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Vegan Marshmallows Market registering a value CAGR worth 8.4% across the 2020-2028
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The vegan marshmallows market is projected to grow at an 8% CAGR from 2020 to 2028, driven by sustainability and plant-based diet trends.
The global vegan marshmallows market is slated to expand at a remarkable CAGR of 8% throughout 2020-2028. Expansion is majorly underpinned by increased consciousness in relation to reducing environmental footprint and maintaining environmental sustainability throughout the forecast period. The COVID-19 outbreak had a positive impact on the market as consumers are increasingly moving towards plant based alternatives.
The vegan food industry has witnessed spectacular gains in the past few years, owing to increasing realization amongst consumers about the perceived ill-effects on human health as a result of excessive animal based food products. The popularity of plant-based confectionery is an interesting trend in this regard. Bouyed by these factors, Future Market Insights (FMI), in its recently published study, opines that global vegan marshmallows market will grow at over 8% through 2028.
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“Escalating demand for clean-label certifications, incorporating kosher and halal, across key regions is encouraging vegan food players to launch unique flavor combinations of plant-based marshmallows, thus positively fueling market growth.” states the FMI analyst.
Vegan Marshmallows Market – Important Highlights
Vegan Marshmallows Market – Drivers
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Vegan Marshmallows Market – Restraints
COVID-19 Impact on Vegan Marshmallows Market
Consumers are exercising precautions and making required dietary changes such as shifting away from animal based food products for plant based on the onset of COVID-19 pandemic. In this way, such prevailing trends generated growth prospects and a notable rise in demand for the vegan marshmallow market in recent months.
Competitive Landscape
Leading companies operating in the global Vegan Marshmallows market include Supreme Industries Limited, DS Smith Plc, Schoeller Allibert Services B.V., TranPak, Inc., Rehrig Pacific Company, Inc., Ravensbourn Plastics Ltd, IPL Plastics Inc., Zhejiang Zhengji Plastic Industry Co. Ltd., Craemer UK Ltd, Palcon LLC and Myers Industries, Inc. The global market is extremely competitive. With the aim of sustaining their positions, the market players are emphasizing on enhancing the qualities of their products.
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Table of Content
3.1. Introduction
3.2. Global Vegan Marshmallows Market Size (US$ Mn & Volume (MT)) and Forecast, 2014-2028
3.3. Market Background and Associated Industry Assessment
3.4. Global Vegan Marshmallows Market Dynamics
3.5. Consumer Sentiment Analysis
3.6. Value Chain Analysis
3.7. Pricing Analysis
4.1. Global Vegan Marshmallows Market Size and Forecast By, Pricing, 2014-2028
4.2. Global Vegan Marshmallows Market Size and Forecast By Flavor, 2014-2028
4.3. Global Vegan Marshmallows Market Size and Forecast By Distribution Channel, 2014-2028
Explore FMI’s Coverage of the Food & Beverage Industry
Rich Vegan Flavors Market: Future Market Insights (FMI) forecasts optimistic growth for global vegan flavors market and projects a CAGR of 4.8% between 2020 and 2030.
Vegan Protein Concentrate Market: FMI’s exhaustive study on the global vegan protein concentrate market covers the latest trends, innovations, key players, and popular strategies for the period 2019-2029.
Vegan Pasta Market: The Vegan Pasta Market is valued at US$ 161.5 Million in 2021. The market is likely to grow at a CAGR of 9% through 2029, reaching US$ 322 Million.
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The article discusses the growth of the vegan marshmallows market from 2020 to 2028.
Increased environmental consciousness and demand for plant-based diets are key drivers.
High costs and regulatory challenges due to unclear ingredient definitions are major hurdles.
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