The Europe Vegan Chocolate Confectionery Market would witness market growth of 11.9% CAGR during the forecast period (2021-2027).
A surge in the number of environmental protection campaigns and awareness about cruelty against animals are estimated to be the main aspects to give rise to the growth of the vegan chocolate confectionery market. The popularity of vegan chocolate confectionary is more among the population that follow vegan diet or flexitarian or having lactose intolerance & other food allergies. People are more conscious about their health and this trend is boosting the demand for vegan products. Therefore, it is anticipated that the rising vegan population will propel the demand for vegan products in the upcoming years.
The love for chocolate is all pervasive around the world. The European region is no exception to this fact. Many new researches have indicated that the graph of consumption of vegan chocolate in the region is constantly increasing. This massive surge is credited to the holiday-themed chocolates, and various festivals and events taking place in the Europe. In addition to it, the trend of including the plant-based ingredients in the chocolate sector is emerging across the Europe. In response to such a trend, manufacturers are constantly adapting to this trend by replacing milk with nut-or-grain extracted milk.
Owing to the higher preferences toward the vegan chocolate around the world, vegans now can enjoy their festivals and other events with this category of chocolates. Furthermore, consumers in the region are highly going towards veganism due to the growing concerns about the environment and fulfilling the needs & requirements sustainably. These factors are likely to accelerate the demand of the product across the key countries of the region, thereby boosting the growth of the regional vegan chocolate confectionery market.
The Germany market dominated the Europe Boxed Market by Country in 2020, thereby, achieving a market value of $11,703.3 Thousands by 2027. The UK market is exhibiting a CAGR of 11.9% during (2021-2027). Additionally, The France market is poised to grow at a CAGR of 14.3% during (2021-2027).
Based on Type, the market is segmented into Milk Chocolate, Dark Chocolate and White Chocolate. Based on Product, the market is segmented into Molded Bars, Chips & Bites, Boxed and Truffles & Cups. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Vegan Chocolate Confectionery Market Size will Hit $1 Billion by 2027, at a CAGR of 12.3%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Mondelez International, Inc., Equal Exchange Coop, Endorfin Foods, Raaka Chocolate Ltd., Goodio, No Whey Chocolate, Theo Chocolate, Inc., Endangered Species Chocolate, LLC, Alter Eco, Inc., and Taza Chocolate
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