The global vegan chocolate market is set to witness growth at a CAGR of 15.5% and top a valuation of US$ 4.0 Bn by 2032. Chocolate in its pure form is said to be a vegan product only as the raw product maid from cocoa is a plant-based food. However, the cacao is subjected to extensive processing, including the addition of chemicals and milk or milk fat, making it an animal-based product. When it comes to the conditions and environment in which animals are raised, consumers are becoming increasingly sensitive and sympathetic. Because of animal welfare issues, they are increasingly choosing plant-based items, particularly plant-based chocolates. Vegan chocolate is manufactured without dairy milk, which many people today believe is a major source of environmental problems. Crops can be used to make chocolates with a milk base. This would assist in addressing environmental concerns and drive the vegan chocolates market. Market Size Value in 2022
USD 1.0 Bn
Market Forecast Value in 2032
USD 4.0 Bn
Global Growth Rate (2022 to 2032)
~ 15.5% CAGR
Forecast Period
2022-2032
Collective Value Share: Top 3 Countries (2021A)
48.20%
Vegan chocolates are significantly more natural, healthier, and delicious than other chocolates made with artificial ingredients and cheap animal fat. Further, inclusion of new international flavours in vegan chocolate is propelling its demand more than ever. Casa Kakau brand is making vegan chocolates such as Cardamom Craft Chocolate and Bulgarian Rose Water chocolate, which is hand-crafted bean-to-bar chocolate from original cocoa beans. The vegan chocolate is matured and has been stone ground like traditional chocolate. Another example is from Veganz Waffel brand which produces crunchy wafer bits chocolate with rice syrup powder, in which the couverture chocolate is given an interesting crunchy texture. The product retails in an 80g eco pack, which is made with compostable material, and further, the pack is printed with mineral oil-free ink. Key Takeaways from Market Study
The vegan chocolate market is worth of USD 1.0 Bn sales in 2022.
The vegan chocolate market is expected to expand at CAGRs of 5% through 2032.
Global vegan chocolate demand is projected to grow year-on-year (Y-o-Y) growth of 7% in 2022.