Market Trends of Vegan Chocolate Industry
This section covers the major market trends shaping the Vegan Chocolate Market according to our research experts:
Increasing Affinity for Plant-based Diet
According to Dietetics and the British Dietetic Association and the American Academy of Nutrition, a well-planned vegan diet, which adheres to healthy eating guidelines, provides all the nutrients that a body requires and is suitable for people of all ages and stages of life. Consumers these days are looking out for health benefits before they buy any consumable products. For instance, in a survey published by the International Food Information Council and the American Heart Foundation in 2021, 43% of Americans claimed to always be on the lookout for healthy options when shopping, while 52% said they were at least sometimes scouting for healthy foods. Most consumers around the world are choosing to switch to a healthy lifestyle and an even healthier diet and this is supported by the chocolatiers making chocolates with less sugar, without dairy, and making milk chocolate with dairy-free milk like hazelnut, cashew nut, oats, etc. which is giving a cleaner, healthier, and less cloying experience. In addition, vegan chocolates contain antioxidants that give them anti-aging properties and are usually found in fruits, vegetables, grains, and nuts. Such health benefits offered by vegan chocolates are attracting consumers as manufacturers are offering products without compromising on taste and not cutting on their health.
Europe Holds The Largest Market Share
The vegan chocolate market in Europe has registered significant growth in the recent past due to the ongoing acceptance of the vegan diet among the region's population. Health-conscious consumers are increasingly choosing vegan or flexitarian diets as a part of a healthy lifestyle. 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. This in turn has contributed to the demand for vegan chocolate in European markets.
Moreover, festivals like Easter which is grandly celebrated in Europe are also boosting the sales of vegan chocolates as chocolates and confectionery are widely favored gifting items in the European culture. With the expanding veganism trend, consumers prefer vegan chocolates the most on such occasions which are creating substantial opportunities for the market players. Manufacturers have responded to the growing interest in plant-based diets by delivering Easter vegan chocolate and Easter-themed treats that attract customers. For instance, Lindt makes a vegan-friendly dark chocolate gold rabbit, and Divine released its new vegan dark chocolate egg with crisp mint.
