The Asia Pacific Vegan Chocolate Market would witness market growth of 13.2% CAGR during the forecast period (2023-2030). In the year 2021, the Asia Pacific market's volume surged to 3,238.5 tonnes, showcasing a growth of 6.7% (2019-2022).
The majority of consumers prefer to adopt a healthier lifestyle and diet. This is bolstered by manufacturers creating chocolates with less sugar and dairy-free milk alternatives, such as hazelnut, cashew nut, and oats. The increasing awareness of animal cruelty and the rising demand for reducing the consumption of dairy-based products among animal rights organizations have increased awareness of vegan diets and products.
Dietitians encourage the consumption of products that promote health and sustainability, and plant-based chocolates fit readily into these categories. Consumers are looking for items that meet their diets; thus, this provides a guilt-free delight for consumers who want to enjoy chocolate while adhering to their dietary preferences. It contributes to the expansion of the market. There is a growing demand due to several factors, including health concerns, ethical considerations, and environmental awareness.
Consumers are increasingly looking for alternatives to traditional chocolate made with dairy. The prevalence of lactose intolerance, dairy allergies, and dietary restrictions has led individuals to explore vegan chocolates as a safe and enjoyable alternative. A growing awareness of animal welfare issues in the dairy and cocoa sectors has prompted consumers to pursue chocolate products devoid of animal-derived components.
As health awareness increases, consumers in Asia Pacific seek healthier food options. Vegan chocolates, often perceived as a healthier alternative to traditional dairy chocolate, align with this preference. They have fewer additives and are often lower in saturated fat and cholesterol. As per USDA, the development of Japan Agricultural Standards (JAS) for processed vegetarian and vegan meals, as well as food services, has been started in Japan. The creation of new voluntary government standards in Japan is likely influenced by the certification requirements for vegetarian and vegan products set by overseas non-governmental organizations. The Asia Pacific region's rising health and wellness consciousness is significantly impacting the market.
The China market dominated the Asia Pacific Vegan Chocolate Market, by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $141.8 Million by 2030. The Japan market is estimated to grow at a CAGR of 12.4% during (2023 - 2030). Additionally, The India market would register a CAGR of 13.9% during (2023 - 2030).
Based on Distribution Channel, the market is segmented into Supermarkets/Hypermarkets, Convenience Stores, Specialty Stores, Online Stores, and Others. Based on Type, the market is segmented into Dark, Milk, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Global Vegan Chocolate Market is Predict to reach $1.8 Billion by 2030, at a CAGR of 12.4%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include The Hershey Company (Hershey Trust Company), Nestle S.A, Mars, Inc., Alter Eco (Nextworld Evergreen), Mondelez International, Inc., The Barry Callebaut Group, Plamil Foods Ltd, Lindt & Sprungli AG, Ludwig Weinrich GmbH & Co. KG, and Purdys Chocolatier
By Distribution Channel (Volume, Tonnes, USD Million, 2019-2030)
By Type (Volume, Tonnes, USD Million, 2019-2030)
By Country (Volume, Tonnes, USD Million, 2019-2030)
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