• The vegan chocolate market was analyzed by Transparency Market Research, a market research company based in Wilmington, Delaware, USA.
The data analyzed by the company predicts that the global vegan chocolate market will register a significant growth rate, due to the increase in the number of animal welfare organizations, the increase in the vegan population and the deepening of awareness about the benefits of vegan food products. plants.
Plant-based chocolate is rich in vitamins, essential fibers and minerals, and veganism helps promote healthy eating habits and reduces the potential risks associated with harmful animal fats. Another factor behind this growing trend is growing concerns about animal welfare and the planet.
According to Transparency Market Research, the global vegan chocolate market was valued at $532,7 million in 2022 and is expected to reach a CAGR of 2032% by 10,5. Thus, it is predicted that it will reach a value of 2032 billion dollars in 2.
And Allied Market Research says the United States is now leading the way in this category as consumers become increasingly aware of health and ethical issues related to both the manufacturing process and the ingredient list.
Current Veganuary
An important role in the development of this consumption trend was also the growing popularity of the organization Vegan. Since its inception, the non-profit organization has encouraged people around the world to try to go vegan each January to offset the excesses of the winter holiday season. Veganuary continues to encourage and support both consumers and producers to switch to a plant-based diet as a way to protect the environment, prevent animal suffering and improve the health of millions.
And because manufacturers are ramping up their vegan chocolate production capacity and the adoption of veganism and plant-based diets is on the rise after more studies link vegan chocolate to lower blood pressure and cholesterol, as well as a lower incidence of of heart disease, type 2 diabetes and various cancers means we can expect to see new products "free-from" on store shelves.
Increasingly, consumers are looking for health benefits before purchasing any product. For example, in a survey published by the International Food Information Council and the American Heart Foundation in 2021, 43% of Americans said they are always looking for healthy options when shopping, while 52% said the I sometimes choose healthy foods. And since then the numbers have been growing exponentially. Following such trends, the vegan chocolate industry is also expected to continue to grow.
Major manufacturing companies are getting into the game
To analyze the competitive landscape Transparency Market Research profiled the following vegan chocolate manufacturers in its report: Barry Callebaut, Chocoladefabriken Lindt & Sprungli AG, Nestle, Endangered Species Chocolate, Alter Eco, Taza Chocolate, Theo, TCHO, Equal Exchange Coop, Goodio, Montezuma's Direct Ltd., Sjaak's, Plamil Foods Ltd., Dylan's Candy Bar and Creative Nature Ltd.
The market players mentioned above have identified the increasingly common trend of choosing vegan food, turning it into an opportunity to develop and introduce new product ranges aligned with the trend.
They have devoted significant resources to complex research and development activities, mainly to design optimal health and environment-friendly products, expanding their portfolios with innovative vegan chocolate varieties.
A range of innovative products
Since 2022, Chocoladefacriken Lindt & Sprungli has launched vegan chocolate bars made with gluten-free oat milk and almond paste on the market. This range of tablets Lindt Classic Recipe OatMilk it also hit supermarket shelves in the United States, in classic and salted caramel flavors.
Also in 2022, Nestle announced that Kit Kat V, the vegan version of its popular KitKat brand, is available in 15 European countries, after a test launch in the UK and several other countries in 2021. The milk in the original KitKat is replaced with a rice-based alternative, keeping the wafer texture crunchiness and the taste of fine chocolate that the consumer is used to.
In June 2023 Theo Chocolate announced its intention to merge with American Licorice Company (ALC). As part of ALC, Theo has joined its portfolio of organic and healthier brands such as TORIE & HOWARD® and ZING BAR®, further providing consumers with tasty, organic and ethically sourced chocolate (Fairtrade).
As the world evolves towards a more sustainable and conscious way of life, the presence and acceptance of veganism has increased worldwide, and vegan products have become not only tasty alternatives to the classic ones, but also a symbol of commitment to the environment. And vegan chocolate is not a passing trend, a fad of the moment, but turns out to be the expression of a fundamental change in our collective mentality.
Article written by Gabriela Dan, Editor of Arta Albă
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