations are driving people's interest in plant-based products like vegan flour. The developments in products are increasingly replacing the traditional animal-based ingredients in recipes like pasta, sauces, and baked goods, which is further expected to contribute towards the high growth rate of the industry. For instance, Plantible Foods came up with plant-based egg alternatives for baking applications in 2023. Rubi Whisk is one of the first products launched by the company to replace animal ingredients.

Vegan Flour Market: Challenges

Cost consideration is a big challenge in the global market

Vegan flour is quite expensive when compared to traditional products which is a big challenge in the vegan flour industry. Additionally, there are certain regions which still do not include products like vegan flours in the shopping centers, grocery stores, and other retail platforms because of the less demand in the market. Therefore, such a landscape is expected to slow down the growth of the industry in the coming years.

Vegan Flour Market Report Scope & Snapshot

Vegan Flour Market: Segmentation

The global vegan flour market can be segmented into nature, type, application, and region.

On the basis of nature, the market can be segmented into conventional and organic. The organic segment accounts for the largest share of the vegan flour industry. Organic vegan flour is made from plant ingredients that are nurtured without any genetically modified organisms, fertilizers or synthetic pesticides. Therefore, it aligns largely with the people's emerging health and environmental concerns. People are looking for food products that are produced without the use of synthetic ingredients and are environmentally sustainable. Furthermore, organic products are certified by regulatory authorities and other trustworthy institutions. Therefore, these products come with marks of authenticity and safety. People view organic products like vegan flour as a premium product with high purity and nutritional value when compared to other available options. Therefore, people are willing to pay premium prices, which further contributes to the domination of the segment in the market. Additionally, organic vegan flour is in high demand, which is another major reason for its high availability across retail platforms like specialty health stores and other platforms, thereby making it more accessible to consumers. Also, the governments are promoting organic farming practices, which is another major reason expected to boost the growth of the segment in the coming years.

On the basis of type, the market can be segmented into cereal-based flour, nut-based flour, quinoa flour, rice flour, oat flour, soy flour, and others. The soy flour segment is expected to witness the highest growth rate in the coming years. Soy is in high demand because it is a good choice for people looking forward to plant-based sources of protein. However, its growing popularity is highly influenced by the emerging trend of veganism and plant-based diets. Soil is considered to be a complete protein source that contains all essential nutrients like vitamins, minerals, and fibers. Therefore, its potential health benefits attract consumers. It also helps people fight cholesterol and improve their heart health. Soy flour is highly versatile in nature and can be used in a diverse range of cooking like baked foods, snacks, beverages, meat, substitutes, and many others, which is a major reason for the high growth rate of the segment in the vegan flour industry. Soy is naturally gluten-free, and therefore, it is ideal for people with food allergies or gluten intolerance.

On the basis of application, the market can be segmented into functional foods, confectioneries soup, sauces & dressings, bakery products, and others. The bakery product segment is likely to dominate the global vegan flour market during the forecast period. Vegan flour like almond oats, rice, wheat, and others are widely used in bakery applications like preparing muffins, cookies, pastries, and many more. People are increasingly shifting from animal-based bakery items to vegan bakery products, which is also likely to propel the high growth rate of the segment. Baked goods are deeply ingrained in many cultures. Therefore, with the increasing adoption of a vegetarian lifestyle, there is a high demand for vegan ingredients that can replace traditional animal-based products in bakery applications. The bakery sector is evolving rapidly, and in order to cater to the diverse consumer preferences according to dietary trends, manufacturers are also innovating with baked goods options to expand the market.

Vegan Flour Market: Regional Analysis

North America to dominate the global market

North America is the fastest-growing region in the global vegan flour market. The region is witnessing a high adoption rate of plant-based lifestyles, which is a major reason for the high growth rate of the market. People are increasingly looking out for vegan alternatives like vegan flour. A vegan diet or lifestyle is highly influenced by the rising awareness among people regarding animal welfare, sustainability, and environmental health. Also, the fast expansion of gluten-free products because of increasing incidences of people with food allergies in the region is also expected to positively impact the growth trajectory of the regional market during the forecast period. Additionally, the ongoing product innovations and developments in the region are also anticipated to widen the scope of the regional market in the coming years. Manufacturers are coming up with unique blends and formulations with enhanced nutritional value, flavor, and texture to align with the expectations of consumers.

Asia Pacific is another major region that is expected to see significant developments in the vegan flour industry during the forecast period. One of the major reasons for the high growth rate of the regional market is the rapid urbanization and changing lifestyle of the people. Urbanization is increasing people's disposable income, which is further driving demand for convenient and healthy food options. Also, the high influence of Western culture in the region is increasing the demand for products like vegan flour. Moreover, the rising awareness among people regarding health and wellness is further driving the demand in the region. People are making conscious choices regarding their dietary plans and food options. Also, the region is popular for its culinary tradition, which includes many plant-based dishes, which is also expected to support the growth trajectory of the regional market. For instance, Ulrick & Short came up with a unique functional egg substitute in 2023. Its product ovaprox 14 is highly versatile in nature and can also be used for diverse bakery applications.

Vegan Flour Market: Competitive Analysis

The key players in the global vegan flour market include Archer Daniels Midland Company, Ardent Mills, Arrowhead Mills, Bob's Red Mill, Cargill, Conagra Brands, Flour Farm's, King Arthur Flour Company, Let's Do Organic, Spectrum Essentials, and others.

The global vegan flour market is segmented as follows:

By Nature

• Conventional
• Organic

By Product Type

• Cereal-Based Flour
• Nut-Based Flour
• Quinoa Flour
• Oat Flour
• Soy Flour
• Others

By Application

• Functional Foods
• Confectionaries
• Soups, Sauces & Dressings
• Bakery Products
• Others