Asia-Pacific Plant Based Bakery Snaks and Confectionery Market Outlook, 2028

Increasing awareness of environmental impact and a shift towards plant-based diets drive market growth in Asia-Pacific by 2028.

The plant-based bakery and confectionery market in the Asia-Pacific region is experiencing a remarkable transformation, driven by shifting consumer preferences towards healthier, sustainable, and ethically conscious food choices. This dynamic sector has witnessed exponential growth in recent years, reflecting the diverse culinary traditions and evolving dietary habits of the region's vast and diverse population. From traditional sweets infused with plant-based ingredients to innovative vegan pastries and confectionery, the Asia-Pacific market exemplifies a fusion of heritage and innovation. As consumers increasingly prioritise health, environmental sustainability, and ethical considerations, the demand for plant-based bakery and confectionery products has surged, creating a vibrant landscape of plant-powered treats that cater to both local tastes and global trends. The Asia-Pacific region is incredibly diverse in terms of its culinary traditions. Each country within the region has its own unique flavours, ingredients, and techniques that contribute to the richness of plant-based bakery and confectionery offerings. From Indian vegan sweets to Japanese vegan mochi, the market embraces a wide range of tastes. Many plant-based bakery and confectionery items in Asia and the Pacific are deeply rooted in cultural heritage and tradition. These items are often associated with festivals, celebrations, and religious practices. For example, vegetarian sweets are an integral part of Indian festivals like Diwali. The use of locally sourced ingredients is a hallmark of the culture in this market. Ingredients such as coconut, rice, tropical fruits, and various nuts and seeds are often used to create plant-based sweets and snacks that reflect the flavours of the region. Street food is an integral part of many Asian cultures. Plant-based street food options, including vegan sweets and snacks, are gaining popularity, offering delicious and affordable treats to a wide range of consumers. In some cultures, plant-based bakery and confectionery items are prepared and consumed during specific religious observances and ceremonies. These items hold special significance and are an integral part of cultural rituals. According to the research report, "Asia Pacific Plant-Based Bakery Snacks and Confectionery Market Outlook, 2028," published by Bonafide Research, the Asia Pacific plant-based bakery snacks and confectionery market is anticipated to add over USD 700 million from 2023 to 2028. A significant factor is people's growing awareness of health and wellbeing. Because traditional bakery and confectionery goods are frequently linked with high levels of saturated fats, cholesterol, and artificial additives, consumers are looking for healthier snack and dessert choices. Many cultures and religions in Asia have dietary restrictions that encourage the consumption of plant-based foods on specific occasions or as part of daily life. This cultural influence drives demand for plant-based bakery and confectionery items. Culinary innovation has led to the creation of plant-based bakery and confectionery items that incorporate diverse flavours and ingredients from different cultures in the Asia-Pacific region. These unique offerings attract adventurous consumers. The choices made by consumers in the Asia-Pacific area are significantly influenced by international food trends, particularly those that are concerned with sustainability and health. Adoption of plant-based diets and goods is part of this. Environmental sustainability and ethical concerns about animal welfare are influencing issues that are growing in importance. Customers are selecting plant-based products to uphold their ethical principles and lessen their environmental impact. In some countries, artisanal plant-based bakeries and confectioneries are on the rise. Skilled artisans create high-quality, handcrafted plant-based treats that cater to discerning consumers. In countries where Buddhism is prevalent, plant-based diets have strong historical and cultural ties to religious practices. This influence contributes to the popularity of plant-based bakery and confectionery items.

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Asia-Pacific dominates the market and is the largest and fastest-growing market in the animal growth promoters industry globally

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The Asia-Pacific bakery snacks and confectionery market includes countries like China, Japan, Australia, South Korea, and India. In the Asia-Pacific market, China is contributing to the market. China boasts the world's largest population, and as a result, it has a massive consumer base. The sheer size of the population means that even a relatively small percentage of consumers shifting towards plant-based options can have a substantial impact on the market. Health and wellness trends have gained prominence in China. Rapid urbanisation and changing lifestyles in China have led to increased demand for convenient and healthier snack options. Plant-based bakery and confectionery items, which are often perceived as convenient and better for health, fit this trend. China's economic growth has resulted in a rising middle class with higher disposable incomes. This demographic shift has led to increased spending on premium and health-conscious food products, including plant-based options. Many plant-based bakery and confectionery items in China carry health and nutrition claims, attracting health-conscious consumers who seek out products with specific nutritional benefits. Furthermore, India is also a growing market. India has a rich cultural tradition of vegetarianism, with a significant portion of the population abstaining from meat. This cultural foundation provides a natural inclination towards plant-based foods, including bakery and confectionery items. Many Indians follow religious practices that encourage or mandate vegetarianism. This includes Hinduism, Jainism, and some sects of Buddhism. Plant-based bakery and confectionery products cater to the dietary preferences of these communities. India has witnessed a surge in the adoption of veganism. This movement, driven by ethical, environmental, and health concerns, has propelled the demand for plant-based products, including bakery and confectionery items. The history of the plant-based bakery snacks and confectionery market in the Asia Pacific is a testament to the region's rich cultural diversity and evolving culinary traditions. Historically, many countries in Asia have embraced vegetarianism as part of their cultural and religious practices, laying the foundation for a thriving market of plant-based sweets and snacks. Ancient recipes dating back centuries incorporated plant-based ingredients like rice, legumes, and coconut into delectable desserts and snacks. These traditional offerings, often prepared during festivals and special occasions, continue to be an integral part of Asian culinary heritage. In more recent years, the plant-based bakery and confectionery market in Asia-Pacific has experienced significant growth and transformation. The rise of health and wellness awareness, coupled with a global shift towards plant-based diets, has fueled the demand for healthier, cruelty-free alternatives to traditional sweets and snacks. This trend has given rise to innovative plant-based offerings that cater to modern tastes and dietary preferences. The advent of globalisation and the influence of international food trends have also played a role in shaping the market. Moreover, the plant-based food industry in Asia Pacific has benefited from advancements in food technology and manufacturing processes, allowing for the creation of plant-based bakery and confectionery items with improved taste and texture. These innovations have made plant-based products more accessible and appealing to a broader range of consumers. In recent years, the plant-based bakery and confectionery market has witnessed a surge in demand, driven by a growing awareness of the environmental and ethical implications of food choices. Governments in the region have also recognised the importance of promoting sustainable and healthier diets, further supporting the growth of the plant-based food industry. Today, the Asia Pacific stands as a dynamic and evolving market where tradition meets innovation in the realm of plant-based bakery snacks and confectionery, offering a delicious fusion of flavours and values for consumers across the region. Based on the product types, there are biscuits and cookies, breads and rolls, chocolates, and others. Plant-based diets have a long history in many Asian societies, and these diets have been shaped by religious and cultural traditions. This custom has set the stage for the region's adoption of plant-based bread and buns. The creation of plant-based bread and rolls that closely resemble the flavour and texture of conventional goods has been made possible by advancements in food technology and ingredient innovation, making them more appealing to customers. With the rise in gluten sensitivities and celiac disease, gluten-free rolls made from alternative flours like rice, almond, or chickpea flour are gaining traction. Rolls inspired by Asian flavours, such as matcha (green tea), red bean, or taro, are popular in both traditional and innovative plant-based versions. Furthermore, plant-based biscuits are gaining traction in the Asia-Pacific market. In the Asia-Pacific area, the popularity of vegan and vegetarian diets has increased the demand for plant-based snacks like cookies. These goods fit individuals who shun animal products' dietary preferences. Plant-based biscuits often have simpler ingredient lists, and consumers are increasingly looking for transparency in food labels. Knowing what goes into their snacks is important to health-conscious consumers. The growing middle class in Asia-Pacific countries, with increased disposable income, is driving demand for premium and health-conscious food products. This demographic shift has contributed to the growth of the plant-based food market.

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Manmayi Raval

Manmayi Raval

Research Consultant

In terms of distribution channels, these include hypermarkets and supermarkets, convenience stores, e-commerce, and others. E-commerce platforms offer consumers the convenience of browsing and purchasing a wide variety of plant-based bakery and confectionery products from the comfort of their homes. This accessibility is particularly appealing to busy urban populations in the Asia-Pacific region. E-commerce platforms provide a platform for a diverse range of plant-based products, including those from local and international brands. Consumers can explore a wider variety of options and discover new products that may not be readily available in physical stores. In some parts of the Asia-Pacific region, access to physical stores, especially those offering specialty or plant-based products, can be limited. E-commerce bridges this gap by allowing consumers in rural areas to access a broader range of products. Some e-commerce platforms offer subscription services for plant-based products, allowing consumers to receive regular deliveries of their favourite items, ensuring a constant supply of their preferred snacks and confectionery. Recent products Launches: • Ben & Jerry's launched its first vegan ice cream in India in 2022. The ice cream is made with almond milk and is available in two flavors: Chocolate Fudge Brownie and Peanut Butter Cup. • Nestlé launched its plant-based KitKat bars in South Korea in 2022. The bars are made with rice milk and are available in two flavors: Original and Hazelnut. • JUST Egg launched its vegan egg patty in Singapore in 2022. The patty is made with mung bean protein and is available at select restaurants. Considered in this report • Geography: Asia Pacific • Historic year: 2017 • Base year: 2022 • Estimated year: 2023 • Forecast year: 2028

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Manmayi Raval

Aspects covered in this report • Asia Pacific Bakery Snacks and Confectionery with its value and forecast along with its segments • Country-wise Bakery Snacks and Confectionery market analysis • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation Countries covered in the report • China • Japan • India • Australia • South Korea By Products: • Biscuit and Cookies • Breads and Rolls • Chocolates • Others By Distribution Channel: • Convenience store • Hypermarket/Supermarket • E-Commerce • Others The approach of the report: This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, and government-generated reports and databases. After gathering the data from secondary sources, primary research was conducted by conducting telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started making primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations and organizations related to the Sesame Oil industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry.

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Asia-Pacific Plant Based Bakery Snaks and Confectionery Market Outlook, 2028

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