Global chocolate market was valued US$ 109.56 Bn in 2017 and is estimated to reach US$ 168.56 Bn by 2026 at a CAGR of 5.53% during the forecast.
Global chocolate market
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding chocolate market dynamics, structure by identifying and analyzing the market segments and project the market size. Further, the report also focuses on a competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER's analysis, SWOT analysis to address questions of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in chocolate market.
Chocolate is a healthy food with high nutritional value and stress relieving ability. Demand for chocolate is more during seasonal and festive occasions. The popularity of dark chocolate is expected to rise over the coming years owing to the fact that it helps in preventing cardiac diseases, in addition to another usage like chocolate cake and chocolate milk is gaining opportunities in the global market for chocolate. Fluctuating prices of raw materials of cocoa beans and cocoa butter, instability of cocoa supply and political instability in cocoa producing countries are likely to restrain the growth of the chocolate market.
Milk chocolate segment has the largest market share followed by dark chocolate. Dark chocolate consists of more than 60% cocoa content and is known to have health benefits like reducing the risk of cardiovascular diseases and improving blood flow is about to impel its demand in a forecast period but the bitter taste of dark chocolate is about to restrain the chocolate market.
Demand for an economy and mid-range chocolate is high due to the large population of a low-income economy. Demand rises especially during Christmas, Easter, and Diwali. Premium chocolate market is rising at a steady pattern.
Everyday chocolate segment dominated the market with 82 % share due to its affordable pricing. While seasonal chocolate is more demanded during festive occasions. Gifting chocolate hampers and bouquets are among some popular consumer trends in market. Online shopping is gaining popularity and market owing to exciting offers and brands is attracting Indians. Rising new internet user population in developing countries offers a promising growth. Convenience, ease of searching, billing, wide selection of products, discounts, and promotion have boosted the online chocolate sale.
North America holds the largest market share followed by Europe due to large number of manufacturers in U.S, U.K, and Germany. The Asia Pacific is anticipated to be the fastest growing market due to high demand from emerging nations that includes China and India. Europe held significant share in global chocolate market owing to increasing acceptance of dairy-free, healthy, and organic recipes for desserts and the presence of numerous key market players, such as Ferrero Group, Nestlé SA, ChocoladefabrikenLindt & Sprüngli AG, and Pladis is driving the global chocolate market.
Scope of the Global Chocolate Market
Global Chocolate Market, By Products:
• Milk Chocolate
• Dark Chocolate
• White Chocolate
Global Chocolate Market, By Sales Category:
• Everyday Chocolate
• Premium Chocolate
• Seasonal Chocolate
Global Chocolate Market, By Distribution Channel:
• Online Channel
• Departmental Store
Global Chocolate Market, By Region:
• North America
• Asia Pacific
• Middle East & Africa
• South America
Key Players Operating In Global Chocolate Market:
• Kraft Foods
• Moonstruck Chocolatier Co.
• Mars Inc.
• Ghirardelli Chocolate Co.
• Ferrero Group
• Hershey Foods Corp.
• Meiji Co Ltd
• Ezaki Glico Co Ltd
• August Storck KG.
• Barry Callebaut
• Lindt & Sprüngli Ag.
• Chocoladefabriken Lindt & Sprungli
Maximize Market Research provides B2B and B2C research on 20,000 high growth emerging opportunities & technologies as well as threats to the companies across the Healthcare, Pharmaceuticals, Electronics & Communications, Internet of Things, Food and Beverages, Aerospace and Defense and other manufacturing sectors.
Manik Baug, Vadgaon Bk,
Pune, Maharashtra 411051, India.