Vegan Chocolate Confectionery Market Size, Share and Trend Analysis Report by Product, Distribution Channel, Type, Region and Segment Forecast, 2021
Vegan Chocolate Confectionery Market Size, Share and Trend Analysis Report by Product (Molded Bars, Chips & Bites, Boxed), by Distribution Channel (Online, Offline), by Type ( black, milk), by region and segment forecast, 2021 – 2028
New York, September 23, 2021 (GLOBE NEWSWIRE) – Reportlinker.com Announces the Publication of the “Vegan Chocolate Confectionery Market Size, Share and Trend Analysis Report by Product, by Distribution Channel , By Type, By Region & Segment Forecast, 2021 – 2028 “- https://www.reportlinker.com/p06096538/?utm_source=GNW
Vegan Chocolate Confectionery Market Growth and Trends
The global vegan chocolate confectionery market size is expected to reach $ 1.41 billion by 2028, registering a CAGR of 14.8% during the forecast period. Growing awareness of cruelty to animals and increase in environmental protection campaigns are expected to be the major factors contributing to the growth of the market. Vegan chocolate candies are popular among consumers on a flexitarian or vegan diet or consumers with lactose intolerance and other food allergies.
The molded bars segment dominated the market and accounted for the highest revenue share in 2020. Chocolate bars are the most consumed form of chocolate in the world.
According to a study conducted by Google, the top five chocolates qualified as favorite chocolates in the world, based on their annual research, are sold in the form of bars.
The milk chocolate segment accounted for the largest share of the market in 2020 due to 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 per year. These market trends are expected to increase the demand for products.
The offline distribution channel accounted for the largest share of the global market in 2020. This segment is expected to retain its dominance throughout the forecast period due to the tendency of consumers to purchase groceries in supermarkets and retail stores. convenience stores, where they can physically examine the quality of the product. .
The global market is fragmented with the presence of a large number of global and regional players.
Highlights of the Vegan Chocolate Confectionery Market Report
• Asia-Pacific is expected to be the fastest growing regional market over the forecast years due to increasing cases of lactose intolerance and growing number of vegans in the region.
• Chips and Bites segment is expected to register the fastest CAGR from 2021-2028 due to the wide scope of chips and bites in high-end bakery products.
• North America dominated the global market with a revenue share of over 37% in 2020
• This growth was attributed to the growing demand for vegan and dairy-free products in North America.
Read the full report: https://www.reportlinker.com/p06096538/?utm_source=GNW
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