Vegan Chocolate Market: Introduction
As the name suggest vegan chocolate does not contain anyingredient derived from animals such as dairy product and dairy relatedproducts such as milk solids, milk fat, casein, and whey. Any chocolate whoseingredient comes under these parameters is a vegan chocolate. Vegan chocolateis entirely made from the plant-based ingredients, hence it is low incholesterol and fat making it healthier than conventional chocolate. Vegan foodis trending in the developed market which is driving the veganchocolate market. However, the veganfood market is considered niche in the industry but the increase in theawareness of animal cruelty by the various animal right group have made veganfood popular which have resulted in an increase in a number of people who areturning vegan thus consolidating the market size and projecting it into thedirection of the mainstream market.
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Vegan chocolate Market Dynamics
Vegan food is perceived to be healthier than conventional foodby the consumers, also the increase in the awareness towards animal cruelty inthe dairy and meat industry and a greener environment are acting as a primarydriver for the vegan chocolate market. Furthermore, researches indicate thatthe animal agriculture is one of the major cause of an increase in the emissionof global greenhouse gases. The animal excrements emit gases whichinclude nitrous oxide, methane, hydrogen sulfide, and ammonia. Hydrogen sulfideand ammonia poison the air while methane and nitrous oxide are the main contributorsto global warming. Vegan chocolate is also used as an alternative toconventional chocolate by the lactose intolerant consumers. Launches ofdifferent vegan chocolate flavors is also driving the market. The restraint forthe vegan chocolate market is higher pricing than the conventionalchocolate.
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Vegan chocolate Market Regional Outlook
Geographically vegan chocolate market is segmented into NorthAmerica, Latin America, Europe, Asia-Pacific, Middle East and Africa.
Europe is expected to dominate the vegan chocolate marketfollowed by North America in terms of value share in the forecasted periodowing to increase in concern on animal ethics, health, and greener environment,also high disposable income, advanced technology, the presence of R&Dcenters along with manufacturing facilities. Asia-Pacific, Latin America, andMiddle East and Africa shows moderate potential for vegan chocolate market andis estimated to show a moderate growth.
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Vegan Chocolate Key Players
Some of the regional players for the vegan chocolate market arePlamil Foods Ltd, Tofutti Brands, Kraft Foods Group Inc, Lindt & SprüngliAG, Newmans Own Inc, Ludwig Weinrich GmbH & Co. KG., The WhiteWave FoodsCompany, The Hershey Company, Divine Chocolate Limited and other regionalplayers.
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