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.
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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.
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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
Market Segmentation
Global Vegan Chocolate Market by Product Type
- Dark
- White
- Others
Global Vegan Chocolate Market by Flavor
- Caramel
- Brown Butter
- Coconut Milk
- Others
Global Vegan Chocolate Market by Distribution Channel
- Online
- Offline
Regional Analysis
- 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
Company Profiles
- Alfred Ritter GmbH & Co. KG (RITTER SPORT)
- Alter Eco
- Chocoladefabriken Lindt & Sprüngli AG
- DIVINE CHOCOLATE LTD.
- Endorfin Foods
- Hu Master Holdings, LLC
- Ludwig Weinrich GmbH & Co. KG
- Mondel?z Global LLC
- Newman’s Own, Inc.
- Perfect Day, Inc.
- Plamil Foods Ltd.
- Schmilk Chocolate By Chocolate Hollow, LLC
- TCHO Ventures
- The Hershey Co.
- The Kraft Heinz Co.
- Tofutti Brands, Inc.
- VGAN Chocolate
- World Preservation Foundation
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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