Table of Contents
Historical Data, Premium Insights, Market Dynamic, Analysis and Projection, By Product, Analysis and Projection, By Application, Analysis and Projection, By End-Use, Analysis and Projection, By Regional Analysis, Competitive Landscape, Company Profiles, Market Revenue, Sale & Price Analysis
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According to a research report published by Spherical Insights & Consulting, The Global Vegan Chocolate Confectionery Market Size is Expected to Grow from USD 702.6 Million in 2023 to USD 2898.8 Million by 2033, at a CAGR of 15.23% during the forecast period 2023-2033.
Browse 210 market data Tables and 45 Figures spread through 190 Pages and in-depth TOC on the Global Vegan Chocolate Confectionery Market Size, Share, and COVID-19 Impact Analysis, By Product (Molded Bars, Boxed, Chips & Bites, and Truffles & Cups), By Type (Dark, Milk, and White), By Distribution Channel (Offline and Online), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033
The global vegan chocolate confectionery market refers to the industry focused on creating and selling chocolate goods free of components derived from animals, such as milk, butter, or honey. To meet the needs of a growing percentage of vegans, health-conscious consumers, and people with dietary restrictions like lactose intolerance, these products instead use substitutes made from plants such as almond milk, coconut milk, or oat milk. Increasing environmental concerns, animal welfare awareness, and consumer demand for cruelty-free and sustainable food options are among the primary factors in this sector. Key driving factors for the growth of the vegan chocolate confectionery market include the increasing consciousness among consumers regarding sustainability, animal welfare, and health. Plant-based substitutes, such as chocolates, are in high demand as more individuals adopt vegetarian, vegan, or flexitarian diets. Additionally, customers are searching for dairy-free products due to concerns regarding lactose intolerance and dairy allergies. However, taste differences, low availability, high production costs, and a limited range of products impede their widespread adoption and customer acceptance in certain regions.
The molded bars segment accounted for the largest revenue share in 2023 and is projected to grow at a significant CAGR during the forecast period.
On the basis of product, the global vegan chocolate confectionery market is divided into molded bars, boxed, chips & bites, and truffles & cups. Among these, the molded bars segment accounted for the largest revenue share in 2023 and is projected to grow at a significant CAGR during the forecast period. The segment growth is attributed because there is a significant need for portable, easy-to-eat snacks worldwide. Vegan chocolate bars are popular, widespread, and regularly promoted with luxurious packaging and nutritional advantages.
The milk segment accounted for the highest revenue share in 2023 and is anticipated to grow at a substantial CAGR during the forecast period.
On the basis of type, the global vegan chocolate confectionery market is divided into dark, milk, and white. Among these, the milk segment accounted for the highest revenue share in 2023 and is anticipated to grow at a substantial CAGR during the forecast period. The segment growth can be attributed because it depends on plant-based milks like oats or almonds to produce a creamy mouthfeel. It has an extensive assortment of flavors and appeals to lactose-intolerant consumers, which fuels significant market demand
The offline segment accounted for the largest market share in 2023 and is anticipated to grow at a remarkable CAGR during the forecast period.
On the basis of distribution channel, the global vegan chocolate confectionery market is divided into offline and online. Among these, the offline segment accounted for the largest market share in 2023 and is anticipated to grow at a remarkable CAGR during the forecast period. The segment is driven by the growing availability of vegan chocolate in significant supermarkets, which is supported by specific shelf space, effective promotional efforts in-store, and convenient access to consumers during regular shopping expeditions.
North America is anticipated to hold the largest share of the global vegan chocolate confectionery market over the predicted timeframe.
North America is anticipated to hold the largest share of the global vegan chocolate confectionery market over the predicted timeframe. The regional market growth can be attributed to increasing demand for low-sugar and more nutritious foods, a growing number of vegans, and the realization that vegan chocolate excludes dairy. Innovation and the introduction of nutritional products have also been encouraged by increased rivalry among U.S. and Canadian firms
Asia Pacific is expected to grow at the fastest CAGR in the global vegan chocolate confectionery market during the forecast period. The regional market growth is driven because the clinical use / off-label therapeutics expanding rapidly as a consequence of high rates of lactose intolerance, a greater understanding of alternative diets, and an increase in the proportion of vegans. The demand for vegan chocolates in stores and supermarkets is being prompted by a sizable, younger, health-conscious consumer base that is searching for delicious, dairy-free options.
Company Profiling
Major vendors in the global vegan chocolate confectionery market are Endangered Species Chocolate, Equal Exchange, ENDORFIN FOODS, Chocoladefabriken Lindt and Sprungli AG, Mondelez International, Goodio, No Whey Chocolate, Montezumas Chocolate, RAAKA CHOCOLATE LTD., EVOLVED CHOCOLATE, and Others.
Key Target Audience
Recent Development
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global vegan chocolate confectionery market based on the below-mentioned segments:
Global Vegan Chocolate Confectionery Market, By Product
Global Vegan Chocolate Confectionery Market, ByType
Global Vegan Chocolate Confectionery Market, By Distribution Channel
Global Vegan Chocolate Confectionery Market, Regional
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