Dublin, June 30, 2021 (GLOBE NEWSWIRE) -- The "Vegan Chocolate Confectionery Market Size, Share & Trends Analysis Report by Product (Molded Bars, Chips & Bites, Boxed), Distribution Channel (Online, Offline), Type (Dark, Milk), Region, and Segment Forecasts, 2021-2028" report has been added to ResearchAndMarkets.com's offering.
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.
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.
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.
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
Key Topics Covered:
Chapter 1. Methodology and Scope
1.1. Market Segmentation & Scope
1.2. Market Definition
1.3. Information Procurement
1.4. Information Analysis
1.5. Market Formulation & Data Visualization
1.6. Data Validation & Publishing
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Product Outlook
2.3. Application Outlook
2.4. Competitive Insights
Chapter 3. Vegan Chocolate Confectionery Market Variables, Trends & Scope
3.1. Market Introduction
3.2. Penetration & Growth Prospect Mapping
3.3. Impact of COVID-19 on the Vegan Chocolate Confectionery Market
3.4. Industry Value Chain Analysis
3.5. Market Dynamics
3.6. Business Environment Analysis
3.7. Roadmap of Vegan Chocolate Confectionery Market
3.8. Market Entry Strategies
Chapter 4. Consumer Behavior Analysis
4.1. Demographic Analysis
4.2. Consumer Trends and Preferences
4.3. Factors Affecting Buying Decision
4.4. Consumer Product Adoption
4.5. Observations & Recommendations
Chapter 5. Vegan Chocolate Confectionery Market: Product Analysis & Estimates
5.1. Product Analysis & Market Share, 2020 & 2028
5.3. Molded Bars
5.4. Chips & Bites
5.5. Truffles & Cups
Chapter 6. Vegan Chocolate Confectionery Market: Type Estimates & Trend Analysis
6.1. Type Movement Analysis & Market Share, 2020 & 2028
Chapter 7. Vegan Chocolate Confectionery Market: Distribution Channel Estimates & Trend Analysis
7.1. Distribution Channel Movement Analysis & Market Share, 2020 & 2028
Chapter 8. Vegan Chocolate Confectionery Market: Regional Estimates & Trend Analysis
8.1. Regional Movement Analysis & Market Share, 2020 & 2028
8.2. North America
8.4. Asia Pacific
8.5. Central & South America
8.6. Middle East & Africa
Chapter 9. Competitive Analysis
9.1. Key global players, recent developments & their impact on the industry
9.2. Key Company/Competition Categorization (Key innovators, Market leaders, Emerging players)
9.3. Vendor Landscape
Chapter 10. Company Profiles
Endangered Species Chocolate, LLC
Equal Exchange Coop
Chocoladefabriken Lindt & Sprungli AG
No Whey Chocolate
Montezuma's Direct Ltd.
Raaka Chocolate Ltd.
Theo Chocolate, Inc.
Rococo Chocolates London Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/tw9fo4
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