Technavio London has published a new market research report on the global white chocolate market from 2019-2023, stating that the market size will grow by almost USD 1.8 billion during 2019-2023, at a CAGR of nearly 2%. There is a significant rise in the demand for premium, vegan-friendly white chocolates across the globe, as consumers choose animal-free without compromising on taste.
The global plant-based movement demands white chocolate alternatives that include organic, vegan and gluten-free options. Chocolatiers are producing new luxury products to try to meet this demand. For instance, Germany-based Vego recently launched a white chocolate version of its popular vegan chocolate bar in the UK. Similarly, the UK-based company Plamil launched So Free, a gluten-free chocolate line which includes a dairy-free white chocolate alternative. The coming years will witness several such product launches, which is expected to further fuel the growth of the global white chocolate market.
An analyst at Technavio has summarized that: “The demand for white chocolate in Europe is expanding steadily. Frequent product launches and the growing demand for organic and vegan chocolate consumption has boosted the growth of the white chocolate market in Europe. Furthermore, the presence of major vendors such as Arcor, Mondelez International, Mars, and Chocoladefabriken Lindt & Sprungli is also expected to drive white chocolate market growth in the region.”