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Market & Trends

13.6% CAGR Expected for South Korean Vegan Chocolate Market as Plant-Based Diets Grow in Popularity

A report by Expert Market Research has predicted that the South Korean vegan chocolate market will grow with a significant CAGR of 13.6% through to 2028. The market is being driven by high rates of lactose intolerance in the country, which is leading manufacturers to develop dairy-free alternatives. Rising demand for healthy, clean-label products is also a factor; some consumers are opting for plant-based chocolate as it is cholesterol-free. Meanwhile, many younger consumers (Millennials and Gen Z) are increasingly aware of animal welfare issues and the environmental impact of animal agriculture. Rising disposable income and improved living standards are also boosting sales of vegan chocolate. As a result, an increasing number of Korean facilities are producing plant-based chocolate, and many manufacturers are expanding their ranges. …