Increasing trend of wellness and health in food and beverages
industry had led an upsurge in demand for the vegan chocolate market globally.
Apart from that, the key benefit associated with the vegan chocolate products
will continue to draw high demand across different industrial verticals. Being
used as the alternative to conventional chocolate by the lactose consumers will
rev-up the demand for the vegan chocolate products positively. According to
recent published report by Trends Market Research, the global vegan
chocolate market will register healthy growth over the forecast period,
2021 -2028.
Factor Governing the
Adoption of Vegan chocolate products
Increasing awareness towards animal cruelty in the meat and
dairy industry are the key factor which effectively propels the growth of the
global vegan chocolate market. Vegan chocolate products is considered to be
healthier than the conventional food by the consumers. Increasing awareness
towards the greener environment is continue to serve as the key reason for
widespread adoptions. According to the researchers, the animal agriculture
industry sector are responsible for the increase in the emission of global
greenhouse gases as the animal excrements emits gas such as methane, nitrous
oxide, which poised the air and also contribute to the global warming and these
factors are responsible for the robust development of the global vegan
chocolate market. Such factors are fuelling the production of vegan chocolate
products, and will provide long-term growth prospects to the industries. Also, Introduction
of the new different vegan chocolate flavor is another key feature fuelling the
growth of the global vegan chocolate products in multiple industrial
applications.
While these product have the capabilities in driving the
overall operational efficiency of an industrial applications. Whereas, high
cost associated with the vegan chocolate product can hamper the growth of the
global vegan chocolate market. Compare to the conventional chocolate, the
purchasing cost of the vegan chocolate products are high, which is observed as
the key restraints responsible for the expansion of the global vegan chocolate
market. Through 2028, the
global vegan chocolate market is poised to witness emergence of revenue
generating opportunities from the developing markets.
Regional Analysis
The study is further analyzing the global vegan chocolate
market on the basis of product type, the channel of distribution, application
and their usage in the region. Thereby, the vegan chocolate segmentation
includes on the basis of its applications such as preserved food, beverages,
confectionary and bakery. The key sub-segmentation of bakery includes, vegan
chocolate, bread and cookies. While, confectionary sub-segmentation of products
includes sweets, candies, and vegan chocolate and beverage sub-segmentation
includes products like vegan chocolate shake. An ongoing regional analysis
being developed in the report reveals Europe region as the largest market for
the vegan chocolate market followed by North America. Apart from these regions
majority of the manufacture in the global market for vegan chocolate market are
based in countries such as Africa, Middle East, Latin America, and Asia
Pacific. The study is analysing a range of macro- and micro-economic factors
which will be influencing the growth of the global market for vegan chocolate
for the coming years.
Vegan Chocolate
Market: Manufacturing Insights
Some of the key players in the global vegan chocolate
market, that are being profiled in the study includes, Divine Chocolate Limited,
The Hershey Company, The WhiteWave Foods Company, Ludwig Weinrich GmbH &
Co. KG., and Newmans Own Inc.
