Vegan Confectionery Market to Grow with a CAGR of 7.45% through 2028
Rising health awareness and expanding vegan population
are factors driving the Global Vegan Confectionery Market in the forecast
period 2024-2028.
According to TechSci Research report, “Vegan
Confectionery Market – Global Industry Size, Share, Trends, Competition
Forecast & Opportunities, 2028”, the Global Vegan Confectionery Market
stood at USD 1.05 billion in 2022 and is anticipated to grow with a CAGR of 7.45%
in the forecast period, 2024-2028. The Global Vegan Confectionery Market has
been experiencing remarkable growth in recent years, driven by a confluence of
factors that reflect evolving consumer preferences, ethical considerations, and
advancements in food technology. This market encompasses a wide array of
plant-based sweet treats that exclude animal-derived ingredients such as dairy,
gelatin, and honey. One of the major drivers behind the growth of the global
vegan confectionery market is the rise of health and wellness trends. As
consumers become more health-conscious, they are seeking out food options that
align with their dietary goals. Vegan confectionery products, often perceived
as healthier alternatives to traditional treats due to their absence of animal
products and lower saturated fat content, are gaining popularity among those
looking for guilt-free indulgence. Ethical and environmental considerations are
also driving the growth of the vegan confectionery market. Many consumers are
opting for vegan options to support animal welfare and reduce their carbon
footprint. This shift in mindset has led to a surge in demand for confectionery
products that are cruelty-free and environmentally sustainable, prompting
manufacturers to focus on transparent sourcing and production processes. The
expanding vegan population is another significant driver of this market's
growth. As the awareness of the health, ethical, and environmental benefits of
plant-based diets increase, more individuals are adopting vegan lifestyles.
This growing demographic represents a substantial consumer base for vegan
confectionery products. To cater to this market, manufacturers are introducing
innovative and appealing offerings that mimic the taste and texture of
traditional confections. The influence of celebrity endorsements and social
media has also contributed to the global vegan confectionery market's growth.
High-profile individuals, including celebrities and athletes, embracing veganism,
and endorsing vegan products have heightened consumer awareness and acceptance
of these options. Social media platforms have amplified this trend, allowing
for the dissemination of information, product reviews, and recommendations. The
virality of content related to vegan confectionery has boosted consumer
interest and driven demand, particularly among younger demographics engaged in
online communities and trends. In conclusion, the Global Vegan Confectionery
Market is experiencing a transformative growth fueled by health and wellness
trends, ethical and environmental considerations, an expanding vegan
population, advancements in ingredient replication, and the influence of
celebrity endorsements and social media. As consumers seek healthier, more
ethical, and sustainable indulgence options, manufacturers are innovating to
meet these demands. This market's upward trajectory underscores the potential
for lasting impact within the confectionery industry.
Browse over XX market data Figures spread
through XX Pages and an in-depth TOC on "Global Vegan Confectionery Market.”
The Global Vegan Confectionery Market is segmented
into product, distribution channel, regional distribution, and company. Based on product the market is segmented into chocolate,
sugar, flour. The Global Vegan Confectionery Market is witnessing a notable surge
in demand for vegan chocolates. This trend is propelled by shifting consumer
preferences towards plant-based diets, ethical considerations, and increased
awareness of environmental sustainability. Vegan chocolates offer a guilt-free
indulgence that aligns with these factors, appealing to a broader audience
seeking both delectable flavours and ethical choices. As innovation continues
to improve taste and texture, the rising demand for vegan chocolates is
reshaping the landscape of the confectionery market. Based on distribution channel the market
is segmented into online and offline. The Global Vegan
Confectionery Market is experiencing a rising demand through online
distribution channels. This trend is driven by changing consumer behaviours,
increased internet accessibility, and the convenience of online shopping. With
e-commerce on the rise, consumers are finding it easier to access and purchase
vegan confectionery products online, expanding their options beyond physical
stores. This shift reflects a broader digital transformation and is shaping the
way consumers engage with and access vegan confections globally. Based on
region the market is segmented into five regions North America, Europe, Asia
Pacific, Middle East & Africa, and South America.
Major companies operating in Global Vegan
Confectionery Market are:
- Taza Chocolate
- Alter Eco
- Creative Natural Products, Inc.
- Endangered Species Chocolate, LLC
- EQUAL EXCHANGE COOP
- Mondelēz International
- Chocoladefabriken Lindt & Sprüngli
AG
- Dylan's Candy Bar
- Endorfin
- Goodio
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“Expanding vegan population is a significant trend
that is expected to have an impact on growth over the forecasted period. Rising
awareness of health and awareness, advancements in ingredient replication, and availability
of functional and nutrient-enhanced confectionery will positively impact the
Global Vegan Confectionery Market. Due to the wide range of products available
to meet specific needs of, as well as the growing popularity of the online distribution
channel, the market is growing at impressive rate through projected period.,”
said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based management consulting firm.
“Vegan Confectionery Market By Product
(Chocolate, Sugar, Flour), By Distribution Channel (Online, Offline), By
Region, By Competition Forecast & Opportunities, 2018-2028F”, has evaluated
the future growth potential of Global Vegan Confectionery Market and provides
statistics & information on market size, structure, and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Vegan Confectionery Market.
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