Vegan Cookies Market Size, Share Global Analysis Report, 2024 – 2032

Industry Insights

[228+ Pages Report] According to Facts & Factors, the global vegan cookies market size was valued at USD 387.23 million in 2023 and is predicted to surpass USD 814.03 million by the end of 2032. The vegan cookies industry is expected to grow by a CAGR of 9.00% between 2024 and 2032.

Market Overview

Vegan cookies are completely plant-based products made without any animal-derived ingredients. Vegan cookies have a very similar texture and taste like the traditional cookies, thereby making it ideal for people following vegan diets. The key ingredients used in vegan cookies include fats, sweeteners, flour, binders, leavening agents, flavors, and other add-ins. Vegan cookies are low in cholesterol and saturated fats, thereby helping people to follow a healthy lifestyle. Also, vegan cookies are ideal for people with egg, dairy, and honey allergies.

Key Insights

• As per the analysis shared by our research analyst, the global vegan cookies market size is estimated to grow annually at a CAGR of around 9.00% over the forecast period (2024-2032).
• In terms of revenue, the global vegan cookies market size was valued at around USD 387.23 million in 2023 and is projected to reach USD 814.03 million by 2032.
• Increasing inclination of people toward vegan diets is driving the growth of the global vegan cookies market.
• Based on the sales channels, the hypermarket segment is growing at a high rate and is projected to dominate the global market.
• Based on the cookie types, the chocolate-vegan cookies segment is projected to swipe the largest market share.
• Based on region, North America is expected to dominate the global market during the forecast period.

Growth Drivers

• Increasing inclination of people towards vegan diets is driving the growth of the global market.

The rising popularity of vegetarian diets all across the globe is a primary factor accelerating the growth of the global vegan cookies market during the forecast period. An increasing number of people are adopting a vegan lifestyle because of environmental health and ethical reasons. However, the rising focus of people on sustainability practices is also positively impacting ethically-minded consumers, which is a crucial factor for the growth of the industry. Also, the increasing accessibility of vegan products in mainstream retail channels is supporting the market's growth.

Also, online platforms, health food stores, and supermarkets are also including more sustainable and healthier food options like vegan cookies because of the rising trend of eating healthier among people. Marketing strategies are another important factor positively impacting the growth trajectory of the industry. Celebrity endorsements, social media campaigns, educational campaigns, etc., are raising consumer awareness regarding vegan food products.

Therefore, all these factors are expected to propel the growth of the market manifolds in the coming years. For instance, Grupo Bimbo acquired a leading producer of ultra-premium organic cookies, Emmy's Organic in 2021. This acquisition is likely to help the company enter the sweet-baked goods market.

Restraints

• Cultural and dietary preferences are expected to hamper the growth of the global market.

People view vegan cookies as less healthier and overpriced items which is likely to negatively impact the growth trajectory of the vegan cookies industry during the forecast period. Also, traditional dietary habits and cultural preferences are expected to limit the adoption rate of vegan products. Animal-derived products are deeply ingrained in many cultures, and overcoming those food preferences is a challenge.

Opportunities

• Product innovation is likely to foster growth opportunities in the global market.

The ongoing research and development activities are expected to revolutionize the market in the coming years. Manufacturers are coming up with continuous innovations like new ingredients, textures, and flavors to improve vegan cookies in every aspect. Such steps are expected to open new growth opportunities in the global vegan cookies market in the coming years. For instance, Renewal Mill collaborated with Miyoko to come up with a new vegan cookie manufactured from upcycled ingredients in 2022. These are gluten-free cookies.

Challenges

• Competition from traditional cookies is a big challenge in the global market.

There are many well-established traditional manufacturers who have a strong presence in the market. Therefore, overcoming such customer loyalty is a big challenge in the vegan cookies industry. Convincing people to swap their traditional cookies with vegan cookies requires time, investment, and intense marketing & educational strategy.

Segmentation Analysis

The global vegan cookies market can be segmented into sales channels, cookie types, and regions.

On the basis of sales channels, the market can be segmented into hypermarkets, specialty stores, convenience stores, traditional retailers, big box retailers, e-commerce websites, company websites, and others. Hypermarkets will be the fastest-growing segment in the vegan cookies industry in the coming years. A hypermarket is a one-stop shop experience for busy people looking forward to regular, convenient grocery shopping. Hypermarket includes an extensive range of products with a wide range of products on display to boost product visibility and allow consumers to discover more useful products like vegan cookies.

Hypermarkets giants are boosting their global presence, thereby helping retailers increase their consumer base. Hypermarkets are expanding their infrastructure in urban areas because of the rising disposable income of people, which is further likely to accentuate the demand for convenient product offerings like vegan cookies. Hypermarkets have established consumer trust and brand recognition, which further help vendors sell their vegan cookies products through these sources. People are becoming more aware of emerging vegan brands and their authenticity of products, which is expected to propel the demand for plant-based products like vegan cookies in the market.

Nowadays, hypermarkets are building a dedicated section for their health and wellness products, which only target health-conscious consumers and foster healthier eating habits and ethical consumption among consumers. Therefore, such a landscape is likely to significantly accentuate the growth of the segment manifolds in the coming years.

On the basis of cookie types, the market can be segmented into molasses-vegan cookies, chocolate-vegan cookies, peanut butter-vegan cookies, oatmeal-vegan cookies, walnut-vegan cookies, and others. Chocolate vegan cookies segment accounts for the largest of the global vegan cookies market during the forecast. The wide popularity of chocolate is a primary reason for the high growth rate of the segment. Its versatility and rich taste further appeal to consumers. Moreover, people indulge in healthier options like chocolate because of its health benefits. It is made up of organic ingredients and high-quality beans, thereby making it a guilt-free indulgence for consumers.

Moreover, continuous innovation in the vegan cookie product segment is also likely to boost people's trust. The introduction of double chocolate variants, chocolate chips, etc., is also attractive to people. Moreover, the growing awareness among people regarding environmental sustainability and animal welfare is further inclining people towards vegan products. Vegan chocolate cookies are widely available in different retail formats like specialty stores, supermarkets, hypermarkets, and online platforms for people's convenience. This wide accessibility of the products is likely to accelerate their sales in the coming years. Manufacturers are incorporating functional ingredients like antioxidants and protein to appeal to health-conscious consumers and swipe a larger market area. All these factors are likely to foster growth opportunities in the segment.

Report Scope

Regional Analysis

• North America to dominate the global market.

North America accounts for the largest share of the global vegan cookies market during the forecast period. The rising awareness among people regarding the health benefits of a vegan diet is a primary reason for the high growth rate of the regional market. People in the region are swiping their traditional calorie-dense cookies with healthier vegan cookies.

Moreover, the rising concerns regarding the environmental impact and animal welfare are further pushing consumers to opt for vegan products. Manufacturers are experimenting with the products and coming up with new formulations, textures, and flavors to swipe a larger market base. They are coming with non-GMO, organic, and gluten-free options, which is further expected to expand the scope of the regional market. North America has a strong presence in mainstream retail stores, specialty stores, etc., which helps food stores make products more accessible, thereby boosting sales.

The United States is emerging as the largest market for vegan cookies. The presence of retailers like Trader Joe's, Walmart, and Whole Foods Market in the US is positively impacting the growth of the market. Canada is also producing a high demand for vegan cookies. Also, the Canadian government is promoting sustainability and healthy eating practices, which is likely to positively impact the growth trajectory of the regional market further.

Asia Pacific will experience rapid growth in the coming years. Increasing awareness among people regarding the health and benefits of eating snacks is likely to contribute significantly towards the growth of the regional market. The expanding vegan population in APAC is another major factor that is positively impacting the regional market. The significant shift in demographics is largely due to the rising awareness among people regarding environmental sustainability practices.

Also, the government is supporting plant-based diets because of sustainability and animal welfare reasons. All these factors are anticipated to lower the carbon footprints and promote healthy eating habits. The fast proliferation of modern retail formats is further increasing the accessibility of vegan cookies. The market for vegan cookies in India is expanding at a fast pace because of the rising vegetarian population. The country already has a good number of vegetarian consumers because of cultural reasons, which is another major reason for the high demand for plant-based products like vegan cookies in the region.

However, Southeast Asian nations like Indonesia, Malaysia, Thailand, and Singapore are also witnessing significant demand for vegan products like cookies because of increasing health awareness, income, and urbanization. Such a landscape is expected to propel the growth of the APAC market in the coming years. For instance, Tate's Baked Shop came up with the first-line portfolio of vegan cookies in 2021. The products come in vanilla maple and buttery chocolate chip flavors.

Competitive Analysis

The key players in the global vegan cookies market include:

• Monde Nissin Corporation
• Tofutti Brands Inc.
• Udi's Gluten Free
• Simple Mills Inc.
• Goodie Girl Cookies
• Emmy's Organics Inc.
• Alternative Baking Company Inc.
• Partake Foods
• Lenny & Larry's LLC
• Goodie Girl Cookies
• Enjoy Life Foods

For instance, Valley Natural Foods successfully took over Kakookies in 2022. The product specializes in the production of gluten-free and snackable cookies. These come in pouch and grab-n-go formats.

The global vegan cookies market is segmented as follows:

By Sales Channels Segment Analysis

• Hypermarkets
• Specialty Stores
• Convenience Stores
• Traditional Retailers
• Big Box Retailers
• E-Commerce Websites
• Company Websites
• Others

By Cookie Types Segment Analysis

• Molasses-Vegan Cookies
• Chocolate-Vegan Cookies
• Peanut Butter-Vegan Cookies
• Oatmeal-Vegan Cookies
• Walnut-Vegan Cookies
• Others

By Regional Segment Analysis

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • Southeast Asia
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America