Growing in International Markets | Market Development in Store for KitKat V

After a successful product trial in the UK, Nestle’s vegan KitKat bar - KitKat V is to be sold in 15 European markets.

This article in Fooddive explains how a product that took two years to develop looks set to grab a share of a small, but growing niche market in Europe.

Customers attracted to the concept of plant-based confectionery are likely to accept the premium price that KitKat V has compared with non-vegan versions of the brand.

For now, pricing is influenced to a large extent by production costs. As the article explains, KitKat V

"is likely to cost more than the regular version because it’s more expensive to produce, has pricier ingredients and requires stringent cleaning measures on production lines".

The article reports that the global vegan chocolate market is currently worth around $533 million and is forecast it to more than double to $1.4 billion by the end of 2032.