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Vegan Chocolate Market Trends

  • Report ID: GMI7231
  • Published Date: Oct 2023
  • Report Format: PDF

Vegan Chocolate Market Trends

There is the proliferation of innovative flavors and ingredients, with manufacturers experimenting with a diverse range of plant-based alternatives such as almond milk, coconut milk, and rice milk to replicate the creamy texture and rich taste of traditional milk chocolate. Additionally, the incorporation of superfoods like goji berries, acai, and matcha has gained traction, appealing to health-conscious consumers seeking functional benefits in their indulgent treats. Further, the market has seen a notable surge in the demand for organic and fair-trade certified vegan chocolates, reflecting the growing consumer awareness and concern for ethical and sustainable sourcing practices. Brands are increasingly emphasizing transparency in their supply chains, highlighting the traceability of ingredients and ethical treatment of farmers and workers involved in the production process.

Authors: Kiran Pulidindi, Manish Mohanan

Frequently Asked Questions (FAQ) :

The market size of vegan chocolate was USD 662.54 million in 2023 and is expected to reach USD 2.08 billion by 2032, due to the rising emergence of small-scale artisanal chocolatiers specializing in vegan products, and the growing availability of vegan chocolate in mainstream retail channels worldwide.

Vegan chocolate market from the dark chocolate type segment recorded USD 300.79 million in 2022 and is expected to register a significant CAGR from 2023-2032 due to its rich cocoa content and potential health benefits.

North America industry size for vegan chocolate reached USD 202.69 million in 2022 and is expected to witness a commendable CAGR from 2023-2032 owing to the presence of a strong consumer base that is actively seeking ethical and sustainable food options in the region.

Lindt, Hershey, GODIVA Chocolates, Lily's Sweets, Unreal Snacks, Alter Eco, Barry Callebaut, and Nestle, are some of the major vegan chocolate companies worldwide.

Vegan Chocolate Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 15
  • Tables & Figures: 301
  • Countries covered: 19
  • Pages: 210
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