Vegan Chocolate Market by Chocolate Type (Milk Chocolate and White Chocolate, Dark Chocolate, and Others), Nature (Organic, Conventional), Sales Channel (B2B, B2C), and Region 2023-2028

Vegan Chocolate Market by Chocolate Type (Milk Chocolate and White Chocolate, Dark Chocolate, and Others), Nature (Organic, Conventional), Sales Channel (B2B, B2C), and Region 2023-2028

Report Format: PDF+Excel | Report ID: SR112023A8140
Year End sale Buy Now

Market Overview:

The global vegan chocolate market size reached US$ 1.06 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 2.02 Billion by 2028, exhibiting a growth rate (CAGR) of 11.30% during 2023-2028. The emerging trend of veganism, the growing prevalence of lactose intolerance and other food-related allergies, and the introduction of uniquely flavored chocolate variants represent some of the key factors driving the market.

Report Attribute                                                            
 Key Statistics                   
Base Year
2022 
Forecast Years
2023-2028
Historical Years
2017-2022
Vegan Chocolate Market Size in 2022 US$ 1.06 Billion
Vegan Chocolate Market Forecast in 2028 US$ 2.02 Billion
Vegan Chocolate Market Growth Rate 2023-2028 11.30%


Vegan chocolate is a type of chocolate that does not contain any animal-derived ingredients. It is made with plant-based ingredients such as cocoa butter, cocoa solids, and sweeteners like coconut sugar or agave nectar. It does not contain dairy products such as milk, eggs, or honey and has a slightly different taste than conventional chocolate due to the presence of plant-based ingredients like rice, oats, or coconut. It is widely consumed by individuals following a vegan diet or having lactose intolerance. It also serves as a great option for environmentally conscious consumers, as it has a smaller carbon footprint compared to conventional chocolates. Moreover, it is available in various forms, including dark chocolate, milk chocolate, and white chocolate that are made with higher percentage of cocoa solids, less sugar, plant-based milks and other ingredients. Nowadays, various brands offer a wide variety of vegan chocolate products, including chocolate bars, truffles, and chocolate chips for baking. As a result, vegan chocolate is gaining popularity among consumers across the globe.

Global Vegan Chocolate Market

Vegan Chocolate Market Trends:

The market is primarily driven by the emerging trend of veganism, especially among the millennial population across the globe. As more consumers are adopting vegan and plant-based diets, there has been a growing demand for vegan chocolates that do not contain animal-derived ingredients. In addition, the increasing prevalence of lactose intolerance and food allergies among individuals represents another major growth-inducing factor. Vegan chocolate does not contain eggs, milk, butter, milk powder, or honey, making it suitable for consumers who cannot consume dairy. Besides this, with the rising environmental awareness, consumers are becoming conscious about the impact of food production on the planet. Consequently, they are adopting vegan chocolates as they are made with sustainably sourced ingredients and have a smaller carbon footprint than traditional chocolates. Moreover, the growing awareness regarding animal cruelty and the implementation of environmental protection campaigns are also accelerating the product adoption rate across the globe. Furthermore, the escalating demand for organic vegan chocolate, the introduction of innovative flavored products by key players, and the rising disposable incomes of consumers are some of the other factors creating a favorable market outlook across the globe.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global vegan chocolate market, along with forecasts at the global, regional, and country levels from 2023-2028. Our report has categorized the market based on chocolate type, nature, and sales channel.

Chocolate Type Insights:

  • Milk Chocolate and White Chocolate
  • Dark Chocolate
  • Others
     

The report has provided a detailed breakup and analysis of the vegan chocolate market based on the chocolate type. This includes milk chocolate and white chocolate, dark chocolate, and others. According to the report, dark chocolate represented the largest segment.

Nature Insights:

  • Organic
  • Conventional
     

A detailed breakup and analysis of the vegan chocolate market based on the nature has also been provided in the report. This includes organic and conventional. According to the report, conventional accounted for the largest market share.

Sales Channel Insights:

  • B2B
  • B2C
    • Supermarkets and Hypermarkets
    • Convenience Stores
    • Online Stores
    • Others
       

The report has provided a detailed breakup and analysis of the vegan chocolate market based on the sales channel. This includes B2B and B2C (supermarkets and hypermarkets, convenience stores, online stores, and others). According to the report, B2C represented the largest segment.

Regional Insights:

  • North America
    • United States
    • Canada
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa
     

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Europe was the largest market for vegan chocolate. Some of the factors driving the Europe vegan chocolate market include the growing trend of veganism, the introduction of innovative product variants, the rising environmental concerns among the masses, etc.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global vegan chocolate market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include Alter Eco, Barry Callebaut AG, Chocoladefacriken Lindt & Sprungli AG, Chocolove, Endangered Species Chocolate, LLC, Goodio, Hu Kitchen (Mondelez International), Montezuma's Chocolate Limited, No Whey Chocolates, LLC, Plamil Foods Ltd., Sjaak’s, Theo Chocolate, Inc., etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Report Coverage:

Report Features Details
Base Year of the Analysis 2022
Historical Period 2017-2022
Forecast Period 2023-2028
Units US$ Billion
Scope of the Report Exploration of Historical and Forecast Trends, Industry Catalysts and Challenges, Segment-Wise Historical and Predictive Market Assessment: 
  • Chocolate Type
  • Nature
  • Sales Channel
  • Region
Chocolate Types Covered Milk Chocolate and White Chocolate, Dark Chocolate, Others
Natures Covered Organic, Conventional
Sales Channels Covered
  • B2B
  • B2C: Supermarkets and Hypermarkets, Convenience Stores, Online Stores, Others
Regions Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Alter Eco, Barry Callebaut AG, Chocoladefacriken Lindt & Sprungli AG, Chocolove, Endangered Species Chocolate, LLC, Goodio, Hu Kitchen (Mondelez International), Montezuma's Chocolate Limited, No Whey Chocolates, LLC, Plamil Foods Ltd., Sjaak’s, Theo Chocolate, Inc., etc.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Key Questions Answered in This Report:

  • How has the global vegan chocolate market performed so far, and how will it perform in the coming years?
  • What are the drivers, restraints, and opportunities in the global vegan chocolate market?
  • What is the impact of each driver, restraint, and opportunity on the global vegan chocolate market?
  • What are the key regional markets?
  • Which countries represent the most attractive vegan chocolate market?
  • What is the breakup of the market based on the chocolate type?
  • Which is the most attractive chocolate type in the vegan chocolate market?
  • What is the breakup of the market based on the nature?
  • Which is the most attractive nature in the vegan chocolate market?
  • What is the breakup of the market based on sales channel?
  • Which is the most attractive sales channel in the vegan chocolate market?
  • What is the competitive structure of the global vegan chocolate market?
  • Who are the key players/companies in the global vegan chocolate market?

Key Benefits for Stakeholders:

  • IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the vegan chocolate market from 2017-2028.
  • The research study provides the latest information on the market drivers, challenges, and opportunities in the global vegan chocolate market.
  • The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
  • Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the vegan chocolate industry and its attractiveness.
  • Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.

Need more help?

  • Speak to our experienced analysts for insights on the current market scenarios.
  • Include additional segments and countries to customize the report as per your requirement.
  • Gain an unparalleled competitive advantage in your domain by understanding how to utilize the report and positively impacting your operations and revenue.
  • For further assistance, please connect with our analysts.
Vegan Chocolate Market by Chocolate Type (Milk Chocolate and White Chocolate, Dark Chocolate, and Others), Nature (Organic, Conventional), Sales Channel (B2B, B2C), and Region 2023-2028
Purchase options Year End sale



Benefits of Customization

Personalize this research

Triangulate with your data

Get data as per your format and definition

Gain a deeper dive into a specific application, geography, customer, or competitor

Any level of personalization

Get in Touch With Us
UNITED STATES

Phone: +1-631-791-1145

INDIA

Phone: +91-120-433-0800

UNITED KINGDOM

Phone: +44-753-713-2163

Email: sales@imarcgroup.com

Client Testimonials

Aktive Services

IMARC made the whole process easy. Everyone I spoke with via email was polite, easy to deal with, kept their promises regarding delivery timelines and were solutions focused. From my first contact, I was grateful for the professionalism shown by the whole IMARC team. I recommend IMARC to all that need timely, affordable information and advice. My experience with IMARC was excellent and I can not fault it.

Read More
Greenfish S.A.

The IMARC team was very reactive and flexible with regard to our requests. A very good overall experience. We are happy with the work that IMARC has provided, very complete and detailed. It has contributed to our business needs and provided the market visibility that we required

Read More
Colruyt Group

We were very happy with the collaboration between IMARC and Colruyt. Not only were your prices competitive, IMARC was also pretty fast in understanding the scope and our needs for this project. Even though it was not an easy task, performing a market research during the COVID-19 pandemic, you were able to get us the necessary information we needed. The IMARC team was very easy to work with and they showed us that it would go the extra mile if we needed anything extra

Read More
KRISHAK BHARTI CO-OP LTD

Last project executed by your team was as per our expectations. We also would like to associate for more assignments this year. Kudos to your team.

Read More
Zee Media Corp. Ltd.

We would be happy to reach out to IMARC again, if we need Market Research/Consulting/Consumer Research or any associated service. Overall experience was good, and the data points were quite helpful.

Read More
Arabian Plastic Manufacturing Company Ltd.

The figures of market study were very close to our assumed figures. The presentation of the study was neat and easy to analyse. The requested details of the study were fulfilled. My overall experience with the IMARC Team was satisfactory.

Read More
Sumitomo Corporation

The overall cost of the services were within our expectations. I was happy to have good communications in a timely manner. It was a great and quick way to have the information I needed.

Read More
Hameln Rds

My questions and concerns were answered in a satisfied way. The costs of the services were within our expectations. My overall experience with the IMARC Team was very good.

Read More
Quality Consultants BV

I agree the report was timely delivered, meeting the key objectives of the engagement. We had some discussion on the contents, adjustments were made fast and accurate. The response time was minimum in each case. Very good. You have a satisfied customer.

Read More
TATA Advanced Systems Limited

We would be happy to reach out to IMARC for more market reports in the future. The response from the account sales manager was very good. I appreciate the timely follow ups and post purchase support from the team. My overall experience with IMARC was good.

Read More
Stax

IMARC was a good solution for the data points that we really needed and couldn't find elsewhere. The team was easy to work, quick to respond, and flexible to our customization requests.

Read More