Vegan Chocolate Market Definition
Vegan chocolate consists of ingredients like cacao, cocoa butter, sugar, vanilla, and other things in which no animal obtained products are used. The cacao content of 50% or more than that is used in vegan chocolate and indicates higher chocolate content. It can be made by adding nuts and dry fruits to enhance its flavors and texture. The chocolates are available in a form of plates or bars in supermarkets, online stores, convenience stores, etc. and it is used in bakery products, confectionery event in cosmetics products.
The market study is broken down by Type (Plate and Bar), by Application (Direct Consumption, Cake, Icecreams, Cosmetic Products and Others) and major geographies with country level break-up.
Alter Eco (United States), Chocoladefabriken Lindt & Sprüngli AG (Switzerland), Mondelez International (Cadbury) (United Kingdom), Lulu's Chocolate (United States), Barry Callebaut (Switzerland), Chocolove (United States), Chocolate Inspirations (United States), Theo Chocolate (United States), Purdys Chocolatier (Canada) and Ecofina GMBH (iChoc) (Germany) are some of the key players that are part of study coverage.
AdvanceMarketAnalytics has segmented the market of Global Vegan Chocolate market by Type, Application and Region.
On the basis of geography, the market of Vegan Chocolate has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Nature, the sub-segment i.e. Organic will boost the Vegan Chocolate market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Distribution Channel, the sub-segment i.e. Supermarket will boost the Vegan Chocolate market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Ingredients, the sub-segment i.e. Cocoa will boost the Vegan Chocolate market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Leaders and their expansionary development strategies
On 24th February 2020, Cadbury is planning to release a new version of its iconic Cadbury Dairy Milk chocolate bar that will be vegan. The company has not confirmed a launch date for the plant-based chocolate, but it has been testing the concept for a while. Cadbury, which is owned by Mondelez International, wants to meet the rising demand for dairy-free candy and snacks.
On 13th August 2020, Leading Swiss chocolatier Lindt & Sprüngli, commonly referred to as just Lindt, is launching its first-ever range of vegan chocolate bars. The plant milk-based chocolates will debut in Germany in November this year and the range will be available in a cookie, hazelnut, and salted caramel flavors respectively. and On 27th May 2020, The Barry Callebaut Group, a manufacturer of chocolate and cocoa products, has signed an agreement to acquire GKC Foods (Australia), a producer of chocolate, coatings, and fillings, serving many consumer chocolate brands in Australia and New Zealand. This strategic acquisition establishes Barry Callebaut’s direct presence and manufacturing capacity in the growing Australian market.
- Increasing Consumption of Vegan Chocolate Among Vegan Population
- Use of Vegan Chocolate in the Bakery Products
- Growing Demand for the Health Food Products and Chocolate
- Increasing Application of the Chocolates in the Various Confectionery and other Products
- Surging Demand for the Vegan Chocolates Among Developing Nations who are Becoming More Health Conscious
- Allergy-Related Issues with the Consumption of Vegan Chocolate to some People
- New Entrants in the Vegan Chocolate Market with Low-Quality Fake Products
Key Target AudienceVegan Chocolate Manufacturers, Vegan Chocolate International Traders, Vegan Chocolate Distributors and Suppliers, Research and Development Institutes, Potential Investors, Regulatory Bodies, Upstream and Downstream Buyers and Others
About ApproachDuring this study the evaluation and validation of the market size is done through various sources including primary and secondary analysis. AMA Research & Media follows industrial and regulatory standards such as NAICS/SIC/ICB/TRCB, to have the better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with purpose to understand company’s positioning regarding market value, volume and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders etc. and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.
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Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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