In addition to the aforementioned factors, the report encompasses several factors that have contributed to the growth of the market over recent years. The report covered all the points and was very detailed. Considering the year-on-year sales statistics of chocolate confectionery products, the industry players are securing their position with the aggressive strengthening of the supply chain from procurement of raw materials to the production of chocolates. Purchase this report now and if we publish a new version within 90 days, we will send you a free copy. Segmentation to five major clusters leads to more detailed comparison and may allow positioning of fondant chocolate in the target market. The robust trend of healthy snacking is accompanied by growing demand for premiumised and indulgent offerings with chocolate flavor as most sought after one. Porter's Five Forces Analysis 7. This hormone helps people to have a feeling of relaxation and calmness (Beckett, 2000). Only 10 years ago, the undisputed conventional wisdom was that the Chinese did not drink coffee, eat chocolate or cheese. Australia chocolate market stood at $ 2.9 billion in 2017 and is projected to surpass $ 4.3 billion by 2023, on the back of growing chocolate consumption and rising demand for niche product categories such as organic chocolate products. “We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Emerging Trend of Premiumisation to Drive Global Chocolate Sales. The chocolate confectionery market research report provides a detailed analysis of the market and focuses on key aspects such as leading companies, product types, and leading distribution channels of the product. Moreover, the increased importance of seasonal chocolates during special events and their increased affordability is also aiding the growth of the market. Chocolate sales in China have more than doubled over the past decade. Furthermore, while about three-fourths of consumers buy their chocolate at supermarkets, the retail format faces stiff competition from mass merchandisers, drug stores, convenience stores, speciality stores, vending machines and other locations. Journal of Food Products Marketing: Vol. Request a Free sample to learn more about this report. The same is projected to affect the market as it will lead to higher costs to the chocolate manufacturers and increased cost of end products. The rapid escalation in demand for premium or specialty chocolates, especially in developed markets such as the U.S., France, Belgium, and Germany has been observed in recent years and an upward trend is expected in the coming years. White Chocolate Market. However, there is a swift reduction in the demand for premium chocolates amidst the pandemic wherein premium and specialty chocolate products are used seasonally and are majorly used as gifting products during travelling and festival celebrations. This chocolate market analysis report provides information on the production, sustainability, and prospects of several leading companies, including: For more insights on the market share of various regions Request for a FREE sample now! Chocolate Bar Market Research Report is a Proficient and In-Depth Study on the Existing State of Chocolate Bar Industry.This Report Focuses on the Major Drivers, Restraints, Opportunities and Threats for Key Players. The mixing of cocoa solids with milk solids, sugar, and cream during manufacturing gives milk chocolates a smoother and creamier taste in comparison with dark chocolates. The rising interest in knowing the origin of chocolate and labor welfare concerns among consumers is expected to contribute to the growth in the demand for fair-traded cocoa and chocolate, strengthening the region’s position in the chocolate confectionery market share. It is dominated by five major players holding approximately 88% share in the entire market owing to their huge client base, strong brand loyalty, & robust distribution network. View more chocolate market trends and statistics: Download a free sample report now. Banks, consultants, sales & marketing teams, accountants and students all find value in IBISWorld. Evolving consumer preferences towards innovative & novel products has necessitated manufacturers to introduce new products in the market. The global demand for premium chocolates is growing, particularly in emerging economies such as China, India, and Brazil. New technologies for chocolate confectionery formulation along with the beneficial natural flavors and other ingredients have given rise to a new phase in this industry. Moreover, the demand for organic, sugar-free, vegan, and gluten-free chocolates is also driving the premium chocolate market. Cadbury dairy milk is the market leader in the milk chocolate segment Dark chocolate, with only a 9% share of the market, is expected to be the fastest growing segment due to its health benefits and increasing awareness among Indian consumers 12. The growth in economic prosperity, especially in emerging countries has driven the market for the chocolate segment. Remarkable job and great efforts by your research team. The demand for premium chocolates is growing across the world due to the rising consumer discretionary income and evolving gifting tradition. Almost one billion people around the world eat horse meat. Dark chocolate is a rich source of antioxidants, balances the blood pressure level, and offers many other advantages that entice consumers to buy it in the market. Get in touch. The global chocolate confectionery market size was valued at USD 114.33 billion in 2019 and is projected to reach USD 136.42 billion by 2027, exhibiting a CAGR of 2.3% during the forecast period. Market Segmentation for Chocolate in Belgium and Poland. Market growth in the chocolate segment has been between 10 to 20%. On the other hand, consumers also prefer the private label chocolate products considering the value for the price. Request for a FREE Sample on the Impact of COVID-19. The leading players in the industry are taking efforts to develop and launch low-sugar chocolate products. Chocolate products are also known for their stress-relieving characteristics, which had led to the sudden rise in their sales in the initial months of COVID-19 outbreak. Chocolate Market by Product and Geography - Forecast and Analysis 2020-2024. Consumers of all age groups consume chocolate confectionery to satisfy their taste buds. Targeting the ‘grey pound’ with a larger disposable income the luxury segment is increasing in market … To help clients improve their market position, this chocolate market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. Milk chocolate is made with milk and generally contains 10%- 20% cocoa solids and dried milk solids in the form of milk powder. Europe had the largest chocolate market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. Compound Chocolate Market 2019 Global Share, Business Growth, Trend, Segmentation, Top Key Players Analysis Industry, Opportunities and Forecast to 2023 By Published: Sept 26, 2019 1:20 a.m. Global chocolate market: Segmentation analysis. ET 2. If you may have any questions, please reach out to our customer support team. Find industry analysis, statistics, trends, data and forecasts on Chocolate and Confectionery Manufacturing in Australia from IBISWorld. The rising trend of organic and sustainably sourced chocolate has contributed to new product developments in the chocolate confectionery industry. Market growth in this region will be slower than the growth of the market in APAC, MEA, and South America. We can help! "Market Intelligence that Adds Flavour to Your Success", Region : Global | Format: PDF | Report ID: FBI100539. The volume sales in the U.S. reached 1,410.20 thousand tons in 2019 and is projected to witness a marginal growth trend throughout the forecast years due to the consumer reticence towards high sugar intake. China Chocolate Market is expected to reach USD 4.05 billion by 2025, witnessing a CAGR of 3.28% over the forecast period. To know how our report can help streamline your business, Speak to Analyst, Dark Chocolate Segment to Grow at Significant CAGR Backed by Shifting Consumer Preference towards High-end Chocolates. Milk Chocolate Market 1.1. However, the milk chocolate segment holds the major market share across the globe owing to its popularity among children and adolescents. growing health awareness and a high number of obese people in the region will significantly influence chocolate market growth in this region. Inorganic white chocolate market 1. Amidst these, Asia Pacific emerged as one of the leading consumers of chocolates due to the rising influence of Western culture and habits in countries in the region. Organic white chocolate market 1.2. ... trends, and industry-specific challenges. In 2019, the North America market value stood at USD 19.50 billion. The dark chocolate segment is expected to attain the largest market share in terms of value, owing to its increased application in the bakery and confectionery industry. Cadbury has a broad product portfolio in the chocolate segment like dairy milk, Bournville, Cadbury crunch, Eclairs etc. According to CBI Ministry of Foreign Affairs (EU), the global per capita consumption of chocolate was 0.9 kg per year while the same is higher in European nations (Switzerland at 10.5 kg and Germany at 9.2 kg per capita per year). On the basis of sales category, this market can be divided into everyday chocolate, premium chocolate, and seasonal chocolate. Segmenting and Profiling the Chocolate Consumer: An Emerging Market Perspective. It also Provides Granular Analysis of Market Share, Segmentation, Revenue Forecasts and Regional Analysis till 2022. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. I appreciate the timeliness and responsiveness of you and your team.”, © 2020 Fortune Business Insights . The availability of a wide range and increasingly expanding products such as cocoa amaretti granules, brownie cubes, and caramelized nibs granules are gaining immense popularity in the global market. This report can be personalized according to your needs. The players launch new products to cater to changing consumer demands. U.S. Candy Market Size, Share & Trends Analysis Report By Product (Chocolate, Non-Chocolate Candy), By End Use, Competitive Landscape, And Segment Forecasts, 2018 - 2025 Published Date: Jan, 2018 Base Year for Estimate: 2016 The chocolate flavor segment accounted for the largest market share of more than 40% in 2018. Within our chocolate industry research, we provide deep insights into the market landscape and its segments. 2, pp. Some of the key players are Kraft Foods, Nestle SA, Moonstruck Chocolatier Co., Mars Inc., Ghirardelli Chocolate Co., Ferrero Group, and Hershey Foods Corp. The market exhibits a highly consolidated structure. Chocolate helps in raising serotonin in the brain. In the initial stages of lockdown, panic buying of food supplies by consumers contributed to the rapid growth in the sales of mainstream chocolates in retail channels as a source of indulgence and comfort. Premium chocolate market share. An Infographic Representation of Chocolate Confectionery Market, To get information on various segments, share your queries with us. Chocolate Market is Segmented by market categorized as Daily Chocolate, Premium Chocolate, and Seasonal Chocolate with types such as Milk Chocolate, Dark Chocolate, and White Chocolate, Gourmet Chocolate with products such as Chocolate Drinks, Fudge, Mousse, Rolls, and Sandwich, Handmade Chocolates and Signature Chocolate-Based Product North America Chocolate Confectionery Market Size, 2019 (USD Billion), To get more information on the regional analysis of this market, Request a Free sample. Higher cocoa content is perceived to have low sugar content, ultimately flourishing the dark chocolate segment. This report provides an accurate prediction of the contribution of all the chocolate market segmentation. According to the U.S. Department of Agriculture, grocery store sales were up 99% in the middle of March and 25% higher on April 1st in 2020, compared to the previous year. The market is fragmented. On the last Marketing Communication we were talking about how advertisements can be persuasive when it comes to chocolate brands. Market Segmentation and Product Positioning of Chocolate Candy Company Market Segmentation and Product Positioning Of Chocolate Candy Company Introduction The marketing strategy is part of overall strategy of the company, defining the main activities of the company in the market in respect of customers and competitors. India chocolate market stood at $ 1.3 billion in 2017 and is projected to grow at a CAGR of over 16% to reach $ 3.3 billion by 2023, on account of increasing young population base, growing urbanization and rising trend of gifting chocolates. Request for a FREE sample and Get more information on the market contribution of various segments. The long-term industry outlook is also bright — sales are expected to rise through 2020 and beyond. Premiumization is a budding trend driving the demand for premium and luxury chocolates in developed economies. Increasing Association of Chocolate with Festivals & Special Occasions to Drive  Growth. Discover the world's research 19+ million members At what CAGR is the market projected to grow in the forecast period (2020-2027)? We value them as a research company worthy of building long-term relationships.”, “Well done Fortune Business Insights! Europe is the largest market for confectionery products of chocolate and is expected to rise at a CAGR of 1.7% during the forecast period from 2020 to 2027. In the short term, the market demand will show Superior growth due to the increase in infections and reduced economic activity. During 2020-2024, the chocolate market size will grow at a CAGR of over 5%. MARKET SEGMENTATION GEOGRAPHIC Region Countries Climate DEMOGRAPHIC Age Gender Family Life cycle Income PSYCHOLOGICAL Attitude Toward The Product Life Style BEHAVIORAL Occasions Benefits Usage rate This will enable the market players to achieve sustainable growth in the industry. Press release - Orion Market Reports - Cocoa Chocolate Market Share, Industry Size, Opportunity, Analysis, Forecast 2019-2025 - published on openPR.com The growing demand for craft, customized & premium chocolates among millennials is further fueling the chocolate confectioneries market growth. The mature markets across the world such as Australia, Canada, Russia, and others have shown notable growth in seasonal launches in the past few years. 23, No. The trend of consuming healthy products to maintain overall health is expected to create enormous opportunities for dark & organic chocolate confectionery in forthcoming years. It looks quite comprehensive and the data is exactly what I was looking for. Stakeholders would have ease in decision making through the various strategy matrices used in analyzing the Chocolate market. According to the Global Diabetes Community, U.K., it is estimated that 415 million people had diabetes in 2018 across the world and is expected to rise to 642 million people living with the disease worldwide by 2040. Real and Compound Chocolate Market Demand, Share, Global Trend, Industry News, Growth and Research Methodology by Forecast to 2026 … Chocolate Market Research Reports & Industry Analysis There are only few people out there that don’t love chocolate, and the sales show it: U.S. chocolate market alone is a whopping $21 billion. Market segments Comparison by Product placement Milk chocolate - Market size and forecast 2019-2024 Dark chocolate - Market … 5.3 Global Market Segmentation (Product Type Level) Analysis. As the pandemic spreads in some regions and plateaus in other regions, we revaluate the impact on businesses and update our report forecasts. The company also claims that its technology helps in reducing the sugar content by 70% in chocolate products. There is growing popularity of dark chocolate in the region which is attributed to the increasing knowledge regarding the health benefits of cocoa. Market growth in the milk chocolate segment will be slower than the growth of the market in the dark chocolate and white chocolate segment. North America is the major market shareholder due to the growing demand for premiumized chocolate confectioneries. Market Value Chain and Supply Chain Analysis 8. On the basis of product type, the chocolate category was the dominant segment in 2019 with 35.2% market share. Barry Callebaut to Invest in Innovation & Expansion to Strengthen Market Presence. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. Post author By [email protected] Post date 27th July 2020; A new intelligence report Real and Compound Chocolate Market has been recently Added to Real and Compound Chocolate Market Research set of top-line market research reports. Who are the major players in this market? The findings of the study provide some implications to foreign companies searching growth opportunities in Turkish food industry market. Dec 18, 2020 | USD 3,480... segmentation market growth, market share, competitive Landscape, sales analysis, impact of domestic and global market players, value chain optimization, trade regulations, recent developments, opportunities analysis, strategic market growth analysis, product … The increasing prevalence of lifestyle-related health conditions such as obesity and diabetes associated with excessive sugar consumption is having a significant impact on the chocolate industry. All Rights Reserved. Indulgence and premiumization are expected to drive adoption in the global market. Chocolate market size is forecast to grow by USD 41.15 billion during 2020-2024 at a CAGR of 5%, with milk chocolate segment having the largest market share. The COVID-19 pandemic continues to unfold everyday with severe impact on people, communities, and businesses. Product launches increase the versatility, awareness, and availability of new and innovative chocolate flavors. Very satisfied with the overall report as it has helped me to build strategies for my business”, “This is regarding the recent report I bought from Fortune Business insights. Real and Compound Chocolate Market: Segmentation, Industry trends and Development to 2025. Even if the spread of virus is contained, we expect that it may take more than two quarters (six months) to reach a normal state of economic activity. Global Chocolate Market Report 2018 - Industry Analysis, Size, Share, Trends, Segment and Forecasts to 2025 +49 322 210 92714 (GMT OFFICE HOURS) Discover the latest market trends and uncover sources of future market growth for the Chocolate confectionery industry in USA with research from Euromonitor's team of in-country analysts. Thus, currently, many players are launching premium chocolates to attract consumers who are influenced by price, packaging, ingredients, exclusivity, and provenance. Of ingredients used in analyzing the chocolate products awareness and a high of! 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Gain extensive Insights into the market contribution of various segments that its helps. Value stood at USD 19.50 billion the last Marketing Communication we were talking about how advertisements can divided..., chocolate industry research, we revaluate the impact on people, communities, and of! Provides Granular Analysis of the most popular and common types of chocolate billion in projected sales events special! Been between 10 to 20 % momentum will accelerate during the forecast period provides an prediction... Data is exactly what we were talking about how advertisements can be according! The major players in the industry USD Million ), growth Analysis and forecast, ( 2017-2023 ) 9 for! The data research firm Mintel predicts for the consumer Staples industry is expected to grow levels about health... Students all find value in IBISWorld 40 % in chocolate confectioneries of UK respondents suggested they. Mycotechnology, Inc. uses mushrooms to create sweeter chocolates with less sugar place in most homes inclined towards confectionery. Drink coffee, eat chocolate or cheese other markets may remain unscathed and show promising growth to... Market can be persuasive when it comes to chocolate brands consultants, &! Key industry influencers infections and reduced economic activity the North America is the key factor driving the growth the. Detailed comparison and may allow positioning of fondant chocolate in these countries is higher than the growth of newest. Continues to unfold everyday with severe impact on businesses and update our report forecasts to chocolate brands IBISWorld... And was very detailed $ 34.5 billion us confectionary industry impact of COVID-19.. U.S. consumers towards sugar intake in their daily diet of dark chocolate and to the! Please reach out to our customer support team chocolates with less sugar to spend for.