Vegan Chocolate Market Share, Size, Trends & Growth Analysis 2028

Report Description

The global vegan chocolate market is growing at an exponential rate during the forecast period. Owing to the increasing health awareness among consumers regarding benefits of plant-based food products, rising cases of food-related allergies, and increasing public regarding animal cruelty.

Vegan chocolates give vegans a better alternative to traditional chocolates because vegans are very particular about their food and diet. Vegan chocolates are thought of as a healthier alternative because they don't contain dairy-based ingredients such as milk and animal fats. Traditional chocolates contain processed sugar, which is unsuitable for the health, but organic vegan chocolate is not harmful for health, so it can help consumers satisfy their sweet tooth without having any negative effects on their health. Vegan chocolates are good for weight loss because they are low in fat and high in protein. Moreover, vegan chocolate builds a stronger immune system and controls blood circulation in the body.

Owing to the increasing demand of vegan chocolates, companies are assessing and surveying to understand the consumer on why they prefer vegan chocolates, so that the companies could understand the consumer behavior. According to a survey conducted by the Belgian-Swiss cocoa processor and chocolate manufacturer Barry Callebaut, health (43%), liking the taste (41%), and adding variety to one’s diets/trying something new (34%) are the top three reasons people gave for trying plant-based chocolate treats, ahead of concerns about climate change and animal welfare. Taste aversions (28%), high prices (25%) and a lack of knowledge (19%) are the main barriers to consuming plant-based chocolate. Furthermore, in the UK, health (43%), taste (43%) and variety (32%) are the top three reasons for purchasing vegan chocolate.

Rising Consumer Awareness Toward Animal Cruelty is Fueling the Market Growth

When considering the circumstances and surroundings in which animals are raised, consumers are becoming more considerate and sensitive to their sufferings. Due to concerns about animal welfare, they are choosing plant-based products more and more often, particularly plant-based chocolates. The People for the Ethical Treatment of Animals (PETA) claims that in order to increase cows' annual milk production, Bovine Growth Hormones (BGH) and antibiotics are given to them, in order to increase cow productivity and efficiency. Their health suffers as a result, and the likelihood that their children will be born with congenital defects rises. This would aid in addressing environmental concerns owing to which plant based or vegan chocolate market is propelling the market during the forecast period.

Growing Vegan Population is Driving the Market Growth

As more people adopt a plant-based diet for various reasons, including health, ethical, and environmental considerations, the vegan population is expanding globally. Surveys show that the number of vegans has sharply increased in recent years, particularly in developed nations. As a result of this, there are variety of vegan products available online and in confectionery stores. For instance, in September 2021, it was estimated that there were 79 million vegans, which is more than 1% of the world's population. The UK has the highest percentage of vegans of any nation. According to recent data, veganism is becoming more and more popular in the UK. The many advantages of veganism are promoted frequently in advertisements and by well-known media figures, which increases its appeal in the UK. Hence, this factor is increasing the demand for vegan chocolates during the forecast period.

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Increasing Demand from Millennials and GenZ Aiding the Market Growth

The rise in popularity of plant-based diets and growing awareness of the ethical and environmental effects of animal-derived products are just two of the reasons why millennials and Gen Z are showing an increased demand for vegan chocolate. These groups frequently pay closer attention to the food's ingredients and look for goods that support their morals and ideology. Vegan chocolate is now readily available and appealing to a wider audience due to the rise of veganism and the development of novel and inventive plant-based ingredients. According to a survey commissioned by Barry Callebaut, three out of four (74%) respondents aged 18 to 44 say they occasionally eat plant-based chocolate. Millennials and Gen Z (aged 18 to 44), according to Barry Callebaut, are more likely to actively seek out a plant-based diet. Furthermore, it was stated that Gen Xers and Baby Boomers are less likely than other age groups to expect food brands to offer plant-based options, with only 60% of them expecting this (aged 45 to 75). Thus, the demand for vegan chocolates in the age group is increasing.

Market Segmentation

The global Vegan Chocolate market is segmented based on type, category, distribution channel region, and competitional landscape. Based on type, the market is further fragmented into dark chocolate, milk chocolate, and white chocolate. Based on category, the market is further segmented 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. On the basis of region, the market is divided among North America, Europe, Asia-Pacific, South America, and Middle East & Africa.

Company Profiles

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 are among the major market players driving the global Vegan Chocolate market.

Attribute	Details
Base Year	2022
Historical Years	2018 – 2021
Estimated Year	2023
Forecast Period	2024 – 2028
Quantitative Units	Revenue in USD Billion and CAGR for 2018-2021 and 2023E-2028F
Report Coverage	Revenue forecast, company share, competitive landscape, growth factors, and trends
Segments Covered	Type Category Distribution Channel Region
Regional Scope	North America, Europe, Asia-Pacific, Middle East & Africa and South America
Country Scope	United States, Canada, Mexico, Germany, France, United Kingdom, Italy, Spain, China, India, Japan, South Korea, Australia, Saudi Arabia, UAE, South Africa, Qatar, Brazil, Argentina, Colombia
Key Companies Profiled	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, etc
Customization Scope	10% free report customization with purchase. Addition or alteration to country, regional & segment scope.
Pricing and Purchase Options	Avail of customized purchase options to meet your exact research needs. Explore purchase options
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/pdf format on special request)

Report Scope:

In this report, the global Vegan Chocolate market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

Vegan Chocolate Market, By Type:

Dark
Milk
White

Vegan Chocolate Market, By Category:

Boxed
Bars
Countlines
Others

Vegan Chocolate Market, By Distribution Channel:

Supermarkets/Hypermarkets
Convenience Stores
Specialty Stores
Online
Departmental Stores
Non-Retail

Vegan Chocolate Market, By Region:

North America

United States
Canada
Mexico

Europe

France
Germany
United Kingdom
Italy
Spain

Asia-Pacific

China
India
Japan
South Korea
Australia

Middle East & Africa

Saudi Arabia
South Africa
UAE
Qatar

South America

Brazil
Argentina
Colombia

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the global Vegan Chocolate market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

Detailed analysis and profiling of additional market players (up to five).

Vegan Chocolate Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1. Introduction

1.1. Product Overview

1.2. Key Highlights of the Report

1.3. Market Coverage

1.4. Market Segments Covered

1.5. Research Tenure Considered

2. Research Methodology

2.1. Objective of the Study

2.2. Baseline Methodology

2.3. Key Industry Partners

2.4. Major Association and Secondary Sources

2.5. Forecasting Methodology

2.6. Data Triangulation & Validation

2.7. Assumptions and Limitations

3. Executive Summary

3.1. Market Overview

3.2. Market Forecast

3.3. Key Regions

3.4. Key Segments

4. Voice of Customer Analysis (B2C Model Analysis)

4.1. Sample Size Determination

4.2. Respondent Demographics

4.2.1. By Gender

4.2.2. By Age

4.2.3. By Occupation

4.3. Brand Awareness

4.4. Factors Influencing Purchase Decision

4.5. Brand Satisfaction

4.6. Customer Satisfaction

4.7. Challenges Faced Post Purchase

5. Global Vegan Chocolate Market Outlook

5.1. Market Size & Forecast

5.1.1. By Value

5.2. Market Share & Forecast

5.2.1. By Type Market Share Analysis (Dark, Milk, White)

5.2.2. By Category Share Analysis (Boxed, Bars, Countlines, Others (Pouches & Bags, etc.))

5.2.3. By Distribution Channel Share Analysis (Supermarkets/Hypermarkets, Convenience Stores, Specialty Stores, Online, Departmental Stores and Non-Retail)

5.2.4. By Regional Market Share Analysis

5.2.4.1. North America Market Share Analysis

5.2.4.2. Europe Market Share Analysis

5.2.4.3. Asia -Pacific Market Share Analysis

5.2.4.4. Middle East & Africa Market Share Analysis

5.2.4.5. South America Market Share Analysis

5.2.5. By Top 5 Companies Market Share Analysis, Others (2022)

5.3. Global Vegan Chocolate Market Mapping & Opportunity Assessment

5.3.1. By Type Market Mapping & Opportunity Assessment

5.3.2. By Category Market Mapping & Opportunity Assessment

5.3.3. By Distribution Channel Market Mapping & Opportunity Assessment

5.3.4. By Regional Market Mapping & Opportunity Assessment

6. North America Vegan Chocolate Market Outlook

6.1. Market Size & Forecast

6.1.1. By Value

6.2. Market Share & Forecast

6.2.1. By Type Market Share Analysis

6.2.2. By Category Market Share Analysis

6.2.3. By Distribution Channel Market Share Analysis

6.2.4. By Country Market Share Analysis

6.2.4.1. United States Vegan Chocolate Market Outlook

6.2.4.1.1. Market Size & Forecast

6.2.4.1.1.1. By Value

6.2.4.1.2. Market Share & Forecast

6.2.4.1.2.1. By Type Market Share Analysis

6.2.4.1.2.2. By Category Market Share Analysis

6.2.4.1.2.3. By Distribution Channel Market Share Analysis

6.2.4.2. Canada Vegan Chocolate Market Outlook

6.2.4.2.1. Market Size & Forecast

6.2.4.2.1.1. By Value

6.2.4.2.2. Market Share & Forecast

6.2.4.2.2.1. By Type Market Share Analysis

6.2.4.2.2.2. By Category Market Share Analysis

6.2.4.2.2.3. By Distribution Channel Market Share Analysis

6.2.4.3. Mexico Vegan Chocolate Market Outlook

6.2.4.3.1. Market Size & Forecast

6.2.4.3.1.1. By Value

6.2.4.3.2. Market Share & Forecast

6.2.4.3.2.1. By Type Market Share Analysis

6.2.4.3.2.2. By Category Market Share Analysis

6.2.4.3.2.3. By Distribution Channel Market Share Analysis

7. Europe Vegan Chocolate Market Outlook

7.1. Market Size & Forecast

7.1.1. By Value

7.2. Market Share & Forecast

7.2.1. By Type Market Share Analysis

7.2.2. By Category Market Share Analysis

7.2.3. By Distribution Channel Market Share Analysis

7.2.4. By Country Market Share Analysis

7.2.4.1. United Kingdom Vegan Chocolate Market Outlook

7.2.4.1.1. Market Size & Forecast

7.2.4.1.1.1. By Value

7.2.4.1.2. Market Share & Forecast

7.2.4.1.2.1. By Type Market Share Analysis

7.2.4.1.2.2. By Category Market Share Analysis

7.2.4.1.2.3. By Distribution Channel Market Share Analysis

7.2.4.2. Germany Vegan Chocolate Market Outlook

7.2.4.2.1. Market Size & Forecast

7.2.4.2.1.1. By Value

7.2.4.2.2. Market Share & Forecast

7.2.4.2.2.1. By Type Market Share Analysis

7.2.4.2.2.2. By Category Market Share Analysis

7.2.4.2.2.3. By Distribution Channel Market Share Analysis

7.2.4.3. France Vegan Chocolate Market Outlook

7.2.4.3.1. Market Size & Forecast

7.2.4.3.1.1. By Value

7.2.4.3.2. Market Share & Forecast

7.2.4.3.2.1. By Type Market Share Analysis

7.2.4.3.2.2. By Category Market Share Analysis

7.2.4.3.2.3. By Distribution Channel Market Share Analysis

7.2.4.4. Spain Vegan Chocolate Market Outlook

7.2.4.4.1. Market Size & Forecast

7.2.4.4.1.1. By Value

7.2.4.4.2. Market Share & Forecast

7.2.4.4.2.1. By Type Market Share Analysis

7.2.4.4.2.2. By Category Market Share Analysis

7.2.4.4.2.3. By Distribution Channel Market Share Analysis

7.2.4.5. Italy Vegan Chocolate Market Outlook

7.2.4.5.1. Market Size & Forecast

7.2.4.5.1.1. By Value

7.2.4.5.2. Market Share & Forecast

7.2.4.5.2.1. By Type Market Share Analysis

7.2.4.5.2.2. By Category Market Share Analysis

7.2.4.5.2.3. By Distribution Channel Market Share Analysis

8. Asia-Pacific Vegan Chocolate Market Outlook

8.1. Market Size & Forecast

8.1.1. By Value

8.2. Market Share & Forecast

8.2.1. By Type Market Share Analysis

8.2.2. By Category Market Share Analysis

8.2.3. By Distribution Channel Market Share Analysis

8.2.4. By Country Market Share Analysis

8.2.4.1. China Vegan Chocolate Market Outlook

8.2.4.1.1. Market Size & Forecast

8.2.4.1.1.1. By Value

8.2.4.1.2. Market Share & Forecast

8.2.4.1.2.1. By Type Market Share Analysis

8.2.4.1.2.2. By Category Market Share Analysis

8.2.4.1.2.3. By Distribution Channel Market Share Analysis

8.2.4.2. Japan Vegan Chocolate Market Outlook

8.2.4.2.1. Market Size & Forecast

8.2.4.2.1.1. By Value

8.2.4.2.2. Market Share & Forecast

8.2.4.2.2.1. By Type Market Share Analysis

8.2.4.2.2.2. By Category Market Share Analysis

8.2.4.2.2.3. By Distribution Channel Market Share Analysis

8.2.4.3. India Vegan Chocolate Market Outlook

8.2.4.3.1. Market Size & Forecast

8.2.4.3.1.1. By Value

8.2.4.3.2. Market Share & Forecast

8.2.4.3.2.1. By Type Market Share Analysis

8.2.4.3.2.2. By Category Market Share Analysis

8.2.4.3.2.3. By Distribution Channel Market Share Analysis

8.2.4.4. Australia Vegan Chocolate Market Outlook

8.2.4.4.1. Market Size & Forecast

8.2.4.4.1.1. By Value

8.2.4.4.2. Market Share & Forecast

8.2.4.4.2.1. By Type Market Share Analysis

8.2.4.4.2.2. By Category Market Share Analysis

8.2.4.4.2.3. By Distribution Channel Market Share Analysis

8.2.4.5. South Korea Vegan Chocolate Market Outlook

8.2.4.5.1. Market Size & Forecast

8.2.4.5.1.1. By Value

8.2.4.5.2. Market Share & Forecast

8.2.4.5.2.1. By Type Market Share Analysis

8.2.4.5.2.2. By Category Market Share Analysis

8.2.4.5.2.3. By Distribution Channel Market Share Analysis

9. Middle East & Africa Vegan Chocolate Market Outlook

9.1. Market Size & Forecast

9.1.1. By Value

9.2. Market Share & Forecast

9.2.1. By Type Market Share Analysis

9.2.2. By Category Market Share Analysis

9.2.3. By Distribution Channel Market Share Analysis

9.2.4. By Country Market Share Analysis

9.2.4.1. Saudi Arabia Vegan Chocolate Market Outlook

9.2.4.1.1. Market Size & Forecast

9.2.4.1.1.1. By Value

9.2.4.1.2. Market Share & Forecast

9.2.4.1.2.1. By Type Market Share Analysis

9.2.4.1.2.2. By Category Market Share Analysis

9.2.4.1.2.3. By Distribution Channel Market Share Analysis

9.2.4.2. UAE Vegan Chocolate Market Outlook

9.2.4.2.1. Market Size & Forecast

9.2.4.2.1.1. By Value

9.2.4.2.2. Market Share & Forecast

9.2.4.2.2.1. By Type Market Share Analysis

9.2.4.2.2.2. By Category Market Share Analysis

9.2.4.2.2.3. By Distribution Channel Market Share Analysis

9.2.4.3. Qatar Vegan Chocolate Market Outlook

9.2.4.3.1. Market Size & Forecast

9.2.4.3.1.1. By Value

9.2.4.3.2. Market Share & Forecast

9.2.4.3.2.1. By Type Market Share Analysis

9.2.4.3.2.2. By Category Market Share Analysis

9.2.4.3.2.3. By Distribution Channel Market Share Analysis

9.2.4.4. South Africa Vegan Chocolate Market Outlook

9.2.4.4.1. Market Size & Forecast

9.2.4.4.1.1. By Value

9.2.4.4.2. Market Share & Forecast

9.2.4.4.2.1. By Type Market Share Analysis

9.2.4.4.2.2. By Category Market Share Analysis

9.2.4.4.2.3. By Distribution Channel Market Share Analysis

10. South America Vegan Chocolate Market Outlook

10.1. Market Size & Forecast

10.1.1. By Value

10.2. Market Share & Forecast

10.2.1. By Type Market Share Analysis

10.2.2. By Category Market Share Analysis

10.2.3. By Distribution Channel Market Share Analysis

10.2.4. By Country Market Share Analysis

10.2.4.1. Brazil Vegan Chocolate Market Outlook

10.2.4.1.1. Market Size & Forecast

10.2.4.1.1.1. By Value

10.2.4.1.2. Market Share & Forecast

10.2.4.1.2.1. By Type Market Share Analysis

10.2.4.1.2.2. By Category Market Share Analysis

10.2.4.1.2.3. By Distribution Channel Market Share Analysis

10.2.4.2. Argentina Vegan Chocolate Market Outlook

10.2.4.2.1. Market Size & Forecast

10.2.4.2.1.1. By Value

10.2.4.2.2. Market Share & Forecast

10.2.4.2.2.1. By Type Market Share Analysis

10.2.4.2.2.2. By Category Market Share Analysis

10.2.4.2.2.3. By Distribution Channel Market Share Analysis

10.2.4.3. Colombia Vegan Chocolate Market Outlook

10.2.4.3.1. Market Size & Forecast

10.2.4.3.1.1. By Value

10.2.4.3.2. Market Share & Forecast

10.2.4.3.2.1. By Type Market Share Analysis

10.2.4.3.2.2. By Category Market Share Analysis

10.2.4.3.2.3. By Distribution Channel Market Share Analysis

11. Market Dynamics

11.1. Drivers

11.1.1. Increasing Demand

11.1.2. High Demand for Dark Chocolates

11.1.3. Efficient Marketing

11.2. Challenges

11.2.1. High Cost

11.2.2. Consumers Rigidity towards Traditional Chocolates

12. Impact of COVID-19 on Global Vegan Chocolate Market

13. Market Trends & Developments

13.1. Increased Demand for Healthier Option

13.2. Changing Consumer Preference

13.3. Growing Young Population

13.4. Rapid Urbanization Leading to Changing Lifestyle

13.5. Increasing consumer awareness towards Veganism

14. Porter’s Five Forces Model

14.1. Competitive Rivalry

14.2. Bargaining Power of Buyers

14.3. Bargaining Power of Suppliers

14.4. Threat of New Entrants

14.5. Threat of Substitutes

15. Competitive Landscape

15.1. Company Profiles

15.1.1. Mondelez International, Inc.

15.1.1.1. Company Details

15.1.1.2. Products & Services

15.1.1.3. Financial (As Per Availability)

15.1.1.4. Key Market Focus & Geographical Presence

15.1.1.5. Recent Development

15.1.1.6. Key Management Personnel

15.1.2. Nestlé S.A.

15.1.2.1. Company Details

15.1.2.2. Products & Services

15.1.2.3. Financial (As Per Availability)

15.1.2.4. Key Market Focus & Geographical Presence

15.1.2.5. Recent Development

15.1.2.6. Key Management Personnel

15.1.3. Tofutti Brands Inc.

15.1.3.1. Company Details

15.1.3.2. Products & Services

15.1.3.3. Financial (As Per Availability)

15.1.3.4. Key Market Focus & Geographical Presence

15.1.3.5. Recent Development

15.1.3.6. Key Management Personnel

15.1.4. Plamil Foods Ltd

15.1.4.1. Company Details

15.1.4.2. Products & Services

15.1.4.3. Financial (As Per Availability)

15.1.4.4. Key Market Focus & Geographical Presence

15.1.4.5. Recent Development

15.1.4.6. Key Management Personnel

15.1.5. Barry Callebaut AG

15.1.5.1. Company Details

15.1.5.2. Products & Services

15.1.5.3. Financial (As Per Availability)

15.1.5.4. Key Market Focus & Geographical Presence

15.1.5.5. Recent Development

15.1.5.6. Key Management Personnel

15.1.6. Endangered Species Chocolate, LLC.

15.1.6.1. Company Details

15.1.6.2. Products & Services

15.1.6.3. Financial (As Per Availability)

15.1.6.4. Key Market Focus & Geographical Presence

15.1.6.5. Recent Development

15.1.6.6. Key Management Personnel

15.1.7. Endorfin foods Inc.

15.1.7.1. Company Details

15.1.7.2. Products & Services

15.1.7.3. Financial (As Per Availability)

15.1.7.4. Key Market Focus & Geographical Presence

15.1.7.5. Recent Development

15.1.7.6. Key Management Personnel

15.1.8. Goodio / Helsinki Heaven Oy

15.1.8.1. Company Details

15.1.8.2. Products & Services

15.1.8.3. Financial (As Per Availability)

15.1.8.4. Key Market Focus & Geographical Presence

15.1.8.5. Recent Development

15.1.8.6. Key Management Personnel

15.1.9. Montezuma’s Direct Ltd

15.1.9.1. Company Details

15.1.9.2. Products & Services

15.1.9.3. Financial (As Per Availability)

15.1.9.4. Key Market Focus & Geographical Presence

15.1.9.5. Recent Development

15.1.9.6. Key Management Personnel

15.1.10. Chocoladefabriken Lindt & Sprüngli AG

15.1.10.1. Company Details

15.1.10.2. Products & Services

15.1.10.3. Financial (As Per Availability)

15.1.10.4. Key Market Focus & Geographical Presence

15.1.10.5. Recent Development

15.1.10.6. Key Management Personnel

16. Strategic Recommendations/Action Plan

16.1. Key Focus Areas

16.2. Target Type

16.3. Target Category

17. About Us & Disclaimer

(Note: The companies list can be customized based on the client requirements.)

Figures and Tables

Frequently asked questions

What are the key factors driving the growth of Vegan Chocolate market?

Consumer preference toward vegan products, changing lifestyle, and awareness towards animal cruelty, are major drivers of the global vegan chocolate market.

Who are the key players in the Vegan Chocolate market?

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 are among the top players operating in the market.