Published Date: 18-Aug-2021
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According to a new report Global Vegan Chocolate Confectionery Market, published by KBV research, The Global Vegan Chocolate Confectionery Market size is expected to reach $1 billion by 2027, rising at a market growth of 12.3% CAGR during the forecast period.
The bites and chips segment would be the fastest-growing segment over the forecast period. Bites and chips are mainly used for cooking purposes. The growing demand for top-quality bakery products for several occasions including festivals is fueling the demand for bites and chips. During the pandemic, all restaurants and bakeries were closed, and during that phase, people started cooking extraordinary and occasional dishes at home in order to satisfy themselves. The millennials and centennials are choosing the product more and more.
It is estimated that vegan dark chocolate will be the growing product segment, over the forecast period. In the recent years, there is a rise in awareness about many health benefits of dark chocolate due to which people’s preferences are changing, giving rise to the popularity of the product, especially in Asian countries.
The North America market dominated the Global Vegan Chocolate Confectionery Market by Region in 2020, growing at a CAGR of 11.5 % during the forecast period. The Europe market is experiencing a CAGR of 11.9% during (2021-2027). Additionally, The Asia Pacific market is estimated to grow at a CAGR of 13.7% during (2021-2027).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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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