The global chocolate market has witnessed significant growth over the past few decades. Chocolate has transformed from being considered a luxury product to becoming an everyday snack consumed by people across various income groups and age brackets. Rising health consciousness, changing lifestyles, and increased disposable incomes have significantly driven the demand for chocolates. Innovation in terms of new flavors, functional ingredients, and formats, such as chocolate-based beverages and baked goods, have further augmented the market growth. However, factors such as fluctuations in cocoa bean prices pose a major challenge.
Market Dynamics:
The global chocolate market is driven by several factors such as increasing disposable incomes, rising health awareness, and changing lifestyles. Innovation in terms of new flavors, formats, and inclusion of functional ingredients present significant opportunities. However, fluctuations in cocoa bean prices remain a key restraint. Additionally, the COVID-19 pandemic disrupted supply chains and affected production schedules. However, rising e-commerce and demand from emerging economies are expected to provide various opportunities over the coming years.
Key Features of the Study:
- This report provides in-depth analysis of the global chocolate market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global chocolate market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
- Key companies covered as a part of this study include Mars, Mondelēz International, Blommer Chocolate Company, Scharffen Berger, MARICH CONFECTIONERY, Ghirardelli Chocolate Company, Theo Chocolate, Inc., Animas Chocolate Company, Bar & Cocoa, Whitakers Chocolates Ltd, Dark Forest Chocolate, Astorchocolate, Beacon Hill, PHILLIPSCHOCOLATES, ChocAllure, Chocolate Springs, Boston General Store., Loveland Chocolate Company., Uncover Colorado, and Moksha Chocolate
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
- The global chocolate market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global chocolate market
Detailed Segmentation-
- By Product Type:
-
- Milk Chocolate
- Dark Chocolate
- White Chocolate
- Ruby Chocolate
- Others
- By Distribution Channel
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- Supermarkets/Hypermarkets
- Specialty Stores
- Online Retailers
- Convenience Stores
- Direct Sales
- Others
- By Region:
-
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- Company Profiles:
-
- Mars
- Mondelēz International
- Blommer Chocolate Company
- Scharffen Berger
- MARICH CONFECTIONERY
- Ghirardelli Chocolate Company
- Theo Chocolate, Inc.
- Animas Chocolate Company
- Bar & Cocoa
- Whitakers Chocolates Ltd
- Dark Forest Chocolate
- Astorchocolate
- Beacon Hill
- PHILLIPSCHOCOLATES
- ChocAllure
- Chocolate Springs
- Boston General Store.
- Loveland Chocolate Company.
- Uncover Colorado
- Moksha Chocolate
