Chocolate Market

Global Chocolate Market is valued at USD 97.86 Billion in 2021 and is expected to reach USD 135.69 Billion by 2028 with a CAGR of 4.78% over the forecast period.

While developed nations show thriving and established markets for chocolate, rising spending on chocolate and other confectionary goods and a change in user taste preferences are detected to be the main boosters to market growth, mainly in developing nations.

Scope of The Report:

Chocolate is one of the most profitable elements of the confectionary sector all over the world. The chocolate sector has been showing a multibillion dollar growth since the last few years and is predicted to cross new growth levels within the coming few years. Increasing awareness about healthy advantages of eating chocolate on a daily basis will power the growth of global chocolate market over the coming years.

The global chocolate market is divided by sale frequency and type. By chocolate type, the market is divided as dark chocolate, milk chocolate, and white chocolate. Milk chocolate section clocked the biggest market share, after dark chocolate. By frequency of sale, the market is divided as premium chocolate, daily chocolate, and seasonal chocolate. Daily chocolate, credited to affordable price, has been a huge section over the coming years.

Chocolate Manufacturers:

The major players included in the global chocolate market forecast are,

• Guylian
• Arcor
• August Storck KG
• Ezaki Glico Co. Ltd.
• Fererro Group
• Ghirardelli Chocolate Co.
• Hershey Foods Corporation
• Incorporated
• Kraft Foods
• Lindt & Sprüngli
• Mars Inc
• Meiji Co Ltd
• Milka
• Mondelez International (Cadbury)
• Moonstruck Chocolatier Co.
• Nestle SA
• Neuhaus
• Suchard
• The Hershey Company
• Others

Segmentation:

By Chocolate Type

• Milk Chocolate
• Dark Chocolate
• White Chocolate
• Semisweeet Chocolate
• Bittersweet Chocolate
• Unsweetened Chocolate
• Cocoa Powder
• Sweet German Chocolate
• Couverture Chocolate
• Ruby Chocolate

By Product

• Moulded
• Countline

By Packaging Type

• Pouches and Bags
• Boxed Chocolate
• Others

By Application

• Baking chocolate
• Modeling chocolate
• Chocolate Bar
• Beverages

By Distribution Channel

• Online

  • E-Commerse
  • Company Owned Websites

• Offline

  • Hypermarket/Supermarket
  • Retail Stores
  • Specialty Stores

Widespread Availability Of Chocolate And Derived Goods Along With Rising Urbanization Will Power The Chocolate Market All Over The World

Widespread availability of chocolate and derived goods along with rising urbanization will power the chocolate market all over the world. Blood pressure-suppressing character, antioxidants-enrichment, and supposedly anti-aging features of chocolate will stay the major factors powering growth of chocolate products and chocolate. Dark chocolate that has a huge amount of cocoa is particularly suggested to slow down or stop aging and specific diseases, such as CVDs. These and more same perceived advantages of chocolate will carry on driving the requirement for chocolate in the global market.

A few latest researches show that consumption of chocolate helps in relieving stress as well as looking younger, which are predicted to further power the requirement for chocolate. A sweeping plethora of new applications of chocolate in confectionary & food products are predicted to power the requirement, whereas wide recognition of chocolate-flavored drinks, milk, ice creams, bakery products, liquor chocolates, and functional foods will sustain the requirement throughout the coming years.

Chocolates are still majorly believed as an inexpensive luxury in some areas of the world. Cost-sensitivity might detain the growth of chocolate market in some of the underdeveloped regions of the globe. In addition to this, the vague economy of the cocoa supply is expected to increase chocolate costs, which is claimed to be a major hurdle to market development.

Higher Consumption Of Chocolate Will Carry On To Add Up For The Leading Market Position Of North America

The global chocolate market is divided by geography into Asia Pacific, Europe, North America, and rest of the world (RoW). Attendance of a huge number of leading international chocolate companies and higher consumption of chocolate will carry on adding up for the leading market position of North America, particularly the US. Europe will be another main market, powered by Germany and the UK.

Asia Pacific, mainly India and China, is however predicted to surface at the quickest rate. This development is credited to increasing awareness about health advantages of chocolate and rising influence of the western lifestyle. Festive and seasonal sales are expected to have a solid foothold in developing Asian nations, such as India.

Market by Regional Analysis

North America

• U.S.
• Canada

Europe

• Germany
• France
• U.K.
• Italy
• Spain
• Sweden
• Netherland
• Turkey
• Switzerland
• Belgium
• Rest of Europe

Asia-Pacific

• South Korea
• Japan
• China
• India
• Australia
• Philippines
• Singapore
• Malaysia
• Thailand
• Indonesia
• Rest Of APAC

Latin America

• Mexico
• Colombia
• Brazil
• Argentina
• Peru
• Rest of South America

Middle East and Africa

• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest Of MEA