Vegan Chocolate Confectionery Market Players: Alter Eco, Equal Exchange Coop., Endorfin, And Goodio

 Vegan Chocolate Confectionery Industry Overview

The global vegan chocolate confectionery market size was valued at USD 467.2 million in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 14.8% from 2021 to 2028. Increasing acceptance of veganism among consumers, especially among millennials and the working population, has been fueling the product demand. The COVID-19 pandemic adversely affected the market due to lockdown imposed in most of the countries, which hampered the supply of cocoa across the globe and resulted in less production as well as restricted sales. Artisanal and high-end chocolates, in particular, witnessed low demand. On the other hand, the stockpiling and sudden surge in the demand for chocolates by consumers may support the market growth.

Gather more insights about the market drivers, restraints and growth of the Global Vegan Chocolate Confectionery Market

Moreover, the growing awareness regarding animal cruelty and the rise in environmental protection campaigns are supporting the market growth. The rising cases of lactose intolerance and other food-related allergies among children and adults have changed the food preferences of consumers in recent years. According to data provided by Food tolerance Network, in 2019, around 70% of the population of the world had lactose intolerance.

The ongoing scenario has fueled the demand for vegan products at the global level. Over the past few years, people across the globe have witnessed several food allergies and lactose intolerance due to dairy-based foods including milk, cream, cheese, and yogurt. Being intolerant to dairy can result in various types of allergies, such as anaphylaxis, milk protein-induced entropy, and protein-induced gastroenteritis. Due to such health effects, the demand for vegan products is on the rise. Thus, the growing vegan population is estimated to drive the market growth over the forecast period. According to an article published in Forbes magazine, in 2018, the vegan population in the U.S. increased by 600% from 2014 to 2017. Such trends will offer new growth opportunities to the market over the forecast period.

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Vegan Chocolate Confectionery Industry Segmentation

Grand View Research has segmented the global vegan chocolate confectionery market report on the basis of product, type, distribution channel, and region:

• Product Outlook (Volume, Thousand Units; Revenue, USD Million, 2016 - 2028)
  • Boxed
  • Molded Bars
  • Chips & Bites
  • Truffles & Cups
• Type Outlook (Volume, Thousand Units; Revenue, USD Million, 2016 - 2028)
  • Milk
  • Dark
  • White
• Distribution Channel Outlook (Volume, Thousand Units; Revenue, USD Million, 2016 - 2028)
  • Online
  • Offline
• Regional Outlook (Volume, Thousand Units; Revenue, USD Million, 2016 - 2028)

 

• North America
• Europe
• Asia Pacific
• Central & South America
• Middle East & Africa

 

Market Share Insights:

• September 2020: Lindt & Sprungli inaugurated the Lindt Home of Chocolate in Switzerland. The facility showcases a unique chocolate competence center, attractive museum, and open-view production plant.

 

Key Companies profiled:

Some of the key players operating in the global vegan chocolate confectionery market include:

• Alter Eco
• Equal Exchange Coop.
• Endorfin
• Chocoladefabriken Lindt & Sprüngli AG
• MondelÄ“z International
• Goodio
• Montezuma’s Direct Ltd.
• Evolved

 

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

 

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