Justin’s, the Colorado-based nut butter brand, has introduced vegan almond and cashew butter cups for the first time at the Sweets & Snacks Expo in Chicago, adding a new product to the vegan confectionery market.
The company is raising the bar, especially with its Cashew Butter Cups; they are the first of their kind on the market, and a real sensation. And the company seems to be focusing on the right product, because according to a report by market research company Transparency Market Reports, the global vegan chocolate market is set to grow rapidly in the coming years. This will be driven primarily by younger consumers, who are Justin’s’ main target group. In addition, new data from “Mintel” suggests that the demand for chocolate is set to increase worldwide. At the same time, the vegan chocolate market in Europe has strong growth potential.
Thanks to these prospects, several other brands have already begun to benefit from the growing niche market for vegan confectionery. “Eating Evolved”, for example, offers its own updated version of the classic peanut butter cups, as well as dark coconut butter cups in different flavours such as strawberry and banana. The New York City-based brand “Hu Kitchen” also produces sweets made from vegan dark chocolate. And thanks to a strategic partnership and financing from the food and beverage incubator “Sonoma Brands”, HU’s products could soon also be available in food retailers.
Either way, there are sweet times ahead in the market for vegan chocolate and confectionery.