The Latin America, Middle East and Africa Vegan Chocolate Market would witness market growth of 15.0% CAGR during the forecast period (2023-2030). In the year 2026, the LAMEA market's volume is expected to surge to 1,541.8 tonnes, showcasing a growth of 16.5% (2023-2030).
Vegan chocolate's popularity and demand have increased in recent years due to an increased awareness of the environmental impact of animal agriculture and the expanding influence of veganism on consumers. Additionally, the increasing number of people with dietary restrictions like lactose intolerance or dairy allergies has contributed to the demand for these chocolates.
Additionally, the numerous health benefits of dark chocolate have contributed to its increasing popularity. It contains several health-promoting ingredients (bioactive substances including polyphenols, flavonoids, procyanidins, theobromines, etc., and vitamins and minerals) that favorably impact people's immune systems. It provides protection against cardiovascular disease, certain types of cancer, and other brain-related disorders such as Alzheimer's disease, Parkinson's disease, etc. As a result of its anti-diabetic, anti-inflammatory, and antimicrobial qualities, dark chocolate is regarded as a functional food. Additionally, it has a well-established function in weight management and altering lipid profiles in a healthy direction.
According to reports, current food consumption patterns in the MENA region contribute to multiple forms of diet related NCDs. The MENA region has undergone a nutrition transition characterized by a change in eating patterns away from traditional, seasonal, and more varied meals rich in whole grains, fruits, and vegetables and toward a Westernized diet heavy in refined cereals, animal proteins, fats, and sugars. As consumer preferences evolve, the demand for vegan and plant-based options is likely to continue to grow, leading to greater availability and variety of vegan chocolate products in the region. These factors are expected to facilitate the region's market expansion.
The Brazil market dominated the LAMEA Vegan Chocolate Market, by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $34.4 Million by 2030. The Argentina market is anticipated to grow at a CAGR of 15.6% during (2023 - 2030). Additionally, The UAE market would experience a CAGR of 14.7% during (2023 - 2030).
Based on Distribution Channel, the market is segmented into Supermarkets/Hypermarkets, Convenience Stores, Specialty Stores, Online Stores, and Others. Based on Type, the market is segmented into Dark, Milk, and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Worldwide Vegan Chocolate Market is Projected to reach USD 1.8 Billion by 2030, at a CAGR of 12.4%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include The Hershey Company (Hershey Trust Company), Nestle S.A, Mars, Inc., Alter Eco (Nextworld Evergreen), Mondelez International, Inc., The Barry Callebaut Group, Plamil Foods Ltd, Lindt & Sprungli AG, Ludwig Weinrich GmbH & Co. KG, and Purdys Chocolatier
By Distribution Channel (Volume, Tonnes, USD Million, 2019-2030)
By Type (Volume, Tonnes, USD Million, 2019-2030)
By Country (Volume, Tonnes, USD Million, 2019-2030)
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