What is the Size of Global Vegan Chocolate Confectionery Industry?
Global Vegan Chocolate Confectionery market is growing at a CAGR of ~% in 2017-2022 and is expected to reach ~USD Bn by 2028F.
The Industrial Automation and Control Systems Market is largely driven by consumers’ growing acceptance of such lifestyles, particularly among teenagers and employees in the workplace.
Consumers are becoming more sensitive and empathetic to animals as they become more aware of the conditions and environments in which animals are raised. Because of animal welfare issues, consumers are rapidly turning to plant-based foods, especially plant-based chocolates. Vegan chocolate is produced without the use of dairy milk, which many people these days believe is a significant contributor to environmental problems.
An increase in consumer health awareness is driving up demand for vegan chocolate since a well-planned vegan diet that follows healthier dietary guidelines provides a body with all the nutrients it requires.
Vegan chocolate is very nutrient-dense for consumers, but since it is more expensive than normal than traditional chocolate, vegan chocolate producers find it challenging to compete in the world market.
The COVID-19 pandemic had a negative impact on the market since most countries imposed lockdowns, which hindered the supply of cocoa around the world, reduced output, and limited sales.
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Global Vegan Chocolate Confectionery Market By Product
The Global Vegan Chocolate Confectionery market is segmented by Product into Molded Bars, Chips & Bites, Boxed Truffles & Cups, Others. Molded Bars dominated the market in 2021 since chocolate bars have become the most popular type worldwide.
Molded bars are becoming increasingly popular among young adults. As a result, industry manufacturers have the advantage of launching new products targeted at such age groups. In addition, the convenient size of the product adds to its growth. Molded bars are used in premium bakery products for various festivals and small events grows.
Global Vegan Chocolate Confectionery Market By Type
The Global Vegan Chocolate Confectionery Market is segmented by Type into Milk, Dark, White. The milk segment accounted for the highest market share in 2021, due to the increasing demand for such products because of its sweet and creamy flavour.
Major market players are also developing vegan versions of well-known chocolate confectionery. Such an approach allows the firm to enjoy global brand loyalty that results in increased sales of such products.
Endangered Species Chocolate introduced a new Animal-Free range of Oat Milk Chocolate in March 2020. This product line includes oat milk bars that are vegan and gluten-free and come in three flavours.
Key Topics Covered in the Report
- Snapshot of Vegan Chocolate Confectionery Market
- Industry Value Chain and Ecosystem Analysis
- Market size and Segmentation of the Vegan Chocolate Confectionery Market
- Historic Growth of the Overall Vegan Chocolate Confectionery Market and Segments
- Competition Scenario of the Market and Key Developments of Competitors
- Porter’s 5 Forces Analysis of the Vegan Chocolate Confectionery Market Industry
- Overview, Product Offerings, and Strengths & Weaknesses of Key Competitors
- COVID-19 Impact on the Overall Vegan Chocolate Confectionery Market
- Future Market Forecast and Growth Rates of the Total Vegan Chocolate Confectionery Market and by Segments
- Market Size of Application / End User Segments with Historical CAGR and Future Forecasts
- Analysis of the Vegan Chocolate Confectionery Market in Global Regions
- Major Production/Supply and Consumption/Demand Hubs in the Region
- Region-wise Historic and Future Market Growth Rates of the Total Market and Segments
- Overview of Notable Emerging Competitor Companies within the Region
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Notable Emerging Companies Mentioned in the Report
- CRAVE
- One Good.
- MilkinOats
- Nucao
- Piperleaf
Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report
- Vegan Chocolate Confectionery Manufacturers and Providers
- Vegan Chocolate Confectionery Distributors and Developers
- Vegan Chocolate Organizations, Forums, Alliances, And Associations
- New Entrants/Investors
- Analysts and Strategic Business Planners
- Vegan Chocolate Manufacturers
- Suppliers and Distributors of Vegan Chocolate Confectionery,
- Venture Capitalists and Private Equity Firms,
- Government Regulatory and Research Organizations
- Market research and consultancy firms
Time Period Captured in the Report
- Historical Period: 2017-2021
- Forecast Period: 2022E-2028F
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