Opportunities in Vegan Chocolate Market Analysis, Segments, Growth and Value Chain 2032

𝐕𝐞𝐠𝐚𝐧 𝐂𝐡𝐨𝐜𝐨𝐥𝐚𝐭𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝐎𝐮𝐭𝐥𝐨𝐨𝐤 𝟐𝟎𝟑𝟐

The global vegan chocolate market was valued at US$ 532.7 Mn in 2022
It is estimated to grow at a CAGR of 10.5% from 2022 to 2032
The global vegan chocolate market is expected to reach US$ 1444.7 Mn by the end of 2032

𝐑𝐞𝐚𝐝 𝐑𝐞𝐩𝐨𝐫𝐭 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰 - https://www.transparencymarketresearch.com/vegan-chocolate-market.html

𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰 𝐨𝐟 𝐆𝐥𝐨𝐛𝐚𝐥 𝐕𝐞𝐠𝐚𝐧 𝐂𝐡𝐨𝐜𝐨𝐥𝐚𝐭𝐞 𝐌𝐚𝐫𝐤𝐞𝐭

Veganism is defined as consumption of plant-based products. Thus, vegan chocolate is considered dairy-free. Veganism opposes the consumption of animal products and by-products, particularly dairy products such as cow milk. Dark chocolate is the finest chocolate for vegans, since it is made with cocoa butter instead of milk and other additives. It is named cocoa butter; however, it does not contain any dairy product and is classified as "butter" due to the creamy texture provided by the vegetable fat extract. The global vegan chocolate market is significantly driven by the increasing population of vegans and flexitarians.

𝐆𝐞𝐭 𝐏𝐃𝐅 𝐁𝐫𝐨𝐜𝐡𝐮𝐫𝐞 𝐨𝐟 𝐭𝐡𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 - https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=21725

𝐈𝐧𝐜𝐫𝐞𝐚𝐬𝐞 𝐢𝐧 𝐇𝐞𝐚𝐥𝐭𝐡 𝐀𝐰𝐚𝐫𝐞𝐧𝐞𝐬𝐬 𝐚𝐦𝐨𝐧𝐠 𝐂𝐨𝐧𝐬𝐮𝐦𝐞𝐫𝐬 𝐁𝐨𝐨𝐬𝐭𝐢𝐧𝐠 𝐃𝐞𝐦𝐚𝐧𝐝 𝐟𝐨𝐫 𝐕𝐞𝐠𝐚𝐧 𝐂𝐡𝐨𝐜𝐨𝐥𝐚𝐭𝐞𝐬

A well-planned vegan diet, which adheres to healthy eating guidelines, provides all the nutrients that a body requires. It is suitable for people of all ages and stages of life, according to the American Academy of Nutrition and Dietetics and the British Dietetic Association. Several studies indicate the association of vegan chocolates with lower blood pressure and cholesterol as well as lower incidences of heart disease, type 2 diabetes, and various types of cancers. Veganism helps promote healthy eating habits and reduces the possible risks associated with harmful animal fats. Plant-based chocolates are rich in vitamins, essential fibers, and minerals. Many lactose-intolerant consumers choose plant-based alternatives. Thus, demand for vegan chocolates is increasing across the globe.

𝐆𝐫𝐨𝐰𝐭𝐡 𝐢𝐧 𝐍𝐮𝐦𝐛𝐞𝐫 𝐨𝐟 𝐀𝐧𝐢𝐦𝐚𝐥 𝐑𝐢𝐠𝐡𝐭𝐬 𝐎𝐫𝐠𝐚𝐧𝐢𝐳𝐚𝐭𝐢𝐨𝐧𝐬 𝐭𝐨 𝐀𝐮𝐠𝐦𝐞𝐧𝐭 𝐃𝐞𝐦𝐚𝐧𝐝 𝐟𝐨𝐫 𝐕𝐞𝐠𝐚𝐧 𝐅𝐨𝐨𝐝 𝐏𝐫𝐨𝐝𝐮𝐜𝐭𝐬

Consumers are becoming increasingly sensitive and sympathetic to animals considering the conditions and surroundings in which animals are raised. They are increasingly opting for plant-based products, especially plant-based chocolates, due to animal welfare concerns. According to the People for the Ethical Treatment of Animals (PETA), cows are administered antibiotics and Bovine Growth Hormones (BGH) to produce more milk per year. Various hormones are used to boost cow productivity and efficiency. This has a negative impact on their health and increases the rate of congenital defects in their offspring. Vegan chocolate is made without the use of dairy milk, which many people now perceive to be a significant source of environmental issues. Crops can be used to manufacture milk-based chocolates. This would help tackle environmental concerns.

𝐑𝐢𝐬𝐞 𝐢𝐧 𝐏𝐫𝐞𝐟𝐞𝐫𝐞𝐧𝐜𝐞 𝐟𝐨𝐫 𝐂𝐡𝐞𝐦𝐢𝐜𝐚𝐥-𝐟𝐫𝐞𝐞 𝐚𝐧𝐝 𝐎𝐫𝐠𝐚𝐧𝐢𝐜 𝐕𝐞𝐠𝐚𝐧 𝐂𝐡𝐨𝐜𝐨𝐥𝐚𝐭𝐞

Based on nature, the global vegan chocolate market has been bifurcated into organic and conventional. The conventional segment held major share of 86.3% in 2022 and is expected to grow at a value CAGR of 10.3% during the forecast period. Demand for organic vegan chocolate is expected to reach US$ 216.8 Mn by the end of 2032, with a value CAGR of 11.5%. Organic vegan chocolate is produced without using any harmful pesticides or chemicals. Consumers perceive organic chocolate as a safe and healthier alternative to conventional chocolate. This is expected to boost the global market for organic vegan chocolate in the next few years.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧 - https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=21725

𝐒𝐮𝐫𝐠𝐞 𝐢𝐧 𝐃𝐞𝐦𝐚𝐧𝐝 𝐟𝐨𝐫 𝐇𝐢𝐠𝐡𝐥𝐲 𝐍𝐮𝐭𝐫𝐢𝐭𝐢𝐨𝐮𝐬 𝐚𝐧𝐝 𝐓𝐚𝐬𝐭𝐲 𝐃𝐚𝐫𝐤 𝐕𝐞𝐠𝐚𝐧 𝐂𝐡𝐨𝐜𝐨𝐥𝐚𝐭𝐞𝐬 𝐭𝐨 𝐃𝐫𝐢𝐯𝐞 𝐆𝐥𝐨𝐛𝐚𝐥 𝐕𝐞𝐠𝐚𝐧 𝐂𝐡𝐨𝐜𝐨𝐥𝐚𝐭𝐞 𝐌𝐚𝐫𝐤𝐞𝐭

In terms of the type, the vegan chocolate market has been classified into vegan milk chocolate, vegan dark chocolate, and vegan white chocolate. The dark chocolate segment dominated the market in 2022 with 52.9% share, as dark vegan chocolate is full of antioxidants and flavonoids, which help boost cognitive functions. Furthermore, people are increasingly seeking to add nutritional benefits while consuming chocolates. Dark chocolate also contains less sugar compared to milk chocolate and white chocolate. The milk vegan chocolate segment is expected to register the fastest CAGR of 10.9% during the forecast period.

𝐈𝐧𝐜𝐫𝐞𝐚𝐬𝐞 𝐢𝐧 𝐍𝐮𝐦𝐛𝐞𝐫 𝐨𝐟 𝐇𝐲𝐩𝐞𝐫𝐦𝐚𝐫𝐤𝐞𝐭𝐬/𝐒𝐮𝐩𝐞𝐫𝐦𝐚𝐫𝐤𝐞𝐭𝐬 𝐭𝐨 𝐏𝐫𝐨𝐩𝐞𝐥 𝐒𝐚𝐥𝐞𝐬 𝐨𝐟 𝐕𝐞𝐠𝐚𝐧 𝐂𝐡𝐨𝐜𝐨𝐥𝐚𝐭𝐞

Based on sales channel, the global vegan chocolate market has been segregated into hypermarkets/supermarkets, convenience stores, specialty stores, and online retail. Demand for chocolate is high in hypermarkets/supermarkets, which held around 50% share of the market in 2022. The online retail segment is likely to grow at a significant value CAGR of 11.7%, as it is convenient for people to compare the prices of chocolates and also find unique and innovative flavors online.

𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐎𝐮𝐭𝐥𝐨𝐨𝐤 𝐨𝐟 𝐆𝐥𝐨𝐛𝐚𝐥 𝐕𝐞𝐠𝐚𝐧 𝐂𝐡𝐨𝐜𝐨𝐥𝐚𝐭𝐞 𝐌𝐚𝐫𝐤𝐞𝐭

Europe held the largest value share of 36.4% of the global vegan chocolate market in 2022. Consumption of vegan chocolate is increasing in Europe due to the rise in consumer awareness about animal welfare, health, and sustainability. Additionally, high disposable income, innovative technologies, established research and development centers, and presence of manufacturing units throughout the region are driving the market in Europe. Brazil accounts for around 34.4% share of the vegan chocolate market in Latin America. The market in South Asia and North America is expected to grow at a value CAGR of 11.5% and 11.0%, respectively, during the forecast period. In Oceania, the market in Australia is expected to grow at a significant value CAGR of 10.2% to reach US$ 46.4 Mn by 2032.

𝐌𝐚𝐤𝐞 𝐚𝐧 𝐄𝐧𝐪𝐮𝐢𝐫𝐲 𝐛𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 - https://www.transparencymarketresearch.com/sample/sample.php?flag=EB&rep_id=21725

𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬 𝐨𝐟 𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 𝐢𝐧 𝐆𝐥𝐨𝐛𝐚𝐥 𝐕𝐞𝐠𝐚𝐧 𝐂𝐡𝐨𝐜𝐨𝐥𝐚𝐭𝐞 𝐌𝐚𝐫𝐤𝐞𝐭

The global vegan chocolate market is consolidated, with large vendors controlling majority of the share. Most of the manufacturers are spending significantly on comprehensive research and development activities, primarily to develop label-friendly products, expand their portfolios, and create innovative vegan chocolate flavors.
Barry Callebaut, Chocoladefacriken Lindt & Sprungli AG, Nestle, Endangered Species Chocolate, Alter Eco, Taza Chocolate, Theo, TCHO, Equal Exchange Coop, Goodio, Montezuma's Direct Ltd., Sjaak's, Plamil Foods Ltd., Dylan's Candy Bar, and Creative Nature Ltd are some of the prominent players in the global vegan chocolate market.

𝐀𝐛𝐨𝐮𝐭 𝐓𝐫𝐚𝐧𝐬𝐩𝐚𝐫𝐞𝐧𝐜𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡

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𝐂𝐨𝐧𝐭𝐚𝐜𝐭

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