Vegan Chocolate Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025

Albany, NY -- (SBWire) -- 07/11/2018 --Vegan food is considered an emerging trend at the moment and vegan chocolate is included in this. In the last couple years, the demand for vegan chocolates has surged considerable and the millennials are responsible for this. In a report, titled "Vegan Chocolate Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2025," Transparency Market Research holistically studies various factors enabling growth in the market. It covers growth drivers and restrains besides highlighting opportunities and key threats for the market players. The report is intended at enabling stakeholders gain an informed perspective about the global vegan chocolate market.

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While vegan chocolate constitute a niche market, it is likely to grow stronger in response to the rising awareness about animal cruelty and health benefits. Veganism as a trend is gaining popularity in leaps and bounds. Adding to this are various initiatives adopted by animal right groups to make veganism a popular practice among consumers. The scenario favors growth of the global vegan chocolate market, which in the coming years is forecast to exhibit robust CAGR. With an increasing number of people choosing veganism, the market's size is likely to increase reasonably in the coming years. Spurred by the aforementioned factors the global vegan chocolate market will soon venture into the mainstream.

According to TMR, soaring health concerns are contributing factors turning an increasing number of people into a vegan lifestyle. In addition to the perception that vegan chocolates are healthier, the rising prevalence of lactose intolerance will create lucrative opportunities for the global vegan chocolate market. Also, strengthening the market is the launch of vegan chocolates in various flavors. Even several popular chocolate brands have started including vegan variants in their product portfolio.

The global vegan chocolate market can be segmented into bakery, beverages, confectionaries, and preserved foods in terms of application. On the basis of distribution channel, the global market can be classified into convenience store, hypermarket/supermarket grocery store, specialty store, and online retailing. Of these, growth witnessed in the online retailing segment is expected to be grow significantly in the coming years. The rising trend of making purchases online will drive the segment.

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In terms of end user, the global vegan chocolate market can be segmented into industrial, household, restaurant, bar, and hotel, and industrial. Among these, the demand from household segment is expected to grow considerably during the course of the forecast period. Regionally, Europe is anticipated to emerge dominant in the global vegan chocolate market. Besides this, North America will also offer lucrative growth opportunities to the market. According to TMR, Asia Pacific, the Middle East and Africa, and Latin America will show moderate growth potential in the coming years.

Some of the leading companies operating in the global vegan chocolate market are Tofutti Brands, The Hershey Company, Kraft Foods Group Inc, The WhiteWave Foods Company, Lindt & Sprüngli AG, and Divine Chocolate Limited.