Major vegan confectionary market participants include Allison’s Gourmet, Unreal Brands, Enjoy Life Foods, Wholesome Sweeteners, Go Max Go Foods, No Whey Foods, Moo Free Chocolates, Divine Chocolate, Cleo’s The Lovely Candy Company, Premium Chocolatiers, Free2b, Torie & Howard, Surf Sweets, and Little Secrets.
Selbyville, Delaware, March 05, 2024 (GLOBE NEWSWIRE) —
The vegan confectionary market valuation is predicted to reach USD 3 billion by 2032, as reported in a research study by Global Market Insights Inc.
Escalating demand for sustainable and natural ingredients will accelerate business growth sover 2024–2032. With consumers increasingly prioritizing ethical and eco-friendly choices, new product launches in the vegan confectionery sector cater to this growing preference. As the industry aligns with evolving consumer values, the combination of sustainable ingredients and innovative offerings will significantly contribute to the continued growth of the market.
For instance, in 2023, Werther’s Original broadened its product lineup by introducing Werther’s Original Chocolate Covered Caramels. This delightful addition blends the luscious, buttery flavor of Werther’s caramel with the creamy texture of milk chocolate, offering a delectable combination for consumers to savor.
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The vegan confectionary market from the gifts and special occasions segment will experience remarkable traction till 2032, driven by the rising demand for ethically sourced and plant-based treats during celebrations. As consumers increasingly seek cruelty-free alternatives, the appeal of vegan confectionery for gifting occasions grows. This trend aligns with a broader shift toward conscious consumerism, positioning the gifts and special occasions segment as a key driver in shaping the expanding outlook of the market.
The vegan specialty shop segment could contribute decently to the vegan confectionary market size throughout 2024–2032, due to an increasing demand for ethically sourced and cruelty-free treats. As consumers prioritize plant-based options, these dedicated outlets serve as key hubs, offering a diverse range of vegan confectionery. With a focus on compassionate consumerism, the vegan specialty shop segment will shape the market outlook, reflecting evolving preferences for sustainable and cruelty-free indulgences.
Asia Pacific will demonstrate a notable CAGR during 2024 and 2032, attributed to an increasing awareness of plant-based lifestyles and ethical consumer choices. The region’s diverse population and evolving dietary preferences contribute to the demand for cruelty-free treats. With a surge in vegan-friendly offerings and a growing emphasis on sustainable practices, APAC will emerge as a key contributor to shaping the trajectory of the vegan confectionery industry.
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Major companies operating in the vegan confectionary market include Allison’s Gourmet, Unreal Brands, Enjoy Life Foods, Wholesome Sweeteners, Go Max Go Foods, No Whey Foods, Moo Free Chocolates, Divine Chocolate, Cleo’s The Lovely Candy Company, Premium Chocolatiers, Free2b, Torie & Howard, Surf Sweets, and Little Secrets, among others.
Companies are expanding their vegan confectionary industry footprint through strategic initiatives and consumer-centric approaches. By offering a diverse range of ethically sourced and plant-based treats, they cater to the growing demand for cruelty-free options. Robust marketing campaigns, innovative product development, and a commitment to sustainability contribute to their market share growth. As they navigate evolving consumer preferences, these players solidify their position and contribute to the dynamic growth of the vegan confectionery market.
For instance, in 2023, Culiraw introduced a selection of raw vegan cheesecakes designed for a diverse consumer base, extending beyond plant-based eaters. This vegan brand prioritizes premium whole foods in crafting these cheesecakes, aiming to provide a ‘guilt-free’ dessert option for consumers with various dietary preferences.
Partial chapters of report table of contents (TOC):
Chapter 1 Methodology & Scope
1.1 Industry coverage
1.2 Market scope & definition
1.3 Base estimates & calculations
1.3.1 Data collection
1.4 Forecast parameters
1.5 COVID-19 impact analysis at global level
1.6 Data validation
1.7 Data Sources
1.7.1 Primary
1.7.2 Secondary
1.7.2.1 Paid sources
1.7.2.2 Unpaid sources
Chapter 2 Executive Summary
2.1 Vegan confectionary market 360º synopsis, 2018 – 2032
2.2 Business trends
2.3 Product type trends
2.4 Occasion & usage trends
2.5 Distribution channel trends
2.6 Regional trends
Chapter 3 Vegan confectionary Market Insights
3.1 Industry ecosystem analysis
3.2 Industry impact forces
3.2.1 Growth drivers
3.2.2 Industry pitfalls & challenges
3.3 Growth potential analysis
3.3.1 By product type
3.3.2 By occasion & usage
3.3.3 By distribution channel
3.4 COVID- 19 impact analysis
3.5 Regulatory landscape
3.5.1 U.S.
3.5.2 Europe
3.6 Pricing analysis, 2022
3.7 Reimbursement scenario
3.8 Technology landscape
3.9 Future market trends
3.10 GAP analysis
3.11 Porter’s analysis
3.12 PESTEL analysis
3.13 Impact of Russia Ukraine war
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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