South Africa Vegan Chocolate Confectionery Market Size & Outlook
South Africa vegan chocolate confectionery market, 2016-2028 (US$M)
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South Africa vegan chocolate confectionery market highlights
- The South Africa vegan chocolate confectionery market generated a revenue of USD 1.6 million in 2021 and is expected to reach USD 4.3 million by 2028.
- The South Africa market is expected to grow at a CAGR of 14.9% 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.
Vegan chocolate confectionery market data book summary
| Market revenue in 2021 | USD 1.6 million |
| Market revenue in 2028 | USD 4.3 million |
| Growth rate | 14.9% (CAGR from 2021 to 2028) |
| Largest segment | Molded bars |
| Fastest growing segment | Chips & Bites |
| Historical data | 2016 - 2020 |
| Base year | 2021 |
| Forecast period | 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, South Africa accounted for 0.3% of the global vegan chocolate confectionery market in 2021.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2028.
- In Middle East & Africa, Saudi Arabia vegan chocolate confectionery market is projected to lead the regional market in terms of revenue in 2028.
- Israel is the fastest growing regional market in Middle East & Africa and is projected to reach USD 2.1 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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South Africa 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 43.75% in 2021. Horizon Databook has segmented the South Africa 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.
Veganism is one of the fastest-growing food trends in the country. Consumers are increasingly shifting toward a vegan diet owing to the rising prevalence of lactose intolerance as well as the increasing awareness of animal cruelty.
According to the data published in Google Trends report, South Africa ranked 14th in the global search of word “vegan” and is the only country in Africa with the highest number of “vegan” searches. These market trends are expected to drive the country’s vegan chocolate confectionery market growth over the forecast period.
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Target buyers of South Africa 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 country-level data and insights on the South Africa vegan chocolate confectionery market, including forecasts for subscribers. This country databook contains high-level insights into South Africa vegan chocolate confectionery market from 2016 to 2028, including revenue numbers, major trends, and company profiles.
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South Africa vegan chocolate confectionery market size, by type, 2016-2028 (US$M)
South Africa Vegan Chocolate Confectionery Market Share, 2021 & 2028 (US$M)
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