Chocolate Market Scope
Chocolate is a very well know sweet preferred by the consumers. The quality of chocolate depends upon the quality of cocoa. Chocolates are the most selling product in the confectionery industry, different ranges of chocolates are produced globally. The rising preference of chocolates from the consumer ends is an imperative factor that eventually aids the companies to focus on their product development. For instance, Mars Wrigley Confectionery, division of Mars Inc. (United States) is the biggest manufactures of chocolate, by net confectionery sales of 18,000 million USD in 2018.
The market study is being classified by Type (Dark Chocolate, Milk Chocolate and White Chocolate), by Application (Supermarket & Stores, Wholesale and retail, Online and Others) and major geographies with country level break-up.
Research Analyst at AMA predicts that Global Vendors will contribute to the maximum growth of Global Chocolate market throughout the predicted period.
Barry Callebaut (Switzerland), Cargill (United States), Nestle SA (Switzerland), Mars (United States), Hershey (United States), Blommer Chocolate Company (United States), FUJI OIL (Japan), Puratos (Belgium), Olam (Singapore) and Kerry Group (Ireland) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are Guittard (United States), Ferrero (Italy), Ghirardelli (United States), Alpezzi Chocolate (Mexico), Valrhona (France) and Republica Del Cacao (South America).
Segmentation Overview
AdvanceMarketAnalytics has segmented the market of Global Chocolate market by Type, Application and Region.
On the basis of geography, the market of Chocolate has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Sales Category, the sub-segment i.e. Everyday Chocolate will boost the Chocolate market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
On 16th July 2019, Nestle is launching new chocolate that ditches refined sugar. The company says that they have patented a new way to naturally sweeten chocolate using just the beans and pulp of the cocoa fruit, allowing the company to cut its use of refined sugar. The Swiss food giant plans to roll out a limited release in Japan using the pulp recipe in Kit Kat bars made from 70% dark chocolate.
Market Trend
- Growing Demand for Healthier Chocolates Such as Vegan, Organic, etc.
- Adoption of Sugar fewer Chocolates for Diet Concern People
Market Drivers
- Increasing Disposable Income of the Population in Emerging Countries of Asia Pacific
- Huge Demand for Chocolate on Seasonal and Festival Occasions
Opportunities
- Rising Awareness Regarding the Health Benefits of Chocolate Such as it Helps in Improving Blood Flow in Vessels
- New Product Launch in Developing Countries
Restraints
- High Cost of Raw Material
- High Cost of Premium Chocolate
Challenges
- Fluctuating Cost of Cocoa Beans
- Issues Related with the Counterfeit of Some Chocolate Products
Key Target Audience
Chocolate Manufacturers, Distributors, and Suppliers, Retail Store, Raw Material Suppliers, Potential investors, Food Industries and Others
Customization available in this Study:
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Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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