Chocolate Market: Global Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis (2016-2021) and Forecast (2022-2028)

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Chocolate Market: Type (Milk/White Chocolate and Dark Chocolate), Distribution Channel (Supermarkets/ Hypermarkets, Specialist Retailers, Convenience Stores, Vending Machines, Online Channel, Variety Stores, and Others), and Geography

 

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Report

Description

Chocolate market size is estimated to be valued at USD 108.4 Billion in 2021 and is poised to grow at a significant CAGR of 6.9% over 2022-2028. Chocolate is a food product made from roasted and ground cacao pods, that is available as a liquid, solid or paste, on its own or as a flavoring agent in others. Dark chocolate is expected to have a considerable market share in the chocolate business based on product type. This increase can be due to a growing understanding of the health benefits of dark chocolates, such as a lower risk of cardiovascular disease, lower cholesterol, and lower blood pressure, and others. Dark chocolate also contains a lot of cocoa, which is good for preventing aging and disorders like cardiovascular disease. Furthermore, studies show that eating chocolate might help to relax. Moreover, players are focusing on product launches to maintain the growth in the market. For instance, In January 2022, Hershey launched its KIT KAT, with two different flavor, which were “Duos Strawberry” and ‘ Duos Dark Chocolate”. Rapid growth in population, change in lifestyle, development of newer products by the market players, increase in awareness about the health benefits with dark chocolates, and wide distribution network and e-commerce channels are anticipated to propel the growth of chocolate market over the forecast years.

Recent Market Developments:

In September 2021, Ferrero pre-launched the new Ferrero Rocher Tablets into the travel-retail channel in partnership with Lagardère. The new product introduces Ferrero into the chocolate tablet category, available in three flavors: milk, dark 55% cocoa, and white.

In January 2021, Mars expanded its vegan range with two brand new chocolate bars just in time for Veganuary. After launching its first free-from chocolate with Galaxy Vegan in 2019, it has released a vegan version of two of its most iconic chocolate bars, Bounty and Topic.

In Feb 2021, The Grupo Arcor, Argentina’s largest food firm, has inked a joint venture agreement with Ingredion Incorporated, a major worldwide ingredient solutions provider to the food and beverage sector. To enhance food and beverage ingredient offers to customers in Argentina, Chile, and Uruguay, the two firms will combine their manufacturing experience, complementing geographic footprints, and commercial capabilities. Arcor and Ingredion will own 51% and 49% of the company, respectively. The overall turnover of the joint venture will be more than US$ 300 million.

Chocolate Market

MARKET SUMMARY
-
6.9% CAGR
  • Study Period– 2022 – 2028
  • Base Year– 2021
  • CAGR– 6.9%
  • Largest Market– North America
  • Fastest Growing- Asia Pacific

Chocolate Market Analysis

  • Chocolate market report gives a comprehensive outlook 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 gives historical, current, and future market sizes (US$ Mn) on the basis of type, product, distribution channel and region.
  • Key stakeholders of the global chocolate market report include suppliers, manufacturers, marketers, policy makers, and healthcare service providers engaged in global chocolate products.
Market Leaders
  • Nestle SA
  • Fererro Group
  • Hershey Foods Corporation
  • Mondelez International (Cadbury)
  • Mars IncMeiji Co Ltd
  • Kraft Foods
Chocolate Market

Dynamics

The growing use of chocolate in the medical industry due to rise in awareness of dark chocolate as a healthy confectionery product containing antioxidants that protect the skin from damaging UV radiation is likely to drive market development is a key factor surge the growth of market. Moreover, chocolates have been identified as one of the best stress relievers and anti-aging confectionery goods, which is expected to increase demand for chocolate-based products. Furthermore, consumers’ preferences for novelty products such as milk-flavored chocolate and confectionary are likely to expand as their acceptance of such products grows. In addition, the market is being driven by the increasing affordability of such confectionary chocolate, which is expected to generate attractive development prospects.


North America dominates the market

Chocolate Market

The chocolate market in North America is likely to hold a highest revenue share in 2021 and the market is predicted to increase at a rapid growth rate owing to development in production settings and the solid supply chain of products across USA and Canada In addition, rising per capital income in emerging nations such as China and India has driven the demand for chocolates. Consumer preferences are projected to drive development across Latin America and the Middle East and Africa regions.

Latin America
Latin-America
North-America
North-America
Europe
Europe
Asia Pacific
Asia-Pacific
Middle East
Middle East

Key

Features of the Report

  • The report provides granular level information about the market size, regional market share, historic market (2016-2021), and forecast (2022-2028)
  • The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and 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 the socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analys
Chocolate Market Segmentation


Location

GEOGRAPHY

Frequently Asked Questions

The CAGR of the chocolate market is 6.9% over the forecast period (2022 – 2028)

 

 

Nestle SA, Fererro Group, Hershey Foods Corporation, Mars IncMeiji Co Ltd, Kraft Foods

 

 

The Asia Pacific is the fastest-growing region for the chocolate market


Report

Table Of Content

Table of Content

  1. Executive Summary
  2. Global Chocolate Market Introduction
    • Global Chocolate Market – Taxonomy
    • Global Chocolate Market –Definitions
      • Type
      • Product
      • Distribution Channel
  1. Global Chocolate Market Dynamics
    • Drivers
    • Restraints
    • Opportunities/Unmet Needs of the Market
    • Trends
    • Global Chocolate Market Dynamic Factors – Impact Analysis
    • Global Chocolate Market – Competition Landscape
  2. Global Chocolate Market Analysis, 2015 – 2019 and Forecast, 2020 – 2026
    • Market Analysis, 2015 – 2019 and Forecast, 2020 – 2026 (Revenue, USD Mn)
    • Year-over-Year (Y-o-Y) Growth Analysis (%)
    • Market Opportunity Analysis
  3. Global Chocolate Market, By Type, 2015 – 2019 and Forecast, 2020 – 2026 (Revenue, USD Mn)
    • Dark Chocolate
      • Market Analysis, 2015 – 2019 and Forecast, 2020 – 2026 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Milk and White Chocolate
      • Market Analysis, 2015 – 2019 and Forecast, 2020 – 2026 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
  1. Global Chocolate Market Forecast, By Product, 2015 – 2019 and Forecast, 2020 – 2026 (Revenue, USD Mn)
    • Softlines/Selflines
      • Market Analysis, 2015 – 2019 and Forecast, 2020 – 2026 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Countlines
      • Market Analysis, 2015 – 2019 and Forecast, 2020 – 2026 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Molded Chocolates
      • Market Analysis, 2015 – 2019 and Forecast, 2020 – 2026 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Other Product Types
      • Market Analysis, 2015 – 2019 and Forecast, 2020 – 2026 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
  1. Global Chocolate Market Forecast, By Distribution Channel, 2015 – 2019 and Forecast, 2020 – 2026 (Revenue, USD Mn)
    • Supermarkets/ Hypermarkets
      • Market Analysis, 2015 – 2019 and Forecast, 2020 – 2026 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Specialist Retailers
      • Market Analysis, 2015 – 2019 and Forecast, 2020 – 2026 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Convenience Stores
      • Market Analysis, 2015 – 2019 and Forecast, 2020 – 2026 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Online Channel
      • Market Analysis, 2015 – 2019 and Forecast, 2020 – 2026 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Other Distribution Channels
      • Market Analysis, 2015 – 2019 and Forecast, 2020 – 2026 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
  1. Global Chocolate Market Forecast, By Region, 2015 – 2019 and Forecast, 2020 – 2026 (Revenue, USD Mn)
    • North America
      • Market Analysis, 2015 – 2019 and Forecast, 2020 – 2026 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Europe
      • Market Analysis, 2015 – 2019 and Forecast, 2020 – 2026 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Asia-Pacific
      • Market Analysis, 2015 – 2019 and Forecast, 2020 – 2026 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Latin America
      • Market Analysis, 2015 – 2019 and Forecast, 2020 – 2026 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Middle East and Africa
      • Market Analysis, 2015 – 2019 and Forecast, 2020 – 2026 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Global Chocolate Market – Opportunity Analysis Index, By Type, Product, Distribution Channel and Region, 2020 – 2026
  2. North America Chocolate Market Analysis, 2015 – 2019 and Forecast, 2020 – 2026 (Revenue, USD Mn)
    • Type Analysis 2015 – 2019 and Forecast 2020 – 2026 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
      • Dark Chocolate
      • Milk and White Chocolate
    • Product Analysis 2015 – 2019 and Forecast 2020 – 2026 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
      • Softlines/Selflines
      • Countlines
      • Molded Chocolates
      • Other Product Types
    • Distribution Channel Analysis 2015 – 2019 and Forecast 2020 – 2026 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
      • Supermarkets/ Hypermarkets
      • Specialist Retailers
      • Convenience Stores
      • Online Channel
      • Other Distribution Channels
    • Country Analysis 2015 – 2019 and Forecast 2020 – 2026 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
      • US
      • Canada
    • North America Chocolate Market – Opportunity Analysis Index, By Type, Product, Distribution Channel and Country, 2020 – 2026
    • North America Chocolate Market Dynamics – Trends
  3. Europe Chocolate Market Analysis, 2015 – 2019 and Forecast, 2020 – 2026 (Revenue, USD Mn)
    • Type Analysis 2015 – 2019 and Forecast 2020 – 2026 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
      • Dark Chocolate
      • Milk and White Chocolate
    • Product Analysis 2015 – 2019 and Forecast 2020 – 2026 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
      • Softlines/Selflines
      • Countlines
      • Molded Chocolates
      • Other Product Types
    • Distribution Channel Analysis 2015 – 2019 and Forecast 2020 – 2026 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
      • Supermarkets/ Hypermarkets
      • Specialist Retailers
      • Convenience Stores
      • Online Channel
      • Other Distribution Channels
    • Country Analysis 2015 – 2019 and Forecast 2020 – 2026 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
      • Germany
      • UK
      • France
      • Spain
      • Italy
      • Russia
      • Poland
      • Rest of Europe
    • Europe Chocolate Market – Opportunity Analysis Index, By Type, Product, Distribution Channel and Country, 2020 – 2026
    • Europe Chocolate Market Dynamics – Trends
  4. Asia-Pacific Chocolate Market Analysis, 2015 – 2019 and Forecast, 2020 – 2026 (Revenue, USD Mn)
    • Type Analysis 2015 – 2019 and Forecast 2020 – 2026 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
      • Dark Chocolate
      • Milk and White Chocolate
    • Product Analysis 2015 – 2019 and Forecast 2020 – 2026 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
      • Softlines/Selflines
      • Countlines
      • Molded Chocolates
      • Other Product Types
    • Distribution Channel Analysis 2015 – 2019 and Forecast 2020 – 2026 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
      • Supermarkets/ Hypermarkets
      • Specialist Retailers
      • Convenience Stores
      • Online Channel
      • Other Distribution Channels
    • Country Analysis 2015 – 2019 and Forecast 2020 – 2026 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
      • Japan
      • China
      • India
      • ASEAN
      • Australia & New Zealand
      • Rest of Asia-Pacific
    • Asia-Pacific Chocolate Market – Opportunity Analysis Index, By Type, Product, Distribution Channel and Country, 2020 – 2026
    • Asia-Pacific Chocolate Market Dynamics – Trends
  5. Latin America Chocolate Market Analysis, 2015 – 2019 and Forecast, 2020 – 2026 (Revenue, USD Mn)
    • Type Analysis 2015 – 2019 and Forecast 2020 – 2026 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
      • Dark Chocolate
      • Milk and White Chocolate
    • Product Analysis 2015 – 2019 and Forecast 2020 – 2026 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
      • Softlines/Selflines
      • Countlines
      • Molded Chocolates
      • Other Product Types
    • Distribution Channel Analysis 2015 – 2019 and Forecast 2020 – 2026 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
      • Supermarkets/ Hypermarkets
      • Specialist Retailers
      • Convenience Stores
      • Online Channel
      • Other Distribution Channels
    • Country Analysis 2015 – 2019 and Forecast 2020 – 2026 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
      • Brazil
      • Mexico
      • Argentina
      • Rest of Latin America
    • Latin America Chocolate Market – Opportunity Analysis Index, By Type, Product, Distribution Channel and Country, 2020 – 2026
    • Latin America Chocolate Market Dynamics – Trends
  6. Middle East and Africa Chocolate Market Analysis, 2015 – 2019 and Forecast, 2020 – 2026 (Revenue, USD Mn)
    • Type Analysis 2015 – 2019 and Forecast 2020 – 2026 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
      • Dark Chocolate
      • Milk and White Chocolate
    • Product Analysis 2015 – 2019 and Forecast 2020 – 2026 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
      • Softlines/Selflines
      • Countlines
      • Molded Chocolates
      • Other Product Types
    • Distribution Channel Analysis 2015 – 2019 and Forecast 2020 – 2026 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
      • Supermarkets/ Hypermarkets
      • Specialist Retailers
      • Convenience Stores
      • Online Channel
      • Other Distribution Channels
    • Country Analysis 2015 – 2019 and Forecast 2020 – 2026 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
      • Gulf Cooperation Council (GCC) Countries
      • Israel
      • South Africa
      • Rest of MEA
    • MEA Chocolate Market – Opportunity Analysis Index, By Type, Product, Distribution Channel and Country, 2020 – 2026
    • MEA Chocolate Market Dynamics – Trends
  7. Competition Landscape
    • Strategic Dashboard of Top Market Players
    • Company Profiles (Introduction, Financial Analysis, Type & Service Offerings, Key Developments, Strategies, and SWOT Analysis)
      • Nestle SA
      • FererronGroup
      • Hershey Foods Corporation
      • Mondelez International (Cadbury)
      • Mars IncMeiji Co Ltd
      • Kraft Foods
      • Moonstruck Chocolatier Co.
      • Ghirardelli Chocolate Co.
  1. Research Methodology
  2. Key Assumptions and Acronyms

Report

Company Profile

  • Mars Incorporated
  • Ferrero International SA
  • Mondalez International
  • The Hershey Company
  • Nestle SA
  • Yıldız Holding
  • Chocoladenfabriken Lindt & Sprungli AG
  • Grupo Arcor
  • Meiji Holdings Co. Ltd
  • Lake Champlain Chocolates

Description

Chocolate market size is estimated to be valued at USD 108.4 Billion in 2021 and is poised to grow at a significant CAGR of 6.9% over 2022-2028. Chocolate is a food product made from roasted and ground cacao pods, that is available as a liquid, solid or paste, on its own or as a flavoring agent in others. Dark chocolate is expected to have a considerable market share in the chocolate business based on product type. This increase can be due to a growing understanding of the health benefits of dark chocolates, such as a lower risk of cardiovascular disease, lower cholesterol, and lower blood pressure, and others. Dark chocolate also contains a lot of cocoa, which is good for preventing aging and disorders like cardiovascular disease. Furthermore, studies show that eating chocolate might help to relax. Moreover, players are focusing on product launches to maintain the growth in the market. For instance, In January 2022, Hershey launched its KIT KAT, with two different flavor, which were “Duos Strawberry” and ‘ Duos Dark Chocolate”. Rapid growth in population, change in lifestyle, development of newer products by the market players, increase in awareness about the health benefits with dark chocolates, and wide distribution network and e-commerce channels are anticipated to propel the growth of chocolate market over the forecast years.

Recent Market Developments:

In September 2021, Ferrero pre-launched the new Ferrero Rocher Tablets into the travel-retail channel in partnership with Lagardère. The new product introduces Ferrero into the chocolate tablet category, available in three flavors: milk, dark 55% cocoa, and white.

In January 2021, Mars expanded its vegan range with two brand new chocolate bars just in time for Veganuary. After launching its first free-from chocolate with Galaxy Vegan in 2019, it has released a vegan version of two of its most iconic chocolate bars, Bounty and Topic.

In Feb 2021, The Grupo Arcor, Argentina’s largest food firm, has inked a joint venture agreement with Ingredion Incorporated, a major worldwide ingredient solutions provider to the food and beverage sector. To enhance food and beverage ingredient offers to customers in Argentina, Chile, and Uruguay, the two firms will combine their manufacturing experience, complementing geographic footprints, and commercial capabilities. Arcor and Ingredion will own 51% and 49% of the company, respectively. The overall turnover of the joint venture will be more than US$ 300 million.

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