About Milk Chocolate
Milk chocolate is made by combining chocolate liquor, cocoa butter sugar, flavorings, and sweetened condensed or powdered whole milk which may be in the form of boiled milk, milk powder, or condensed milk. While making milk chocolate sugar and milk are blended together, then they are mixed with chocolate liquor and flavorings, and then the mixture is sent through the standard conching and refining processes. The United Government requires a 10% concentration of chocolate liquor in milk chocolate. Milk chocolate has various advantages such as memory booster, smoothening and hydrating the skin, improve blood flow, reduces the risk of heart strokes and attacks. The factors such as Increasing Consumption of Milk Chocolate Worldwide, Increased Disposable Income of the People, and Rise in the Promotional Activities by the Manufacturers are the key drivers for the global Milk Chocolate market. However, Fluctuating Prices Of Cocoa may restrain the market growth.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that Switzerland Vendors will contribute the maximum growth to Global Milk Chocolate market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Ferrero SpA (Italy), Nestle S.A. (Switzerland), Ezaki Glico Co., Ltd. (Japan), Mondelez International (United States), Blommer Chocolate Company (United States), Lindt (Switzerland), Godiva Chocolates (United States), Barry Callebaut (Switzerland), Brookside Dairy Limited (Kenya) and The Hershey Company (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Meiji Holdings Co., Ltd. (Japan) and Stollwerck GmbH.
Segmentation Overview
AMA Research has segmented the market of Global Milk Chocolate market by Type (Conventional Milk Chocolate and Organic Milk Chocolate), Application (Food and Beverages, Personal Care and Cosmetics and Pharmaceuticals) and Region.
On the basis of geography, the market of Milk 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 Distribution Chanel, the sub-segment i.e. Offline will boost the Milk Chocolate market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Form, the sub-segment i.e. Bar will boost the Milk Chocolate market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Trend of Attractive Packaging of Milk Chocolates
Market Growth Drivers:
Increasing Consumption of Milk Chocolate Worldwide, Increased Disposable Income of the People and Rise in the Promotional Activities by the Manufacturers
Challenges:
Encountering Widespread Government Regulation and Competitive Pressure
Restraints:
Fluctuating Prices Of the Cocoa
Opportunities:
Growing Awareness about Health Benefits of Chocolate, Growing Online Sales of Chocolates and Robust Increase in the Distribution Channels
Market Leaders and their expansionary development strategies
In May 2021, The Hershey Company has acquired Lily's, the high-growth, better-for-you (BFY) confectionery brand. Lily's low-sugar products include dark and milk chocolate style bars, baking chips, peanut butter cups and other confection products that fit Hershey's multi-pronged better-for-you snacking strategy. Lily's will add a key better-for-you confection brand to Hershey's portfolio of iconic chocolate and candy favorites.
Key Target Audience
Milk Chocolate Manufacturers, Raw Material Suppliers/ Buyers, Distributors, Government Body & Associations and End-user
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.