Global Vegan Confectionery Market

Vegan Confectionery Market Size, Share, Growth Analysis, By Product(Chocolate, Sugar), By Distribution Channel(Online, and Offline) - Industry Forecast 2024-2031


Report ID: SQMIG30I2319 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 62 | Figures: 80

Vegan Confectionery Market Insights

Global Vegan Confectionery Market size was valued at USD 1.23 billion in 2022 and is poised to grow from USD 1.35 billion in 2023 to USD 2.88 billion by 2031, growing at a CAGR of 9.9% in the forecast period (2024-2031).

The global vegan confectionery market is experiencing significant growth, propelled by a convergence of factors including concerns about animal welfare, personal health, and environmental sustainability. As consumers worldwide increasingly adopt plant-based lifestyles, the demand for vegan food products has surged, prompting both small-scale entrepreneurs and major food corporations to enter the market.

According to research conducted by The Vegan Society in 2022, a substantial portion of U.K. citizens, approximately 38.5%, have reduced their consumption of animal products primarily for health reasons. Moreover, 23% of respondents reported decreasing their animal product intake since the onset of the Covid-19 pandemic, indicating a growing shift towards plant-based alternatives.

The vegan confectionery industry has witnessed a remarkable rise in new product launches, particularly in Europe, where vegan chocolate confectionery products experienced an impressive 83% growth from 2017 to 2022. This surge in product offerings aligns with the growing consumer demand for dairy-free and plant-based treats, driven not only by health considerations but also by an increased awareness of lactose intolerance. 

Large retailers such as Walmart are recognizing the potential of the plant-based food market and are keen to expand their offerings to include more vegan products. Additionally, the rising prevalence of lactose intolerance worldwide has further fueled the demand for dairy-free confections, creating lucrative opportunities for manufacturers in the vegan confectionery sector. Developed countries like the U.K., the U.S., Australia, New Zealand, Germany, Italy, France, and Canada are witnessing a surge in veganism, presenting ample growth prospects for market players. Moreover, even in regions like the Middle East, countries such as Israel and Saudi Arabia are experiencing a rise in the vegan population, opening up new avenues for expansion.

In Europe, increasing health consciousness and a growing vegan demographic have contributed to the growth of the vegan confectionery market. Countries like Germany, Italy, and France, with their robust confectionery consumption, present opportunities for manufacturers to supply on-the-go vegan candies in convenient packaged formats. These nations are also spearheading initiatives to enhance the quality and standards of food products by incorporating vegan ingredients, further stimulating market growth. Overall, the global vegan confectionery market is poised for continued expansion as consumers increasingly prioritize ethical, sustainable, and health-conscious food choices. 

Market snapshot - 2024-2031

Global Market Size

USD 1.23 billion

Largest Segment

Offline

Fastest Growth

Online

Growth Rate

9.9% CAGR

Global Vegan Confectionery Market ($ Bn)
Country Share for North America Region (%)
Global Vegan Confectionery Market By Distribution Channels ($ Bn)
Global Vegan Confectionery Market By Distribution Channels (%)

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Vegan Confectionery Market Segmental Analysis

The Chocolate, Sugar, Flour categories exist in the product segment of the market. When talking about the distribution channels, the market is divided into Online and Offline. One can split the market regionally into North America, Asia Pacific, Middle East and Africa, Europe, and Latin America.

Analysis By Product

The leading product segment in the vegan confectionery market are sugar, wheat, and chocolate. Their top position is a result of multiple factors. These reasons include the demand for plant-based alternatives growing across consumers. This is in response to the global population shifting to vegan diets which are ethically and morally right. This segment is also witnessing a higher desire for dairy and gluten-free products. In response to this shift manufacturers are including vegan chocolate bars, truffles, and other candies, to meet the diversifying demand.

However, the market is witnessing a steady rise in the demand for flour-based treats like pastries, cakes, and cookies. This has led to the flour segment’s rapid growth, making it the quickest to grow so greatly. Plant-based elements like substitute flours are now high in demand as the population goes vegan. Additionally, concerns about the environment and certain allergies have driven the change in diets, with people switching to organic products, driving market growth. Confectioners are putting out innovative and delicious vegan options to embrace the change and promote growth in the market.

Analysis By Distribution Channel

The offline channel has taken over the market for vegan confectionery. The offline channel encompasses physically present outlets like convenience stores, specialty food stores, supermarkets, and health food stores. This channel has kept its position in the market due to a number of reasons. Potential buyers can browse and purchase items from physical stores after consulting knowledgeable employees, getting to choose from a wide selection.

However, with time, these market shares must change too. The online distribution channel is growing rapidly in the market due to a number of reasons. These factors include a major influx of e-commerce platforms and the rising population that finds it preferable to procure their treats online. Consumers find the online channel appealing as they can purchase their confectionery goods without even having to leave the comfort of their homes. The ability to shop anywhere and anytime, coupled with additional offers and detailed product reviews to help consumer choice has fueled the rapid expansion of this segment. Vegan confectionery has been made more conveniently available, thanks to businesses switching to serving buyers directly through their own websites and subscription boxes.

Global Vegan Confectionery Market By Distribution Channels, 2023 (%)

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Vegan Confectionery Market Regional Insights

The highest demand for vegan confectionery comes from North America, making it the largest region for market growth. There are a number of reasons why North America holds this position. One of these factors is a higher populace which has diverted to vegan diets due to the growing awareness of its benefits on the environment and human health. Other factors include the changing preferences towards plant-based products, supported by North America’s renowned health food and specialty sector. The US has greatly fueled the region’s dominance. The country owes this contribution to a majority of its population who have adopted vegan or vegetarian diets.

Though North America currently leads the market, the Asia-Pacific region is climbing the ladder quickly. A number of reasons can be credited for the APAC region’s rapid growth. These factors include diversifying consumer tastes and preferences, the rising level of awareness about this market’s ethical and health benefits, and an increasing population moving to urban areas. The vegan confectionery market grows further in the region due to nations like Japan, India, and China changing their preference to plant-based products. Another reason for these countries greatly contributing to the APAC region’s growth is their wide vegetarian population who favor sustainable items.

Global Vegan Confectionery Market By Region, 2024-2031
  • Largest
  • Fastest

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Vegan Confectionery Market Dynamics

Drivers

Innovation in Ingredients and Flavors:

  • The flavors and ingredients that have prevailed in the confectionery market up till now have changed drastically thanks to developments in food science. Confectioners are making huge R&D investments to add new flavors to their vegan treats while maintaining the same textural integrity of conventional sweets. Manufacturers are using inventive organic products like seeds, nuts, fruits, and more to develop a more expansive product range. These innovations and diverse methods are targeted to cater vegan and non-vegan consumers with new flavors and experiences, to broaden their consumer base.

Increasing Demand for Plant-Based and Vegan Products:

  • The need for sustainability has driven many markets – why should the vegan confectionery market be any different? The shift towards ethical consumption and consumers adopting plant-based diets is a direct result of this trend. These changes have driven the demand of this market. As more of the global population accepts the impact of their food choices and evolves in the face of it, vegan options, including in confectionery, will continue to climb in the market. In response to this, confectioners are focusing on producing vegan alternatives of their popular products and introducing plant-based milk alternatives, chocolates that don’t use dairy, and natural sweeteners into the market.

Restraints

Higher Production Costs:

  • The cost of mimicking the taste and feel of traditional sweets can be quite expensive. Ingredients that are obtained from plants and other organic sources are more costly, driving the manufacturing cost up. The high expenses incurred in the procurement of plant-based milk substitutes of superior quality, premium nuts, and specialized natural sweeteners can drive the cost of production up. Confectioners with limited resources or tight budgets may be prohibited from entering the market due to these financial challenges. Competitive areas may see lower adoption rates due to higher prices. Though this can pose a serious problem, some consumers might find paying extra for ethical and sustainable products to be worth it.

Challenges in Replicating Texture and Taste:

  • Trying to replicate the texture and flavor of traditional sweets without the use of dairy and gelatin can be problematic for vegan confectioners. Consumers can be quite picky, and any fall in the standards of flavor, chewiness, or creaminess can inhibit them from buying these vegan options. Large investments must be made by producers in research and development to ensure their vegan alternatives can match, or outdo, conventional sweets.

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Vegan Confectionery Market Competitive Landscape

The world is moving towards the consumption of dairy and cruelty-free products The vegan confectionery market’s participants are engaged in constant competition to meet this demand and gain a market share in the process. The key players in the market are targeting product innovation to improve its quality and diversify its variety with the use of sustainable techniques to ensure market growth.

Adding vegan substitutes to their product repertoire, market leaders are expanding their range of products, creating organic versions of candies, chocolates, and gummies. The market has seen an influx of existing confectionery firms adding plant-based options and new entrants who are specializing in vegan confectionery. This is heating up the competition in the already packed market. In order to appeal to ethically ambitious consumers, businesses are marketing their green efforts and selling organic products.

The distribution and sales of the vegan confectionery market have experienced a surge, thanks to an influx o f e-commerce platforms and the rise of social media. The market continues to flourish as a result of rigorous R&D targeting enhancement in product texture, nutritional value, and flavor. Additionally, to appeal to a more ecologically conscious consumer base, businesses have concentrated on using innovative marketing methods to blow the horn on their efforts to go green. Furthermore, market growth has been boosted as these players partner up with vegan influencers and use ethical ingredient sourcing.

As the market grows, competition will only get more intense, but this is a win for consumers since new innovations and technological advancements will help the market evolve.

Top Player’s Company Profile

  • Unreal Candy (USA)
  • Loving Earth (Australia)
  • Vantastic Foods (Germany)
  • Confeitaria Darte (Brazil)
  • Free From Fellows (UK)
  • NuGo Nutrition (USA)
  • iChoc (Germany)
  • Tofurky (USA) - Offers vegan confectionery as well
  • Bonvita (Netherlands)
  • The Vego Chocolate Company (Germany)
  • Pana Chocolate (Australia)
  • Cocomelody (USA)
  • Zimt Chocolates (Canada)
  • Naturally Sweet (Australia)
  • YumEarth (USA)
  • Wholesome Sweeteners (USA)
  • Sjaak's Organic Chocolates (USA)
  • Plamil Foods (UK)
  • Swoffle (USA)
  • No Whey Foods (USA)
  • Truffle Pig Chocolates (Canada)
  • Goupie (UK)

Recent Developments

  • Plant Craft, a new line of vegan chocolates, was released by Barry Callebaut in January 2023. Barry Callebaut is the world's leading manufacturer of high-quality chocolate and cocoa products, committed to creating 100% sustainable chocolate by 2025.
  • Mondelez International reported it is going to release a new vegan variant of one of its most famous products, the Oreo cookie, in February 2023. Mondelez International is one of the world's largest snacks companies, and it aims to gain a share in the vegan confectionery market with this new product.
  • Nestlé is the world’s largest food and beverage company which has made its name in the confectionery industry as well. The global company released a vegan variant of one of its most popular items, the KitKat bar, in March 2023, aiming to create a foothold in the vegan confectionery market.
  • The Good Food Institute released a report on the global confectionery market in April 2023. According to the report, as of 2022, the market was valued at $1.2 billion. For your reference, the Good Food Institute is an NPO that promotes cell and plant-based options to animal ingredients.

Vegan Confectionery Key Market Trends

  • Rise in Veganism and Plant-Based Diets: The global population is gradually moving to adopting plant-based diets due to the ongoing trend of veganism. Thus the vegan confectionery market has seen a surge in demand. This change in consumer preferences is a result of their awareness of the impact of their food choices on the health of the environment and themselves. The people are choosing vegan variants of traditional sweets as they understand the importance of animal welfare. In response to this trend, manufacturers have diverted to creating plant-based alternatives to their most popular treats like gummies, marshmallows, and chocolate. They use ingredients which are free of animal cruelty, dairy, and gluten to support consumer demand. Confectioners have brought in new recipes that can be suited to non-vegans and vegans. These products are manufactured using ethical practices, and are made with the emphasis on no alteration to taste or sensory feel.
  • Focus on Healthier Ingredients and Clean Labels: The ongoing trend of sustainability has sowed a global awareness of the importance of the usage of healthier and more eco-friendly materials. This trend has also affected the vegan confectionery market. As the knowledge of the ingredients used and their negative impact on the environment is learned by consumers, they are changing their health and diet choices. In response to this, vegan candy producers are striving to use naturally organic components in their processes. These ingredients are made without using artificial colors, preservatives and flavors. Additionally, the nutritional value of vegan products can be improved with other materials like plant-based fibers, superfoods, and proteins. This in turn drives the demand of the vegan confectionery market.

Vegan Confectionery Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Component types team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.

According to our global vegan confectionery market analysis, the demand for goods that are both cruelty-free and plant-based is growing significantly. In order to appeal to the growing vegan and vegetarian population as well as those looking for healthier and more ethical options, this market segment focuses on creating confectionary products without using any ingredients originating from animals, such as dairy, gelatin, or honey. Numerous factors, such as growing health consciousness, worries about environmental sustainability, and ethical issues, are driving the demand for vegan confectionery. Traditional confectionery can greatly impact consumer health and the environment. The growing awareness of this fact has altered the mindsets of consumers who are now seeking food options that go hand in hand with their new morality.

The vegan confectionery market has also grown due to its healthy product range, exciting new flavors, and sustainable packaging. Confectioners have also boosted market demand by producing vegan options of gummies, biscuits, candies, and chocolates. As a result of more traditional confectioners entering the market with plant-based alternatives and new players that specialize in vegan confectionery have surged the competition, driving market innovation and growth.

Though the market has flourished recently, some challenges pose a threat to this steady growth. One of them is the complex process of abandoning the use of dairy and gelatin without compromising the texture and flavor conventional treats provide. However, the market has even adapted to this problem. Developments in food science have resulted in new production methods for creating plant-based variants. This continuous innovation, coupled with new channels of distribution and marketing campaigns that target the green efforts of vegan confectioners cropping up, the market has steadily expanded. As plant-based diets continue to garner popularity, the vegan confectionery market has transformed the global confectionery market.

Report Metric Details
Market size value in 2023 USD 1.23 billion
Market size value in 2031 USD 2.88 billion
Growth Rate 9.9%
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Product
    • Chocolate, Sugar, and Flour
  • Distribution Channel
    • Online, and Offline
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Unreal Candy (USA)
  • Loving Earth (Australia)
  • Vantastic Foods (Germany)
  • Confeitaria Darte (Brazil)
  • Free From Fellows (UK)
  • NuGo Nutrition (USA)
  • iChoc (Germany)
  • Tofurky (USA) - Offers vegan confectionery as well
  • Bonvita (Netherlands)
  • The Vego Chocolate Company (Germany)
  • Pana Chocolate (Australia)
  • Cocomelody (USA)
  • Zimt Chocolates (Canada)
  • Naturally Sweet (Australia)
  • YumEarth (USA)
  • Wholesome Sweeteners (USA)
  • Sjaak's Organic Chocolates (USA)
  • Plamil Foods (UK)
  • Swoffle (USA)
  • No Whey Foods (USA)
  • Truffle Pig Chocolates (Canada)
  • Goupie (UK)
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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Vegan Confectionery Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Vegan Confectionery Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Vegan Confectionery Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Vegan Confectionery Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Vegan Confectionery Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Vegan Confectionery Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Vegan Confectionery Market size was valued at USD 1.23 billion in 2022 and is poised to grow from USD 1.35 billion in 2023 to USD 2.88 billion by 2031, growing at a CAGR of 9.9% in the forecast period (2024-2031).

The world is moving towards the consumption of dairy and cruelty-free products The vegan confectionery market’s participants are engaged in constant competition to meet this demand and gain a market share in the process. The key players in the market are targeting product innovation to improve its quality and diversify its variety with the use of sustainable techniques to ensure market growth. 'Unreal Candy (USA)', 'Veganz (Germany)', 'Loving Earth (Australia)', 'Go Max Go Foods (USA)', 'Moo Free Chocolates (UK)', 'Vantastic Foods (Germany)', 'Confeitaria Darte (Brazil)', 'Free From Fellows (UK)', 'NuGo Nutrition (USA)', 'iChoc (Germany)', 'Tofurky (USA) - Offers vegan confectionery as well', 'Bonvita (Netherlands)', 'The Vego Chocolate Company (Germany)', 'Pana Chocolate (Australia)', 'Cocomelody (USA)', 'Zimt Chocolates (Canada)', 'Naturally Sweet (Australia)', 'YumEarth (USA)', 'Wholesome Sweeteners (USA)', 'Sjaak's Organic Chocolates (USA)', 'Plamil Foods (UK)', 'Swoffle (USA)', 'No Whey Foods (USA)', 'Truffle Pig Chocolates (Canada)', 'Goupie (UK)'

The flavors and ingredients that have prevailed in the confectionery market up till now have changed drastically thanks to developments in food science. Confectioners are making huge R&D investments to add new flavors to their vegan treats while maintaining the same textural integrity of conventional sweets. Manufacturers are using inventive organic products like seeds, nuts, fruits, and more to develop a more expansive product range. These innovations and diverse methods are targeted to cater vegan and non-vegan consumers with new flavors and experiences, to broaden their consumer base.

Rise in Veganism and Plant-Based Diets: The population is gradually moving to adopting plant-based diets due to the ongoing trend of veganism. Thus the vegan confectionery market has seen a surge in demand. This change in consumer preferences is a result of their awareness of the impact of their food choices on the health of the environment and themselves. The people are choosing vegan variants of traditional sweets as they understand the importance of animal welfare. In response to this trend, manufacturers have diverted to creating plant-based alternatives to their most popular treats like gummies, marshmallows, and chocolate. They use ingredients which are free of animal cruelty, dairy, and gluten to support consumer demand. Confectioners have brought in new recipes that can be suited to non-vegans and vegans. These products are manufactured using ethical practices, and are made with the emphasis on no alteration to taste or sensory feel.

The highest demand for vegan confectionery comes from North America, making it the largest region for market growth. There are a number of reasons why North America holds this position. One of these factors is a higher populace which has diverted to vegan diets due to the growing awareness of its benefits on the environment and human health. Other factors include the changing preferences towards plant-based products, supported by North America’s renowned health food and specialty sector. The US has greatly fueled the region’s dominance. The country owes this contribution to a majority of its population who have adopted vegan or vegetarian diets.

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Global Vegan Confectionery Market

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