Aquafaba Market Flourishing at 16.4% CAGR to Reach US$ 189.6 Million by 2034: Fact.MR Report

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Demand for aquafaba as a vegan and allergen-free egg substitute is rising in the baking industry, says Fact.MR

Rockville, April 09, 2024 (GLOBE NEWSWIRE) — As per Fact.MR industry analysis, the aquafaba market is expected to grow at a CAGR of 16.4% between 2024 and 2034, from US$ 41.5 million in 2024 to US$ 189.6 million by the end of 2034.

Rising demand for aquafaba as a vegan and allergen-free egg substitute in the baking and cookery industry is a result of its growing appeal among consumers who prioritize their health. The value of the global aquafaba market is estimated at US$ 41.5 million in 2024 with sales projected to increase at a CAGR of 16.4% through 2034.

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Key Segments of Aquafaba Market Research

By Form  By Application By Packaging By End Use By Region
  • Powder
  • Liquid

 

  • Pancakes
  • Waffles
  • Mayonnaise
  • Meringues
  • Cookies
  • Brownies
  • Dressings
  • Cocktails

 

  • Bottles
  • Jars
  • Pouches

 

  • Bakery & Confectionery
  • Household Consumption
  • HoReCa

 

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Oceania
  • Middle East & Africa (MEA)

 

More consumers are using aquafaba as an ingredient in baked products, desserts, and savory foods that are vegan; chefs and food makers are using aquafaba in their recipes to meet the market’s increasing need for plant-based solutions. To discover new applications and recipes, chefs, food bloggers, and home cooks are increasingly using aquafaba, which is driving up demand from the other food segments.  Consumers are finding it easier to obtain aquafaba-based goods through online retailers, specialty food stores, and grocery stores.

The market for aquafaba is being driven by the convergence of plant-based and vegan trends, as well as its potential to be allergen-free, sustainability initiatives, creative cooking methods, and increased accessibility, all of which are promoting its use in a range of food industry segments.

Key Takeaways from Market Study:

  • Sales of aquafaba are expected to reach US$ 41.5 million in 2024.
  • The market is forecasted to climb to US$ 189.6 million by the end of 2034.
  • Aquafaba sales in the United States are poised to reach US$ 6.4 million in 2024.
  • Canada occupies 20% share of the North American market in 2024.
  • Sales of aquafaba in China are forecasted to touch US$ 34.4 million by the end of 2034.
  • The East Asia market is forecasted to expand at a CAGR of 16.6% in the next 10 years.

“The global aquafaba market is projected to expand at a significant pace through 2034 due to its rising demand as a vegan, allergen-free egg substitute. Chefs and consumers are using aquafaba in diverse culinary applications, thus driving product sales,” says a Fact.MR analyst

Aquafaba Acting as Healthy Replacement for Dairy and Eggs

As consumers grow more aware of their health and well-being, they are looking for meals containing healthier and more natural ingredients. Aquafaba is considered a superior alternative to dairy and eggs because it has less fat and cholesterol. The increased demand for plant-based substitutes like aquafaba is indicative of consumers’ growing preference for healthier solutions.

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Report Attribute Details
Value Projection (2034) US$ 189.6 Million
Growth Rate (2024-2034) 16.4% CAGR
No. of pages 170 Pages
No. of Tables 30 Tables
No. of Figures 127 Figures


Enhanced Accessibility and Ease of Use Associated with Liquid Aquafaba

Plant-based eaters and vegans find liquid aquafaba to be a tasty alternative to eggs. It is suitable for people with allergies or food sensitivities because it does not contain common allergens like dairy, nuts, or soy.

A strong source of soluble fiber and potassium, aquafaba adds vital nutrients to food.

Commercial liquid aquafaba is offered in bottles and cans. Customers no longer need to make handmade preparations because liquid aquafaba is readily available and can be easily included into their meals.

More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the aquafaba market for 2018 to 2023 and forecast statistics for 2024 to 2034.

The study divulges the aquafaba market by form (liquid, powder), application (pancakes, waffles, mayonnaise, meringues, cookies, brownies, dressings, cocktails), packaging (bottles, jars, pouches), sales channel (online, supermarkets/hypermarkets, specialty stores), and end use (bakery & confectionery, household consumption, HoReCa), across six major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and MEA).

Checkout More Related Studies Published by Fact.MR Research:

Vegan Beauty Products MarketThe ever-growing popularity of veganism in the beauty & personal care space is one of the chief factors propelling growth of vegan beauty products market.

Vegan Cookies Market: The global vegan cookies market is expected to reach US$ 391.5 million in 2023 and surge ahead at a CAGR of 8.5% to end up at US$ 885.3 million by 2033. 

Vegan Baking Mix Market: A new industry analysis by Fact.MR reveals that the global vegan baking mix market was valued at US$ 960 million in 2022.Worldwide sales of vegan baking mixes are forecasted to increase at a CAGR of 5.3% and reach US$ 1.68 billion by the end of 2033. 

About Us:

Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.

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