The Hershey Company was the leading chocolate manufacturer in the United States in 2022 in terms of market share. The company held approximately 35.5 percent of the total market, with only Mars as a significant competitor for market leader. In terms of the total confectionery market, Mars has Hershey beat for largest market share, but only barely edged out their competitor by about 0.4 percent. Hershey’s history The Hershey Company was founded in 1894 by Milton Hershey and is headquartered in Hershey, Pennsylvania. The town itself was largely built by Milton Hershey, and many places in the town bear the Hershey name, including Hershey’s Chocolate World and Hersheypark. Hershey’s Chocolatetown at Hersheypark was one of the largest construction projects in the United States as of January 2019, with a cost of 150 million dollars. Hershey’s popularity Hershey’s generous market share in the United States is due to the confectionery company’s popularity across brands. In a 2018 survey, three of the top four most popular chocolate brands among consumers were sold by Hershey. When it comes to Halloween candy, the company’s Reese’s Peanut Butter Cups were the prized chocolate among trick-or-treaters of all ages.

The revenue in the 'Chocolate Confectionery' segment of the food market in the United States was forecast to continuously increase between 2025 and 2030 by in total 4.6 billion U.S. dollars (+19.17 percent). After the tenth consecutive increasing year, the revenue is estimated to reach 28.63 billion U.S. dollars and therefore a new peak in 2030. Notably, the revenue of the 'Chocolate Confectionery' segment of the food market was continuously increasing over the past years.Find other key market indicators concerning the revenue growth and average consumption per capita. The Statista Market Insights cover a broad range of additional markets.

The North America Chocolate Market report segments the industry into Confectionery Variant (Dark Chocolate, Milk and White Chocolate), Distribution Channel (Convenience Store, Online Retail Store, Supermarket/Hypermarket, Others), and Country (Canada, Mexico, United States, Rest of North America). The report includes market size in Value in USD and Volume, forecasts up to 2030, analysis of growth prospects.

The Chocolate Market report segments the industry into Confectionery Variant (Dark Chocolate, Milk and White Chocolate), Distribution Channel (Convenience Store, Online Retail Store, Supermarket/Hypermarket, Others), and Region (Africa, Asia-Pacific, Europe, Middle East, North America, South America). Five years of historical data and five-year forecasts are provided.

When it comes to the most widely consumed chocolate brands in the U.S., Hershey’s claims the pole position. The Pennsylvania-based brand is consumed by 57 percent of internet respondents who recognized it, followed by Reese's with a consumption rating of 56 percent. For this study, brand awareness was surveyed employing the concept of aided brand recognition, showing respondents both the brand's logo and the written brand name. Only respondents who recognized a brand were asked if they consumed the product.

The market for chocolate products in the U.S. Retail sales of chocolate confectionery in the U.S. amount to a total of almost 25 billion U.S. dollars. The chocolate confectionery category with the highest sales is countlines, which refers to chocolate bars eaten as snacks. Such products generate more than 8.1 billion U.S. dollars annually. Nearly 615 million kilograms of chocolate and chocolate-containing products are imported into the U.S. each year. Canada is the country from which the U.S. imports the majority of its chocolate products, as more than half of the U.S.’ total chocolate product imports come from its North American neighbor. Nonetheless, American companies are also major producers of chocolate-containing products. The leading chocolate producer in terms of sales in the U.S. is the Hershey Company. The Pennsylvania-based multinational confectionery company sells approximately 2.84 billion U.S. dollars’ worth of chocolate products annually.

The Hershey Company

Founded by Milton Hershey in 1894, the Hershey Company has become one of the largest manufacturers of chocolate in North America. Hershey employs 20,505 full-time workers. The revenue of the Hershey Company has been on a steady incline since 2006. The global revenue of Hershey amounts to about 11.17 billion U.S. dollars. The Hershey Company’s brands, Hershey’s and Reese's, are among the leading chocolate and candy bar brands ranked by brand awareness in the U.S. Around 93 percent of consumers are aware of these two brands. The Nestlé-owned brand KitKat, as well as the two brands Snickers and Twix, both owned by Mars Inc., also have a brand recognition rate of 93 percent.

The North American Premium Chocolate Market is Segmented by Product Type (Dark Premium Chocolate and White and Milk Premium Chocolate), Distribution Channel (Hypermarkets/Supermarkets, Convenience Stores, Online Stores, and Other Distribution Channels), and Geography (United States, Mexico, Canada, and Rest of North America). The report provides market sizes and forecasts in terms of value in USD million for all the above segments.

The industry has experienced significant growth in recent years, propelled by changing consumer preferences and innovative product developments. The sector has remained popular despite challenges like fluctuating cocoa prices and ever-growing health consciousness. Companies have adapted by introducing new flavors, healthier options and sustainable practices, appealing to a broader audience. This adaptability has kept consumer interest alive and expanded market reach, ensuring the chocolate production industry remains a crucial contributor to the US economy. Still, industry-wide revenue is projected to shrink at a CAGR of 1.0% over the five years through 2025. In the current year, revenue is expected to dip by an estimated 1.4% to a total of $22.0 billion. Several trends have influenced the industry's performance in recent years. The rising demand for dark and organic chocolate reflects a shift towards healthier eating, with consumers seeking products that offer nutritional benefits without compromising taste. A strong emphasis on sustainability and ethical sourcing has become essential, with more brands adopting fair trade practices and eco-friendly packaging. Technological advancements have also enhanced production efficiency and ensured consistent quality. Also, e-commerce has reshaped sales channels, with online shopping and direct-to-consumer models becoming increasingly popular, especially during the COVID-19 pandemic. Looking forward, the chocolate production industry is set for continued growth and transformation, with revenue forecast to expand at a CAGR of 1.0% over the five years to 2030 to a total of $23.2 billion. The trend towards health-conscious consumption is expected to persist, driving demand for innovative products that blend indulgence with nutritional benefits. Sustainability will remain a key focus, with companies likely to invest in ethical sourcing and environmentally friendly practices. Technological innovations will continue to improve production capabilities and supply chain efficiency. Expanding e-commerce and digital marketing will attract new customers and foster brand loyalty. The US chocolate production industry is poised to thrive, adapting to changing consumer preferences and market dynamics.

The global dark chocolate market, as revealed in a new study published by Fact.MR, is expected to reach US$ 69.97 billion in 2024. Over the forecasted period from 2024 to 2034, revenue from the sales of dark chocolate is forecasted to advance at a CAGR of 7.2%, culminating in a market value of US$ 140.25 billion by 2034-end.

Report Attribute	Detail
Dark Chocolate Market Size (2024E)	US$ 69.97 Billion
Forecasted Market Value (2034F)	US$ 140.25 Billion
Global Market Growth Rate (2024 to 2034)	7.2% CAGR
Market Share of Organic Dark Chocolate (2034F)	55.4%
North America Market Share (2034F)	24.3%
Canada Market Growth Rate (2024 to 2034)	7.7% CAGR
Key Companies Profiled	Mondelez International; The Hershey Company; GCPPL Ltd.; Agostoni Chocolate; Barry Callebaut; Nestlé SA; Unilever and Mars Incorporated; Ghirardelli Chocolate Co.; Chocolatiers (UK) Ltd.; Godiva; Lindt & Sprungli AG; Patchi; Blommer Chocolate Company.

Country-wise Insights

Attribute	United States
Market Value (2024E)	US$ 7.44 Billion
Growth Rate (2024 to 2034)	7.6% CAGR
Projected Value (2034F)	US$ 15.54 Billion

Attribute	China
Market Value (2024E)	US$ 7.66 Billion
Growth Rate (2024 to 2034)	7.2% CAGR
Projected Value (2034F)	US$ 15.39 Billion

Attribute	Japan
Market Value (2024E)	US$ 4.53 Billion
Growth Rate (2024 to 2034)	7.7% CAGR
Projected Value (2034F)	US$ 9.52 Billion

Category-wise Insights

Attribute	Organic Chocolate
Segment Value (2024E)	US$ 37.81 Billion
Growth Rate (2024 to 2034)	7.5% CAGR
Projected Value (2034F)	US$ 77.7 Billion

Attribute	Food & Beverages
Segment Value (2024E)	US$ 53.88 Billion
Growth Rate (2024 to 2034)	7.1% CAGR
Projected Value (2034F)	US$ 106.59 Billion

Snapshot img

Dark Chocolate Market Size 2025-2029

The dark chocolate market size is forecast to increase by USD 37.37 billion at a CAGR of 9.1% between 2024 and 2029.

The market experiences robust growth, fueled by the health benefits associated with its consumption. Consumers' increasing preference for gourmet, artisanal, vegan, and gluten-free dark chocolate variants underscores this trend. The health benefits, including improved heart health and cognitive function, further bolster market expansion. However, market growth faces challenges. Volatility in raw material prices, particularly cocoa beans, poses significant risks to manufacturers. Regulatory hurdles impacting labeling requirements and import/export regulations also temper growth potential.
To capitalize on market opportunities and navigate challenges effectively, companies must focus on supply chain optimization, price transparency, and innovation to cater to diverse consumer preferences. Strategic partnerships and collaborations can help mitigate risks and ensure a steady supply of high-quality raw materials. However, the market's expansion is not without challenges. Volatility in raw material prices, primarily cocoa beans, poses a significant hurdle. Supply chain inconsistencies, particularly in sourcing sustainable and ethically produced cocoa, also temper growth potential.

What will be the Size of the Dark Chocolate Market during the forecast period?

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In the dynamic chocolate market, various segments continue to gain traction among consumers. Gluten-free and sugar-free options cater to dietary needs, while couverture and extra dark varieties appeal to those seeking intense flavors. Sustainability is a key trend, with fair trade, ethical, and sustainable chocolate gaining popularity. Luxury chocolate brands showcase their offerings at chocolate fairs and exhibitions, while gourmet chocolate makers conduct masterclasses and tastings for connoisseurs. Bean-to-bar and artisan chocolate producers traceability and single-origin origins. Cocoa processing and manufacturing techniques evolve, focusing on premium quality and preservation. Dried fruits, such as blueberries, are often added to dark chocolate for an extra health boost.
Chocolate decoration and packaging innovations enhance the overall consumer experience. Chocolate connoisseurs and sommeliers pair chocolate with wine, while vegan and low-sugar options cater to diverse palates. Chocolate production workshops and molding classes provide hands-on experiences for enthusiasts. Overall, the chocolate industry continues to evolve, offering a wide range of options for discerning consumers.

How is this Dark Chocolate Industry segmented?

The dark chocolate industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Type

  Conventional
  Organic


Distribution Channel

  Offline
  Online


Product Type

  70 percent cocoa dark chocolate
  75 percent cocoa dark chocolate
  80 percent cocoa dark chocolate
  90 percent cocoa dark chocolate


Geography

  North America

    US
    Canada


  Europe

    Belgium
    France
    Germany
    Italy
    UK


  APAC

    China
    India
    Japan


  Rest of World (ROW)

By Type Insights

The conventional segment is estimated to witness significant growth during the forecast period. In the dynamic market, a range of products cater to diverse consumer tastes and preferences. Dark chocolate bars, available in various cocoa percentages from semi-sweet to bittersweet, remain a popular choice. Their smooth textures and rich cocoa flavors appeal to chocolate connoisseurs. Dark chocolate blocks, utilized in baking and confectionery applications, provide versatility for creative culinary endeavors. Additionally, convenient dark chocolate pieces or chunks are ideal for snacking or recipe integration. The market also offers an extensive selection of flavored dark chocolate products, infused with fruits, nuts, spices, and herbs, adding complexity and depth to taste profiles. Dark chocolate blocks are also prominent, offering versatility in baking and confectionery applications.

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The Conventional segment was valued at USD 35.52 billion in 2019 and showed a gradual increase during the forecast period. Other forms include dark chocolate mousse, cake, beverages, syrup, ganache, and truffles. Furthermore, the market accommodates dietary preferences with offerings of vegan, gluten-free, and low-sugar dark chocolate. Cocoa solids and milk solids are essential ingredients in dark chocolate production, contributing to its distinct flavor and texture. Premium and luxury dark chocolate, gourmet and single-origin varieties, as well as intense and extra dark chocolate, ca

In 2020, the Mars Inc. owned the chocolate confectionary brands with the second highest market share in the United States. Those brands include M&M's, Snickers, Mars,Galazy/Dove, Twix, Milky Way and 3 Muskateers. Together they amounted to approximately 32.6 percent of market share.

The South America Chocolate Market report segments the industry into Confectionery Variant (Dark Chocolate, Milk and White Chocolate), Distribution Channel (Convenience Store, Online Retail Store, Supermarket/Hypermarket, Others), and Country (Argentina, Brazil, Rest of South America). Get five years of historical data alongside five-year market forecasts.

United States Chocolate Market was valued at USD 26.02 billion in 2024 and is anticipated to grow USD 34.95 billion by 2030 with a CAGR of 5.04% during forecast period.

Pages	84
Market Size	2024: USD 26.02 Billion
Forecast Market Size	2030: USD 34.95 Billion
CAGR	2025-2030: 5.04%
Fastest Growing Segment	Online
Largest Market	South
Key Players	1. The Hershey Company 2. Mars Incorporated 3. Ferrero U.S.A., Inc. 4. Lindt & Sprüngli (USA) Inc. 5. Theo Chocolate, Inc. 6. Fran's Chocolates Ltd. 7. Recchiuti Confections 8. TCHO Ventures, Inc. 9. Bon Bon Bon, LLC 10. The Chickasaw Nation

The candy company Mars controls a 14.4 percent share of the global chocolate market, making it the largest chocolate company in the world. Mars is famous for such chocolate candy brands as M&M’s, Snickers, and Twix to name a few.

Global Chocolate Market

Western Europe is home to the largest market for chocolate confectionary worldwide, as of 2019. In that year, the chocolate confectionary market in Western Europe made up a third of the global market. The popularity of chocolate candy is not expected to dwindle any time soon. In 2019, it was estimated that the size of the global chocolate confectionary market amounted to nearly 140 billion U.S. dollars. The market value is expected to exceed 187 billion U.S. dollars by 2026.

Top Chocolate Brands in the United States

The Hershey chocolate company controls nearly 44 percent of the U.S. chocolate market, followed by Mars with a 30 percent share. However, the bestselling chocolate candy brand in the United States are M&M’s, a Mars brand. In 2017, sales of M&M’s amounted to 688.7 million U.S. dollars. Hershey’s chocolate came in second place with 383.3 million dollars in sales.

Snapshot img

Chocolate Confectionery Market Size 2024-2028

The chocolate confectionery market size is forecast to increase by USD 31 billion at a CAGR of 4.36% between 2023 and 2028.

The market is experiencing significant growth, driven by the frequent product launches and packaging innovations in the industry. Consumers' increasing preference for premium and artisanal chocolate products, coupled with the expanding retail presence of these offerings, is fueling market expansion. However, the market faces challenges, including the rise in the number of product recalls due to contamination issues. These incidents can negatively impact brand reputation and consumer trust, necessitating stringent quality control measures. To capitalize on market opportunities and navigate challenges effectively, companies must prioritize product safety, invest in research and development for innovative offerings, and adopt sustainable and ethical sourcing practices. By staying abreast of consumer trends and market dynamics, chocolate confectionery players can position themselves for long-term success in this dynamic and competitive market.

What will be the Size of the Chocolate Confectionery Market during the forecast period?

Request Free SampleThe market experiences growth, fueled by consumers' enduring affection for premium quality chocolate products. Global chocolate consumption continues to rise, driven by the popularity of both mainstream and luxury indulgence offerings. Premium confectionery products, including milk mousse and creamy caramel, capture a significant market share due to their rich sensorial appeal. Health-conscious consumers seek out chocolate with label claims such as organic, sustainably sourced, and dark chocolate varieties, reflecting the trend towards healthy eating lifestyles. Exotic spices, floral notes, unexpected textures, and rare cocoa varieties add to the market's dynamic nature, catering to the diverse tastes of chocolate lovers. Artisanal chocolates, with their distinct flavor combinations, further expand the market landscape, offering a unique and luxurious experience.

How is this Chocolate Confectionery Industry segmented?

The chocolate confectionery industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments. ProductChocolate barsBoxed assortments and seasonal variantsOthersDistribution ChannelOfflineOnlineGeographyEuropeGermanyUKNorth AmericaUSAPACChinaIndiaSouth AmericaMiddle East and Africa

By Product Insights

The chocolate bars segment is estimated to witness significant growth during the forecast period.The market is expected to grow steadily, with chocolate bars remaining the largest segment in 2023 and beyond. This segment includes countlines and molded bars. Countlines consist of individually wrapped, chocolate-coated bars, while molded bars are small chocolate pieces cut from larger blocks. Major brands such as Snickers, Milky Bar, Milka, Galaxy, 5 Star, Dove, and Cadbury Dairy Milk dominate the chocolate bars market. Innovative chocolate flavors and textures, as well as attractive packaging, are key growth drivers. Consumer preferences for premium quality products, including dark chocolate confectionery with health benefits, are influencing market trends. Peanut butter, milk mousse, creamy caramel, and other gourmet flavors are gaining popularity. Healthy eating lifestyles have led to the demand for sugar reduction, low-calorie, and sugar-free chocolate snacks. Premium chocolate brands, artisanal chocolates, and organic and sustainably sourced chocolate are also on the rise. Consumer packs, added sugar content, and seasonal treats are other market trends. Consumers' preferences for high-quality, gourmet chocolate products, visual appeal, and innovative varieties continue to shape the market.

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The Chocolate bars segment was valued at USD 50.50 billion in 2018 and showed a gradual increase during the forecast period.

Regional Analysis

APAC is estimated to contribute 33% to the growth of the global market during the forecast period.Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The European the market is driven by the demand for premium quality products, particularly in the UK, Germany, France, Switzerland, Italy, Russia, the Netherlands, Poland, Belgium, and Spain. Major players in this market include Mars, Mondelez International, Barry Callebaut, Nestle, Ferrero, and Chocoladefabriken Lindt and Sprungli AG. The market is highly competitive, with a variety of offerings from both regional

The U.S. chocolate market totaled $23B in 2024, with an increase of 4% against the previous year. The market value increased at an average annual rate of +3.8% over the period from 2012 to 2024; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 9.7%. Over the period under review, the market reached the maximum level in 2024 and is expected to retain growth in the near future.

Organic Chocolate Market size is expected to be worth around USD 1324.8 Mn by 2034, from USD 608.0 Mn in 2024, at a CAGR of 8.1%

Chocolate stores in the US have experienced a dynamic period marked by shifts in consumer preferences, economic fluctuations and evolving market trends. Over the past few years, the industry has seen challenges and opportunities, with a notable hike in demand for premium and artisanal chocolates. This surge has been fueled by a growing consumer interest in unique, high-quality products and an emphasis on ethical sourcing. The pandemic initially disrupted supply chains and store operations, but many chocolate retailers adapted by enhancing their online presence and offering delivery services. As a result, chocolate stores have recovered and found new ways to engage with their customers, setting the stage for continued growth. Still, revenue will weaken at a CAGR of 0.8% to $1.5 billion over the five years to 2024, including 0.5% growth in 2024 alone. Over the past five years, the chocolate store industry in the US has undergone significant transformation. In recent years, there has been a steady gain in the popularity of dark chocolate and health-conscious products, reflecting broader trends in consumer health awareness. This period also saw a swell in specialty chocolate shops focusing on bean-to-bar production, fair trade practices and unique flavor profiles. Despite economic uncertainties, many chocolate stores thrived by capitalizing on seasonal sales, holiday promotions and collaborations with other local businesses. The next five years promise continued evolution and potential growth for chocolate stores. Analysts anticipate that demand for premium and ethically sourced chocolates will keep rising as consumers become more discerning about the quality and origins of their food. Technological advancements, like blockchain for supply chain transparency and innovative packaging solutions, will enhance consumer trust and engagement. Also, as sustainability becomes a key focus, stores prioritizing eco-friendly practices will attract loyal customers. The future looks bright for the US chocolate store industry, with innovation and consumer preferences driving its trajectory. These factors are expected to cause revenue to grow at an estimated CAGR of 0.1% to $1.5 billion over the five years to 2029.

The United States (US) Wine Chocolate Market size is expected to reach $320.43 Million by 2030, rising at a market growth of 5.9% CAGR during the forecast period. In the year 2022, the market attained a volume of 26501.01 Thousand Units, experiencing a growth of 6.3% (2019-2022). The wine chocolat

According to Cognitive Market Research, The Global Craft Chocolate Market size will be USD 13.3 billion in 2023 and will expand at a compound annual growth rate (CAGR) of 10.20% from 2023 to 2030.

Ethical sourcing propels the Craft Chocolate Market's growth as consumers prioritize transparency and fair trade, emphasizing the market's commitment to ethical values.
In the Craft Chocolate Market, the Bars segment commands dominance.
Dark Chocolate takes center stage in the Craft Chocolate Market, claiming a dominant position.
North American Craft Chocolate will continue to lead, whereas the European Craft Chocolate Market will experience the most substantial growth until 2030.

Sustainable Practices and Ethical Sourcing Propel the Growth Trajectory of the Craft Chocolate Market

The adoption of sustainable practices and ethical sourcing becomes a driving force propelling the craft chocolate market. As conscientious consumers prioritize transparency and ethical considerations in their purchasing decisions, craft chocolate makers implementing fair trade practices and environmentally sustainable sourcing witness heightened demand. This cause-and-effect relationship underscores the market's responsiveness to ethical consumerism, with the commitment to social and environmental responsibility becoming a catalyst for the market's sustained growth.

Artisanal Appeal and Compelling Storytelling Propelling the Surge in Demand within the Craft Chocolate Market

Craft chocolate market experiences a surge in demand driven by the artisanal appeal and compelling storytelling surrounding each unique product. Craft chocolatiers, often smaller-scale producers, leverage their artistry and narratives to create a distinct connection with consumers. This cause-and-effect dynamic is evident as consumers, seeking more than just a product, are drawn to the personalized, handcrafted nature of craft chocolate, fostering loyalty and elevating the market by valuing the artisanal journey and the individual stories behind each delectable creation.

Rise in disposable income across the globe is a major driver of the growth in the craft chocolate market

Market Dynamics of Craft Chocolate

Dual Challenge of Affordability and Artisanal Quality in the Craft Chocolate Market

Craft Chocolate faces restraints linked to premium pricing pressures, posing a dual challenge for producers and consumers alike. The meticulous sourcing of high-quality ingredients, often ethically and sustainably produced, contributes to elevated production costs. As a result, craft chocolate is positioned at a premium price point, limiting its accessibility to a broader consumer base. The restraint lies in the delicate balance between maintaining the artisanal quality that defines craft chocolate and addressing the challenge of making it more affordable without compromising on the unique characteristics that distinguish it in the competitive confectionery landscape.

Impact of COVID–19 on the Craft Chocolate Market

The craft chocolate market faced initial disruptions during the COVID-19 pandemic, with lockdowns and economic uncertainties impacting production and retail sales. However, the industry demonstrated resilience through a shift to e-commerce and direct-to-consumer strategies. As consumers sought comfort, online sales of craft chocolate surged, showcasing the adaptability of the market. Craft chocolate makers embraced innovation, introducing virtual experiences and emphasizing quality, ultimately turning challenges into opportunities and highlighting the enduring appeal of artisanal, high-quality chocolate. Introduction of Craft Chocolate

Craft chocolate market thrives on growing consumer demand for sustainable and ethically sourced products, driven by a preference for transparency and ethical considerations. The market's responsiveness to ethical consumerism serves as a catalyst for sustained growth. The Craft Chocolate Market surges in demand, propelled by the artisanal allure and captivating storytelling accompanying each unique product. Craft chocolatiers, typically smaller-scale producers, leverage their artistry and narratives to establish a distinct connection with consumers. This cause-and-effect relationship is evident as consumers, desiring more than just a product, are drawn to the personalized, handcrafted nature of craft chocolate. This fosters loyalty and elevates...

Type: Industrial chocolate comes in various forms, including dark, milk, and white chocolate. Dark chocolate continues to lead with the highest cocoa content, followed by milk chocolate and white chocolate.Application: Industrial chocolate is primarily employed as an ingredient in chocolate bars, confections, and desserts. It also serves as a flavoring component in a wide range of food products. Recent developments include: Barry Callebaut: The world's largest manufacturer of high-quality chocolate products, Barry Callebaut, expanded its North American portfolio in May 2022 with the addition of dairy-free organic chocolate. This caters to the growing demand for vegan and dairy-free confectionery products., Mars: In February 2022, Mars forayed into the vegan chocolate segment with the launch of CO2COA, an animal-free chocolate bar made using whey protein from biotech company Perfect Day., Hershey's: The Pennsylvania-based chocolate giant filed a patent application in June 2022 for incorporating roasted grains in vegan chocolate products. This highlights their focus on innovation and meeting the needs of a growing vegan consumer base.. Notable trends are: Convenience and ready-to-use products is driving the market growth.