In 2022, the global market size of vegan confectionery reached USD 1.34 Billion, and it is projected to experience a rapid revenue growth at a compound annual growth rate (CAGR) of 11.7% during the forecast period. The primary driving force behind this growth is the increasing awareness of health-conscious individuals who are opting for healthier alternatives to animal-based food products. Vegan confectionery encompasses a wide range of treats such as sweets, chocolates, bakery items, candies, desserts, and pastries that are created using vegan ingredients. The demand for vegan confectionery is on the rise due to a growing understanding of veganism and the environmental and health benefits associated with a plant-based diet. Moreover, consumers are actively seeking confectionery products that are low in calories, sugar-free, and made with natural ingredients, reflecting their heightened consciousness towards personal health.
Vegan candies are often considered a more wholesome substitute for conventional candies. These products made with vegan confectionery ingredients are commonly free from allergens such as dairy, eggs, and nuts. The demand for allergen-free products is increasing in tandem with the prevalence of food allergies and intolerances.
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Top Profiled Companies in the Global Vegan Confectionery Market Report:
Taza Chocolate, Alter Eco, Endorfin Foods, Takasago International Corporation, Goodio, Chocoladefabriken Lindt & Sprüngli AG, Mondelēz International, EQUAL EXCHANGE COOP, Endangered Species Chocolate, LLC., and VeganFirst.
The global consumer goods market revenue growth is primarily attributed to factors such as the rapid increase in global population, an increasing demand for food and other essential consumer goods such as healthcare & nutrition, personal care & hygiene, and electronic products, and the changing lifestyles and preferences of consumers, the growing demand for packaged and processed products in food and beverage, and the growing working population. Manufacturing and packaging techniques have advanced technologically, as well as the adoption of cutting-edge technologies such as artificial intelligence, the Internet of Things (IoT), big data analytics, robotics, and automation in the consumer goods industry. Other key factors driving global consumer goods market revenues include increasing awareness of the negative environmental effects of plastic packaging, as well as a growing demand for environmentally friendly and sustainable packaging solutions. Consumer income levels are expected to rise in developing economies such as India thanks to government regulations and guidelines regarding product quality and safety.
Key Regional Markets Covered in the Report:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)
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Further market segmentation
Product Type Outlook:
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- Chocolate
- Flour
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- Sugar
- Chewing Gum
- Sugar Candies
- Candied Fruits and Nuts
- Ice-Cream
Distribution Channel Outlook:
- Online
- Offline
- Others
Key Takeaways of the Global Vegan Confectionery Market Report:
- A comprehensive overview of the global Vegan Confectionery industry.
- Accurate market projections in terms of market size, share, and volume.
- Thorough study of the global market dynamics, such as major market revenue growth drivers, opportunities, threats, challenges, restraints, and future growth avenues.
- Deep-dive analysis of the upcoming market trends.
- Qualitative and quantitative analyses of the global Vegan Confectionery market.
- Elaborate study of the leading regional markets in the global Vegan Confectionery market.
- Complete overview of the market’s competitive landscape.
- Brief look at the company profiles and portfolios.
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