Vegan Belgian Chocolate Market Segmented By Dark Chocolates, Milk Chocolates/White Chocolates Type in Food Processing Industry, Foodservice Industry, Retail/Household
Industry: Food and Beverages
Format: PPT*, PDF, EXCEL
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Report Type: Ongoing
Report ID: PMRREP32858
According to the latest research by Persistence Market Research, the global Vegan Belgian chocolate market is to witness steady growth during 2021-2031. Demand for Belgian chocolate will witness retrieval in short term, with significant growth. The wide consumption of chocolates in various applications in the food and beverages industry drives the market with a significant CAGR.
The vegan diet movement has been led by consumers owing to the benefits of consuming vegan products along with growing awareness about preserving animals. With the awareness created by animal rights organizations as well as animal lovers, change has been witnessed in customers’ buying behavior.
Vegan food products are considered to be healthier than conventional food and presents a reduced risk of diabetes. Consumers today are concerned about what they include in their diet, from the perspective of their health.
Besides, rising incidence of various lifestyle conditions such as obesity has led to increased prevalence of cardiovascular diseases and diabetes, though consumption of chocolates in precise amount may be beneficial on such diseases.
Belgian chocolate are gaining traction among health-conscious consumers who prefer more nutrient-rich food products as it provides the ample source of mineral such as zinc, magnesium and iron. The Belgian dark chocolates consisted with cocoa, highly accommodates antioxidants such as flavonoids which are considered for health benefits.
Compared with other chocolates, Belgian chocolates are more enriched with cocoa phenols which helps to reduce the blood pressure though healthy food replacement is not recommended by the experts. Abovementioned health benefits are further increasing the demand for vegan Belgian chocolates market.
Consumers are becoming more conscious about their health and wellbeing and are seeking change in their diets to meet the daily needs. Consumers are also turning to ingredients that benefit health and immunity more importantly antioxidants and minerals. An increased focus on gut health and alternate protein sources are among the major trends affecting the global food industry.
The consumer’s preference towards less processed and rich minerals food products is expected to boost the global vegan Belgian chocolate market. Broad-minded customers of health and wellness are constantly shaping and altering the culture of the food & beverage industry which drives the growth for respected market.
Consumers across the globe are being informed about the benefits of naturally sourced ingredients, thus consumers are increasingly opting for food that include specific vegan ingredient. Moreover, the consumer's looks after health benefits after consumption of every food items.
Food which evolves antioxidants and other such benefits is expected to play a vital role in the food purchasing decision of the consumer. Since vegan Belgian chocolates are nutritionally enriched and rich in antioxidants the demand for Belgian chocolates expected to rise in near future.
The consumer in the Europe shifting towards more natural ingredient-based food products which creates the opportunity for the European manufacturers to increase their presence in the market. Over the past few years, consumers have developed a healthy lifestyle which is the key factor impacting the growth of vegan products including vegan chocolates in European region.
Customers' taste habits are evolving quicker than ever before. Reflecting into consumers increasing interest for delicious as well as healthy and convenient food products. Consumers are upgrading themselves to a new standard of living by the increase in disposable income.
Additionally, this influences their dietary habits as well and results in the more consumption of vegan Belgian chocolates which are highly beneficial for health if consumed in the right amount. Looking at the numbers, Belgium accounted for the second largest exporter of the chocolates which makes the Belgium chocolates famous for its quality and reflects the tradition of the region.
Consumer’s preference has gradually shifted from consuming the conventional food to the vegan food products in the last few decades. Which further increases the demand for vegan chocolates. Moreover, after Netherlands, Belgium is the world’s second largest cocoa importer and experiencing steady expansion in the next decade. Besides, the growing demand for bakery products in the region is also a major factor for the growth of the vegan Belgian chocolate.
Some of the key players offering Belgian chocolates are the
are taking efforts to create new products and technologies are being made by top industry players using sophisticated methods to manufacture cost-effective products.
Companies often attempt to reduce the risk in the supply chain by strictly adhering to the distribution requirements. Manufacturers are working on partnerships, agreements, joint ventures, and mergers and acquisitions to expand market penetration, and strengthen market share.
The key players operating in the vegan chocolate market are emphasizing on the utilization of innovative ingredients to expand their product portfolio. The new product development teams are actively involved in developing new and better products, to stay in forefront of the global chocolate market.
They are focused on offering vegan chocolate in various flavors coupled with added health benefits to ensure increased opportunities in the vegan chocolate market.
Amid the COVID-19 pandemic, the global market for food and beverage, bakery and confectionary ingredients has been largely affected by strong global concerns about the pandemic. Furthermore, to overcome economic instability, ingredient prices will rise in 2021 due to high demand and low supply trends.
On the contrary, disruptions in the shipping supply chain could lead to temporary shortages of supply, putting upward price pressure in the short run.
Post the pandemic era the demand for health benefitting ingredients is expected to intensify as the consumers are looking for products that will reduce the risk of diseases.
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The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company.
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