Dublin, 16 Feb. 2022 (GLOBE NEWSWIRE) — The “Global Vegan Chocolate Confectionery Market By Type (Milk Chocolate, Dark Chocolate, and White Chocolate), By Product (Molded Bars, Chips, and Bites, Boxed, and Truffles and Cups), By Regional Outlook, COVID-19 Impact Analysis Report and Forecast, 2021 – 2027″ has been added to from ResearchAndMarkets.com offer.
The global vegan chocolate confectionery market size is expected to reach USD 1 billion by 2027, growing the market at a CAGR of 12.3% during the forecast period.
Dairy products like milk fat, whey, casein, and milk solids are not used in vegan chocolate because this product does not contain any animal-derived ingredients. Vegan chocolate is made from components derived from plants. They contain less fat and cholesterol than normal chocolates. The vegan food culture is growing in the established countries which is also contributing to the growth of the vegan chocolate market.
Millennials and the working population are strongly embracing vegan culture, which is expected to increase demand for the product. A number of countries have been hit hard by the COVID-19 pandemic, due to which the supply of cocoa has been hampered worldwide. This decreased the production of cocoa as well as the drop in its sales. Additionally, there has been a decline in demand for premium and artisanal chocolates. On the other hand, the chocolate market growth seems to be on the rise as there is a growth in consumer demand.
COVID-19 Impact Analysis
The COVID-19 pandemic has had a serious impact on customer buying habits. They prefer to stock nutritious, energy-efficient, private label and inexpensive products. The coronavirus outbreak has hampered the supply chain which has affected the manufacturing of vegan chocolate products, mainly in artisanal and small chocolate businesses.
During the pandemic, most people preferred to store essentials to survive. Chocolate may not be on the essentials list; however, it is a rewarding and pleasure-seeking item for consumers. In Europe, supermarkets and other grocery stores were out of stock as most chocolates were sold out. Thanks to the e-commerce facilities, these markets remain open, which helps in a quick recovery of the market. The vegan chocolate confectionery market is estimated to weather the current lockdowns without suffering heavy losses.
Based on type, the market is segmented into milk chocolate, dark chocolate, and white chocolate. The milk segment has acquired the maximum revenue share of the global vegan chocolate confectionery market in 2020. Top companies are now introducing their famous chocolate confectioneries into the vegan chocolate category. This action plan will help the company to get the appreciation of the customers all over the world and also lead to the increase in the sale of products.
On the basis of product, the market is segmented into molded bars, chips and bites, canned and truffles and cups. Cast bar segment dominated the market in 2020. The segment is expected to show the same trend during the forecast period. Bar chocolate is considered the most consumed category of chocolate in the world. Its convenient size has made it popular with consumers. Based on annual research by Google, the best chocolates titled favorite chocolate in the world are sold in bar form.
Based on regions, the market is segmented into North America, Europe, Asia-Pacific and Latin America, Middle East & Africa. North America got the maximum revenue share in 2020 and is expected to register a significant growth rate during the forecast period. The growing vegan population is expected to drive the market growth in the region. Asia-Pacific is expected to see lucrative growth opportunities over the forecast period. Asia is the densely populated continent of the world with the largest population and hence it has a positive impact on food culture across the world.
The market research report covers the analysis of major market players. Key companies profiled in the report are Mondelez International, Inc., Equal Exchange Coop, Endorfin Foods, Raaka Chocolate Ltd., Goodio, No Whey Chocolate, Theo Chocolate, Inc., Endangered Species Chocolate, LLC, Alter Eco, Inc. and Taza chocolate.
Main topics covered:
Chapter 1. Market Scope and Methodology
Chapter 4. Global Vegan Chocolate Confectionery Market by Product
4.1 Global Molded Bars Market by Region
4.2 Global Chips and Bites Market by Region
4.3 Global Canned Market by Region
4.4 Global Truffles and Cups Market by Region
Chapter 5. Global Vegan Chocolate Confectionery Market by Region
Chapter 6. Business Profiles
6.1 Mondelez International, Inc.
6.1.1 Presentation of the company
6.1.2 Financial analysis
6.1.3 Regional Analysis
6.1.4 Research & Development expenses
6.1.5 Strategies and recent developments:
18.104.22.168 Partnerships, collaborations and agreements:
22.214.171.124 Acquisition and merger:
6.2 Cooperative equal exchange
6.2.1 Presentation of the company
1.1.1 Financial analysis
6.2.2 Segmental analysis
6.3 Endorfine Foods
6.3.1 Presentation of the company
6.4 Raaka Chocolate Ltd.
6.4.1 Presentation of the company
6.4.2 Strategies and recent developments:
126.96.36.199 Product launches and product extensions:
6.5.1 Presentation of the company
6.5.2 Strategies and recent developments:
188.8.131.52 Partnerships, collaborations and agreements:
184.108.40.206 Product launches and product extensions:
6.6 Chocolate without whey
6.6.1 Presentation of the company
6.7 Theo Chocolat, Inc.
6.7.1 Presentation of the company
6.7.2 Strategies and recent developments:
220.127.116.11 Product launches and product extensions:
6.8 Endangered Species Chocolate, LLC
6.8.1 Company overview
6.8.2 Strategies and recent developments:
18.104.22.168 Product launches and product extensions:
6.9 Alter Eco, Inc.
6.9.1 Company Overview
6.9.2 Strategies and recent developments:
22.214.171.124 Product launches and product extensions:
6.10. Taza Chocolate
6.10.1 Company Overview
For more information about this report visit https://www.researchandmarkets.com/r/urygq7
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