The Europe Vegan Chocolate Market would witness market growth of 11.6% CAGR during the forecast period (2023-2030). In the year 2020, the Europe market's volume surged to 3,455.8 tonnes, showcasing a growth of 5.5% (2019-2022).
Many consumers perceive vegan chocolate as healthier because it is often lower in saturated fats and cholesterol than traditional milk chocolate. These chocolates may also suit people with lactose intolerance or milk allergies. The market offers various products, including dark chocolate, milk chocolate alternatives (using plant-based milk like almond or soy), white chocolate alternatives, and various flavors and inclusions such as nuts, fruits, and spices. The development of new ingredients and technologies has enabled manufacturers to create vegan chocolates that closely mimic the taste and texture of traditional chocolate, helping to drive market growth further.
The market is experiencing significant growth driven by various factors, including health consciousness, ethical and environmental concerns, and increasing consumer demand. As more companies invest in product development and marketing, this market will likely expand in the coming years. It aligns with ethical and cruelty-free principles. Consumers are increasingly concerned about the environmental impact of food production. The dairy industry is resource-intensive, and many consumers consider plant-based options like vegan chocolate more sustainable. It is now more readily available in various retail outlets, including grocery stores, specialty shops, and online marketplaces. This increased accessibility has made it easier for consumers to find and purchase vegan chocolate.
European manufacturers are known for their creativity in flavor profiles and ingredient selection. Innovation in vegan chocolate includes incorporating unique and culturally inspired flavors, such as lavender, cardamom, sea salt, and exotic fruit varieties. The industry for plant-based foods has expanded swiftly over the past few years and is projected to increase by a factor of five over the next decade. Up from $29.4 billion in 2020, the demand for plant-based foods could reach $162 billion by 2030. Innovations in vegan chocolate product development are pivotal in enhancing market growth in the European region. Europe region is a significant driver of the plant-based and vegan food sector, and this trend supports the growth of the regional market.
The Germany market dominated the Europe Vegan Chocolate Market, by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $138.9 Million by 2030. The UK market is poised to grow at a CAGR of 10.6% during (2023 - 2030). Additionally, The France market would witness a CAGR of 12.5% 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 Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Vegan Chocolate Market will Hit $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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