Global Vegan Marshmallow Market is valued approximately USD 2678 million in 2019 and is anticipated to grow with a healthy growth rate of more than 6.7 % over the forecast period 2020-2027. Vegan Marshmallow is a natural ingredient made with vegan products and does not contain gelatin (animal extract). It is used by people following a vegan diet. Along with its vegan properties, it also possesses some medicinal properties which helps to cure various infections and diseases like diabetes , obesity and cholesterol. Due to the increasing concerns for animal welfare, people are shifting to the vegan diet , as a result increasing demand for vegan Marshmallow market. Also, after the advent of coronavirus large population of people shifted permanently to vegan diet. According to a report by Vegan Society, only 1% consumers claimed to be vegan in 2014. And in 2017, that number rose to 6% So the demand for vegan products has enormously increased. A study undertaken by World Health Organisation way back in 2019 established efficacy of Marshmallows in relieving coughs induced by colds, bronchitis and other respiratory tract diseases. Over a span of 12 days, the 62 participants in the trial reported almost 90% improvement in symptoms. Thus, lozenges containing Marshmallows have become highly popular resulting to the increase in demand for vegan Marshmallow .However, high cost of vegan Marshmallow impedes the growth of the market over the forecast period of 2020-2027. Also, Opportunity with the increasing prevalence of injuries, the adoption & demand for Vegan Marshmallow is likely to increase.
The regional analysis of global Vegan Marshmallow market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the growing preference of vegan diet among people. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as rising disposable income and rising standard of living of people would create lucrative growth prospects for the Vegan Marshmallow market across Asia-Pacific region.
Major market player included in this report are:
Supreme Industries Limited,
DS Smith Plc
Schoeller Allibert Services B.V.
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 objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Distribution Channel:
Drug Stores & Pharmacies
Health & Wellness Stores
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Vegan Marshmallow Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers