Plant-Based Chocolate Market: By Product (Molded Bars, Chips & Bites, Boxed), By Distribution Channel (Online, Offline), By Type (Dark, Milk) and Geography

Plant Based Chocolate Market size was valued at USD X million in 2022 and is poised to grow at a significant CAGR of x% from 2023-2029. Vegan chocolate is any chocolate that is made without ingredients that come from animals. Vegan chocolates are a healthier alternative to chocolate, resulting in its significant adoption globally. The Molded bars chocolate segment is anticipated to grow at a significant CAGR over the forecast years owing to increased acceptance of veganism among consumers, especially among millennials and the working population, which has been fueling the product segment. molded bars of chocolate have various types of benefits such as high nutrition value with low added sugar the molded bar vegan chocolate is gaining much more popularity in the population. Moreover, competitors are also focusing on launching new products and acquisitions to maintain growth in the market. For instance, in June 2020, Wicked Kitchen, a vegan brand in the U.K., launched its first-ever vegan cupcakes through Tesco supermarkets in the U.K. Increase in awareness among consumers is increasing regarding the harmful effects of animal cruelty and increasing greenhouse emissions caused by animals the demand for a vegan diet is also increasing. 

Plant-Based Chocolate Market Key Developments:

• In March 2021, MilkinOats, an India-based oat milk startup, launched its first homegrown oat milk-based vegan milk chocolate confectionery bars.
• In September 2020, Lindt & Sprungli inaugurated the Lindt Home of Chocolate in Switzerland. The facility showcases a unique chocolate competence center, attractive museum, and open-view production plant.