Global Chocolate Market

Global Chocolate Market Size, Share, Growth Analysis, By Type(Dark, Milk), By Distribution Channel(Online, Supermarkets), By Product(Softlines/Selflines, Countlines), By Application(Food, Beverages) - Industry Forecast 2024-2031

Report ID: SQMIG30I2290 | Region: Global | Published Date: February, 2024
Pages: 163 | Tables: 121 | Figures: 77

Global Chocolate Market Dynamics

Chocolate Market Driver

  • Demand for chocolate is rising as now the approach to consuming chocolate has changed. consumers realise the health benefits of consuming chocolates such as mood swings and heart related issues. Adaption of dark chocolates and gourmet chocolates has catered to the growth of this segment. Unique products with the inclusion of natural and organic ingredients have let the consumers come back for more.

Chocolate Market Restraint

  • The production of chocolate is largely challenged by the change in the climate. Usually, the production of chocolate requires hot and humid areas within about 20 degrees of the equator. These are specially developed from the fruit of "Theobroma cocoa tree" these trees are specifically found in Amazon and Orinoco river basins in South America. In order to maintain chocolate production, the main requirement is moderate rainfall and good humidity condition.  This will help in making the land viable for good cocoa production.
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FAQs

Global Chocolate Market size was valued at USD 42.29 billion in 2019 and is poised to grow from USD 46.61 billion in 2023 to USD 67.88 billion by 2031, growing at a CAGR of 4.98% in the forecast period (2024-2031).

The global chocolate market is fairly concentrated, with a few big and medium-sized market participants accounting for a large portion of Chocolate market revenue. Major players are implementing numerous tactics, including mergers and acquisitions, strategic agreements and contracts, and the development and new product lunch with more varieties. 'Mars, Inc.', 'Mondelez International, Inc.', 'Ferrero Group', 'Nestle SA', 'The Hershey Company', 'Lindt & Sprüngli AG', 'Barry Callebaut AG', 'Meiji Co. Ltd.', 'Ezaki Glico Co., Ltd.', 'Lotte Confectionery Co., Ltd.', 'Yildiz Holding Inc.', 'Arcor Group', 'Chocoladefabriken Lindt & Sprüngli (USA) Inc.', 'Blommer Chocolate Company', 'Foley's Candies LP', 'Pladis Global', 'Orion Corp.', 'Nestle Japan Ltd.', 'CasaLuker', 'Petra Foods Limited'

Demand for chocolate is rising as now the approach to consuming chocolate has changed. consumers realise the health benefits of consuming chocolates such as mood swings and heart related issues. Adaption of dark chocolates and gourmet chocolates has catered to the growth of this segment. Unique products with the inclusion of natural and organic ingredients have let the consumers come back for more.

Box chocolates have been viewed as a growing trend in the chocolate market in the last couple of years. Globally, chocolates consumption has still plenty of areas to expand relative to many illustrious regions. The growth of the chocolate market in these regions is heavily reliant on high-end and super high-end segments.

Europe dominated the global chocolate market with a market share of 35%. The increasing popularity of dark chocolate among consumers is a major factor fuelling the Chocolate market growth in the region. In the Europe region, Germany has the highest Chocolate market share in 2020 owing to increasing per capita consumption.

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Global Chocolate Market

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