Vegan Marshmallows Market Size-Share with Top Companies, Regional Growth Rate, Trends Future Opportunities and Global Industry Analysis Forecast to 2028

The vegan food industry has witnessed spectacular gains in the past few years, owing to increasing realization amongst consumers about the perceived ill-effects on human health as a result of excessive animal based food products. The popularity of plant-based confectionery is an interesting trend in this regard. Bouyed by these factors, Future Market Insights (FMI), in its recently published study, opines that global vegan marshmallows market will grow at over 8% through 2028.

The Vegan Society estimates that demand for plant-based meat alternatives surged by nearly 1000% across the U.K in 2017, while 62% of the population purchased plant-based milk in 2020. Such trends are generating credible expansion possibilities for prominent vegan marshmallow manufacturers.

The surging demand is also attributed to increasing preference for clean label and GMO free foodstuffs. High preference for halal and kosher food items is prompting confectionery giants to offer vegan alternatives.

Key Takeaways

Global vegan marshmallows market to exhibit value CAGR exceeding 8% through 2028
Premium vegan marshmallows to generate over half of the revenue share by 2020-end

Vanilla and peppermint top-selling flavors
Health & wellness stores to register remarkable growth, expanding at a staggering 10.4% CAGR across the forecast period

North America to remain the dominant vegan marshmallows market, surpassing US$ 100 Mn by 2020-end

"Increasing demand for clean-label certifications, including halal and kosher, across prominent regions is motivating vegan food manufacturers to introduce plant-based marshmallows with unique flavor combinations, positively driving market growth," says the FMI analyst.

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COVID-19 Impact Analysis

The novel coronavirus pandemic has ushered in a sea change in consumers' dietary preferences, with sales of plant-based and vegan foodstuffs spiking across all continents. Growing apprehensions about possible infection contraction through zoonotic channels have compelled consumers to abandon meat consumption and choosing safer alternatives.

This precautionary behavior has also penetrated the marshmallows market, with prominent manufacturers augmenting production of different flavored vegan marshmallows. According to a Veganuary survey, 32% of participants revealed that they were consuming more vegan foods across the UK, US, Latin America and Germany since the pandemic's outbreak.

Hence, the prospects for vegan marshmallows has been broadening since the past several months. The market is expected to further aggrandize in the upcoming forecast period, with consumers expected to rely largely on clean-label and naturally derived foods way after the pandemic has subsided.

Competitive Landscape

The global vegan marshmallows market is characterized by the presence of various prominent vegan product manufacturers who are effectively leveraging the prevailing clean-label products consumption trends to flood regional markets with innovative flavor combinations.

Some leading players profiled in FMI's vegan marshmallows market research report include Freedom Confectionery, Chicago Vegan Foods, Mr. Mallo Group, The Naked Marshmallow Co., Ananda Foods Ltd. & The Marshmallowist among others.

For Information On The Research Approach Used In The Report, Ask Analyst @
https://www.futuremarketinsights.com/ask-question/rep-gb-12894

More Insights on FMI's Vegan Marshmallows Report

Ingredient

Vanilla
Pumpkin
Peppermint
Chocolate
Others

Distribution Channel

Hypermarkets/Supermarkets
Convenience Store
Drug Stores & Pharmacies
Health & Wellness Stores
Online Retailing
Other Retailers

Pricing

Economic
Premium

Region

North America (U.S & Canada)
Latin America (Brazil, Mexico, Argentina & Rest of Latin America)
Europe (EU-4, U.K, BENELUX, Russia, Poland & Rest of Europe)
APEJ (China, India, ASEAN, Australia & New Zealand, South Korea & Rest of APEJ)
Japan
Middle East & Africa (GCC, South Africa & Rest of MEA)

Frequently Asked Questions

How will the global vegan marshmallows market expand until 2028?
Which is the largest market for vegan marshmallows?
How is COVID-19 impacting the vegan marshmallows market growth?
Which are the prominent players operating in the market?

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About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

This release was published on openPR.