Top Companies in Vegan Chocolate Market by Size, Share, Historical and Future Data & CAGR | Report by Vantage Market Research
Vegan Chocolate Market is projected to reach a value of USD 1975.2 Million by 2028 at a CAGR of 15.1% over the forecast period.
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The Global Vegan Chocolate Market is valued at USD 849.5 Million in 2021 and is projected to reach a value of USD 1975.2 Million by 2028 at a CAGR of 15.1% over the forecast period. Vegan chocolates have gained widespread acceptance since they are seen as a healthier alternative to regular chocolates. In addition, the desire for a vegan diet is rising along with public knowledge of the negative consequences of animal cruelty and the rise in greenhouse emissions created by animals.
One of the main factors influencing the market's expansion is the rising acceptance of veganism among consumers worldwide, particularly among millennials. Additionally, the industry is expanding thanks to increased environmental conservation efforts and increased awareness of animal cruelty.
Due to their severe dietary and food preferences, vegans have a more excellent alternative to vegan chocolates than traditional chocolates. The absence of dairy ingredients like milk and animal fats makes vegan chocolates a healthier option. Traditional chocolates include processed sugar, which is bad for your health, but organic vegan chocolate doesn't, so it can help you curb your sugar cravings without doing any damage to your body. In addition to being low in fat and high in protein, vegan chocolates are also beneficial for weight loss. Additionally, vegan chocolate aids in regulating blood flow in the body and boosting the immune system. Due to the considerations above, the demand for vegan chocolates will increase more rapidly in the upcoming years.
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The Global Vegan Chocolate market is dominated by well-known players like Mondelez International (US), The Hershey Company (US), Schmilk Chocolate (Chocolate Hollow LLC) (US), Lindt & Sprüngli (Switzerland), Ritter Sport (Germany), Hu Products LLC (US), Alter Eco (US), TCHO (US), Equal Exchange COOP (US), Endorfin Foods (US), Sjaak’s (US), VGAN Chocolates (US), Divine Treasures LLC (US), and No Whey Chocolate (US) among others. To generate fresh and unique flavors for vegan chocolates, businesses are focusing on research and development. Due to its unique taste and beneficial nutritional qualities, vegan chocolate consumption has increased. Also, Businesses are putting more effort into marketing and promotional campaigns to enhance sales in the vegan chocolate sector.
Let’s Take a Look at the Top Market Players that are Captivating the Vegan Chocolate Market
- Mondelez International Inc. (US)
Mondelez International Inc. is a food & beverage company. The business produces and sells packaged food items such as snacks, drinks, cheese, quick dinners, and other packaged grocery items. Mondelez International markets its goods internationally.
- Hershey Company (US)
The Hershey Company produces confectionary items made of chocolate and sugar. The company's main offerings include sweets made of sugar and chocolate, mint-flavored gum, and grocery essentials like toppings, beverages, and baking materials.
- Schmilk Chocolate (Chocolate Hollow LLC) (US)
Schmilk is the first premium dairy-free vegan milk chocolate in the world. Their Vermont-based business has been handcrafting this dairy-free, vegan milk chocolate since 2012.
- Lindt & Sprüngli (Switzerland)
Lindt & Sprungli manufactures confectionery products. The Company sells a variety of chocolates, including various milk, dark, and cocoa items. Worldwide consumers are served by Lindt & Sprungli.
- Ritter Sport (Germany)
Alfred and Clara Ritter started Ritter Sport as a business and love project in 1912. They built the foundation for Ritter Sport's chocolate heritage with their confectionery and chocolate plant in Stuttgart. The business kept gaining more customers by releasing new variations constantly.
- Hu Products LLC (US)
Food items are offered by Hu Products LLC. In addition, the business sells chocolate that is vegan, paleo, and organic. Hu Products serve customers in the State of New York.
- Alter Eco (US)
The company Alter Eco Americas Inc. produces food items. The business has an online store where customers can buy rice, quinoa, sugar, cacao, coconut clusters, and truffles. Global customers are served through Alter Eco Americas.
- Divine Treasures LLC (US)
Divine Treasures is dedicated to producing one-of-a-kind, handmade chocolates, and non-dairy cheeses free of refined sugars, animal products, and gluten using organic, local ingredients. The Company caters to the discriminating preferences of all chocolate lovers, including those who are vegan, diabetic, need a gluten-free diet, and are otherwise aware of consumer goods that meet the highest quality criteria through retail, wholesale, and the internet.
- Equal Exchange COOP (US)
Equal Exchange Inc. runs as a worker-owned cooperative. Through fair trade, the company provides coffee, tea, chocolate, cocoa, sugar, bananas, olive oil, and almonds. Customers of Equal Exchange are located in the US.
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