The global Vegan Chocolate Confectionery Market is valued at USD 612.1 Million in 2022 and is projected to reach a value of USD 1921.2 Million by 2030 at a CAGR (Compound Annual Growth Rate) of 15.2% between 2023 and 2030.
Consumers are increasingly seeking healthier and more sustainable alternatives to traditional chocolate products. According to a study from the Federal Ministry of Food and Agriculture, about 35% of the population see the availability of vegetarian or vegan products as very important, and 63% of Germans are trying to reduce their meat consumption, making the country one of the most vegetarian places in the world. Further, a recent study by Proveg International, an international food awareness organization, reveals that there are 1.3 million vegans and 8 million vegetarians across Germany.
According to WHO, a plant-based diet is recommended for a healthy lifestyle. Such diets are widely associated with a lower risk of premature mortality and offer protection against noncommunicable diseases (NCDs). For example, the European Region has the greatest NCD-related morbidity and mortality burden, at almost 90% of all deaths. Overweight and obesity are major NCD risk factors and affect over 59% of adults and 29% of children in the European Region. Globally, one in every five deaths in adults is associated with unhealthy diet. Thus changing consumer trends towards a vegan lifestyle because of its health benefits contributed to the market’s growth in recent years. Furthermore, manufacturers are continuously introducing new and innovative flavors and ingredients in Vegan Chocolate Confectionery products to cater to evolving tastes and preferences of consumers. This has helped in attracting a wider consumer base. For instance, Georgia Ramon Vegane Kokos-Choci & Rote Bete (Beetroot & Coconut Vegan Chocolate) is an organic bean-to-bar product made of coconut flour, air-dried beetroot juice powder, and refined with roasted coconut chips. Likewise, Mars Incorporated, the world's leading manufacturer of chocolate, partnered with Perfect Day Inc., a food technology startup company, to launch CO2COA, its first-ever animal-free, lactose-free, and early-friendly product in the U.S.
Vegan Chocolate Confectionery Market Size, 2022 To 2030 (USD Million)
- North America accounted for the largest growth, with a revenue share of 38.2% in 2022.
- The Asia Pacific region is expected to dominate the market during the forecast period.
- Based on Product, Molded Bars segment accounted for the largest market growth and contributed more than 39.5% of the total revenue share in 2022.
- Based on Type, the Milk segment revealed the most significant market growth and contributed more than 41.8% of the total revenue share in 2022.
- Based on Distribution Channel, the Supermarkets/Hypermarkets segment accounted for the potential market growth with more than 39.6% of the total revenue share in 2022.
The economic changes that have occurred globally, such as the COVID-19 pandemic, have also impacted the Vegan Chocolate Confectionery market. With people spending more time at home, there has been a surge in home-based baking and cooking, leading to an increased demand for ingredients, including Vegan Chocolate Confectionery. In addition, the supply chain for Vegan Chocolate Confectionery is similar to that of traditional chocolate products. It typically involves sourcing cocoa beans, processing and manufacturing chocolate, packaging, distribution, and retail sales. However, vegan products must ensure that every ingredient used is plant-based and free from animal-derived components, such as milk or butter.
Report Coverage & Deliverables
- Real-Time Data Updates:
- Competitor Benchmarking
- Market Trends Heatmap
- Custom Research Queries
- Market Sentiment Analysis
- Demographic and Geographic Insights
Top Market Trends
- Increasing demand for premium and artisanal vegan chocolates: There is a rising demand for premium and artisanal vegan chocolates made from high-quality ingredients. Consumers are willing to pay a premium for chocolate products that are handcrafted, ethically sourced, and environmentally sustainable. For instance, sustainable oat milk chocolate brand H!P (Happiness in Plants) expanded its series with a new Berry Crunch white chocolate vegan-friendly bar. In addition, artisanal vegan chocolate manufacturers are capitalizing on this trend by introducing unique flavors and packaging that appeal to health-conscious and eco-friendly consumers.
- The growing trend towards CBD-infused chocolate confectionery: Cannabidiol (CBD) is a cannabis-active component known for its medical and therapeutic qualities. CBD-infused chocolate confectionery is becoming increasingly popular among consumers looking for a natural and organic way to manage their stress, anxiety, and other health issues. CBD-infused vegan chocolates are also sought after by those who want to enjoy the benefits of cannabis without the psychoactive effects of THC.
- Innovative packaging and product designs: Innovative packaging and product designs are becoming increasingly important in the Vegan Chocolate Confectionery industry. Manufacturers focus on creating products that stand out on store shelves, such as chocolate bars with unique patterns or shapes. For instance, Ritter Sport Halbbitter-Schokolade Mandel Quinoa (Dark Chocolate with Almonds & Quinoa) has been repackaged with a new look. The product is suitable for vegans and comprises bitter-sweet chocolate with a minimum 50% cocoa content with whole almonds, hazelnut mass, and quinoa crisps. Environmentally sustainable materials, such as biodegradable or compostable packaging, are becoming more popular among health-conscious consumers.
The global Vegan Chocolate Confectionery market can be categorized as Product, Type, Distribution Channel, and Region. The market can be categorized into Boxed, Molded Bars, Chips & Bites, and Truffles & Cups, based on the segment Product. Furthermore, based on the Type segment, the market is fragmented into Milk, Dark, and White. In addition, based on the Distribution Channel segment, the market can be further split into Supermarkets/Hypermarkets, Convenience stores, Online Stores, and Other Distribution Channels. Likewise, based on Region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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Based on Product
Molded Bars to Express Maximum Market Share Due to the Rising Demand for Vegan Products
In 2022, molded bars dominated the market. Molded Bars are among the most popular Vegan Chocolate Confectionery products, and their demand has increased exponentially due to the rise of veganism. Molded Bars are typically made of high-quality vegan ingredients like dark chocolate, nuts, and dried fruits with minimal usage of additives and preservatives. This makes them a more natural and healthier choice for consumers. With health concerns on the rise, many consumers prefer to choose organic and natural food products that are perceived to be more beneficial.
Based on Type
Milk to Mention Maximum Market Share Because of its Health and Wellness Benefits
In 2022, the Milk segment accounted for the most significant growth. Milk chocolate is a staple in the confectionery industry but is not vegan. Vegan milk chocolate, made from plant-based ingredients, is a healthier alternative as it contains less sugar and saturated fat than traditional milk chocolate. For instance, Mondelez International introduced a new vegan chocolate bar in the UK called the Cadbury Plant Bar. The new plant-based offering is inspired by Cadbury’s Dairy Milk, one of the region's most well-known chocolate bar options.
Based on Distribution Channel
Supermarkets/Hypermarkets Account for Maximum Market Growth Owing to the Easy Convenience and Availability of a Wide Range of Products
The supermarkets/Hypermarkets segment mentioned the maximum growth of the market in 2022. Supermarkets/Hypermarkets offer a one-stop solution for all grocery needs. Customers can purchase regular groceries and easily find various Vegan Chocolate Confectionery products in one place. For instance, Wicked Kitchen, a vegan brand in the UK, launched its first-ever vegan cupcakes through Tesco supermarkets in the UK in June 2020. This convenience factor has led to the growth in sales of Vegan Chocolate Confectionery products.
Based on Region
North America to Dominate Global Sales Owing to Increasing Demand for Plant-Based Food Products
In 2022, North America had the most significant revenue share. There is a growing demand for plant-based products in North America due to animal welfare, environmental, and sustainability concerns. As a result, more consumers are turning to vegan diets and seeking products aligned with their ethical and environmental values. For instance, according to International Food Information Council and the American Heart Foundation, in 2022, 43% of Americans claimed always to be looking for healthy options when shopping, while 52% said they were at least sometimes scouting for healthy foods.
During the projection period, Asia Pacific is expected to grow fastest. There has been a growing awareness of health and wellness issues in the region. Consumers are becoming more conscious of the impact of their diet on their health. They are looking for healthier alternatives to traditional chocolate confectionery that can be high in sugar, calories, and fat. Vegan Chocolate Confectionery is perceived as a healthier option, as it is typically made using natural ingredients, has lower sugar and fat content, and is often free from preservatives and artificial additives.
The leading players in the Vegan Chocolate Confectionery market are key in driving growth by introducing innovative products, investing in marketing and distribution, and maintaining high product quality standards. The leading players in the Vegan Chocolate Confectionery market are known for their innovation in product development. They introduce new flavors, textures, and packaging designs that appeal to consumers' changing tastes and preferences. This helps to keep the market fresh and exciting.
The key players in the global Vegan Chocolate Confectionery market include - Mondelēz International (U.S.), Nestle SA (Switzerland), Tofutti Brands Inc. (U.S.), Plamil Foods Ltd. (UK), Barry Callebaut (Switzerland), Nest Endangered (U.S.), Species Chocolatele (U.S.), Endorfin Foods (U.S.), Goodio (Finland), Montezumas Direct Ltd. (UK), Alter Eco (U.S.), Equal Exchange Cooperation (U.S.), Chocoladefabriken Lindt & Sprüngli AG (Switzerland) among others.
Recent Market Developments
- June 2023: Barry Callebaut has unveiled Callebaut NXT and SICAO Zero, which are designed to provide consumers with choices that support health without sacrificing indulgence.
- May 2023: Mondelēz International’s snack futures announced the third cohort of brands to participate in a collab start-up program. This start-up is taking a unique approach to making snacks delicious, focusing on those that can strengthen Mondelēz International’s core businesses and offer the potential to explore new ones.
- May 2023: PlantX Life Inc., the digital face of the plant-based community, operating a one-stop shop for plant-based products, announced that it has added Tofutti Brands Inc. ("Tofutti") to its growing roster of brands adopting its e-commerce fulfillment solutions through a new integrated partnership.
- April 2023: Hershey's has added two new products, Reese's peanut butter cups and a Hershey salted almond chocolate bar, made without dairy.
Segmentation of the Global Vegan Chocolate Confectionery Market
- Product (Boxed, Molded Bars, Chips & Bites, Truffles & Cups)
- Type (Milk, Dark, White)
- Distribution Channel (Supermarkets/Hypermarkets, Convenience stores, Online Stores, Other Distribution Channels)
- Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa)
|Regions & Countries Covered
- North America - (U.S., Canada, Mexico)
- Europe - (U.K., France, Germany, Italy, Spain, Rest Of Europe)
- Asia Pacific - (China, Japan, India, South Korea, South East Asia, Rest Of Asia Pacific)
- Latin America - (Brazil, Argentina, Rest Of Latin America)
- Middle East & Africa - (GCC Countries, South Africa, Rest Of Middle East & Africa)
- Mondelēz International (U.S.)
- Nestle SA (Switzerland)
- Tofutti Brands Inc. (U.S.)
- Plamil Foods Ltd. (UK)
- Barry Callebaut (Switzerland)
- Nest Endangered (U.S.)
- Species Chocolatele (U.S.)
- Endorfin Foods (U.S.)
- Goodio (Finland)
- Montezumas Direct Ltd. (UK)
- Alter Eco (U.S.)
- Equal Exchange Cooperation (U.S.)
- Chocoladefabriken Lindt & Sprüngli AG (Switzerland)
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attractiveness analysis by segments and North America, company market share analysis, and COVID-19
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