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North America Marshmallow Market Size, Share, Growth Analysis, By Product Type(Flavored, Unflavored (Plain)), By Distribution Channel(Supermarkets/Hypermarkets, Specialty Stores, Convenience Stores, Online Retail), By Nature(Vegan, Organic, Kosher, Conventional), By Region - Industry Forecast 2024-2031
Report ID:
SQMIC30I2387 |
Region:
Country |
Published Date: February, 2024
Pages:
165
|Tables:
91
|Figures:
74
North America Marshmallow Market Insights
North America Marshmallow Market size was valued at USD 340.25 billion in 2019 and is poised to grow from USD 362.7 billion in 2023 to USD 604.79 billion by 2031, at a CAGR of 6.60% during the forecast period (2024-2031).
Over the course of the projection period, the market will be significantly impacted by the growing trend toward opulent and premium confectioneries.
Modern marshmallows typically consist of sugar, water, and gelatin that have been whisked to a spongy consistency, shaped into tiny cylindrical pieces, and dusted with corn starch. All age groups of consumers enjoy marshmallow sweets products very much. Customers are increasingly inclined to want vegan baked goods in today's world, where the awareness of eating organic foods is growing quickly. Several small bakeries are producing entirely organic sweets to capitalise on this developing trend. For instance, Yummallo introduced its vegan marshmallows to Walmart locations throughout the world in April 2021. Instead of utilising pig-derived gelatin, the company created their vegan mallows with vanilla, rice protein, corn starch, and sugar as ingredients. Similar to this, tapioca, soy protein, carrageenan, and cane sugar were used to make the plant-based Dandies Marshmallows by Chicago Vegan Foods. Thus, the development of organic marshmallows has created a new avenue for north america marshmallow market expansion.
North America Marshmallow Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Flavoured
Fastest Growth
Flavoured
Growth Rate
6.60% CAGR
North America Marshmallow Market, 2022-2028 ($ Bn)
Country Share for North America Region- 2021 (%)
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North America Marshmallow Market Segmental Analysis
The North America Marshmallow Market is segmented based on Product Type, Nature, Distribution Channel and Region. Based on Product Type it is categorized into: Flavored and Unflavored. Based on Nature it is classified into: Vegan, Organic, Kosher, Conventional. Based on Distribution Channel it is sub-segmented into Supermarkets/Hypermarkets, Specialty Stores, Convenience Stores, Online Retail. Based on region it is categorized into: US & Canada.
North America Marshmallow Market Analysis by Type
The flavoured variety commands a bigger north america marshmallow market share as a result of consumers' increased preference for novel and creative confections. This has given producers numerous opportunity to introduce fresh, natural flavours to the marketplace. Consumers are spending more money on experiences, particularly millennials. This has spread throughout the confectionery industry, spurring demand for flavours that may evoke a variety of tastes, textures, and feelings in a single mouthful. Additionally, a number of producers are releasing fresh tastes, including cinnamon, vanilla bourbon, and birthday cake, which is anticipated to further fuel north america marshmallow market expansion.
White or unflavored marshmallows are rarely consumed and are often served toasted or with hot chocolate. Its widespread use in s'mores-making is anticipated to contribute to its continuous expansion.
North America Marshmallow Market Analysis by Nature
The conventional style presently rules the market, and it is anticipated that it will continue to do so in the upcoming years. The standard variations' widespread availability and comparably cheaper price are the elements promoting its expansion. However, it is anticipated that sales of organic marshmallows will increase in the next years due to the strong movement toward clean labelling that is being supported by sensible customers. The market is growing as a result of consumers' growing awareness of the negative consequences of synthetic pesticides.
The rising popularity of veganism in the region, brought on by consumer concerns about animal welfare and environmental sustainability, is also anticipated to fuel market expansion for vegan marshmallows throughout the local projection period.
North America Marshmallow Market Analysis by Distribution Channel
Supermarkets and hypermarkets account for the largest portion of distribution channels, according to a distribution channel analysis. These mass merchandisers profit from offering customers a diverse selection of goods. Customers are also drawn to them because of their proximity, accessibility, and cost in addition to this. Visits from customers have increased dramatically as a result of the dedicated confectionery aisle, which features a variety of products and offers multiple discounts to draw customers in.
However, due to their convenience, increased digital literacy, improved shopping experiences, and doorstep delivery choices, online retail platforms are rapidly expanding in popularity. In the United States, internet sales of confections other than chocolate climbed from USD 366.9 million in 2017 to USD 655.2 in 2019, according to the National Confectioners Association (NCA) report 2020. Thus, it is anticipated that these factors will increase the market share of online retail sales in the years to come.
North America Marshmallow Market By Product type, 2021 (%)
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North America Marshmallow Market Regional Insights
Currently, the U.S. dominates the market in the area, with sales of more than USD 262.7 million in 2021. This is due to the fact that the confectionery sector plays a significant role in both the national food culture and the trends in American food consumption. One of the key factors propelling the global market is the geography. The nation's customers have developed a strong affection for this traditional snack, using it to make pastries, add to hot chocolate, and as a popular snack option. To meet changing consumer tastes and preferences, several small and large bakeries in the US and Canada are expanding their product lines with vegan cakes and pastries, which is good news for this north america marshmallow market. The increased customer preference for convenient snacks and non-chocolate confectionery items has also increased the product's consumption in the U.S.
North America Marshmallow Market By Geography, 2022-2028
- Largest
- Fastest
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North America Marshmallow Market Dynamics
North America Marshmallow Market Driver
- The most important factors driving the global marshmallow market are the increasing demand for candies made with marshmallow. The global marshmallow industry is seeing an increase in demand for non-chocolate candies such gummy bears, liquorice, and other items.
- The worldwide marshmallow market's expansion is also being positively impacted by seasonal and single-serve product packaging. The items in the worldwide marshmallow market have a softer profile and a milder flavour, which makes them a lovely element that can be used in a range of food products including pies, cakes, puddings, mores, and pancakes, among countless others.
North America Marshmallow Market Restraint
- One of the key reasons hindering the north america marshmallow market's success is the present increase in customer interest in reducing their daily intake of sugar. To support their health and reduce the chance of developing chronic illnesses like diabetes, consumers are steadily shifting toward wholesome foods. This has increased the demand for low-calorie and sugar-free goods in the area. thereby having a negative effect on the expansion of the local market.
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North America Marshmallow Market Competitive Landscape
By making investments in R&D, incorporating cutting-edge technology into their products, and releasing updated items for the market, the players continue to dominate the north america marshmallow market. Different tactics are used, such as entering into agreements, mergers, and collaborations.The major players in the Marshmallow market include Mondelez International, Inc. (Chicago, United States), General Mills, Inc. (Minnesota, United States), Doumak, Inc. (Illinois, United States), North Mallow (Minnesota, United States), Just Born, Inc. (Pennsylvania, United States), Chicago Vegan Foods (United States), Stuffed Puffs, LLC (Pennsylvania, United States), Madyson’s Marshmallow (Washington, United States), Hammond’s Candies (Colorado, United States), Kitchening & Co. (Vancouver, Canada). To gain a competitive edge and solidify their market positions, these industries are exploring a range of growth strategies.
North America Marshmallow Market Top Players Company Profiles
- Kraft Foods Group Inc.
- Mondelez International Inc.
- Doumak Inc.
- Just Born Quality Confections
- Campfire Marshmallows
- Plush Puffs Gourmet Marshmallows
- Fireside Marshmallows
- Smashmallow Sweet & Sara
- Jet-Puffed Marshmallows
- Mellows Ghost Sweets
- SmashMallow
- Dandies Marshmallows
- XO Marshmallow
- Candy Kittens
- Madyson's Marshmallows
- 240sweet
- Wondermade
- Gourmet Trading Co.
North America Marshmallow Market Recent Developments
- In July 2022, the online store for Hotel Tango has been introduced with Shmallow Toasted Marshmallow Bourbon. The 60-proof whiskey has a smoky flavour with hints of marshmallow and caramelised sugar, as stated in the website page.
- In June 2022, the latest flavour of Coke is fruity Marshmello, and marshmallow Starlight. Beginning on July 11, the new flavor—which is also offered in a zero-sugar version—will be accessible in the US.
- In June 2022, LCMs, the beloved snack bar for kids, is a famous lunch box brand that Kellogg's Australia has launched a new line of. The new line comes in two new delectable flavours of marshmallows and has 25% less sugar than comparable LCM bars.
North America Marshmallow Key Market Trends
- Popularity of vegan marshmallows is rising - Increased purchasing power brought on by growing income pools is a key growth accelerator that drives rising demand. Doumak and Dandies Vegan Marshmallows, for instance, are rapidly expanding into lucrative markets all across the developing globe.While a substantial section of the world's population has a moderate income, vegan marshmallows with a low price tag are anticipated to stay popular.
- Consumption in the anticipated term is anticipated to increase due to the extensive usage of flavourings and icings in various sweets. On the other hand, as consumers look for new flavours to enhance their sensory experiences, peppermint marshmallows are becoming more and more popular.
North America Marshmallow Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, by type, the flavored segment of the marshmallow market has the largest revenue share in the year 2021. On the basis of nature, the conventional segment has dominated the market. Region-wise, the US region accounted highest north america marshmallow market share with more than $262.7 M of market value in the year 2021. The market for Marshmallow is anticipated to increase as a result of the strong demand from the food and beverage industry.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD |
| Market size value in 2031 | USD |
| Growth Rate | 6.60% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Data-sheets-value="{" |
| Segments covered |
|
| 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 |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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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 North America Marshmallow 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
- Exhibit: Impact analysis of DROC, 2021
- 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 North America Marshmallow 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
- Exhibit: Impact analysis of DROC, 2021
- 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
- Competitive rivalry
- 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(%)
- Total number of companies covered
Methodology
For the North America Marshmallow 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 North America Marshmallow 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 North America Marshmallow Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the North America Marshmallow 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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