What is Vegan Chocolate Confectionery?
In recent times, vegan chocolate confectionery will create many lucrative opportunities as with the change in consumer preferences. Consumers have become more aware about animal cruelty and demanding chocolate confectioneries with the high-quality plant based ingredients. However, in past decade the population of vegans have grown rapidly, which is expected to boost the market in nearer future.
The market study is broken down by Type (Milk Chocolate, Dark Chocolate and White Chocolate), by Application (Bakery Products, Bars, Candy & Sweets and Others) and major geographies with country level break-up.
The rising number of players expected to enter the global market is predicted to enhance the competition level as well as encourage the growth of the overall market in the near future. Players are anticipated to focus on the development of new compounds, which is likely to encourage the growth of the global market throughout the forecast period. Analysts at AMA Research estimates that Vendors from United States will contribute to the maximum growth of Global Vegan Chocolate Confectionery market throughout the predicted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Mondelez International (United States), Moo Free (United Kingdom), Marks & Spencer (United Kingdom), Mars (United Kingdom), Ritter Sport (Germany), Katjes (Germany), Alter Eco (United States), Endorfin Foods (United States), Goodio (Finland), Evolved Chocolate (United States) and Nestle (Switzerland) are some of the key players that are part of study coverage.
AdvanceMarketAnalytics has segmented the market of Global Vegan Chocolate Confectionery market by Type, Application and Region.
On the basis of geography, the market of Vegan Chocolate Confectionery 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 Distribution Channel, the sub-segment i.e. Online will boost the Vegan Chocolate Confectionery market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Leaders and their expansionary development strategies
In August 2020, Barry Callebaut a leading manufacturer of chocolate and cocoa products acquired GKC Foods. GKC Foods Manufacturers a wide range of products, including organic and vegan chocolate. The acquisition will help Berry Callebaut to establish a direct presence and manufacturing capacity in the growing Australian market, as well as leverage its gourmet and specialties business in Australia and New Zealand.
In June 2021, Nestle launched a new vegan KitKat with the aim of helping people to embrace more plant-based food, with options across its wide range of food and beverages, including dairy-free coffee mixes and Carnation Vegan condensed milk. The new KitKat V features smooth chocolate blended with a rice-based alternative to milk that beautifully balances the crisp wafer.
- Increasing Use of Dark Chocolates Due to Its Benefits in Weight Loss & Management
- Increasing Demand for Chocolates and Chocolate Confectioneries as a Treat and Taste
- Consumers’ Preference Towards Dairy-free and Lactose-free Products
- Growing Need of Plant-based Chocolate Confectioneries with Different Taste Experience
- Availability of High Sugar in Confectionary Items and Cavity Problems Due to Chocolate Will Create Hurdles for The Market
- Penetration of Big Brands in the Vegan Chocolates Can Increase Competitiveness
- High Cost of Vegan Chocolates as It Contains High-quality Ingredients
Key Target AudienceNew Entrants/Investors, Analysts and Strategic Business Planners, Vegan Chocolate Confectionery Manufacturers, Suppliers and Distributors of Vegan Chocolate Confectionery, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations, End-Users and Others
About ApproachTo evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows 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 companys 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.
Frequently Asked Questions (FAQ):
1. What all players are profiled in the study?
The standard version of the report profiles players such as Mondelez International (United States), Moo Free (United Kingdom), Marks & Spencer (United Kingdom), Mars (United Kingdom), Ritter Sport (Germany), Katjes (Germany), Alter Eco (United States), Endorfin Foods (United States), Goodio (Finland), Evolved Chocolate (United States) and Nestle (Switzerland) etc.
2. Can we have customized study for Vegan Chocolate Confectionery Market?
The Study can be customized subject to feasibility and data availability. Please connect with our sales representative for further information.
3. What would be the Market Size of Vegan Chocolate Confectionery Market by 2026?
Analysts at AMA estimates Vegan Chocolate Confectionery Market to reach USD Million by 2026.