(MENAFN- EIN Presswire)
Vegan Chocolate market 1
Ethical issues, such as animal welfare and environmental sustainability, are influencing consumer preferences.
The vegan chocolate market is going to increase because of health consciousness, a higher need for non-dairy goods, and environmental-friendly substitute options are growing.” - SNS INSIDERAUSTIN, TX, UNITED STATES, November 27, 2024 /EINPresswire / --
The Vegan Chocolate Market was valued at USD 1274.48 Million in 2023 and is expected to grow to USD 3602.99 Million by 2032, at a CAGR of 12.24% over the forecast period of 2024-2032.
The vegan chocolate market is fueling growth in lactose intolerance, awareness of animal welfare, and interest in clean and minimal ingredient products. Plant-based formulation innovation has made vegan chocolates taste creamier and more pleasing, even to non-vegans. An increasing desire among the youth for sustainable lifestyles has seen companies develop products with greener packaging, thus increasing attractiveness. Social media and their influencers are increasing vegan trends, retailers are expanding vegan lines and making vegan chocolate increasingly easy to find and crave.
Get a Sample of Vegan Chocolate Market Report @
Vegan Chocolate Demand Surges as Brands Innovate and E-Commerce Expands Access
Increasing demand for vegan food and beverages like vegan chocolate from many who have adopted this diet due to ethical, environmental, or health concerns has enhanced market growth. The fact that flexitarians consume plant-based food while sometimes consuming animal products makes flexitarians support the increased demand for vegan products. Manufacturers come up with new types of vegan chocolate, such as bars, truffles, and bonbons, to present new flavors and textures.
E-commerce has made it easier to buy vegan chocolate from the most diverse brands and often with a lower price. These manufacturers are venturing deeper into new markets, going straight to retailers to increase shop presence, and using every social media and targeted ad to raise awareness and boost accessibility.
Dark Chocolate Dominates Market While Online Sales Set to Soar
By Chocolate Type: Dark Chocolate segment led the market with 53% of total revenue in 2023. The Dark Chocolate segment was on top, holding 53% of overall revenue in 2023. This is largely because dark chocolate is already free from dairy by formulation and thus easily adaptable to production under vegan conditions. Additionally, dark chocolate has generally been associated with antioxidant contents and perceived health benefits and is well resonating among health-conscious vegan and flexitarian consumers.
The Milk and White Chocolate segment will grow at the highest CAGR between 2024 and 2032. This is because there has been increasing innovation in plant-based milk alternatives such as oat, almond, and coconut that allow for creamy, dairy-free formulations that appeal to consumers who would love to taste traditional milk and white chocolates in vegan-friendly versions.
By Distribution Channel: Supermarkets/Hypermarkets accounted for the highest market share in 2023. Such stores provide a wide variety of vegan chocolate products in one place where customers can view them in-store and buy them immediately. Supermarkets and hypermarkets also have high turnovers whereby vegan chocolate brands can easily access mainstream consumers through this sales channel.
Online Stores are expected to have the highest CAGR growth from 2024 and 2032. The increasing adoption of e-commerce combined with the convenience of shopping from home, access to a wider range of brands, and often lower prices compared to traditional stores contribute to growth. Online channels also help brands reach specific demographics through personalized ads and social media marketing, both dedicated vegans and the new and growing flexitarian.
By Chocolate Type
.Milk Chocolate & White Chocolate
.Raw Chocolate
.Dark Chocolate
By Distribution Channel
.Supermarkets/Hypermarkets
.Convenience Stores
.Online Stores
.Other
Do you have any specific any queries or need customization research on Vegan Chocolate Market, Inquire now @
Europe Leads Vegan Chocolate Market as Asia Pacific Surges Ahead
In 2023, Europe has the largest market for vegan chocolate, holding 38% of the market revenue. This reflects Europe's vast base of vegan and health-conscious consumers, the established infrastructure for vegan food, and the regulatory environment in place to encourage the consumption of plant-based products. Significant shifts toward sustainable and ethical consumption and demand for vegan chocolate alternatives have been experienced by European countries, mainly those in Western Europe.
Asia Pacific region is expected to see the highest growth from 2024 to 2032, in terms of CAGR. Growth due to awareness about plant-based diets, growth in disposable incomes, and expansion of the middle-class segment focusing on health and wellness are supporting the growth. Further, the growing acceptance of younger population segments across countries such as China, Japan, and India of veganism and flexitarianism also fuels the growth.
Buy Now Enterprise-User PDF of Vegan Chocolate Market @
Recent Developments:
.In October 2024, Aldi's Moser Roth introduces two new vegan chocolate flavors: Cookie Crunch and Caramel Sea Salt, blending smooth vegan chocolate with cookie pieces and caramel with sea salt.
.In February 2024, The 2024 Oscars Gift Bag adds an eco-friendly touch with Fetcha Chocolates. This themed box of 20 handmade, vegan chocolates will be included in luxury gift bags for this year's nominees and directors.
Table of Contents
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
6. Competitive Landscape
8. Vegan Chocolate Market, By Chocolate Type
9. Vegan Chocolate Market, By Distribution Channel
10. Regional Analysis
11. Company Profile
12. Use Cases and Best Practices
13. Conclusion
Need more insights on Vegan Chocolate Market, Request an Analyst Call @
About Us
SNS Insider stands out as a distinguished market research and insights firm, boasting numerous accolades and a sterling reputation for excellence in service and strategy. Serving as your strategic ally, we specialize in reshaping challenges and uncovering solutions to even the most complex business dilemmas. Harnessing the power of expertise and interpersonal connections, we drive profound consumer insights and elevate client experiences. When you engage our services, you embark on a journey with seasoned and adept professionals. We prioritize collaboration with our clients, recognizing the paramount importance of tailoring each project to their unique requirements. After all, nobody comprehends your customers or community better than you do. Hence, our team adeptly crafts the right inquiries that resonate with your audience, ensuring the collection of unparalleled information.
Contact Us:
Akash Anand – Head of Business Development & Strategy
...
Phone: +1-415-230-0044 (US)
Akash Anand
SNS Insider Pvt. Ltd
415-230-0044
email us here
Visit us on social media:
Facebook
X
LinkedIn
Instagram
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability
for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this
article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
MENAFN27112024003118003196ID1108931291
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.