PUBLISHER: UnivDatos Market Insights Pvt Ltd | PRODUCT CODE: 1534940
PUBLISHER: UnivDatos Market Insights Pvt Ltd | PRODUCT CODE: 1534940
Vegan chocolate confectionery is a subset of chocolate candies which are prepared from plant source ingredients without any animal inputs like milk, butter and eggs. This is helpful to consumers who follow vegan diets or prefer non-dairy, sustainably-sourced chocolates in their diet.
The MENA Vegan Chocolate Confectionery Market is expected to grow at a robust CAGR of 15.7% during the forecast period (2024-2032). Owing to the growing awareness and adoption of healthier lifestyles across the MENA region. However, the increasing vegan population is a result of people opting for such a diet not only for ethical reasons or environmental concerns but also for their health interests, which means a larger client base. The increasing availability of vegan products in traditional grocery stores and through Internet sales makes it easier for consumers in the MENA region to purchase vegan chocolate. Besides, e-commerce web platforms have emerged that enable broad market coverage in the MENA region. As per the Emirates NBD, in September 2023, estimates for 2022 that within the MENA region, Israel remains the largest e-commerce market - in terms of both absolute size and penetration rates - followed by KSA and the UAE. These three countries accounted for just over 72% of the MENA region's total e-commerce market in 2022.
Based on the product, the market is segmented into boxed, molded bars, chips & bites, and truffles & cups. Among them, the molded bars held the largest market share in 2023 by offering convenient, indulgent treats that align with dietary preferences. As consumer interest in plant-based diets rises, these bars provide a delicious and accessible option for vegans and health-conscious individuals. Their availability in various flavors and textures enhances their appeal, catering to a diverse audience seeking ethical and sustainable confectionery choices in the MENA region.
By distribution channel, the market is segmented into online and offline. Online is expected to grow with a significant CAGR during the forecast period (2024-2032). They provide accessibility and convenience to a growing consumer base. As e-commerce platforms expand across the region, they offer a wide variety of vegan chocolate options that may not be readily available in traditional brick-and-mortar stores. The MENA e-commerce penetration rate was in the region of 5.7% in 2022, compared to a global average of 19%, as per the Emirates NBD, in September 2023. This accessibility appeals to tech expert consumers seeking diverse specialty products, accelerating the market's growth and catering to the increasing demand for ethical and plant-based treats in MENA.
For a better understanding of the market adoption of the vegan chocolate confectionery industry, the MENA market is analyzed based on its presence in countries such as UAE, Saudi Arabia, Oman, Kuwait, and the Rest of the MENA. The UAE is expected to grow with a significant CAGR during the forecast period (2024-2032). This is mainly due to its affluent and cosmopolitan population increasingly prioritizing health and sustainability. In recent years, there has been an increase in the adoption of veganism and plant-based diets amongst the UAE population, which is in line with global trends and local, healthy living campaigns. Currently, the UAE has over 18 eateries that are 100% vegan-friendly, and even popular fast-food franchises provide vegan options by 2021. Furthermore, the UAE market for the retail sale of chocolates and confectionery products is still expanding, with consumers shifting towards healthier products, including vegan chocolates. The current retail environment in the country, which includes advanced supermarkets and specific shops, ensures the availability and visibility of vegan products. Thus, vital programs such as Dubai's Future Food Forum show the UAE's aspiration to incubate ingenuity in sustainable and plant-based food sectors, increasing the demand for vegan chocolate confectionery.
Some of the major players operating in the market include The Vegan Candy Man, Boojabooja, NOTIONS GROUP, The Raw Chocolate Company, Kakaw Manufacturing, Barry Callebaut, BAR & COCOA, Laderach (USA) Inc, Green & Black's, Mars, Incorporated.