Chocolate Market

Global Chocolate Market by Categories (Compound Chocolate and Pure Chocolate), Product Types (Dark Chocolate, Milk Chocolate, White Chocolate, and Others), Product Forms (Countlines, Molded, and Others), Processed Types (Chocolate Bar, Chocolate Spread, and Chocolate Syrup), Pricings (Everyday Chocolate, Seasonal Chocolate, and Premium Chocolate), Distribution Channels (Convenience Stores, Direct Sales (B2B), Online Stores, Supermarkets/Hypermarkets, and Others), Applications (Beverages, Food Products [Bakery Products, Desserts, Sugar Confectionery, and Others], and Others), and Regions (Asia Pacific, North America, Europe, Latin America, and Middle East & Africa) Forecasts, 2021-2028

  • Report ID: FB-2826
  • Author: Growth Market Reports
  • Rating: 4.9
  • Total Reviews: 32
  • No. Of Pages: 189
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The global chocolate market is expected to expand at a high CAGR during the forecast period, between 2021 and 2028. Chocolate is made by baking cacao seeds collected from Theobroma cacao tree pods. Cacao beans are picked, dried, fermented, and crushed into paste. The paste is next subjected to high pressure in order to separate the cocoa butter and chocolate liquor.

These two ingredients are then combined in various quantities to produce dark, couverture, white, milk, cocoa powder, as well as baking chocolate. Chocolate contains a variety of alkaloids, including phenethylamine, caffeine, theobromine, and flavonoids, and is widely used in the manufacturing of bakery and confectionery items such as cookies, puddings, cakes, and brownies.

Global Chocolate Market Summary

Market Trends, Drivers, Restraints, and Opportunities

  • Increasing growth of the food and beverage industry is estimated to significantly drive the market expansion.
  • Premiumization of chocolate-based products, use of aesthetically appealing packaging to grab consumers' attention, and manufacturing of vegan, organic, sugar, and gluten-free chocolates are estimated to propel the market.
  • Rising demand for chocolate-based baked items and desserts, higher living standards, and rising investments by prominent producers in the development of novel chocolate varieties are likely to boost the market expansion.
  • Rising concerns about oral health and obesity as a result of chocolate consumption are hindering the market growth.
  • Fluctuations in raw material prices as well as an over-reliance on unstable economies for cocoa supply are limiting the future growth.
  • Creating a variety of gourmet chocolates and making organic chocolates can create lucrative opportunities in the coming years.

Scope of Chocolate Market Report

The report on the global chocolate market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.

Attributes

Details

Report Title

Global Chocolate Market - Industry Analysis, Size, Share, Growth, Trends And Forecast

Base Year

2020

Historic Data

2018 & 2019

Forecast Period

2021–2028

Segmentation

Categories (Compound Chocolate and Pure Chocolate), Product Types (Dark Chocolate, Milk Chocolate, White Chocolate, and Others), Product Forms (Countlines, Molded, and Others), Processed Types (Chocolate Bar, Chocolate Spread, and Chocolate Syrup), Pricings (Everyday Chocolate, Seasonal Chocolate, and Premium Chocolate), Distribution Channels (Convenience Stores, Direct Sales (B2B), Online Stores, Supermarkets/Hypermarkets, and Others), Applications (Beverages, Food Products [Bakery Products, Desserts, Sugar Confectionery, and Others], and Others)

Regional Scope

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

Report Coverage

Market scope, analysis, share, competitive analysis, growth facts, restraints, opportunities, and revenue forecast

Key Players Covered in the Report

Lindt & Sprüngli AG, The Australian Carob Co., Nestle, Barry Callebaut, Ferrero Group, Olam International, Mars Incorporated, Meiji Holdings Co., Ltd., The Hershey Company, and Arcor

Chocolate Market Segment Insights

Pure chocolate segment is projected to hold significant market share

Based on categories, the chocolate market can be bifurcated into compound chocolate and pure chocolate. The pure chocolate segment is projected to hold a significant market share due to increase in specialty chocolate products and premium offerings. Cocoa extracts are becoming a preferred ingredient in a wide range of products, including confectionary, decadent baked goods, ice cream, non-alcoholic beverages, and healthy drinks.

The accessibility of cocoa butter substitutes and replacements at reasonable rates, such as palm oil, sal nut oils, and shea butteris encouraging compound chocolate makers to expand their production capacity, which is a positive factor for the compound chocolate segment.

Dark Chocolate segment is anticipated to account for a substantial share

On the basis of product types, the chocolate market can be segmented into dark chocolate, milk chocolate, white chocolate, and others. The dark Chocolate segment is anticipated to account for a substantial share due to the growing understanding of the health benefits of dark chocolate, such as lower cholesterol, lower risk of cardiovascular disease, and lower blood pressure.

Furthermore, dark chocolate contains a high percentage of cocoa, which is advised to prevent aging and certain diseases such as CVDs. Furthermore, studies suggest that eating chocolate helps to relieve stress.

Global Chocolate Market Product Types

Molded form segment to register a substantial growth rate during the forecast period

In terms of product forms, the chocolate market can be divided into countlines, molded, and others. Molded chocolates prevent the chocolate from melting too quickly once it has been placed into the mold. This increases the finished product's shelf life.

Consumer preference for molded chocolates, which often feature solid-shaped or segmented bar/block variations infused with various additional flavors or loaded with almonds, and raisins, and other fillings, driving the molded form segment expansion.

Chocolate bar segment to expand at a rapid pace in the coming years

Based on processed types, the chocolate market can be fragmented into chocolate bar, chocolate spread, and chocolate syrup. The chocolate bar segment is anticipated to expand at a rapid pace in the coming years. Chocolate bar consumption reduces the release of cortisol, a stress hormone.

Rather than relying on medication, it is preferable for consumers to incorporate items in their normal diet that alleviate a health concern. Chocolate bar is known for its ability to ease the mind and induce happiness, thus it is projected that sales of chocolate bars can rise in the coming years.

Seasonal pricing segment expand at a substantial growth rate in the near future

On the basis of pricings, the chocolate market can be segmented into everyday chocolate, seasonal chocolate, and premium chocolate. Chocolates are also connected with a sign of thanks, love, and happiness, and are presented as gifts during the holiday season, driving the seasonal pricing segment. They are made in a variety of forms, sizes, colors, and product materials depending on the occasion.

Supermarkets/hypermarkets segment register a robust pace during the projected timeline

In terms of distribution channels, the market can be segregated into convenience stores, direct sales (b2b), online stores, supermarkets/hypermarkets, and others. The supermarkets/hypermarkets segment is estimated to register a robust pace during the projected timeline. The high availability of products in supermarkets and hypermarkets is a fundamental element driving the segment expansion.

Furthermore, manufacturers are opening outlets in malls in response to rising customer demand for chocolate, which can drive sales of chocolate through supermarkets and hypermarkets in the future.

Global Chocolate Market Distribution Channels

Confectionery segment expand at high CAGR in the analysis period

Based on applications, the chocolate market can be fragmented into beverages, food products, and others. The  food products segment can be further classified as bakery products, desserts, sugar confectionery, and others.

The confectionery segment is projected to expands at a high CAGR during the forecast period.
In comparison to sugar and gum confectioneries, the majority of real and compound chocolate is channeled for the manufacturing of the chocolate confectionery.

Global Chocolate Market Application

North America is expected to dominate the market

In terms of regions, the chocolate market can be categorized as Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America is expected to dominate the market. Chocolate is one of the most preferred desserts in North America, accounting for around one-fourth of global sales.

North America is a lucrative regional market, particularly for genuine chocolate manufacturers owing to  consumers’ willingness to pay high prices for premium chocolate products. In North America, the demand for premium chocolate and organic chocolate has taken hold, as customers are increasingly drawn to items created from natural ingredients and providing considerable health benefits.

Global Chocolate Market Region

Segments

By Categories

  • Compound Chocolate
  • Pure Chocolate

By Product Types

  • Dark Chocolate
  • Milk Chocolate
  • White Chocolate
  • Others

By Product Forms

  • Countlines
  • Molded
  • Others

By Processed Types

  • Chocolate Bar
  • Chocolate Spread
  • Chocolate Syrup
  • Others

By Pricings

  • Everyday Chocolate
  • Seasonal Chocolate
  • Premium Chocolate

By Distribution Channels

  • Convenience Stores
  • Direct Sales (B2B)
  • Online Stores
  • Supermarkets/Hypermarkets
  • Others

By Applications

  • Beverages
  • Food Products
    • Bakery Products
    • Desserts
    • Sugar Confectionery
    • Others
  • Others

By Regions

  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa

By Key Players

  • Lindt & Sprüngli AG
  • The Australian Carob Co.
  • Nestle, Barry Callebaut
  • Ferrero Group
  • Olam International
  • Mars Incorporated
  • Meiji Holdings Co., Ltd.
  • The Hershey Company
  • Arcor

Competitive Landscape

Key players in the chocolate market are Lindt & Sprüngli AG, The Australian Carob Co., Nestle, Barry Callebaut, Ferrero Group, Olam International, Mars Incorporated, Meiji Holdings Co., Ltd., The Hershey Company, and Arcor.

These players have widely engaged in several market development activities such as collaborations, agreements, mergers & acquisitions, production capacity expansion, new product launches, and partnerships to increase their market share.

Global Chocolate Market Key Players

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Chocolate Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Chocolate Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Chocolate Market - Supply Chain
  4.5. Global Chocolate Market Forecast
     4.5.1. Chocolate Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Chocolate Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Chocolate Market Absolute $ Opportunity
5. Global Chocolate Market Analysis and Forecast by Types
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Types
     5.2.2. Y-o-Y Growth Projections by Types
  5.3. Chocolate Market Size and Volume Forecast by Types
     5.3.1. Dark Chocolate
     5.3.2. Milk Chocolate
     5.3.3. White Chocolate
     5.3.4. Others
  5.4. Absolute $ Opportunity Assessment by Types
  5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Chocolate Market Analysis and Forecast by Region
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Region
     6.2.2. Y-o-Y Growth Projections by Region
  6.3. Chocolate Market Size and Volume Forecast by Region
     6.3.1. North America
     6.3.2. Latin America
     6.3.3. Europe
     6.3.4. Asia Pacific
     6.3.5. Middle East and Africa (MEA)
  6.4. Absolute $ Opportunity Assessment by Region
  6.5. Market Attractiveness/Growth Potential Analysis by Region
  6.6. Global Chocolate Demand Share Forecast, 2019-2026
7. North America Chocolate Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
  7.2. North America Chocolate Market Size and Volume Forecast by Country
     7.2.1. U.S.
     7.2.2. Canada
  7.3. Absolute $ Opportunity Assessment by Country
  7.4. North America Chocolate Market Size and Volume Forecast by Types
     7.4.1. Dark Chocolate
     7.4.2. Milk Chocolate
     7.4.3. White Chocolate
     7.4.4. Others
  7.5. Basis Point Share (BPS) Analysis by Types
  7.6. Y-o-Y Growth Projections by Types
  7.7. Market Attractiveness/Growth Potential Analysis
     7.7.1. By Country
     7.7.2. By Product Type
     7.7.3. By Application
  7.8. North America Chocolate Demand Share Forecast, 2019-2026
8. Latin America Chocolate Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Latin America Average Pricing Analysis
  8.2. Latin America Chocolate Market Size and Volume Forecast by Country
      8.2.1. Brazil
      8.2.2. Mexico
      8.2.3. Rest of Latin America
   8.3. Absolute $ Opportunity Assessment by Country
  8.4. Latin America Chocolate Market Size and Volume Forecast by Types
     8.4.1. Dark Chocolate
     8.4.2. Milk Chocolate
     8.4.3. White Chocolate
     8.4.4. Others
  8.5. Basis Point Share (BPS) Analysis by Types
  8.6. Y-o-Y Growth Projections by Types
  8.7. Market Attractiveness/Growth Potential Analysis
     8.7.1. By Country
     8.7.2. By Product Type
     8.7.3. By Application
  8.8. Latin America Chocolate Demand Share Forecast, 2019-2026
9. Europe Chocolate Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Europe Average Pricing Analysis
  9.2. Europe Chocolate Market Size and Volume Forecast by Country
     9.2.1. Germany
     9.2.2. France
     9.2.3. Italy
     9.2.4. U.K.
     9.2.5. Spain
     9.2.6. Russia
     9.2.7. Rest of Europe
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Europe Chocolate Market Size and Volume Forecast by Types
     9.4.1. Dark Chocolate
     9.4.2. Milk Chocolate
     9.4.3. White Chocolate
     9.4.4. Others
  9.5. Basis Point Share (BPS) Analysis by Types
  9.6. Y-o-Y Growth Projections by Types
  9.7. Market Attractiveness/Growth Potential Analysis
     9.7.1. By Country
     9.7.2. By Product Type
     9.7.3. By Application
  9.8. Europe Chocolate Demand Share Forecast, 2019-2026
10. Asia Pacific Chocolate Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Asia Pacific Average Pricing Analysis
  10.2. Asia Pacific Chocolate Market Size and Volume Forecast by Country
     10.2.1. China
     10.2.2. Japan
     10.2.3. South Korea
     10.2.4. India
     10.2.5. Australia
     10.2.6. Rest of Asia Pacific (APAC)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Asia Pacific Chocolate Market Size and Volume Forecast by Types
     10.4.1. Dark Chocolate
     10.4.2. Milk Chocolate
     10.4.3. White Chocolate
     10.4.4. Others
  10.5. Basis Point Share (BPS) Analysis by Types
  10.6. Y-o-Y Growth Projections by Types
  10.7. Market Attractiveness/Growth Potential Analysis
     10.7.1. By Country
     10.7.2. By Product Type
     10.7.3. By Application
  10.8. Asia Pacific Chocolate Demand Share Forecast, 2019-2026
11. Middle East & Africa Chocolate Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Middle East & Africa Average Pricing Analysis
  11.2. Middle East & Africa Chocolate Market Size and Volume Forecast by Country
     11.2.1. Saudi Arabia
     11.2.2. South Africa
     11.2.3. UAE
     11.2.4. Rest of Middle East & Africa (MEA)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Middle East & Africa Chocolate Market Size and Volume Forecast by Types
     11.4.1. Dark Chocolate
     11.4.2. Milk Chocolate
     11.4.3. White Chocolate
     11.4.4. Others
  11.5. Basis Point Share (BPS) Analysis by Types
  11.6. Y-o-Y Growth Projections by Types
  11.7. Market Attractiveness/Growth Potential Analysis
     11.7.1. By Country
     11.7.2. By Product Type
     11.7.3. By Application
  11.8. Middle East & Africa Chocolate Demand Share Forecast, 2019-2026
12. Competition Landscape
  12.1. Global Chocolate Market: Market Share Analysis
  12.2. Chocolate Distributors and Customers
  12.3. Chocolate Market: Competitive Dashboard
  12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     12.4.1. Lindt & Sprüngli AG
     12.4.2. The Australian Carob Co.
     12.4.3. Nestle, Barry Callebaut
     12.4.4. Ferrero Group
     12.4.5. Olam International
     12.4.6. Mars Incorporated
     12.4.7. Meiji Holdings Co., Ltd.

By Categories

  • Compound Chocolate
  • Pure Chocolate

By Product Types

  • Dark Chocolate
  • Milk Chocolate
  • White Chocolate
  • Others

By Product Forms

  • Countlines
  • Molded
  • Others

By Processed Types

  • Chocolate Bar
  • Chocolate Spread
  • Chocolate Syrup
  • Others

By Pricings

  • Everyday Chocolate
  • Seasonal Chocolate
  • Premium Chocolate

By Distribution Channels

  • Convenience Stores
  • Direct Sales (B2B)
  • Online Stores
  • Supermarkets/Hypermarkets
  • Others

By Applications

  • Beverages
  • Food Products
    • Bakery Products
    • Desserts
    • Sugar Confectionery
    • Others
  • Others

By Regions

  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa

By Key Players

  • Lindt & Sprüngli AG
  • The Australian Carob Co.
  • Nestle, Barry Callebaut
  • Ferrero Group
  • Olam International
  • Mars Incorporated
  • Meiji Holdings Co., Ltd.
  • The Hershey Company
  • Arcor

Key players in the chocolate market are Lindt & Sprüngli AG, The Australian Carob Co., Nestle, Barry Callebaut, Ferrero Group, Olam International, Mars Incorporated, Meiji Holdings Co., Ltd., The Hershey Company, and Arcor.

These players have widely engaged in several market development activities such as collaborations, agreements, mergers & acquisitions, production capacity expansion, new product launches, and partnerships to increase their market share.

Global Chocolate Market Key Players

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