Vegan Chocolate Market
Vegan Chocolate Market Size, Share &Trends Analysis Report by Product Type (Dark, White, and Other), by Flavour Type (Caramel, Brown Butter, Coconut Milk, and Other Flavour), and by Distribution Channel (Online and Offline) Forecast Period (2022-2028)
Vegan chocolate market is anticipated to grow at a significant CAGR of 12.6% during the forecast period. Vegan chocolates are a healthier alternative to regular chocolate. People are consuming healthy vegan products daily and the demand for vegan chocolates increases during the forecast period which led to the growth of the vegan chocolate market across the globe. People prefer cruelty-free food products. For instance, in March 2021, MilkinOats launched vegan milk chocolate bars made with their high-fiber dairy alternative. The chocolates are available in two flavors, Chalet Velvety and Almond Crunch. The milk chocolate bars contain only natural plant-based ingredients, like vanilla, cashews, and almonds, in addition to its own-brand dairy-free oat milk alternative. However, vegan chocolates are costlier as compared to regular chocolates which restrains the growth of the global vegan chocolate market.
Segmental Outlook
The global vegan chocolate market is segmented based on product type, flavor type, and distribution channel. Based on the product type, the market is sub-segmented into dark, white, and other. Based on flavor type, the market is segmented into caramel, brown butter, coconut milk, and other flavors. Based on distribution, the market is segmented into online and offline. Among the product type, the dark vegan chocolate sub-segment is expected to hold a prominent share in the growth of the global vegan chocolate market. Further, the online sub-segment is expected to be the fastest-growing segment in the global vegan chocolate market during the forecast period.
The dark vegan chocolate sub-segment is expected to hold a prominent share in the global vegan chocolate market during the forecast period. The increasing consumption of vegan dark chocolate forced key market players to launch their product line of vegan chocolate and introduce various types of vegan chocolates in different flavors. As a result, people are increasingly attracting people to vegan chocolates which further bolsters the growth of the global vegan chocolate market. For instance, Mars, the candy manufacturer launched vegan variants of their popular Galaxy brand of milk chocolates. While there are several vegan options available in dark chocolate, this is the first time that a mainstream confectionary brand is offering vegan milk chocolate. The bars are launched in the UK and certified by the Vegan Society UK. There are 3 flavors Smooth Orange, Caramel & Sea Salt, and Caramelized hazelnut.
Regional Outlooks
The global vegan chocolate market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East &Africa, and Latin America). The market can be analyzed for a particular region or country level as per the requirement. Among these, the North American region is expected to hold a prominent share in the global vegan chocolate market during the forecast period due to the high usage of vegan chocolate in the household. Furthermore, the Asia-Pacific region is expected to be the fastest-growing region in the global vegan chocolate market.
Global Vegan chocolate Market Growth, by Region 2022-2028
North American Region is Expected to Hold a Prominent Share in the Global Vegan Chocolate Market
The North American region is expected to hold a prominent share in the growth of the global vegan chocolate market during the forecast period due to the increasing consumption of vegan food items. Regular chocolates are produced with processed sugar which is harmful to health, which pushes people to consume vegan chocolates as they don’t contain processed sugar. Additionally, the increasing cases of diabetes in the North American region have also increased the consumption of vegan chocolates. People suffering from diabetes are allowed to consume organic vegan chocolate to reduce sugar cravings without affecting their health. According to the WHO, in 2019, diabetes was the ninth leading cause of death with an estimated 1.5 million deaths directly caused by diabetes. Whereas, the National Diabetes Statistics reported 37.3 million diabetes people (11.3% of the US population), and 28.7 million people, including 28.5 million adults.
Market Players Outlook
The major companies serving the global vegan chocolate market include Alfred Ritter GmbH & Co. KG (Ritter Sport), Chocoladefabriken Lindt & Sprüngli AG, Divine Chocolate Ltd., Schmilk Chocolate by Chocolate Hollow, LLC, The Hershey Co, VGAN Chocolate, and Others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in February 2022, Cadbury launched plant-based vegan chocolate called the Cadbury Plant Bar, the chocolate comes in two flavors- Smooth Chocolate and Salted Caramel. The vegan-certified bars include a blend of cocoa, almond paste, and rice extract and promise a lusciously smooth texture and all the goodness of chocolate.
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.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.1.1. Overview
3.1.2. Financial Analysis
3.1.3. SWOT Analysis
3.1.4. Recent Developments
3.2. Key Strategy Analysis
4. Market Segmentation
4.1. Global Vegan Chocolate Market by Product Type
4.1.1. Dark
4.1.2. White
4.1.3. Others
4.2. Global Vegan Chocolate Market by Flavor
4.2.1. Caramel
4.2.2. Brown Butter
4.2.3. Coconut Milk
4.2.4. Others
4.3. Global Vegan Chocolate Market by Distribution Channel
4.3.1. Online
4.3.2. Offline
5. Regional Analysis
5.1. North America
5.1.1. US
5.1.2. Canada
5.2. Europe
5.2.1. UK
5.2.2. Germany
5.2.3. Italy
5.2.4. Spain
5.2.5. France
5.2.6. Rest of Europe
5.3. Asia-Pacific
5.3.1. China
5.3.2. India
5.3.3. Japan
5.3.4. South Korea
5.3.5. Rest of Asia-Pacific
5.4. Rest of the World
6. Company Profiles
6.1. Alfred Ritter GmbH & Co. KG (RITTER SPORT)
6.2. Alter Eco
6.3. Chocoladefabriken Lindt & Sprüngli AG
6.4. DIVINE CHOCOLATE LTD.
6.5. Endorfin Foods
6.6. Hu Master Holdings, LLC
6.7. Ludwig Weinrich GmbH & Co. KG
6.8. Mondel?z Global LLC
6.9. Newman’s Own, Inc.
6.10. Perfect Day, Inc.
6.11. Plamil Foods Ltd.
6.12. Schmilk Chocolate By Chocolate Hollow, LLC
6.13. TCHO Ventures
6.14. The Hershey Co.
6.15. The Kraft Heinz Co.
6.16. Tofutti Brands, Inc.
6.17. VGAN Chocolate
6.18. World Preservation Foundation
1. GLOBAL VEGAN CHOCOLATE MARKET RESEARCH AND ANALYSIS BY PRODUCT TYPE, 2021-2028 ($ MILLION)
2. GLOBAL DARK VEGAN CHOCOLATE MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
3. GLOBAL WHITE VEGAN CHOCOLATE MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
4. GLOBAL OTHERS VEGAN CHOCOLATE MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
5. GLOBAL VEGAN CHOCOLATE MARKET RESEARCH AND ANALYSIS BY FLAVOR, 2021-2028 ($ MILLION)
6. GLOBAL CARAMEL VEGAN CHOCOLATE MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
7. GLOBAL BROWN BUTTER VEGAN CHOCOLATE MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
8. GLOBAL COCONUT MILK VEGAN CHOCOLATE MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
9. GLOBAL VEGAN CHOCOLATE IN OTHER FLAVOR MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
10. GLOBAL VEGAN CHOCOLATE MARKET RESEARCH AND ANALYSIS BY DISTRIBUTION CHANNEL, 2021-2028 ($ MILLION)
11. GLOBAL ONLINE VEGAN CHOCOLATE MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
12. GLOBAL OFFLINE VEGAN CHOCOLATE MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
13. GLOBAL VEGAN CHOCOLATE MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
14. NORTH AMERICAN VEGAN CHOCOLATE MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
15. NORTH AMERICAN VEGAN CHOCOLATE MARKET RESEARCH AND ANALYSIS BY PRODUCT TYPE, 2021-2028 ($ MILLION)
16. NORTH AMERICAN VEGAN CHOCOLATE MARKET RESEARCH AND ANALYSIS BY FLAVOR, 2021-2028 ($ MILLION)
17. NORTH AMERICAN VEGAN CHOCOLATE MARKET RESEARCH AND ANALYSIS BY DISTRIBUTION CHANNEL, 2021-2028 ($ MILLION)
18. EUROPEAN VEGAN CHOCOLATE MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
19. EUROPEAN VEGAN CHOCOLATE MARKET RESEARCH AND ANALYSIS BY PRODUCT TYPE, 2021-2028 ($ MILLION)
20. EUROPEAN VEGAN CHOCOLATE MARKET RESEARCH AND ANALYSIS BY FLAVOR, 2021-2028 ($ MILLION)
21. EUROPEAN VEGAN CHOCOLATE MARKET RESEARCH AND ANALYSIS BY DISTRIBUTION CHANNEL, 2021-2028 ($ MILLION)
22. ASIA-PACIFIC VEGAN CHOCOLATE MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
23. ASIA-PACIFIC VEGAN CHOCOLATE MARKET RESEARCH AND ANALYSIS BY PRODUCT TYPE, 2021-2028 ($ MILLION)
24. ASIA-PACIFIC VEGAN CHOCOLATE MARKET RESEARCH AND ANALYSIS BY FLAVOR, 2021-2028 ($ MILLION)
25. ASIA-PACIFIC VEGAN CHOCOLATE MARKET RESEARCH AND ANALYSIS BY DISTRIBUTION CHANNEL, 2021-2028 ($ MILLION)
26. REST OF THE WORLD VEGAN CHOCOLATE MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
27. REST OF THE WORLD VEGAN CHOCOLATE MARKET RESEARCH AND ANALYSIS BY PRODUCT TYPE, 2021-2028 ($ MILLION)
28. REST OF THE WORLD VEGAN CHOCOLATE MARKET RESEARCH AND ANALYSIS BY FLAVOR, 2021-2028 ($ MILLION)
29. REST OF THE WORLD VEGAN CHOCOLATE MARKET RESEARCH AND ANALYSIS BY DISTRIBUTION CHANNEL, 2021-2028 ($ MILLION)
1. GLOBAL VEGAN CHOCOLATE MARKET SHARE BY PRODUCT TYPE, 2021 VS 2028 (%)
2. GLOBAL DARK VEGAN CHOCOLATE MARKET SHARE BY REGION, 2021 VS 2028 (%)
3. GLOBAL WHITE VEGAN CHOCOLATE MARKET SHARE BY REGION, 2021 VS 2028 (%)
4. GLOBAL OTHERS VEGAN CHOCOLATE MARKET SHARE BY REGION, 2021 VS 2028 (%)
5. GLOBAL VEGAN CHOCOLATE MARKET SHARE BY FLAVOR, 2021 VS 2028 (%)
6. GLOBAL CARAMEL VEGAN CHOCOLATE MARKET SHARE BY REGION, 2021 VS 2028 (%)
7. GLOBAL BROWN BUTTER VEGAN CHOCOLATE MARKET SHARE BY REGION, 2021 VS 2028 (%)
8. GLOBAL COCONUT MILK VEGAN CHOCOLATE MARKET SHARE BY REGION, 2021 VS 2028 (%)
9. GLOBAL VEGAN CHOCOLATE IN OTHER FLAVOR MARKET SHARE BY REGION, 2021 VS 2028 (%)
10. GLOBAL VEGAN CHOCOLATE MARKET SHARE BY DISTRIBUTION CHANNEL, 2021 VS 2028 (%)
11. GLOBAL ONLINE VEGAN CHOCOLATE MARKET SHARE BY REGION, 2021 VS 2028 (%)
12. GLOBAL OFFLINE VEGAN CHOCOLATE MARKET SHARE BY REGION, 2021 VS 2028 (%)
13. GLOBAL VEGAN CHOCOLATE MARKET SHARE BY REGION, 2021 VS 2028 (%)
14. US VEGAN CHOCOLATE MARKET SIZE, 2021-2028 ($ MILLION)
15. CANADA VEGAN CHOCOLATE MARKET SIZE, 2021-2028 ($ MILLION)
16. UK VEGAN CHOCOLATE MARKET SIZE, 2021-2028 ($ MILLION)
17. FRANCE VEGAN CHOCOLATE MARKET SIZE, 2021-2028 ($ MILLION)
18. GERMANY VEGAN CHOCOLATE MARKET SIZE, 2021-2028 ($ MILLION)
19. ITALY VEGAN CHOCOLATE MARKET SIZE, 2021-2028 ($ MILLION)
20. SPAIN VEGAN CHOCOLATE MARKET SIZE, 2021-2028 ($ MILLION)
21. REST OF EUROPE VEGAN CHOCOLATE MARKET SIZE, 2021-2028 ($ MILLION)
22. INDIA VEGAN CHOCOLATE MARKET SIZE, 2021-2028 ($ MILLION)
23. CHINA VEGAN CHOCOLATE MARKET SIZE, 2021-2028 ($ MILLION)
24. JAPAN VEGAN CHOCOLATE MARKET SIZE, 2021-2028 ($ MILLION)
25. SOUTH KOREA VEGAN CHOCOLATE MARKET SIZE, 2021-2028 ($ MILLION)
26. REST OF ASIA-PACIFIC VEGAN CHOCOLATE MARKET SIZE, 2021-2028 ($ MILLION)
27. REST OF THE WORLD VEGAN CHOCOLATE MARKET SIZE, 2021-2028 ($ MILLION)
