Hungary: Experts predict a rapid expansion of the vegan chocolate market

The market for dairy-free and vegan chocolates is set to grow significantly over the next nine years at the expense of milk-based chocolates. According to recent data, the plant-based chocolate sector, which is currently estimated at 1 billion dollars, may reach a value of 4 billion by 2032. This corresponds to an annual growth of 15.5% compared to the expected annual growth of 3.7% for the entire chocolate market. Dairy-free and vegan chocolates are about to take off The article is from Trade magazine 6-7/2023. can be read in its issue. ProVeg International attributes this growth in part to consumers increasingly looking for healthy, and especially plant-based, products. In accordance with this, the fastest-growing trend in the chocolate sector is the market introduction of new vegan-friendly developments: the number of new product launches in 2021-2022 jumped by 71% compared to 2017-2018. Dairy-free chocolate currently accounts for 40% of the entire vegan confectionery market, ...