Global Vegan Confectionery Market

Global 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

Global 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)

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FAQs

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 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 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.

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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