Global Vegan Chocolate Confectionery Market By Geography
The Global Vegan Chocolate Confectionery market is segmented by geography into North America, Europe, Asia- pacific and LAMEA. North America accounted for the largest market share among all regions in 2021, owing to the region’s growing vegan population is expected to boost the market growth. As the vegan population in Canada and the United States grows, North America will see a rise in vegan chocolate confectionery.
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Furthermore, owing to the subcontinent’s existing recognized product manufacturers and the introduction of new food innovations supporting the market value of vegan diets among the younger population, this region will witness significant growth in market size.
Global Vegan Chocolate Confectionery Market By Distribution Channel
The Global Vegan Chocolate Confectionery market is segmented by Distribution Channel into Hypermarkets/Supermarkets, Convenience Stores, Specialty Stores, Online Retail, Others.
Hypermarkets/Supermarkets dominated the market in 2021, due to the public preference for buying food and snacks from Hypermarkets/Supermarkets.
Such dominance can be attributed to consumers’ strong preference to purchase goods from large supermarkets since they have a wide variety of brand and pricing options.
Furthermore, vegan chocolate is offered at a discount and is a premium quality food product at supermarkets and hypermarkets.
Competition Scenario In Global Vegan Chocolate Confectionery Market
The Global Vegan Chocolate Confectionery Industry is competitive with ~100 players which include globally diversified players, regional players as well as several country-niche players each with their niche in Vegan Chocolate Confectionery. Large global players constitute ~15% of competitors, while country players represent the largest number of competitors. Some of the major players in the market include Alter Eco, Endangered Species Chocolate, LLC, Endorfin Foods., Equal Exchange Coop, Goodio, Mondelēz International, Nestle, No Whey Chocolate, The Hershey Company, Theo Chocolate, Inc., and others
What is the Expected Future Outlook for the Overall Global Vegan Chocolate Confectionery Market Across the globe?
The Global Vegan Chocolate Confectionery market was valued at USD ~billion in 2022 and is anticipated to reach USD ~billion by the end of 2028F, witnessing a CAGR of ~% during the forecast period 2022-2028F. The realistic growth scenario represents the most likely scenario as per current market conditions. This scenario assumes that there will be no overall impact on the market due to any potential COVID-19 waves in the future.
The Global Vegan Chocolate Confectionery market is driven by consumers’ growing acceptance of such lifestyles, particularly among teenagers and employees in the workplace.
In April 2021, Mondelez International, Inc., a world leader in snacking, and Olam Food Components (OFI), a top supplier of cocoa beans and cocoa ingredients announced a new collaboration in Indonesia to establish the largest sustainable commercial cocoa plantation in the world.
In January 2021, Alter Eco launched two new super-dark chocolate bars to their Blackout range: Total Blackout and Raspberry Blackout.
The Global Vegan Chocolate Confectionery Market is anticipated to grow significantly during the projected period (2022-2028) due to an increase in the number of initiatives and public awareness about environmental protection and animal suffering. Furthermore, adolescents and adults are dealing with issues such as food allergies and lactose intolerance, which have influenced individual eating habits in recent years. Though the market is competitive with ~100 participants, few country-niche players control the dominant share and regional players also hold a significant share.
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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