In 2020, the global guilt-free desserts market was valued at USD 909.7 million. This valuation is expected to rise at a rapid pace if the CAGR is measured at 7.3% during the forecast period. Guilt-free desserts refer to a variety of desserts that are made from natural ingredients and consist of low calories. Plant-based ingredients are mostly used in guilt-free desserts. These desserts have become prevalent nowadays due to the increase in the concern for health issues that are caused by consuming foods. The guilt-free desserts market growth is expected to rise rapidly because of the rise in the trend for a flexitarian diet that includes vegan and vegetarian foods. Most of the desserts that people love to eat are made up of trans-fats, excessive sugar, and refined carbohydrate. Intake of such elements causes body fat and diabetes. Diabetes is one of the most common health concerns among Americans. This has caused the market for guilt-free desserts to rise.
Due to the rise in the demand for dairy alternatives, there can be a huge growth in the guilt-free desserts market. However, the key players of the market are constantly trying to implement new strategies to enhance the quality of the food which in turn will increase the guilt-free desserts market growth.
COVID-19 Analysis
The outbreak of the COVID-19 pandemic has affected all the markets immensely. The governments of various countries imposed lockdowns which made many industries stop their work. The supply chain has been disrupted badly due to an insufficient supply of raw materials. Due to this reason, the guilt-free desserts industry has also been affected tremendously in a negative way. The manufacturers of guilt-free desserts invest a lot of money when they try to procure the ingredients. A low production capacity is the only factor that is restricting the purchase of the materials at a good price. The demand for guilt-free desserts is increasing among the people due to the various health benefits it provides. However, it is expected that the market for guilt-free desserts will witness a high growth post the COVID-19 pandemic.
There has been a sudden increase in awareness regarding the consumption of healthy foods and creating a healthy diet among the consumers. This has been a major factor which is responsible for driving the guilt-free desserts market. Another major driving force of the market is the increase in the emergence of many food-based eCommerce platforms. The enhancement of the retail sectors in different developing countries can also drive guilt-free desserts market growth during the forecast period.
The shift in the taste of the consumer preference towards nutritious and healthy foods is a major growth opportunity for the guilt-free market. Pastries and cakes are the most common types of dessert that are mostly eaten by people. Hence, this segment will remain dominant during the forecast period which in turn is a great opportunity for the guilt-free desserts market.
People prefer guilt-free desserts which will not only be healthy but also tasty. But getting two qualities in one dessert will lead to an increase in the price of the product. This high price range of such desserts makes the customers avoid these foods in spite of their various health benefits.
Due to COVID-19, the manufacturers were unable to make new products as they did not receive sufficient raw materials. The price of the raw materials has also increased which in turn has increased the price of the finished product. Hence, the manufacturers started producing fewer finished products. On the other hand, the demand for guilt-free desserts is also increasing among the customers. This disruption in the demand and supply chain has been a major challenge for the market.
There is a huge increase in the demand for sugar-free and low-calorie desserts among most people. This is the main factor which is responsible for inducing the growth of the market. The key manufacturers of the food industry are constantly going through rapid developments that can help the industry to drive the market for guilt-free desserts to grow. However, the guilt-free market is expected to witness rapid growth and reach a high valuation if the CAGR is measured at 7.3% during the forecast period.
Value Chain Analysis
Recently there has been a rise in the concern for a healthy and flexitarian diet among most people. The COVID-19 pandemic has increased the demand for such foods which created an opportunity for such markets to grow. The manufacturers are also trying to develop various types of dishes from plant-based products such as guilt-free chocolate cake, ice creams, etc to attract the customers towards their product which will increase the value of such markets. The vegan desserts are now overcoming the negative perceptions of the people regarding the taste and texture. These foods have got certain health benefits and a huge level of nutritional value which is extremely important for people.
The guilt-free desserts market size is segmented into two main categories which include distribution channel and product type. Here are the major segments of the market along with their sub-segments.
Regional Analysis
Based on guilt-free desserts market analysis, the market for guilt-free desserts has been segmented into five major regions which include North America, Europe, Latin America, Asia Pacific, and the Middle East and Africa. Among these regions, Europe is expected to hold the largest guilt-free desserts market share because it has a strong dominance over the bakery and confectionary industry. Countries like Germany and UK are responsible for dominating the market in that region for their presence of the key market players. The Europeans are quite aware of their health and hence opt for foods that can benefit their health. This is a major factor for driving the guilt-free dessert market in that region.
North America is another region which is expected to be in the second position in the guilt-free desserts market share. The Americans have shifted their preference towards flexitarian foods. This growth in the trend of vegan and vegetarian foods has led to a rise in the market for guilt-free desserts in that region.
The key players of the guilt-free desserts market are constantly trying to develop new products in order to attract customers. They are trying to enhance the quality of the desserts and trying to make them equivalent to the foods that are animal-based for the customers to switch from non-vegetarian foods to vegetarian. The companies are competing against each other to launch the best guilt-free desserts which will not only satisfy the taste preference of the customers but also will be available at an affordable cost.
Recent Developments
There are no recent developments.
Report Overview
The global guilt-free desserts market report outlines a brief overview of the market along with the impact of COVID-19 on the market. The report also describes the various factors that are affecting the market which include drivers, opportunities, challenges, and restraints. The recent guilt-free desserts market trend is also discussed in this report along with a basic competitive analysis of the market. This research report also covers the segmentation of the market based on its size and region. Based on the forecast period which is 2028, the valuation and the CAGR of the guilt-free dessert market are evaluated.
Report Detail
By Geographically,
| Report Attribute/Metric | Details |
|---|---|
| Market Size | USD 909.7 million |
| CAGR | 7.3% |
| Base Year | 2020 |
| Forecast Period | 2028 |
| Historical Data | 2018 |
| Forecast Units | Value (USD Million) |
| Report Coverage | Type, Application, Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product Type, Distribution Channel, Food Services |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Vendors | Unilever Bliss Unlimited, LLC Danone S.A. Cado Daiya Foods Inc. Ben & Jerry's Homemade, Inc. Alternative Foods Grupo Bimbo Karma Baker HP Hood (Planet Oat) |
| Key Market Opportunities | Increasing consumer awareness towards healthy and nutritious food |
| Key Market Drivers | The advent of food-based e-commerce platforms |
Frequently Asked Questions (FAQ) :
The major driving factor of the market is the increase in the concern for health issues among many people. People are shifting their preference from non-vegetarian foods to healthy and nutritious foods. Also, the rise in the food-start-ups in developing countries has led to a certain increase in the market for guilt-free desserts. The growth in the emergence of eCommerce platforms also acts as a major driver of the market.
Europe among all the five regions is expected to hold the largest guilt-free desserts market share because it has a very strong dominance of the confectionary and bakery industry. Also, the emergence of plant-based food options among people is expected to lead the region towards growth. Countries like Germany and UK are the top countries in that region which can boost the market growth.
Pastries and cakes are the most common dessert options that are chosen by the people. Hence, vegan pastries and cakes will give the customers a different level of taste. However, due to the increase in demand for organic cakes and pastries, there is an increase in its dominance.
Assistant Manager - Research High acumen in analyzing complex macro & micro markets with more than 6 years of work experience in the field of market research. by implementing her analytical skills in forecasting and estimation into market research reports, she has expertise in packaging, construction, and equipment domains. she handles a team size of 20-25 resources and ensures smooth running of the projects, associated marketing activities, and client servicing.
Get in Touch
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)
