Market Snapshot:
Premium chocolate offers greater value to its consumer than other chocolates as these are packaged with quality ingredients having good taste and being marketed in an efficient way. The emergence of healthy chocolate is forecast to rise gradually in number, creating huge opportunities for the investors involved in the premium chocolate market. The market of premium chocolates is dominated by urban consumers and top companies are focusing on launching new varieties to stay competitive in the market.The research analyst at AMA estimates Premium Chocolate market to grow at a compounded annual growth rate of 6.9%
Segment Analysis
AMA Research have segmented the market of Global Premium Chocolate market by Type, Application and Region. On the basis of Type, White and milk premium chocolate are dominating the market in the year 2020 where as Dark premium chocolate stood as second largest market share.
On the basis of geography, the market of Premium 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). North America region held largest market share in the year 2020. Europe on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement.
Market Trend
Increasing Demand for Organic, Vegan, Sugar-Free and Gluten-Free Premium Chocolates
Market Drivers
Increasing Disposable Income In Emerging Economies Such as India, China, Brazil and other and Huge Demand for Chocolate on Seasonal and Festival Occasions
Opportunities
New Product Launch in Developing Countries and Increasing Disposable Income In Emerging Economies Such as India, China, Brazil and other
Restraints
- The High Cost of Raw Material
- High Cost of Premium Chocolate
In addition to the aforementioned factor, Increasing Disposable Income In Emerging Economies Such as India, China, Brazil and other
is expected to propel the growth of the market over the forecast period.
The key Vendors profiled in the study are Chocoladefabriken Lindt & Sprüngli (Switzerland), Ferrero SPA (Italy), Mondelez International (United States), The Hershey Company (United States), Lake Champlain Chocolates (United States), Nestle (Switzerland), Artisan Confections (United States), Chuao Chocolatier (United States), VOSGES HAUT-CHOCOLAT (United States), Chocolates El Rey (Venezuela) and Mast Brothers (United States). A lot of United States players are profiled in the research study indicating a strong market dependence.