The global vegan chocolate market is anticipated to grow at a significant CAGR of 4.6% during the forecast period. Increasing demand for vegan products among the population, who are more concerned about their fitness and health is the major factor driving the growth of the vegan chocolate market across the globe. Vegan chocolates are high in proteins and contain low calories and fats which aids to lose weight. According to the World Health Organization (WHO), in 2019, an estimated 38.2 million children under the age of 5 years were overweight or obese and 39 million children under the age of 5 were overweight or obese in 2020. The increasing incidences of obesity have decreased the consumption of traditional chocolates as they contain processed sugar which increases the weight due to which the demand for vegan chocolate increases and led to the growth of the vegan chocolate market across the globe.
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Moreover, vegan chocolates also support boosting the immune system and regulate blood flow in the body which is also a major factor in the growth of the vegan chocolate market globally. Increased awareness regarding fitness and physical activity among people made them stop consuming traditional unhealthy chocolates and shift towards a healthy alternative which increases the demand for vegan chocolates in the market. Many companies expanded their production to fulfill the demand of consumers and to compete in the market which also contributes to the growth of the vegan chocolate market across the globe. For instance, in April 2022, Indian plant-based chocolate firm CARRA launched a dairy-free white chocolate bar, aiming to ‘plug the gaps in its portfolio to appeal to a wider consumer base. The firm started its plant-based portfolio with dark chocolates of which it now has 10 SKUs, then milk chocolates with two SKUs and now it has launched its white variant, lemon, and cranberry.
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- Market Coverage
- Market number available for – 2022-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill Inc., and others
Global Vegan Chocolate Market Report Segment
By Product Type
- Dark
- White
- Other
By Flavor Type
- Caramel
- Brown Butter
- Coconut Milk
- Other Flavor
By Distribution Channel
- Online
- Offline
Global Vegan Chocolate Market Report Segment by Region
North America
- US
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global vegan chocolate market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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