Industries > Food and Drink > Chocolate Market Report 2019-2029

Chocolate Market Report 2019-2029

Analysis by Product Type (Milk/White Chocolate and Dark Chocolate), by Distribution Channel (Supermarkets/Hypermarkets, Specialist Retailers, Convenience Stores, and Online Channels), by Sales Category (Everyday Chocolate, Premium Chocolate and Seasonal Chocolate), Company and Country Analysis and Forecasts

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WOOCS 2.2.1

Market Definition:
• Chocolates are the most consumed and profitable component of the confectionery industry.
• Different ranges of chocolates are produced based on the quantity of cocoa.
• Chocolates have been sourced as one of the excellent pressure suppressants and anti-ageing confectionery items.

Market Overview and Trends
• China, India, and Brazil are offering new variety of chocolates to improve differentiation, personalization, and premiumization of chocolates.
• Seasonal and festive sales of chocolate are increasing through the years.
• The key market trends in coming years will be the demand for organic, vegan, sugar-free, and gluten-free chocolates.
• Milk chocolates demand have increased due to its benefit in reducing cardiovascular diseases.

Market Dynamics:

Factors Influencing the Market Growth:
• Increase in demand for premium and seasonal chocolates during festive seasons has increased over the years.
• Consumers are preferring premium chocolates as gifts as they are more conscious about the brand and quality they consume.
• The rising income levels of the consumers and the changing lifestyles are the key factors resulting in the increase in purchase.
• Health benefit awareness such as antioxidants-enrichment, blood pressure-suppressing character, anti-ageing properties, stress reliever, among the consumers have increased the demand.
• Also, chocolate-flavoured milk, drinks, bakery products, ice creams, functional foods, and liquor chocolates will increase the market over the next few years.

Factors Restraining the Market Growth:
• Chocolates are considered to be a luxury product in some of the regions resulting in the less demand owing to the price of the product.
• The uncertain economy of the cocoa supply is likely to raise chocolate prices.

Market Segmentation 2019-2029:
The Chocolate Market is segmented on the Product type, Distribution Channel type, Sales Category type and Geography.

Product Type
• Milk/White Chocolate Market, 2019-2029
• Dark Chocolate Market, 2019-2029

Distribution Channel Type
• Supermarkets/Hypermarkets Market, 2019-2029
• Specialist Retailers Market, 2019-2029
• Convenience Stores Market, 2019-2029
• Online Channels Market, 2019-2029
• Other Distribution Channels Market, 2019-2029

Sales Category Type
• Everyday Chocolate Market, 2019-2029
• Premium Chocolate Market, 2019-2029
• Seasonal Chocolate Market, 2019-2029

Geographic Breakdown
Focused regional forecasts and analysis explore the future opportunities:
• North America Market, 2019-2029
• Europe Market, 2019-2029
• Asia-Pacific Market, 2019-2029
• LAMEA Market, 2019-2029

Competitive Analysis:
• The global chocolate market is highly competitive, with the presence of numerous leading players accounting for the major share.
• The new product launch is the preferred strategy in the global market.
• Manufacturers are attracting customers via ingredients, exclusivity, price, provenance, and packaging to attain maximum sales.

Major Market Players:
Ferrero, Lindt & Sprüngli, Nestlé, Mars, Incorporated, Cadbury, Dove Chocolate, Kinder, Ghirardelli Chocolate Company, The Hershey Company, Godiva Chocolatier, Milka, See’s Candies, Ritter Sport, Green & Black’s, Tootsie Roll Industries, Meiji, Whittakers, Wilbur Chocolate Company, Lotte, Guittard Chocolate Company, Kraft Foods, Valrhona, Droste, Marou, and Kraš.

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