South Korea Vegan Chocolate Confectionery Market Size & Outlook
South Korea vegan chocolate confectionery market, 2016-2028 (US$M)
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South Korea vegan chocolate confectionery market highlights
- The South Korea vegan chocolate confectionery market generated a revenue of USD 10.2 million in 2021 and is expected to reach USD 29.1 million by 2028.
- The South Korea market is expected to grow at a CAGR of 16.1% from 2022 to 2028.
- In terms of segment, molded bars was the largest revenue generating type in 2021.
- Truffles & Cups 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 10.2 million |
| Market revenue in 2028 | USD 29.1 million |
| Growth rate | 16.1% (CAGR from 2021 to 2028) |
| Largest segment | Molded bars |
| Fastest growing segment | Truffles & Cups |
| 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 Korea accounted for 1.9% 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 Asia Pacific, China vegan chocolate confectionery market is projected to lead the regional market in terms of revenue in 2028.
- Australia is the fastest growing regional market in Asia Pacific and is projected to reach USD 58.5 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 Korea 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 43.14% in 2021. Horizon Databook has segmented the South Korea 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.
South Korea has conventionally been quite plant-based when it comes to food, but with rapid development and urbanization in the country, the demand for meat has increased over the years. However, the current generation of young individuals has shown increased awareness regarding animal cruelty, animal rights, and environmental protection.
Consumers are also increasingly inclining toward healthier lifestyles by adopting vegan or vegetarian diets. For instance, according to data released by the Korea Vegetarian Union (KVU), in July 2020, there were about 500,000 strict vegans living in South Korea. Such market trends are anticipated to pave the way for the vegan chocolate confectionery market over the forecast period.
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Target buyers of South Korea 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 Korea vegan chocolate confectionery market, including forecasts for subscribers. This country databook contains high-level insights into South Korea vegan chocolate confectionery market from 2016 to 2028, including revenue numbers, major trends, and company profiles.
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South Korea vegan chocolate confectionery market size, by type, 2016-2028 (US$M)
South Korea Vegan Chocolate Confectionery Market Share, 2021 & 2028 (US$M)
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