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Marshmallows are a type of confectionery item, typically made from sugar, water, and gelatine. Traditionally marshmallows were made from the sap extract of the marshmallow herb that was laced with sugar to form a sweet, that resembled a cloud in ancient Rome. The marshmallows in recent times are incorporated in various processed foods such as hot chocolate, treats and candies due to its sweet texture. Further, the availability of various unique flavours such as lemon curd and coconut, mojito, maple gingerbread and others in marshmallows has also contributed in fuelling its market.
The changing taste preferences of the consumers has influenced the manufacturers introduce new varieties and food-concepts for marshmallows. For instance, In February 2016, Bonds confectionery launched sour marshmallow clouds in a variety of flavours such as strawberry, lemon, cherry cola and others.
The increase in consumers’ demand for innovative food products due to their evolving taste preferences is a major factor driving the marshmallow market. The introduction of new specialty marshmallow varieties such as gourmet and vegan have recently grown popular among the consumers. Further, the manufacturers have launched several flavours such as banana, strawberry, coffee, gingerbread and others which have also driven its market growth.
Marshmallow is a sweet and puffy confectionery item that has high amount of sugar content in it. Moreover, the consumption of high sugary substances can lead to diabetes, obesity and other health adversities. This has hampered the marshmallow market growth.
Key Market Driver -
Rising Demand for Innovative Food Products
Key Market Restraint -
Harmful Health Effects of Consuming High Sugar Food Products
The key companies operating in the global marshmallow market are, H.J. Heinz Company Brands LLC, DOUMAK INC., Just Born, Dandies Marshmallow, HIYOU, Liwayway Holdings Company Limited, Riverdale Confectionery Industry, Inc., Kerry Group Plc, Mr Mallo, and Darling Ingredients International Holding B.V.
The global marshmallow market is segmented by type, distribution channel and geography. The type segment is led by the flavoured marshmallows as consumers prefer them over unflavoured white marshmallows. The flavoured marshmallows infuse their flavours in various culinary preparations, hence improving its taste and mouthfeel.
The hypermarkets and supermarkets are expected to hold the major market share as it offers wide range of products along with ease of shopping to the consumers. Additionally, the freedom of selection of products, bundling schemes and product distinct aisles offer convenient shopping experience to them, which has contributed to increase in marshmallow products sales.
North America is witnessing a robust growth in the marshmallow market due to the growing manufacturer focus on launching new varieties such as low-sugar and vegan marshmallow products for consumer attraction. Marshmallows with low-sugar content have high demand in the U.S and Canada as snacking product.
Europe is expected to observe a significant growth in the marshmallow market due to the presence of an established confectionery base in the region. The growing supply chain network and the easy availability of marshmallows in various convenience stores and supermarkets have propelled its regional market growth.
Asia Pacific is anticipated to witness moderate growth in the marshmallow market owing to its rapid urbanization. The rise in consumers’ adaption to westernized cultures has led them to incorporate such products in their foods. These factors cumulatively have fuelled the marshmallows market growth in the region.
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