BRICS Vegan Chocolate Confectionery Market (Product - Molded Bars, Chips and Bites, Truffles and Cups, and Others; Type - Dark, and Milk; Distribution Channel - Online, and Offline): Industry Analysis, Trends, Size, Share and Forecasts to 2027

A recent report ongoing by Infinium Global Research on the vegan chocolate confectionery market provides in-depth analysis of segments and sub-segments in the BRICS as well as the regional vegan chocolate confectionery market. The study also highlights the impact of drivers, restraints, and macro indicators on the BRICS and regional vegan chocolate confectionery market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the BRICS vegan chocolate confectionery market. According to the report, the BRICS vegan chocolate confectionery market is projected to grow at a significant CAGR over the forecast period of 2021-2027.

Market Insight

As cocoa beans are derived from plants, chocolate is vegan in and of itself. Vegan chocolate confectionery goods do not contain dairy ingredients derived from animals; instead, vegan chocolate confectionery products are made with substitutes for dairy ingredients. As the vegan trend has taken hold, vegan chocolate confectionery products are rapidly gaining popularity. Various varieties of vegan chocolate confectionery goods are being developed by a number of market companies. Vegan chocolate confectionery foods are being developed by several confectionery firms in a variety of areas. Vegan chocolate candy is growing in popularity, and the business is rapidly expanding. Vegan chocolate candy is expected to become a common element of people's eating habits in the not-too-distant future.

In BRICS countries veganism is growing at a steady pace which is primarily driving the growth of the market. This growing veganism is expected to boost the demand for vegan chocolate confectionery products. Veganism is growing at a steady pace in countries such as India and China which are also the largest consumers of confectionery goods among the BRICS countries. The transition from vegetarian to vegan is happening in India which has one of the largest vegetarian populations in BRICS countries and the world. The consumption of bland based foods in BRICS countries has increased severalfold as environmental awareness is growing at a rapid pace. This growing consumption is expected to boost the demand for plant-based foods in BRICS countries. Though vegan chocolate confectionery products are highly-priced as compared to their conventional counterparts and this may hamper the growth of the market. New opportunities are expected to rise as the market players are focusing on investing in finding new vegan ingredients.

China is expected to be the largest vegan chocolate confectionery market in the BRICS region. China has one of the largest vegan chocolate confectionery industries in the BRICS countries which is majorly dominated by foreign companies. Foreign players such as Mars Incorporated, Mondelez International, and The Hershey’s Company offer their lineup of vegan chocolate confectionery products in China. Vegan confectionery products are rapidly gaining popularity in China as the vegan population is growing steadily in the country. Also, the growing awareness about the environment has increased the demand for plant-based food products in China. These two factors particularly have boosted the growth of the market in China. Other factors such as high per capita income among BRICS countries, large chains of hypermarkets, supermarkets, retail stores, chocolate stores, and shops have also aided the growth of the market in China. India is expected to be the second-largest region in the market. There are many local players who have started offering vegan chocolate at the local level and only this factor itself cemented the strong foundation of the market in India.

Segment Covered

The report on BRICS vegan chocolate confectionery market covers segments such as product, type, and distribution channel. On the basis of product, the sub-markets include molded bars, chips and bites, truffles and cups, and others. On the basis of type, the sub-markets include dark, and milk. On the basis of distribution channel, the sub-markets include online, and offline.

Companies Profiled:

The report provides profiles of the companies in the market such as Mars Incorporated, Mondelez International, Alter Eco, Hu Master Holdings, LLC, Pascati, Chocoladefabriken Lindt & Sprungli AG, Pascha Chocolate Co., Nu Company, Super Vegan, and Mason & Co.

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of BRICS vegan chocolate confectionery market. Moreover, the study highlights current market trends and provides forecast from 2021-2027. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.