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Vegan Chocolate Market to Advance at CAGR of 10.5% during 2022-2032, Notes TMR Study
Preference toward online retailing among consumers will be pivotal in boosting the market share for vegan chocolate during the forecast period (2022–2032). The segment is projected to advance at CAGR of 11.7% during the period, estimated the authors of the TMR study on the vegan chocolate market. With veganism attracting increased attention as a healthy diet globally in recent decades, the future market outlook for vegan chocolate is likely to witness new streams of revenues.
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Europe held a major share of the global vegan chocolate market in 2022, estimated at 36.4%. The opportunities in the Europe market are expected to be numerous in the near future. The lucrativeness can be attributed to heightened focus on animal welfare, awareness of the health benefits of dark chocolates, and growing popularity of plant-based products.
South Asia is another lucrative region, with projected CAGR of 11.5% during the forecast period.
The authors of the TMR study on the vegan chocolate market found that the strategic dynamics is characterized by high degree of consolidation of shares. A few large vendors control most of the market shares. Some of the key players in vegan chocolate market are Taza Chocolate, Creative Nature Ltd., Dylan's Candy bar, Plamil Foods Ltd., Sjaak's, Alter Eco , Nestle, and Barry Callebaut .
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Vegan Cheese Market - Vegan Cheese Market is likely to register a CAGR of 10% during the forecast period and is anticipated to reach a vegan cheese market share of US$ 7 Bn By 2030
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