South America Plant-based Desserts Market Outlook, 2028

South America, known for its rich biodiversity and culinary traditions, is a region where plant-based desserts have found a special place at the table. While the continent has long been celebrated for its delicious meat-centric dishes, it's also home to a variety of mouthwatering plant-based sweets that showcase the diverse flavors and ingredients found across the continent. South America, renowned for its diverse cultures, breathtaking landscapes, and vibrant cuisine, is experiencing a significant transformation in its culinary landscape. One of the most notable changes is the rise of plant-based desserts, which have captured the hearts and palates of South Americans and the international community alike. The culture of plant-based desserts in South America is a reflection of the region's rich culinary traditions, diverse ingredients, and evolving consumer preferences. South American cuisine has a long history of incorporating plant-based ingredients into its sweet offerings, making it a fertile ground for the development and appreciation of plant-based desserts. South America's indigenous communities have a deep-rooted history of plant-based eating, with staples like corn, quinoa, beans, and various fruits forming the basis of their diets. Indigenous desserts often utilize these ingredients in traditional recipes, many of which are naturally vegan. South America's biodiversity offers an incredible array of plant-based ingredients that are central to its dessert culture. Ingredients like tropical fruits (mango, papaya, passion fruit), tubers (sweet potatoes, yucca), nuts (Brazil nuts, cashews), and unique flavors like lucuma and guava are widely used in plant-based desserts, adding a distinctive regional flavor. South American plant-based desserts often explore sweet and savory combinations, influenced by the region's culinary diversity. For example, in Brazil, plant-based versions of "paçoca," a sweet and salty treat made from ground peanuts and sugar is getting famous. South America has several iconic desserts that have been adapted into plant-based versions. For example, "Tres Leches," a classic cake soaked in three types of milk, now has vegan versions using coconut or almond milk. Similarly, alfajores, delicate cookies filled with dulce de leche, are now available with vegan caramel alternatives. South America's vibrant street food culture includes plant-based dessert options that cater to both locals and tourists. Street vendors often sell traditional sweets like churros and empanadas, and these can now be found with vegan fillings and toppings. Each South American country has its own unique plant-based desserts, reflecting its culinary heritage. For instance, Peruvian cuisine boasts "picarones," sweet potato and squash doughnuts served with a syrup made from chancaca (unrefined sugar), while Colombia offers "cocadas," sweet coconut confections. According to the research report, “South America Plant-based desserts Market Outlook, 2028” published by Bonafide Research, the market is anticipated to add over USD 120 Million market size from 2023 to 2028. There's immense potential for diversifying the range of plant-based desserts offered in South America. Businesses can explore incorporating traditional and exotic ingredients like lucuma, guava, and passion fruit into vegan dessert recipes. Experimenting with different flavor profiles and textures can set brands apart in this growing market. As South Americans increasingly prioritize health and wellness, there's an opportunity to develop plant-based desserts that not only taste delicious but also offer added nutritional benefits. Brands can explore incorporating super-foods, nuts, and seeds to create desserts with enhanced health appeal. The demand for vegan dairy alternatives such as almond milk, coconut milk, and oat milk continues to rise. South American businesses can capitalize on this trend by producing high-quality, locally sourced dairy-free milk for use in plant-based desserts. Additionally, innovating with non-dairy yogurts and creamers can expand product offerings. Opening vegan dessert cafes and bakeries can cater to the growing consumer base seeking plant-based treats. These establishments can serve as hubs for creativity, offering a wide variety of vegan cakes, pastries, cookies, and ice creams. Vegan cafes and bakeries can also engage with local communities and create a sense of community around plant-based living. South American plant-based dessert brands can tap into international markets by exporting their products. As global demand for vegan desserts increases, South America's unique flavors and ingredients can become highly sought-after in other regions, creating export opportunities for businesses. Eco-friendly and sustainable packaging options are gaining traction worldwide. South American plant-based dessert brands can distinguish themselves by using environmentally friendly packaging materials, such as compostable containers and minimalistic, recyclable packaging. With the increasing prevalence of online shopping, setting up an e-commerce platform or partnering with food delivery services can expand the reach of plant-based dessert brands. Offering convenient online ordering and delivery options can cater to a wider customer base.

Based on the countries, Brazil is one of the largest and most dynamic markets in South America. The demand for plant-based products, including desserts, was on the rise due to a growing awareness of health and environmental concerns. Brazilian companies were introducing a wide range of vegan dessert options, from chocolate truffles to dairy-free ice creams. Argentina has a long history of plant-based eating due to cultural factors and vegetarian traditions. As the demand for vegan and vegetarian options increased, Argentine entrepreneurs and chefs were innovating with vegan versions of traditional desserts like alfajores and facturas (pastries). In addition to that, Colombia's plant-based dessert market was also experiencing growth, with vegan cafes and bakeries opening in major cities like Bogota and Medellin. Traditional Colombian sweets were being reimagined with plant-based ingredients. Other country such as Chile was witnessing a surge in plant-based products, driven by health-conscious consumers and a growing vegan community. The plant-based dessert market in Chile was expanding, offering consumers a variety of dairy-free ice creams, vegan cakes, and pastries. Peru, known for its rich culinary heritage, was embracing plant-based desserts that incorporated indigenous ingredients like quinoa, lucuma, and purple corn. Plant-based dessert options were increasingly available in cafes and restaurants catering to tourists and locals alike. Uruguay was seeing a growing interest in plant-based eating, and vegan desserts were becoming more accessible. Local bakeries and cafes were offering vegan versions of traditional Uruguayan sweets. South America is a hotspot for tourism, attracting travelers from around the world. To cater to diverse dietary preferences, restaurants, cafes, and dessert shops are expanding their plant-based dessert offerings. The region has seen a surge in wellness and fitness trends. Plant-based desserts align with these trends, making them attractive to health-conscious consumers. A beloved dessert in Argentina, Chocotorta is a no-bake cake made with layers of chocolate cookies soaked in coffee and layered with a rich mixture of vegan cream cheese and chocolate. Brazil offers these chewy, coconut-based bars made with tapioca pearls, coconut milk, and sweeteners. They are a delightful tropical treat. A vegan twist on the classic Tres Leches cake, this dessert is made with coconut milk, almond milk, and condensed coconut milk, creating a luscious and dairy-free dessert. Lucuma, a South American fruit known for its sweet, maple-like flavor, is used to make vegan ice cream that captures the essence of South American flavors. Hailing from Brazil, this cake roll is filled with vegan guava paste and is a delightful combination of sweet and tangy flavors. The South American plant-based desserts market is flourishing, driven by a combination of health consciousness, environmental awareness, culinary innovation, and cultural traditions. With an abundance of delicious plant-based ingredients and a growing appetite for vegan sweets, South America is poised to become a global hub for delectable and sustainable plant-based desserts. Based on the distribution channel, supermarkets and hypermarkets remained significant distribution channels for plant-based desserts in South America. These large retail outlets offered a wide range of vegan dessert products, making them easily accessible to a broad customer base. The convenience of finding plant-based options alongside conventional products contributed to their popularity. Health food stores and specialty shops that focused on organic, natural, and vegan products are experiencing growth. These stores provided a curated selection of high-quality plant-based dessert brands and ingredients, appealing to health-conscious consumers and vegans seeking specialized options. E-commerce platforms are on the rise as a distribution channel for plant-based desserts in South America. Online retailers offered consumers the convenience of browsing and purchasing a wide variety of vegan dessert products from the comfort of their homes. The growth of e-commerce helped both local and international brands reach a broader audience. Plant-based desserts are gaining prominence on the menus of restaurants, cafes, and dessert shops throughout South America. This included fully vegan establishments and traditional eateries offering vegan dessert options to cater to changing consumer preferences. Food trucks and street vendors specializing in plant-based and vegan desserts are becoming more common in urban areas. These mobile vendors offered creative and convenient plant-based dessert options, particularly in busy urban settings. Some plant-based dessert manufacturers adopted a direct-to-consumer approach, selling their products directly through their websites or dedicated retail locations. This approach allowed manufacturers to maintain greater control over their brand and engage directly with their customer base. South American plant-based dessert brands are exploring export opportunities to reach international markets. This strategy aimed to capitalize on the growing global demand for plant-based products and highlight the region's unique flavors and ingredients. Start-up Scenario: • Vegano y Delicioso (Chile): Vegano y Delicioso is a Chilean startup specializing in vegan and gluten-free desserts. They offer a range of treats, including cakes, cookies, and pastries, made entirely from plant-based ingredients. • Moocho (Argentina): Moocho is an Argentine startup that focuses on plant-based dairy alternatives, including vegan ice cream. They offer a variety of dairy-free ice cream flavors, catering to different dietary preferences. • La Veganería (Peru): La Veganería is a Peruvian company that produces a wide range of vegan products, including desserts like vegan cheesecakes, cookies, and brownies. They have a strong presence in the local vegan food market. • Vida Veg (Colombia): Vida Veg is a Colombian startup that offers a range of plant-based products, including desserts. They are known for their vegan ice creams and have expanded to include other sweet treats. • Soy Loco (Brazil): Soy Loco is a Brazilian startup that specializes in soy-based vegan products, including tofu, soy milk, and desserts like soy-based puddings and custards. • Nonna Giovanna (Uruguay): Nonna Giovanna is an Uruguayan company that produces plant-based ice cream using locally sourced ingredients. They offer a variety of flavors, and their products are dairy-free and made without artificial additives. • Frutobio (Chile): Frutobio is a Chilean startup that focuses on creating healthy and sustainable plant-based products, including dairy-free ice creams made from organic ingredients. Considered in this report • Geography: South America • Historic year: 2017 • Base year: 2022 • Estimated year: 2023 • Forecast year: 2028 Aspects covered in this report • South America Plant-based Desserts with its value and forecast along with its segments • Country-wise Plant-based Desserts market analysis • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation Countries covered in the report • Brazil • Argentina • Colombia

By Product Type • Cakes and Pastries • Custards & Puddings • Others By Distribution Channel • Hypermarkets and Supermarkets • Convenience Stores • 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 Plant-based Desserts 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.