Chocolate Market Research Report

 

Growth Opportunities in the global chocolate market look promising over the next six years. The gaining popularity of dark chocolate and the easy availability of a large variety of dark chocolate are the key factors driving the growth of the global chocolate market.

Introduction of the Chocolate Market:

Chocolate is formed in paste, liquid, or block shapes. It is a combination of roasted and ground cacao seeds. Dark chocolate, white chocolate, and milk chocolate are the common type of chocolate available in the market. The procedure of making chocolate consists of several steps such as cacao cultivation, fermentation, harvesting, drying & shipping, and producing chocolates.

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Chocolate Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)

The primary factor propelling the growth of the market includes the growing consumer awareness regarding the health benefits of chocolate. The gaining popularity of dark chocolate and the easy availability of a large variety of dark chocolate are some other factors enhancing the demand of the market during the forecast period. The chocolate comprises of protein, milk, and other nutrients, which encourages good health and reduces the risk of heart diseases. Chocolate involves antioxidants that help in decreasing cholesterol, blood pressure and enhances blood circulation. As per the chocolate market report, the increasing disposable income of consumers, particularly in the developing countries, and the significant shift in the consumer's demand towards healthy products will further encourage the demand for dark chocolates.

According to the chocolate market analysis, numerous multinational giants, including Ferrero and Hershey's, majorly emphasize product innovation, such as various delicious flavors, which will attract many consumers in the market. The emerging trend of chocolate gifts for festive occasions is surging the growth of the chocolate market share in terms of revenue. Children and millennials, irrespective of economic situations, are the target consumers of chocolate. The major players are introducing various marketing strategies and innovative packaging solutions to capture the highest share of the market.

Based on the region, the Asia-Pacific region is projected to grow at a higher CAGR during the forecast period due to the rising influence of western culture and food habits, along with the rapid growth in population rate in this region. In addition to this, various key players are developing their footprints in China, which will propel the growth of the chocolate market share in China in terms of revenue. The increasing disposable income of the target audience and the growing population of millennials in India, which will support the growth of the chocolate market size in India. On the other hand, the increase in demand for premium chocolates in the US chocolate market share in terms of revenue is one of the major factors fuelling the growth of the market.

Key Players of the Global Chocolate Market:

·        Mars

·        Incorporated

·        Ferrero

·        Mondelez International

·        The Hershey Company

·        Nestle SA

·        Arcor Group

·        The Kraft Heinz Company

·        Ghirardelli Chocolate Company

·        Moonstruck Chocolate

·        Ezaki Glico Co Ltd.

Chocolate Market Segmentation:

Segmentation by Type:

·        Dark Chocolate

·        Milk & White Chocolate

Segmentation by Product:

·        Softlines/ Selflines

·        Countlines

·        Moulded Chocolates

·        Others

Segmentation by Distribution Channel:

·        Supermarkets/ Hypermarkets

·        Specialist Retailers

·        Convenience Stores

·        Online Channel

·        Others

Segmentation by Region:

·        North America

o   United States of America

o   Canada

·        Asia Pacific

o   China

o   Japan

o   India

o   Rest of APAC

·        Europe

o   United Kingdom

o   Germany

o   France

o   Spain

o   Rest of Europe

·        RoW

o   Brazil

o   South Africa

o   Saudi Arabia

o   UAE

o   Rest of the world (remaining countries of the LAMEA region)

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