The North America Vegan Chocolate Confectionery Market would witness market growth of 11.5% CAGR during the forecast period (2021-2027).
The consumers are following the culture of a plant-based diet which is broadening the scope of the product around the world. Additionally, there is an increase in the number of lactose-intolerant people who are growing along with the consumer who is preferring a vegan diet, which is surging the market growth around the world. The foodservice sectors are integrating plant-based products in their menus leading to a surge in market growth.
Besides this, the market growth of the product is also propelling due to the growth in the number of campaigns and awareness regarding environmental protection and cruelty against animals. Moreover, nowadays children and adults are facing problems like food-related allergies and lactose intolerance, which has changed their preferences in the past few years.
North America would witness the surge in vegan chocolate confectionery as there is a rise in the vegan population in Canada and U.S. Additionally, this region will witness huge growth in the market size due to the existing reputed product manufacturers in the sub-continent and the launching of new food ideas accompanying marketability of vegan diet among baby boomers and millennial population. According to a report, in the U.S., there was a huge increase in the sales of vegan foods in the last few years. Moreover, there is almost more than double increase in the vegan trends, which will fuel the market revenue in this region over the forecast period.
The US market dominated the North America Dark Chocolate Market by Country in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $95,643.4 Thousands by 2027. The Canada market is experiencing a CAGR of 13.9% during (2021-2027). Additionally, The Mexico market would witness a CAGR of 12.9% 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 U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Vegan Chocolate Confectionery Market is Estimated to Reach USD 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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