Global Chocolate Market: Overview
Chocolate Market is anticipated to worth USD 138.19 billion by 2025, with a
CAGR of 4.7% during 2019-2025. Chocolate is one of the most consumed and popular food product in the food processing sector among consumers across the globe. The main reason behind the growing confectionary industry is an increase in demand for chocolates. Chocolates are one of the excellent pressure suppressants and anti-aging confectionery items. Owing to changing taste preferences, rising disposable incomes, and changing lifestyles are the major factor for increasing demand for chocolate is increasing day by day. Another big reason is the young population, the chocolate lovers showing great potential for varying kinds of chocolates in the country. Dark chocolate is known to have health benefits which such as reducing the risk of cardiovascular diseases and improving blood flow.
Additionally, the huge demand for chocolate on seasonal and festival occasions is driving the expansion of this market. Moreover, changing consumer preferences have increased sales of seasonal and premium chocolates during festive seasons instead of traditional Indian sweets which are anticipated to further augment chocolate demand. The demand for premium chocolate is increasing driven by rising customer interest in foreign brands.
Global Chocolate Market: Type Analysis
On the basis type, the global chocolate market is divided into Milk Chocolate, Dark Chocolate & White Chocolate. Milk chocolate segment holds the largest market share of the Global chocolate market followed by the dark chocolate during the forecast period 2019-2025. Milk chocolate boosts memory, cuts the risk of heart strokes, hydrates and smoothens the skin. Dark chocolate comprises of over 50% cocoa content which helps in reducing the risk of cardiovascular diseases and improving blood flow are likely to propel its demand. However, the bitter taste of dark chocolate is likely to restrain its demand in a country like India, Middle East nations. The rising trend of gifting chocolates, changing consumer taste preferences, and growing awareness about health benefits of chocolate driving the demand of chocolate across the globe.
Global Chocolate Market: Distribution Channel Analysis
On the basis of the distribution channel, the Global chocolate market has been segmented into Retail Stores, Specialty Retailers, and Online Distributors. The retail store’s channel is witnessing high growth. Retail stores have high growth potential due to the presence of large middle-income group further new wave of expansion through the compact store format will favor the chocolate demand in retail stores. Convenience stores represent the largest segment followed by supermarkets and hypermarkets owing to the rising number of health-conscious consumers, expanding the working population and increasing urbanization are boosting the country’s chocolate market. Apart from normal stores e-commerce is the next big sector. The growing online sales of chocolates, increasing demand for premium chocolates, and westernization tend is the key driver for the market.
Global Chocolate Market: Regional Insights
Geographically, the Global chocolate market is analyzed across North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America accounted for the maximum market share in 2018 followed by Europe and projected to dominate the overall chocolate market over the forecast period. Owing to the escalation in product innovations, and high disposable income. Changing consumer preferences has increased sales of foreign and premium chocolates during festive seasons will propel the market. With increasing purchasing power, consumers are readily paying for taste and quality products. The arrival of chocolate manufacturing multinationals, modern retail trade, changing urban lifestyles fuelled the growth of the chocolate industry.
Objective of the Study
To analyze and forecast market size of the Global Chocolate
market, in terms of value & volume.
To examine the careful market segmentation and forecast the market
size, in terms value, on the basis of region by segmenting entire Chocolate
market into five regions, namely, North America, Europe, Asia Pacific, Middle
East and their leading countries.
To outline, categorized and forecast the global chocolate market
on the basis of type, category, and distribution channel.
To examine competitive developments like expansions, technological
advancement, services, and regulative framework within the Global Chocolate
To highlight the impact analysis of the factors, affecting the
market dynamics such as drivers, restraints, opportunities, and challenges.
To strategically profile the key players and comprehensively
analyze their market shares along with detailing the competitive landscape for
Global Chocolate Market Competitive Landscape
Companies such as Mondelez International, Nestlé SA, Ferrero SpA, Mars, Incorporated, Gujarat Cooperative Milk Marketing Federation Ltd., The Hershey Company, Meiji Co Ltd, Lindt & Sprüngli, Surya Food & Agro Ltd., ITC Limited, August Storck KG, Barry Callebaut, Ezaki Glico Co., Ltd., and Lotus Chocolate Company Limited are the leading player in chocolate market.
Key Target Audience:
Market research and consulting firms
Global chocolate manufacturers
Research organizations and consulting companies
Organizations, associations and alliances
related to chocolate market
Scope of the Report
Pouches & Bags
By Distribution Channel
In addition, the report provides analysis of the global chocolate market with respect to the following geographic segments and their high performing regions:
Asia Pacific (APAC)
Business Questions answer by the report
How will the market drivers, restraints and
opportunities affect the market dynamics?
What will be the market size in terms of value
and volume and market statistics with detailed classification
Which segment dominates the market or region and
one will be the fastest growing and why?
A comprehensive survey of the competitive
landscape and the market participant players
Analysis of strategy adopted by the key player
and their impact on other players.
Customization Scope for the Client
Client satisfaction is our first and last priority. And that’s why BlueWeave Consulting offers customization according to Company’s specific needs. The following customization options are available for the report:
Additional Company Information
With five additional company detail analysis.
Additional country analysis.
Detailed segment analysis.