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3 Key Insights on ~US$ 1,200 Mn Opportunity in the Global Vegan Chocolate Confectionery Market: Ken Research

Growing Environmental Protection Initiatives and Increased Public Awareness Regarding Animal Cruelty Are Driving Market Expansion for The Global Vegan Chocolate Confectionery Market which is forecasted to Cross ~US$ 1,200 Mn by 2028 says Ken Research Study.

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 this high-opportunity market from its latest research study.

  1. Dairy-free and lactose-free products are becoming more favored by consumers, assisting the market to expand.

Diverse food allergies and instances of lactose intolerance have been reported in recent years related to dairy products such as milk, cream, cheese, and yogurt. Anaphylaxis, milk protein-induced entropy and gastroenteritis are just a few of the allergens that can occur from dairy intolerance. The demand for vegan products is expanding as a result of these adverse health effects. Thus, it is predicted that during the forecast period, the rising vegan population will drive market expansion.

According to Food Tolerance Network data, as of 2019, approximately 70% of the world’s population was lactose intolerant to some extent.

According to Ken Research estimates, the Global Vegan Chocolate Confectionery Industry – valued at around ~US$ 335 million in 2017 and estimated to reach nearly ~US$ 575 million by 2022 – is further expected to grow to around ~US$ 1,200 million opportunity by 2028.

Global Vegan Chocolate Confectionery Market

  1. Consumers’ Increasing Healthcare Awareness Is Driving More Demand For Vegan Chocolates.

According to the American Academy of Nutrition and Dietetics and the British Dietetic Association, diet is appropriate for persons of all ages and stages of life. A well-planned vegan diet that meets healthy eating standards gives all of the nutrients that the body needs. Veganism promotes healthy eating habits while lowering the hazards linked with toxic animal fats. Plant-based chocolate is high in vitamins, fiber, and minerals. Many lactose-intolerant people prefer plant-based alternatives. As a result, the global demand for vegan chocolates is expanding.

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The National Library of Medicine in 2022 reported that approximately 65% of individuals worldwide suffer from lactose intolerance to some extent.

Global Vegan Chocolate Confectionery Industry

  1. Vegan Chocolate Is Expensive Since It Contains High-Quality Ingredients, Restricting The Market Growth.

Vegan chocolate is extremely nutritious for consumers, but its overall cost is substantially greater than that of regular chocolate, making it difficult for vegan chocolate manufacturers to compete in the worldwide market.

Vegan chocolate typically costs ~35 US$/Kg whereas regular chocolate costs roughly ~13/Kg.

Global Vegan Chocolate Confectionery Sector

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

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

For More Information on the Research Report, Click on the Below Link: – 

Global Vegan Chocolate Confectionery Industry

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