Asia Pacific Vegan Chocolate Confectionery Market Size & Outlook
Asia Pacific vegan chocolate confectionery market, 2016-2028 (US$M)
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Asia Pacific vegan chocolate confectionery market highlights
- The Asia Pacific vegan chocolate confectionery market generated a revenue of USD 128.3 million in 2021.
- The market is expected to grow at a CAGR of 15.7% from 2022 to 2028.
- In terms of segment, molded bars was the largest revenue generating type in 2021.
- Chips & Bites is the most lucrative type segment registering the fastest growth during the forecast period.
- Country-wise, Australia is expected to register the highest CAGR from 2022 to 2028.
Asia Pacific data book summary
| Market revenue in 2021 | USD 128.3 million |
| Market revenue in 2028 | USD 355.8 million |
| Growth rate | 15.7% (CAGR from 2021 to 2028) |
| Largest segment | Molded bars |
| Fastest growing segment | Chips & Bites |
| Historical data covered | 2016 - 2020 |
| Base year for estimation | 2021 |
| Forecast period covered | 2022 - 2028 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Molded Bars, Boxed, Chips & Bites, Truffles & Cups |
| Key market players worldwide | Chocoladefabriken Lindt & Spruengli AG, Mondelez International Inc Class A, Alter Eco, Equal Exchange, Goodio.fi, Montezuma's Chocolates, Evolved Foods |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 24.0% of the global vegan chocolate confectionery market in 2021.
- Globally, North America is projected to lead the regional market in terms of revenue in 2028.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 355.8 million by 2028.
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Vegan Chocolate Confectionery Market Scope
Vegan Chocolate Confectionery Market Companies
| Name | Profile | # Employees | HQ | Website |
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Asia Pacific vegan chocolate confectionery market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to vegan chocolate confectionery market will help companies and investors design strategic landscapes.
Molded bars was the largest segment with a revenue share of 43.02% in 2021. Horizon Databook has segmented the Asia Pacific vegan chocolate confectionery market based on molded bars, boxed, chips & bites, truffles & cups covering the revenue growth of each sub-segment from 2016 to 2028.
Asia is the most populous continent in the world with more than half (estimated 60%) of the world’s population. This gives the region an upper hand when it comes to influencing food trends around the world. Countries such as Taipei, Honk Kong, Australia, Japan, China, Singapore, Sri Lanka, South Korea, and India are driving the market for vegan products.
Although India has always been a hub for vegetarians, the rising prevalence of lactose intolerance in the country is further propelling the demand for vegan and dairy-free products, including chocolate confectionery.
According to a report published in The Times of India in May 2020, 60% to 65% of the population in India is lactose intolerant. Such high prevalence of food-related ailments is fueling the need for vegan alternatives to conventional foods, including chocolate confectionery.
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Target buyers of Asia Pacific vegan chocolate confectionery market databook
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Our clientele includes a mix of vegan chocolate confectionery market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of continent-level data and insights on the Asia Pacific vegan chocolate confectionery market, including forecasts for subscribers. This continent databook contains high-level insights into Asia Pacific vegan chocolate confectionery market from 2016 to 2028, including revenue numbers, major trends, and company profiles.
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Asia Pacific vegan chocolate confectionery market size, by country, 2016-2028 (US$M)
Asia Pacific Vegan Chocolate Confectionery Market Share, 2021 & 2028 (US$M)
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