Chocolate Market size was valued at US$ 138.07 Bn in 2022 and the total revenue is expected to grow at 5.1% through 2023 to 2029, reaching nearly US$ 195.58 Bn.
Chocolate Market Overview:
Maximize Market Research’s new report, Global Chocolate Market 2021-2027, is useful for understanding the market’s competitors. The research provides a broad and basic examination of the market, including an examination of subjective factors that might provide readers with vital business insights. The research provides a market overview that explains the value chain structure, geographical analysis, applications, market size, and forecast (2021-2027). The research will serve as a vehicle for a more accurate assessment of the current and future conditions of the worldwide Chocolate Market.
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Chocolate Market Scope:
The research provides an analytical view of the business by studying several elements such as worldwide Chocolate market growth, consumption volume, market trends, and company pricing structures throughout the projected period. The analysis includes extensive research to explore the market’s complexities. The research provides an overview of the worldwide Chocolate market, including market characteristics, market segmentation analysis, market size, customer landscape, and geographical landscape. The study considers growth drivers, current trends, advancements, prospects, and the competitive environment in its research. This market has been examined in several areas based on productivity and manufacturing base.
Chocolate Market Segmentation:
The global chocolate market is divided into three categories based on products: Milk Chocolate, Dark Chocolate, and White Chocolate. In 2022, the Dark Chocolate category accounted for 70.7% of the market. The demand for dark chocolate, which has a cocoa content of at least 60% and is believed to provide health advantages like lowering the risk of cardiovascular diseases and enhancing blood flow, is going to increase over the forecast period. Dark chocolate consumption has a number of positive health effects, including a reduction in anxiety and an improvement in the symptoms of clinical depression. The category is anticipated to grow during the projected period as consumers increasingly recognize dark chocolate as a nutritious food.
The global chocolate market is divided into Everyday Chocolate, Premium Chocolate, and Seasonal Chocolate based on sales category. In 2020, the Everyday Chocolate sector accounted for 82% of the market. because of the reasonable price. While during festive events, demand for seasonal chocolate increases. Additionally, a huge population in a low-income economy contributes to the great demand for affordable and mid-range chocolate. Particularly during Christmas, Easter, and Diwali, demand increases. The market for fine chocolate is expanding steadily.
The global chocolate market is divided into Online Channel, Departmental Store, Supermarket, Hypermarket, and Others based on the distribution channel. During the projected period, the global chocolate market is anticipated to develop at a higher CAGR of 5.6% for the Online Channel segment. Due to alluring deals and brands, the online channel is growing in popularity and market share among Indians. Growing numbers of new internet users in developing nations offer encouraging growth. Online chocolate sales have been enhanced by convenience, ease of use when searching, billing, a large selection of items, discounts, and promotions.
Chocolate Market Size and Forecast, by Product (2022-2029)
1. Milk Chocolate
2. Dark Chocolate
3. White Chocolate
Chocolate Market Size and Forecast, by Sales Category (2022-2029)
1. Everyday Chocolate
2. Premium Chocolate
3. Seasonal Chocolate
Chocolate Market Size and Forecast, by Distribution Channel (2022-2029)
3. Online Channel
3. Departmental Store
3. Supermarket
4. Hypermarket
5. Others
Chocolate Market Size and Forecast, by Region (2022-2029)
1. North America
2. Europe
3. Asia Pacific
4. Middle East and Africa
5. South America
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Chocolate Market Key Players:
It then discusses the top competitors in the worldwide Chocolate market, as well as emerging players, in detail, including market share based on revenue, demand, high-quality product makers, sales, and service providers. In addition, the research assesses capacity utilization, raw material sources, import-export, the value chain, price structure, and the industrial supply chain. The following players are featured in this report:
1. Kraft Foods
2. Nestle
3. Moonstruck Chocolatier Co.
4. Mars Inc.
5. Ghirardelli Chocolate Co.
6. Ferrero Group
7. Hershey Foods Corp.
8. Cadbury
9. Meiji Co Ltd
10.Arcor
11.Ezaki Glico Co Ltd
12.August Storck KG.
13.Barry Callebaut
14.Amul
15.Lindt & Sprüngli Ag.
16.Chocoladefabriken Lindt & Sprungli
17.Cargill
18.Olam International
19.Fuji Oil Company Ltd.
20.ECOM Agroindustrial Corporation Ltd.
21.Cocoa Processing Co. Ltd.
22.Touton S. A.
23.BD Associates Ghana Ltd.
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Regional Analysis:
The report has analyzed the global Chocolate market in the following regions:
- America, North (the United States, Canada, and Mexico)
- European Union (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe)
- Asia-Pacific region (China, Japan, Korea, India, Southeast Asia, and Australia)
- Latin America (Brazil, Argentina, Colombia, and Rest of South America)
- Africa and the Middle East (Saudi Arabia, UAE, Egypt, South Africa, and Rest of the Middle East & Africa)
The research provides comprehensive insights into numerous development opportunities and challenges in the regions mentioned above based on various types of goods, applications, end-users, and countries, among others. The research also includes key features of the worldwide Chocolate market, such as sales growth, product price and analysis, growth potential, and suggestions for tackling market issues in the given regions.
COVID-19 Impact Analysis on Chocolate Market:
COVID-19 is an unprecedented worldwide public health emergency that has impacted practically every business, and the long-term impacts are expected to have an influence on industry growth throughout the projection period. Our continuing study expands our research methodology to include fundamental COVID-19 concerns and potential next steps. The research provides insights on COVID-19 by taking into account changes in consumer behavior and demand, purchasing patterns, supply chain re-routing, the dynamics of contemporary market forces, and substantial government initiatives. The revised report contains insights, analysis, projections, and predictions based on the influence of COVID-19 on the market.
Key Questions Answered in the Chocolate Market Report are:
- Which are the major companies in the Chocolate market?
- Which is the potential market for Chocolate in terms of the region?
- Which application area of Chocolate is expected to grow at a significant rate in the market in the next 5 years?
- What are the opportunities for new market entrants?
- What will be the Chocolate market size by 2027?
- What are the growth prospects for the Chocolate market?
- What is the base year considered in the Chocolate market report?
- Which region holds the largest market share in the Chocolate market?
- What factors are anticipated to drive the Chocolate market?
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