logo
logo
Sign in

Vegan Chocolate Confectionery Market Overview: Key Players, Competitive Strategies, and Market Share Analysis

avatar
Steve Anderson
Vegan Chocolate Confectionery Market Overview: Key Players, Competitive Strategies, and Market Share Analysis

The global vegan chocolate confectionery market size is expected to reach USD 1.41 billion by 2028, registering a CAGR of 14.8% over the forecast period, according to a new report by Grand View Research, Inc. Growing awareness about animal cruelty and the rise in environmental protection campaigns are expected to be the major factors contributing to the growth of the market. Vegan chocolate confectionery is popular among consumers following a flexitarian or vegan diet or consumers having lactose intolerance and other food allergies.


Vegan Chocolate Confectionery Market Report Highlights

  • Asia Pacific is expected to be the fastest-growing regional market during the forecast years due to the rising cases of lactose intolerance and an increasing number of vegans in the region
  • The chips & bites segment is expected to register the fastest CAGR from 2021 to 2028 owing to the wide application scope of chips and bites in premium bakery products
  • North America dominated the global market accounting for a revenue share of over 37% in 2020
  • This growth was credited to the rising demand for vegan and dairy-free products in North America

For More Details or Sample Copy please visit link @: Vegan Chocolate Confectionery Market Report


The molded bars product segment led the market and accounted for the highest revenue share in 2020. Bar chocolates are the most consumed chocolate form in the world. According to a study conducted by Google, the top five chocolates titled as favorite chocolates in the world, based on their annual searches, are sold in the form of bars. The milk chocolate segment accounted for the largest share in the market in 2020 on account of the high demand for these products due to their sweet and creamy taste. According to a study conducted by Google, in October 2019, Cadbury Dairy Milk chocolate was considered to be the most popular chocolate bar in the world. According to the same study, the classic milk chocolate bar received, on average, a total of 466,680 searches annually. These market trends are anticipated to increase the product demand.

Offline distribution channel accounted for the largest share of the global market in 2020. This segment is projected to retain its dominance throughout the forecast period owing to the consumer inclination toward shopping grocery products from supermarkets and convenience stores, where they can physically examine the product quality. The global market is fragmented with the presence of a large number of global and regional players.

Gain deeper insights on the market and receive your free copy with TOC now @: https://www.grandviewresearch.com/checkout/select-license/vegan-chocolate-confectionery-market

We have segmented the global vegan chocolate confectionery market on the basis of product, type, distribution channel, and region.


Research Methodology

We employ a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. We utilize a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously.

About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S. based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

 

Contact:

Grand View Research, Inc.

Phone: 1-415-349-0058

Toll-Free: 1-888-202-9519

Email: [email protected]

Web: https://www.grandviewresearch.com


collect
0
avatar
Steve Anderson
guide
Zupyak is the world’s largest content marketing community, with over 400 000 members and 3 million articles. Explore and get your content discovered.
Read more