Vegan Chocolate Market is Driven by Dark Vegan Chocolate During the Forecast Period
Growing number of animal welfare organizations, rising awareness
of benefits of plant-based products, and increase in vegan population is
driving the global vegan chocolate market.
According to TechSci Research report, “Vegan Chocolate Market - Global Industry Size,
Share, Trends, Competition, Opportunity, and Forecast, 2018-2028F” The global vegan chocolate market size
is expected to grow at an exponential annual growth rate. Demand for vegan
chocolates has been fueled by consumers' growing acceptance of veganism,
particularly among millennials and the Gen Z population. Additionally, the rise in environmental
protection campaigns and public awareness regarding animal cruelty are helping
the market expand. Consumer food preferences have changed recently as a result
of the increase in cases of lactose intolerance and other food-related
allergies among both children and adults.
The consumption of plant-based products
is known as veganism. Vegan chocolate is therefore regarded as being
dairy-free. The vegan lifestyle is opposed to the consumption of all animal
products and byproducts, especially dairy items such as cow milk. Dark
chocolate is the finest chocolate for vegans because it does not contain
milk or other additives in its production. Despite not containing any dairy
products and going by the name "cocoa butter," it is categorized as ’butter’
because of the smooth texture the vegetable fat extract gives it. The growing
number of vegans and flexitarians is a major factor driving the global vegan
chocolate market.
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on the "Vegan Chocolate Market"
The global Vegan Chocolate market is segmented based on type, category, distribution
channel, region, and competitional landscape. Based on type, the market is
further segmented into dark chocolate, milk chocolate, and white chocolate.
Based on category, the market is further split into boxed, bars, countlines,
and others (pouches & bags, etc.). In terms of distribution channel, the
market is further divided into supermarkets/hypermarkets, convenience stores,
specialty stores, online, departmental stores and non-retail. The market
analysis also studies the regional segmentation to devise regional market
segmentation, divided among North America, Europe, Asia-Pacific, South America,
and Middle East & Africa.
Owing to the ongoing acceptance of the
vegan diet among the people in the region, the vegan chocolate market in Europe
has seen significant growth in recent years. Consumers who are interested in
living healthy lifestyles are increasingly choosing vegan or flexitarian diets.
Germans are among the most vegetarian people in the world, with a study from
the Federal Ministry of Food and Agriculture indicating that 35% of the
population finds the availability of vegetarian or vegan products to be
"very important" and that 63% of Germans are trying to consume less
meat. There are also 1.3 million vegans and 8 million vegetarians in Germany,
according to a recent study by Proveg International, a global organization for
food awareness. This has contributed to the increasing demand for vegan
chocolates in Europe.
Key market players in the Vegan
Chocolate market include:
- Mondelez
International, Inc.
- Nestlé S.A.
- Tofutti
Brands Inc.
- Plamil Foods
Ltd
- Barry
Callebaut AG
- Endangered
Species Chocolate, LLC.
- Endorfin Foods
Inc.
- Goodio /
Helsinki Heaven Oy
- Montezuma’s
Direct Ltd
- Chocoladefabriken
Lindt & Sprüngli AG
To cater to the growing demand of vegan chocolates in the world, many companies
are coming up with different flavors and varieties of vegan chocolates. For
instance, introduced by Cadbury in February 2022 the Cadbury Plant Bar, which
is a plant-based vegan chocolate that is available in two flavors, smooth
chocolate, and salted caramel. The bars, which are vegan-certified, boast
a lusciously smooth texture and all the benefits of chocolate. They are made
with a mixture of cocoa, almond paste, and rice extract.
Moreover, the celebrities are further
promoting the vegan products by launching their own brands and encouraging
their fans to follow vegan diet. For instance, Billie Eilish an American singer
launched her vegan milk chocolate bar. Rice
milk powder, cocoa butter, raw cane sugar, chocolate liquor, tiger nut powder,
hazelnut paste, and bourbon vanilla extract are the ingredients used within the
Billie's new “Happier Than Ever” milk chocolate bar. The bar has Rainforest
Alliance and 100% organic certifications, as well as being kosher. The 2.8oz
bar is wrapped in a compostable nature-flex foil made from natural raw
materials and contains 37% cocoa.
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“The market is expanding as a result of
an increase in environmental protection campaigns and a rise in public
awareness of animal cruelty. Due to the increase in food allergies and cases of
lactose intolerance in both children and adults in recent years, consumers'
food preferences have also changed, owing to which the market for vegan
chocolates is expected to increase during the forecast period.” said Mr.
Karan Chechi, Research Director with TechSci Research, a research based global-management
consulting firm.
“Vegan
Chocolate Market – Global Industry Size, Share, Trends, Opportunity, and
Forecast, 2018-2028F Segmented By Type (Dark Chocolate, Milk Chocolate, and
White Chocolate), By Category (Boxed, Bars, Countlines, and Others (Pouches
& Bags, etc.)), By Distribution Channel (Supermarkets/Hypermarkets,
Convenience Stores, Specialty Stores, Online, Departmental Stores and
Non-Retail) By Region, Competition”, has evaluated the future growth potential of vegan
chocolate and provides statistics and information on
market structure, size, share, and future growth. The report is intended to
provide cutting-edge market intelligence and help decision-makers take sound
investment decisions. Besides, the report also identifies and analyzes the
emerging trends along with essential drivers, challenges and opportunities
present in global Vegan Chocolate market.
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