Vegan Chocolate Market to Be Worth $2Bn by 2032, Growing at 13.1% CAGR
According to a report by Allied Market Research, significant growth is expected for the vegan chocolate market over the coming decade, with the market value expected to rise from $585.8 million in 2022 to $2 billion in 2032 — a CAGR of 13.1%. Demand will be driven by an increased focus on sustainable and animal-friendly options, along with the perception of plant-based products as a healthier choice. However, the market could be restrained by a lack of production capacity, along with the difficulty of sourcing ingredients at a reasonable cost. Additionally, plant-based chocolate typically requires significant R&D due to the challenge of replicating the taste and texture of dairy-based products, and distribution is more limited than for conventional chocolate. To counter these challenges, the report …
