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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.
"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.
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Vegan Marshmallows Market - Important Highlights
North America is anticipated to record a CAGR of more than 8% during the forecast period 2020-2030.
Premium vegan marshmallows & associated products will lead the pricing category over the assessment period.
Vanilla marshmallows are anticipated to gain traction owing to extensive use as flavouring.
Vegan Marshmallows Market - Drivers
Compelling remedy against several infectious and chronic ailments to boost consumption of vegan marshmallows.
Mounting concerns over animal welfare is likely to positively impact the market growth.
Increasing shift towards flexitarian diets to boost market expansion.
Vegan Marshmallows Market - Restraints
Absence of a robust manufacturing strategy to clearly define ingredients for a vegan or vegetarian claim is attracting strict regulations and hindering market sales.
High cost associated with the vegan marshmallows can limit sales in the market.
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.
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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.
About the Study
The study offers readers a comprehensive assessment of the vegan marshmallows market. Global, regional and national-level analysis of the latest trends influencing the market is covered in this FMI report. The study provides insights on the basis of ingredient (vanilla, pumpkin, peppermint, chocolate & others), distribution channel (hypermarkets/supermarkets, convenience store, drug stores & pharmacies, health & wellness stores, online retailing and other retailers) and pricing (economic & premium) , across key regions (North America, Latin America, Europe, China, Asia Pacific, Middle East & Africa).
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Table of Content
1. Table of Content
2. Global Vegan Marshmallows Market - Executive Summary
3. Global Vegan Marshmallows Market- Overview
3.1. Introduction
3.1.1. Global Vegan Marshmallows Market Taxonomy
3.1.2. Global Vegan Marshmallows Market Definition
3.2. Global Vegan Marshmallows Market Size (US$ Mn & Volume (MT)) and Forecast, 2014-2028
3.2.1. Global Vegan Marshmallows Market Y-o-Y Growth
3.3. Market Background and Associated Industry Assessment
3.4. Global Vegan Marshmallows Market Dynamics
3.4.1. Market Dynamics
3.4.2. Market Restraints
3.4.3. Market Opportunities
3.4.4. Market Trends
3.4.5. Macroeconomic Factors
3.4.6. Forecast Factors
3.4.7. Regulatory Landscape
3.5. Consumer Sentiment Analysis
3.6. Value Chain Analysis
3.7. Pricing Analysis
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Contact Info:
Name: Abhishek Budholiya
Email: Send Email
Organization: Future Market Insights
Website: https://www.futuremarketinsights.com/reports/vegan-marshmallows-market
Release ID: 89003573
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