What is Global Plant-Based Vegan Confectionery Market?
The Global Plant-Based Vegan Confectionery Market is an intriguing and rapidly evolving sector of the food industry. It encompasses a variety of sweet treats that are made entirely from plant-based ingredients, eliminating the use of any animal-derived products. This means that traditional confectionery ingredients such as milk, eggs, and gelatin are replaced with plant-based alternatives. The market includes a wide range of products, from chocolates and candies to gums and other sweet snacks, all designed to cater to the growing consumer demand for vegan, cruelty-free, and more sustainable food options. The rise in veganism and flexitarian diets, coupled with increasing consumer awareness about animal welfare and environmental issues, is driving the growth of this market. However, it's not just vegans who are fuelling this demand. Non-vegans seeking healthier, plant-based alternatives to traditional confections are also contributing to the market's expansion.
Gum, Chewable Candy, Chocolate, Others in the Global Plant-Based Vegan Confectionery Market:
The Global Plant-Based Vegan Confectionery Market is segmented into various categories based on the type of product. These include gums, chewable candies, chocolates, and others. Each of these segments has its unique characteristics and market dynamics. Gums, for instance, are a popular choice among consumers seeking a quick, on-the-go vegan snack. They are typically made from plant-based ingredients like natural gums, sweeteners, and flavorings. Chewable candies, on the other hand, are a favorite among children and adults alike. They are often made from fruit juices, natural sweeteners, and plant-based colorings. Chocolates are perhaps the most popular segment in the vegan confectionery market. Vegan chocolates are made by replacing milk with plant-based alternatives like almond milk, coconut milk, or soy milk. The 'others' category includes a variety of other vegan confections like marshmallows, jellies, and hard candies. Each of these segments has its unique consumer base and market dynamics, contributing to the overall growth of the Global Plant-Based Vegan Confectionery Market.
Online Sales, Supermarket, Convenient Store, Others in the Global Plant-Based Vegan Confectionery Market:
The Global Plant-Based Vegan Confectionery Market finds its application in various areas such as online sales, supermarkets, convenient stores, and others. Online sales have seen a significant boost in recent years, thanks to the convenience and variety it offers. Consumers can browse through a wide range of vegan confectionery products from the comfort of their homes and have them delivered to their doorstep. Supermarkets and convenient stores, on the other hand, offer the advantage of physical inspection of products. They also cater to impulse buying behavior, which is common in the confectionery market. The 'others' category includes various other points of sale like health stores, vegan specialty stores, and direct sales from manufacturers. Each of these sales channels has its unique advantages and challenges, and understanding these can help businesses in this market strategize their sales and distribution efforts more effectively.
Global Plant-Based Vegan Confectionery Market Outlook:
A new survey has shed light on the future trajectory of the Global Plant-Based Vegan Confectionery Market. The market, which was valued at US$ 3642 million in 2022, is expected to grow at a steady pace over the next few years. By 2029, it is projected to reach a value of US$ 5059.6 million. This represents a Compound Annual Growth Rate (CAGR) of 4.8% during the period from 2023 to 2029. This growth can be attributed to a variety of factors. The increasing consumer awareness about the environmental and health benefits of plant-based diets is one of the key drivers. Additionally, the rise in veganism and flexitarian diets, coupled with the growing availability of vegan confectionery products, is also contributing to the market's growth. However, it's important to note that these projections are based on current market trends and conditions, and actual market performance may vary.
| Report Metric | Details |
| Report Name | Plant-Based Vegan Confectionery Market |
| Accounted market size in 2022 | US$ 3642 million |
| Forecasted market size in 2029 | US$ 5059.6 million |
| CAGR | 4.8% |
| Base Year | 2022 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
|
| Segment by Application |
|
| Consumption by Region |
|
| By Company | Nestlé, Cargill, Royal Avebe, NETZSCH Group, The Unilever Group, Alpro, Earth's Own, OCHO Candy, Amanda's Own Confections, Atkinson Candy Company, Chicago Vegan Foods, Cocomels, Enjoy Life Foods, free2b, Go Max Go Foods, Hammond's Candies, Natural Candy Store, Sjaak's Organic Chocolates, Strawberry Hill, SunRidge Farms, Surf Sweets, Sweet Organics, Theo Chocolate, Torie & Howard, Tree Hugger Gum, TruColor, Unreal Brands, VerMints, Yummy Earth |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
