What is Chocolate Confectionery Market Scope?
The global chocolate confectionery market is expected to grow at a healthy pace during the forecast period, according to the AMA study. A rise in demand for premium chocolates seasonally and declining prices of cocoa beans are expected to be some of the major factors aiding the growth of the market. However, the market is expected to witness a decline in growth during FY 2020 but it is again expected to rise at a healthy pace after the COVID-19 pandemic is over.
Influencing Trend:
Growing Adoption of Online Sales Channel
Market Growth Drivers:
The Decline in Price of Cocoa Beans and Rise in Demand for Premium Chocolates Seasonally
Challenges:
Disrupted Supply Chain Across the World due to the Pandemic
Restraints:
Fluctuation in Raw Materials Prices
Opportunities:
Opportunities in the Asia Pacific Region
The Chocolate Confectionery market study is being classified by Type (Countlines, Bagged Selflines/Softlines, Seasonal Chocolates, Boxed Assortments, Chocolate Lollipops, Novelties, Molded Bars and Others), by Application and major geographies with country level break-up.
The vendors in this market are majorly focusing on developing innovative products and solutions in order to cater to the market's demands to remain competitive in the global market. According to the recent global industry crisis due to the outbreak of COVID-19 is expected to be one of the major challenges for the vendors of this market as the production and markets of different industries have been shut down for an ambiguous period of time. Analysts at AMA predicts that Vendors from United States will contribute to the maximum growth of Global Chocolate Confectionery market throughout the predicted period.
Tunnock’s (United Kingdom), Biscuits Leclerc Ltée (Canada), Ferrero Group (Italy), Nestlé S.A. (Switzerland), Mars, Inc (United States), Mondelēz International, Inc. (United States), The Hershey Company (United States), Belcholat Chocolate JSC (Vietnam), August Storck KG (Germany) and Chocolaterie Guylian NV (Belgium) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are Maestrani Schweizer Schokoladen AG (Switzerland) and Lindt & Sprüngli AG (Switzerland).
Segmentation Analysis
Analyst at AMA have segmented the market study of Global Chocolate Confectionery market by Type, Application and Region.
On the basis of geography, the market of Chocolate Confectionery 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).
Market Influencers and their Development Strategies
In May 2023, Reliance Consumer Products, the FMCG arm of Reliance Retail, acquired a controlling 51% stake in Lotus Chocolate Company Ltd. for Rs 74 crore. This move is seen as Reliance's expansion into the confectionery market and aims to leverage Lotus's established manufacturing and distribution network.
In October 2023, DS Group, a leading Indian food manufacturer, acquired the chocolate brand LuvIt. This acquisition aims to strengthen DS Group's presence in the chocolate and confectionery space and potentially increase its market share fivefold.
Stringent Government Regulations Regarding Lock-Down of Cities & Shutting Down of Operations Across Different Industries Across the World Due to the COVID-19 Pandemic is Impacting the Demand for Chocolate Confectionery Market
Key Target Audience
Manufacturer, Suppliers & Distributors, New Entrance, Potential Investors and Others
Chocolate Confectionery Market Study: Important Years
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Historical Period | 2018-2023 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Analyst View
Research Says, "Since the COVID-19 virus outbreak in December 2019, the disease has spread to more than 200 countries across the world along with the World Health Organization declaring it a public health emergency. The impact of the COVID-19 has already hit many industries and will affect the chocolate confectionery market in FY 2020. The outbreak of COVID-19 has brought effects on many aspects, like scheduled public transportation cancellations; downfall in the real estate sector; travel bans and quarantines; closed operations across hotels & restaurants; banning of public gatherings & events; large slow-down in the supply chain of different markets; stock market unpredictability; declining business assurance, and uncertainty in the future market dynamics."
Major Highlights of Market Study
Demand Determinants: Identifying top-notch application and business segments that seek high growth potentials in Chocolate Confectionery Market.
Key Strategic Developments: To target untapped regions more aggressively by focusing on product/service developments, innovation and R & D, new launches, Merger & acquisitions, JVs & partnerships.
Forces & Market Dynamics: Growth drivers, restraints & opportunities available in Chocolate Confectionery industry is examined with reference relevant market sectors and sub-sectors.
Customization available in this Study:
The Study can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs.
To compete effectively, companies also require quantitative estimates of the future growth and qualitative nature of the market. AMA Research features not just specific market sizing estimates, but also includes significant value-added commentary on Technological Trends and Innovations, Regulatory Policies, Market Maturity Indicators, Market Share Movements, New Entrants into the Market & Entry/Exit Barriers, Consumer Demographics, Supporting Company Financial and Cash Flow Planning, Open Up New Markets, To Seize Powerful Market Opportunities, Key Decision in Planning and to Further Expand Market Share, Identify Key Business Segments, Market Proposition & Gap Analysis.