Vegan Chocolate Market 2022-2028

Description

List of Tables

Title:Global Vegan Chocolate Market Size, Share &Trends Analysis Report by Product Type (Dark, White, and Other), by Flavor Type (Caramel, Brown Butter, Coconut Milk, and Other Flavor), and by Distribution Channel (Online and Offline) Forecast (2022-2028).

The global vegan chocolate market is anticipated to grow at a significant CAGR of 12.6% during the forecast period. The increasing dental problems in kids due to the high consumption of traditional chocolates alters people's preference for traditional chocolates and increases the demand for vegan chocolate which supports the market growth. Some of the prevalent dental issues in children include tooth decay, sensitivity, gum diseases, orthodontic problems, dental anxiety, and phobias. According to THE Dental Health Organization, around 23%, one-in-four of 5-year-olds in 2019 have had dental decay.

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 distribution channel, the online sub-segment is expected to hold a prominent share in the growth of the global vegan chocolate market. The use of online platforms has increased during the forecast period. People prefer to purchase online as it saves time and delivers at the doorstep which is more convenient compared with offline buying. Many companies sell their products through their official website and other online platforms such as Amazon, Flipkart, and more. For instance, in March 2021, an Indian brand MilkinOats launched vegan milk chocolate made with oat milk called Chalet Chokolad. The chocolates are available on Amazon, Flipkart, Vegan Dukan, Vegan Mall, Vvegano, and the brand's website.

Geographically, the global vegan chocolate market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. The Europe region is expected to be the fastest-growing region in the global vegan chocolate market during the forecast period due to the increasing adoption of a vegan diet among the population. Rising awareness about animal cruelty among European consumers had increased the consumption of vegan food products over the past few years. According to the Good Food Institute, the sales of plant-based foods grew three times faster than overall food sales in 2021.

The major companies serving the global vegan chocolate market include Alfred Ritter GmbH & Co. KG (Ritter Sport), Chocoladefabriken Lindt & Sprungli 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 September 2021, Hershey's launched its first ever vegan chocolate made with oat milk in two flavors, Classic Dark and Extra Creamy Almond & Sea Salt.

Research Methodology

The market study of the global vegan chocolate market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to break down the market into various segments, and derive the total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives as possible, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.

Secondary Sources Include:

Financial reports of companies involved in the market.

Whitepapers, research papers, and news blogs.

Company websites and their product catalog.

The report provides an in-depth analysis of the market size, and intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.

Market Segmentation

Global Vegan Chocolate Market Research and Analysis by Product Type.
Global Vegan Chocolate Market Research and Analysis by Flavor Type.
Global Vegan Chocolate Market Research and Analysis by Distribution Channel.

The Report Covers:

Comprehensive research methodology of the global vegan chocolate market.
This report also includes a detailed and extensive market overview with key analyst insights.
An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
Analysis of regional regulations and other government policies impacting the global vegan chocolate market.
Insights about market determinants that are stimulating the global vegan chocolate market.
Detailed and extensive market segments with the regional distribution of forecasted revenues.
Extensive profiles and recent developments of market players.

Product Code: OMR2026875

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 & Sprungli 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. Mondelez 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