Chocolate Market was valued at USD 132 Billion in 2019 at a 4.3% CAGR over the forecast period.

Introduction of the Chocolate Market Research Report

Chocolate is made up of roasted and ground cacao seeds and is formed in liquid, paste, or block shapes. The most common type of chocolate which are widely available in the market includes dark chocolate, milk chocolate, and white chocolate. The procedure of making chocolate comprises of numerous steps such as cacao cultivation, harvesting, fermentation, drying & shipping, and producing chocolates.

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Rising consumer awareness related to the health benefits of chocolate is the key driver of the global chocolate market. The easy availability of a wide variety of chocolates and the gaining popularity of dark chocolate is further driving the demand of the market in the coming years. The chocolate contains milk, protein, and other nutrients, which promotes good health and lowers the risk of heart diseases. Chocolate consists of antioxidants that help in reducing blood pressure, cholesterol, and improves blood circulation. In addition to this, the growing disposable income of consumers, especially in the developing economies and the shift in the consumer’s demand towards healthy products, will further boost the demand for dark chocolates. Various multinational giants, including Ferrero and Hershey’s, are mainly focusing on product innovation, including different delicious flavors, which will attract a large number of consumers in the market. The growing trend of chocolate gifts in the seasonal and festive occasions is having a positive impact on the market. The target consumers of chocolate are children and millennials, irrespective of economic situations. The leading players are launching various marketing strategies and innovative packaging solutions to capture more demand into the market.

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Based on the Type, the market is segmented into dark chocolate, milk, and white chocolate. Among these, the dark chocolate segment is projected to grow at a higher CAGR over the forecast period. The dark chocolates are rich in nutrition, powerful source of antioxidants, and improves blood flow while reducing the chances of heart diseases. It also consists of a bioactive compound that promotes healthy and glowing skin. The rising consumer awareness regarding all these benefits provided by the dark chocolate is drastically surging the demand of the segment in the market.

Based on the Product, the market is segmented into softlines/selflines, countlines, moulded chocolates, and others. The moulded chocolate segment is anticipated to lead the market during the forecast period due to the rapid increase in the demand for premium chocolates, especially in the U.S. Moreover, the growing trend of gifting moulded chocolates on special occasions such as festivals, birthdays, and anniversaries will further propel the demand for this segment. The moulded chocolates consist of different milk, dark, and dry-fruit based chocolates and have attractive packaging.

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Based on the region, the Asia-Pacific region is expected to grow at a higher CAGR over the forecast period. The increasing influence of western culture and food habits, followed by the rapid increase in population rate, are the significant factors that will drive the market growth in this region. Moreover, several leading players are expanding their footprints in the Asian countries to capture the growing demand of the market. The rising disposable income of the target audience and the large population of millennials in many Asian countries will further strengthen the chocolate market growth.

Various notable players operating in the market, include Mars, Incorporated, Ferrero, Mondelez International, The Hershey Company, Nestle SA, Arcor Group, The Kraft Heinz Company, Ghirardelli Chocolate Company, Moonstruck Chocolate, Ezaki Glico Co Ltd., among others.

Key Developments:

• • In 2020, Mondelez International announced an agreement to acquire Give & Go, a North America in-stores bakery channel. With this acquisition, Give & Go., aims to expand their footprint into the snacks markets.
  • In 2019, Mars, Incorporated announced to launch its first vegan milk chocolate in the United Kingdom. With the product lunch, the company focus on capturing its target consumer of Galaxy brand by giving them a new variety.
  • In 2019, Ferrero launched the Golden Gallery Signature, a premium assortment of finely designed chocolates. With this product launch, the company has now entered into the category of assorted boxed chocolates.

The global Chocolate market has been segmented on the basis of type, Product, distribution channel and region. Based on type, the market is segmented into dark chocolate and white & milk chocolate. Based on product, the market is segmented into softlines/selflines, countlines, moulded chocolates, and others. Based on distribution channel, the market is segmented into supermarkets/ hypermarkets, specialist retailers, convenience stores, online channel and others.

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Key questions answered in this research report:

• • At what pace is global Chocolate market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Chocolate market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Chocolate market?
  • Which product generated maximum revenues in 2019 and identify the most promising products during the forecast period?
  • What are the various distribution channel areas of global Chocolate market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Base Year	2019
Market Forecast Period	2020-2027
Market Revenues (2019)	USD 132 Billion
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Type, By Product, By Distribution Channel, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	Mars, Incorporated, Ferrero, Mondelez International, The Hershey Company, Nestle SA, Arcor Group, The Kraft Heinz Company, Ghirardelli Chocolate Company, Moonstruck Chocolate, Ezaki Glico Co Ltd.; a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

 

Market Segmentation

Global Chocolate Market by Type

• • Dark Chocolate
  • Milk & White Chocolate

Global Chocolate Market by Product

• • Softlines/ Selflines
  • Countlines
  • Moulded Chocolates
  • Others

Global Chocolate Market by Distribution Channel

• • Supermarkets/ Hypermarkets
  • Specialist Retailers
  • Convenience Stores
  • Online Channel
  • Others

Global Chocolate Market by Region

• • North America Chocolate Market
    (Option 1: As a part of the free 25% customization)

• • • North America Chocolate Market by Type
    • North America Chocolate Market by Product
    • North America Chocolate Market by Distribution Channel
    • United States of America (US) Chocolate Market All-Up
    • Canada Chocolate Market All-Up
  • Europe Chocolate Market
    (Option 2: As a part of the free 25% customization)
    • Europe Chocolate Market by Type
    • Europe Chocolate Market by Product
    • Europe Chocolate Market by Distribution Channel
    • United Kingdom (UK) Chocolate Market All-Up
    • Germany All-Up Chocolate Market All-Up
    • France Chocolate Market All-Up
    • Spain Chocolate Market All-Up
    • Rest of Europe Chocolate Market All-Up
  • Asia-Pacific Chocolate Market
    (Option 3: As a part of the free 25% customization)
    • Asia-Pacific Chocolate Market by Type
    • Asia-Pacific Chocolate Market by Product
    • Asia-Pacific Chocolate Market by Distribution Channel
    • China Chocolate Market All-Up
    • India Chocolate Market All-Up
    • Japan Chocolate Market All-Up
    • Rest of APAC Chocolate Market All-Up
  • RoW Chocolate Market
    (Option 4: As a part of the free 25% customization)
    • RoW Chocolate Market by Type
    • RoW Chocolate Market by Product
    • RoW Chocolate Market by Distribution Channel
    • Brazil Chocolate Market All-Up
    • South Africa Chocolate Market All-Up
    • Saudi Arabia Chocolate Market All-Up
    • UAE Chocolate Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Chocolate Market All-Up

Global Chocolate Leading Market Players (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Mars, Incorporated
  • Ferrero
  • Mondelez International
  • The Hershey Company
  • Nestle SA
  • Arcor Group
  • The Kraft Heinz Company
  • Ghirardelli Chocolate Company
  • Moonstruck Chocolate
  • Ezaki Glico Co Ltd.

Chocolate Market [UP85A-00-1119