Country-Niche Players Dominate the Market Holding ~45% Share Despite the Presence of about ~100 Competitors Comprising a Significant Number of Regional Players and Global Players, finds a recent market study on the Global Vegan Chocolate Confectionery Market.
Chocolate that has not been manufactured using dairy products or that has not come into contact with any animal products, such as dairy, eggs, or honey, is referred to as vegan chocolate. Vegan milk chocolates may not actually taste like dairy-based milk chocolates since the creaminess originates from plant-based ingredients like rice, oats, or coconut.
Ken Research shares 3 key insights on the competitive landscape of this dynamic market from its latest research study.
1. Global Players Constitute ~15% of the Total Number of Competitors, While Country-Niche Players Dominate Representing ~45% of Total Competitors.
Competitive Analysis by the Ken Research Study found that the Global Vegan Chocolate Confectionery Market is competitive with ~100 players which include globally diversified players, regional players as well as several country-niche players having their own niche in the vegan chocolate confectionery. The country-niche players comprise the largest share of about ~45% in terms of the number of companies, followed by regional players accounting for ~40% in terms of the number of companies. Furthermore, to generate unique and fresh flavors for vegan chocolates, and manufacturers are putting considerable effort into research and development. Vegan chocolates’ expanding popularity can be attributed to their unique flavor and beneficial nutritional qualities. To enhance overall sales in the vegan chocolate industry, businesses are stepping up overall marketing and promotional efforts.
2. The Ongoing Efforts Of Leading World Specialists To Provide Vegan Chocolate Confectionery To Various Products Is Likely To Boost The Market
Detailed comparative analysis of key competitors available within the Research Study shows that specialists players like Alter Eco, Endangered Species Chocolate, LLC, Endorfin Foods, Goodio, No Whey Chocolate, and Theo Chocolate, Inc. are strongly focused on providing important vegan chocolate confectionery product such as molded bars, chips & bites, boxed, truffles & cups. The market is competitive, and in order to gain a competitive edge, the leading competitors are engaging in a variety of strategic operations like mergers and acquisitions, collaborations, and product releases.
In February 2020, Mondelez International announced the launch of a vegan version of their best-selling brand Dairy Milk
In June 2021, Nestle launched a new vegan KitKat offering options across its wide selection of foods and beverages, such as dairy-free coffee mixes and Carnation Vegan condensed milk, the company hopes to encourage consumers to take more plant-based meals.
3. Government Programs To Encourage the Expansion of the Global Vegan Chocolate Confectionery Market
The Danish government in 2022 stated that it will provide more than US$100 million to a new “Plantefonden” (or Plant Fund) to support climatically sustainable plant-based foods. For the Plant Fund, which only supports plant-based foods, a historic amount of US$ 100 million (DKK 675 million) has been set aside until 2030. The Plant Fund is a key project in the Danish government’s agricultural agreement as it seeks to embrace the benefits of the plant-based economy for the environment and greater food security.
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In 2021, the French government announced and revised the new initiative for sustainable cocoa, which unites the government with businesses, traders, distribution brands, civil society organizations, and research institutions involved in the country’s cocoa and chocolate industries.
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
Notable Emerging Companies Mentioned in the Report
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
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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