According to a recent market study published by Growth Market Reports, titled, "Global Fairtrade chocolate Market by sources, by types, by certifications, by sales channels, and by regions: Size, Share, Trends and Opportunity Analysis, 2017-2027", the market was valued at USD 11,372.83 Million in 2019 and is expected to grow at a rate of 15.2% by the year 2027. The global Fairtrade chocolate market is anticipated to grow significantly during the forecast period. Impulse purchasing behavior of consumers, increasing trend pertaining to fair trade chocolate consumption reducing child labor, increasing customer inclination towards organic Fairtrade chocolates, and increasing preference of consumers towards Fairtrade chocolate are some of the factors contributing to the market growth.

The global Fairtrade chocolate market has been segmented into sources, types, certifications, sales channels, and regions. In terms of sources, the Fairtrade chocolate market is categorized as organic Fairtrade chocolate, and regular Fairtrade chocolate. Based on types, the market is fragmented into bars, chips and chunks, and others. On the basis of certifications, the market is categorized as UTZ Certified, Fairtrade International Certified, Fairtrade USA Certified, Rainforest Alliance Certified, and others. Based on sales channels, the market is categorized as offline and online. The offline segment is further segmented into supermarkets, convenience stores, department stores, specialty stores, and others. The online segment is sub-segmented into company-owned websites, and e-commerce. On the basis of regions, the Fairtrade chocolate market is segmented as North America, Europe, Latin America, Asia Pacific, and Middle East & Africa.

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Implementation of stringent regulations pertaining to child labour in various countries is encouraging companies to shift their production unit and encourage farmers to produce Fairtrade chocolates instead of regular chocolates that involve child labour. Fairtrade practices in chocolate production help reduce the need for child labour, as workers earn fair wages, which result in a smaller number of children working to support their families. Cocoa used in Fairtrade chocolate is not harvested by children. Rising awareness regarding Fairtrade practices is anticipated to drive the market.

Production of Fairtrade chocolates promotes safe, and secure working environments. Fairtrade has ensured that millions of people all over the world are working in places that prioritize health and safety, thus they focus on eliminating the use of harmful chemicals. Market players of Fairtrade chocolates are focusing on promoting their products as 100% organic such as use of cocoa ingredients. Hence, increasing consumption of organic Fairtrade chocolates due to the promotional activities such as online sale acts as an opportunity for the market.

COVID-19 has significantly affected the sales of the Fairtrade chocolate market due to cancellations of orders, drop in the demand, and disruptions in supply chain due to restrictions on movement and transportation. Interruptions in the supply chain of Fairtrade chocolate across the globe due to the spread of COVID-19 has a moderate negative impact on product sales. Declining export of raw materials required for the production of Fairtrade chocolate has affected the overall market growth. Demand for Fairtrade chocolate is low due to COVID-19 crisis. For instance, festivals such as Easter and Halloween suffered from reduced consumption of chocolates. This, in turn, is anticipated to hamper the Fairtrade chocolate market.

As per Growth Market Reports industry analyst Rajas Shirwalkar, “The global Fairtrade chocolate market is anticipated to witness significant growth during forecast period 2020-2027. Manufacturers are increasingly turning towards organic chocolates which is anticipated to increase the demand for Fairtrade chocolates. Consumers have shown an inclination towards organic chocolates in most countries. Organic chocolates are mostly purchased from supermarkets and hypermarkets, owing to the unique variety of attractive products being offered in such places, ready packaging of products, appealing in-store promotions, and consistent quality. Additionally, consumers are willing to pay for high-end chocolates. Hence, manufacturers are turning towards organic chocolates which is anticipated to fuel the market.’

Key Takeaways from the Study

  • The market in UK has a significant market share and is expected to grow at substantial CAGR during the forecast period.
  • The organic Fairtrade chocolate segment is expected to hold a significant market share position during the forecast period.
  • The bar segment is anticipated to hold a significant market share during the forecast period.
  • The market in China has a significant market share and is expected to grow at substantial CAGR during the forecast period.

Report Scope

Report Metric

Details

Market Value in 2019

USD 11,372.8 Million

Market Growth Rate (from 2020 to 2027)

15.2%

Historical Data

2017 & 2018

Base Year

2019

Forecast Period

2020 – 2027

Market Segments

Sources, Types, Certifications, Sales Channels, and Regions.

Region Scope

North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.

Key Companies Profiled

Divine Chocolate Limited, Barry Callebaut, Chocolate and Love, Belvas Chocolate, Stella Bernrain, EMVI Chocolate, Endangered Species Chocolate, Fran's Chocolates, and Lily's Sweets.

Customization Scope

Report customization available on request

Pricing and Purchase Options

Avail tailor-made purchase options to meet your research requirements.

Target Audience

  • Demand Side: Chocolate industries, cocoa-industries, Fairtrade chocolate manufacturing, and others.
  • Regulatory Side: Concerned government authorities, commercial research & development (R&D) institutions, and other regulatory bodies. Associations and Industry Bodies: UTZ Certified, and others.