Global Chocolate Market Report Description:
Global chocolate market report gives comprehensive outlook on chocolate across the globe with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. The report on global chocolate market gives historical, current, and future market sizes (US$ Mn) on the basis of type, product, distribution channel and region. This report studies global market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, global chocolate market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed global chocolate market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product opportunities). Key stakeholders of the global chocolate market report include suppliers, manufacturers, marketers, policy makers, and healthcare service providers engaged in global chocolate products.
Global Chocolate Market:
The global chocolate market was valued US$ 125.8 Bn in 2018 and poised to grow at significant CAGR of 7.4% over 2020-2026. Some of the key factors fostering the market growth include increased preferences for dark chocolate, wide spread availability of chocolate products, growth of the food services sector, surge in consumer preferences towards confectionery items and growing consumption of cocoa powder. However, uncertain economy of the cocoa supply is hindering the market growth.
Growing Consumption of Cocoa Powder are Fueling the Market Growth
Cocoa is one of the richest sources of polyphenols. It’s particularly ample in flavanols, which have potent antioxidant and anti-inflammatory effects. Increasing production of confectionery syrup and chocolates will continue to drive demand of cocoa powder internationally. As growing consumption of the cocoa powder benefits the cardiovascular health, demand for cocoa powder for the production of various food products is likely to remain high. As it is rich in minerals and vitamins, manufacturers are gradually witnessing demand for cocoa powder for the production of soaps and cosmetic products. Also, attributed to various health benefits, demand for cocoa powder is expected to remain high for production of scrubs, ointments, creams, facial masks, face toner and lotions
North America Accounts for Larger Market Revenue Share in Global Chocolate Market
North America accounted for larger revenue share in global chocolate market with considerable CAGR. The growth in this region is due to rise in demand for premium chocolates, increase in manufacturing setups together with robust supply chain of products and increase in per capita income of the people. USA is the major contributor for the growth of the market in the region. Asia pacific held substantial market share during estimated period owing to increase in the disposable income of the population in developing countries, such as India and China. Europe held steady growth during predicted period as there is a growing influence of online retailing and a rising popularity towards premiumization.
Key player’s profiles in the global chocolate market include:
- Nestle SA
- Fererro Group
- Hershey Foods Corporation
- Mondelez International (Cadbury)
- Mars IncMeiji Co Ltd
- Kraft Foods
- Moonstruck Chocolatier Co.
- Ghirardelli Chocolate Co.
Global chocolate market is surging owing to frequent acquisitions and launchings by the market players. For Instance, in May 2019, Hershey’s launched Limited-Edition Chocolate Bar Featuring Emojis. The new Hershey’s Milk Chocolate Emoji Bars will feature 25 of the most popular emojis across six different emoji packaging designs all designed to collect, share and eat.
Key Findings of the Report:
- Global chocolate market expanding at significant CAGR over 2019 to 2025 due to due to wide spread availability of chocolate products
- Based on type, dark chocolate segment accounted for larger market revenue share in 2018 and projected gain market revenue share over the forecast period
- Players focusing on innovation of newer products and collaboration strategies to retain market position in global chocolate market
- Dark Chocolate
- Milk and White Chocolate
- Molded Chocolates
- Other Product Types
By Distribution Channel
- Supermarkets/ Hypermarkets
- Specialist Retailers
- Convenience Stores
- Online Channel
- Other Distribution Channels
- Rest of Europe
- Australia & New Zealand
- ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others)
- South Korea
- Rest of Asia-Pacific
- Rest of Latin America
Middle East and Africa (MEA)
- Gulf Cooperation Council (GCC) Countries
- South Africa
- Rest of MEA
Key Features of the Report:
- The report provides granular level information about the market size, regional market share, historic market (2015 – 2019) and Forecast (2020 – 2026)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market
- The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
- The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market