The North America Vegan Chocolate Market would witness market growth of 12.0% CAGR during the forecast period (2023-2030). In the year 2019, the North America market's volume surged to 2,980.3 tonnes, showcasing a growth of 5.9% (2019-2022).
The demand for handcrafted plant-based chocolates has surged due to the rising popularity of veganism and the desire for high-quality plant-based food options. As gifts, decadent treats, or for special occasions, consumers are increasingly seeking artisanal chocolates. Additionally, the growing disposable incomes of middle-class consumers help to increase the sales of artisanal chocolates. These varieties are frequently mixed with nuts, fruits, alcohol, and other ingredients to enhance the richness of premium chocolates.
The availability and variety of vegan chocolates have increased considerably over time. Several chocolate producers provide a range of vegan options or have specific vegan product lines. This increased availability has made it simpler for consumers to seek them in grocery stores, specialty shops, and online retailers, attracting more consumers. In addition, advances in constituent sourcing, manufacturing techniques, and the incorporation of essential nutrients have substantially enhanced the flavor and quality of these chocolates. For instance, the U.S.-based Functional Chocolate Company introduced its ethically sourced chocolate and nutraceuticals in January 2022. The new vegan dark chocolate line combines nutrients like vitamins, minerals, botanicals, and amino acids that support several common health concerns, including stress, sleep, and other activities.
The growing affinity for plant-based diets significantly contributes to the augmenting market growth of plant-based products, including vegan chocolates, in North America. More consumers in North America are adopting plant-based diets for various reasons, including health, environmental concerns, and animal welfare. For instance, the United States Department of Agriculture's 2015-2020 Dietary Guidelines for Americans promotes a vegetarian diet as a healthy dietary pattern. As consumer preferences and dietary habits evolve, the plant-based food industry will likely see sustained growth in the region. Therefore, the affinity for plant-based diets in North America is a strong driver of market growth for vegan chocolates.
The US market dominated the North America Vegan Chocolate Market, by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $377.6 Million by 2030. The Canada market is estimated to witness a CAGR of 14.5% during (2023 - 2030). Additionally, The Mexico market would showcase a CAGR of 13.5% 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 U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The 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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