Chocolate Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
Description
Chocolate Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
Market Overview:
The global chocolate market size reached US$ 156.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 181.8 Billion by 2028, exhibiting a growth rate (CAGR) of 2.4% during 2023-2028.
Chocolate is a sweet, edible product made from roasted and ground cocoa beans. It is rich in carbohydrates, essential minerals, and various alkaloids, such as phenethylamine, theobromine, flavonoids, and caffeine, which help lowers the risk of cardiovascular and Parkinson’s diseases. Its moderate consumption promotes serotonin that exhibits anti-depressant properties. Besides this, it improves blood flow, helps protect cells from inflammation, boosts energy levels, and improves the immune system. Presently, chocolate is available in various shapes and forms and used in preparing confectionaries, beverages, and bakery products.
At present, the rising popularity of chocolate-based food items and confectionaries is catalyzing the demand for chocolate across the globe. In addition, the increasing prevalence of cardiovascular diseases due to unhealthy dietary patterns, along with rising awareness among individuals about the health benefits of consuming chocolates in moderation, represents one of the key factors positively influencing the market. This, coupled with the expansion of hotels, restaurants, coffee centers, and bakeries and the emerging trend of food vlogging, is contributing to the market growth. Apart from this, the increasing consumer reliance on online shopping, coupled with the burgeoning e-commerce industry, is offering a favorable market outlook. Furthermore, shifting consumer preference towards molded chocolates that are infused with numerous additional flavors and nuts, raisins, almonds, and other dry fruits is offering lucrative growth opportunities to manufacturers. Moreover, key market players are focusing on introducing chocolate variants made without additives, preservatives, and refined sugar, which is expected to expand their consumer base and propel the market growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global chocolate market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on product type, product form, application, pricing and distribution.
Breakup by Product Type:
White Chocolate
Milk Chocolate
Dark Chocolate
Others
Milk chocolate represents the most popular product type as it is extensively used in the formulation of beverages and confectionery products, such as cakes, milkshakes, and croissants.
Breakup by Product Form:
Molded
Countlines
Others
At present, countlines account for the majority of the total market share.
Breakup by Application:
Food Products
Bakery Products
Sugar Confectionery
Desserts
Others
Beverages
Others
Chocolates presently find extensive application in the production of different food products, such as shakes, cakes and hot chocolates.
Breakup by Pricing:
Everyday Chocolate
Premium Chocolate
Seasonal Chocolate
Everyday chocolate holds the largest market segment due to its easy availability across online and offline channels at affordable rates.
Breakup by Distribution:
Direct Sales (B2B)
Supermarkets and Hypermarkets
Convenience Stores
Online Stores
Others
Chocolates are widely available in supermarkets and hypermarkets as they are easily accessible and provide a wide range of products.
Breakup by Region:
North America
United States
Canada
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
North America exhibits a clear dominance in the market as it is a major supplier of cocoa beans. Moreover, the impulse purchase of chocolate is strengthening the market in the region.
Competitive Landscape:
The report has also analysed the competitive landscape of the market with some of the key players being Arcor, Barry Callebaut, Chocoladefabriken Lindt & Sprüngli AG, Chocolaterie Guylian, Ferrero International, Mars Incorporated, Meiji Co. Ltd., Mondelez International Inc. (Kraft Foods), Moonstruck Chocolate Company, Nestlé S.A., The Hershey Company, etc.
Key Questions Answered in This Report:
What was the size of the global chocolate market in 2022?
What is the expected growth rate of the global chocolate market during 2023-2028?
What are the key factors driving the global chocolate market?
What has been the impact of COVID-19 on the global chocolate market?
What is the breakup of the global chocolate market based on the product type?
What is the breakup of the global chocolate market based on the product form?
What is the breakup of the global chocolate market based on the application?
What is the breakup of the global chocolate market based on the pricing?
What is the breakup of the global chocolate market based on the distribution?
What are the key regions in the global chocolate market?
Who are the key players/companies in the global chocolate market?
Market Overview:
The global chocolate market size reached US$ 156.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 181.8 Billion by 2028, exhibiting a growth rate (CAGR) of 2.4% during 2023-2028.
Chocolate is a sweet, edible product made from roasted and ground cocoa beans. It is rich in carbohydrates, essential minerals, and various alkaloids, such as phenethylamine, theobromine, flavonoids, and caffeine, which help lowers the risk of cardiovascular and Parkinson’s diseases. Its moderate consumption promotes serotonin that exhibits anti-depressant properties. Besides this, it improves blood flow, helps protect cells from inflammation, boosts energy levels, and improves the immune system. Presently, chocolate is available in various shapes and forms and used in preparing confectionaries, beverages, and bakery products.
At present, the rising popularity of chocolate-based food items and confectionaries is catalyzing the demand for chocolate across the globe. In addition, the increasing prevalence of cardiovascular diseases due to unhealthy dietary patterns, along with rising awareness among individuals about the health benefits of consuming chocolates in moderation, represents one of the key factors positively influencing the market. This, coupled with the expansion of hotels, restaurants, coffee centers, and bakeries and the emerging trend of food vlogging, is contributing to the market growth. Apart from this, the increasing consumer reliance on online shopping, coupled with the burgeoning e-commerce industry, is offering a favorable market outlook. Furthermore, shifting consumer preference towards molded chocolates that are infused with numerous additional flavors and nuts, raisins, almonds, and other dry fruits is offering lucrative growth opportunities to manufacturers. Moreover, key market players are focusing on introducing chocolate variants made without additives, preservatives, and refined sugar, which is expected to expand their consumer base and propel the market growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global chocolate market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on product type, product form, application, pricing and distribution.
Breakup by Product Type:
White Chocolate
Milk Chocolate
Dark Chocolate
Others
Milk chocolate represents the most popular product type as it is extensively used in the formulation of beverages and confectionery products, such as cakes, milkshakes, and croissants.
Breakup by Product Form:
Molded
Countlines
Others
At present, countlines account for the majority of the total market share.
Breakup by Application:
Food Products
Bakery Products
Sugar Confectionery
Desserts
Others
Beverages
Others
Chocolates presently find extensive application in the production of different food products, such as shakes, cakes and hot chocolates.
Breakup by Pricing:
Everyday Chocolate
Premium Chocolate
Seasonal Chocolate
Everyday chocolate holds the largest market segment due to its easy availability across online and offline channels at affordable rates.
Breakup by Distribution:
Direct Sales (B2B)
Supermarkets and Hypermarkets
Convenience Stores
Online Stores
Others
Chocolates are widely available in supermarkets and hypermarkets as they are easily accessible and provide a wide range of products.
Breakup by Region:
North America
United States
Canada
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
North America exhibits a clear dominance in the market as it is a major supplier of cocoa beans. Moreover, the impulse purchase of chocolate is strengthening the market in the region.
Competitive Landscape:
The report has also analysed the competitive landscape of the market with some of the key players being Arcor, Barry Callebaut, Chocoladefabriken Lindt & Sprüngli AG, Chocolaterie Guylian, Ferrero International, Mars Incorporated, Meiji Co. Ltd., Mondelez International Inc. (Kraft Foods), Moonstruck Chocolate Company, Nestlé S.A., The Hershey Company, etc.
Key Questions Answered in This Report:
What was the size of the global chocolate market in 2022?
What is the expected growth rate of the global chocolate market during 2023-2028?
What are the key factors driving the global chocolate market?
What has been the impact of COVID-19 on the global chocolate market?
What is the breakup of the global chocolate market based on the product type?
What is the breakup of the global chocolate market based on the product form?
What is the breakup of the global chocolate market based on the application?
What is the breakup of the global chocolate market based on the pricing?
What is the breakup of the global chocolate market based on the distribution?
What are the key regions in the global chocolate market?
Who are the key players/companies in the global chocolate market?
Table of Contents
145 Pages
- 1 Preface
- 2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
- 3 Executive Summary
- 4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
- 5 Global Chocolate Market
- 5.1 Market Overview
- 5.2 Market Performance
- 5.3 Impact of COVID-19
- 5.4 Market Forecast
- 6 Market Breakup by Product Type
- 6.1 White Chocolate
- 6.1.1 Market Trends
- 6.1.2 Market Forecast
- 6.2 Milk Chocolate
- 6.2.1 Market Trends
- 6.2.2 Market Forecast
- 6.3 Dark Chocolate
- 6.3.1 Market Trends
- 6.3.2 Market Forecast
- 6.4 Others
- 6.4.1 Market Trends
- 6.4.2 Market Forecast
- 7 Market Breakup by Product Form
- 7.1 Molded
- 7.1.1 Market Trends
- 7.1.2 Market Forecast
- 7.2 Countlines
- 7.2.1 Market Trends
- 7.2.2 Market Forecast
- 7.3 Others
- 7.3.1 Market Trends
- 7.3.2 Market Forecast
- 8 Market Breakup by Application
- 8.1 Food Products
- 8.1.1 Market Trends
- 8.1.2 Major Types
- 8.1.2.1 Bakery Products
- 8.1.2.2 Sugar Confectionery
- 8.1.2.3 Desserts
- 8.1.2.4 Others
- 8.1.3 Market Forecast
- 8.2 Beverages
- 8.2.1 Market Trends
- 8.2.2 Market Forecast
- 8.3 Others
- 8.3.1 Market Trends
- 8.3.2 Market Forecast
- 9 Market Breakup by Pricing
- 9.1 Everyday Chocolate
- 9.1.1 Market Trends
- 9.1.2 Market Forecast
- 9.2 Premium Chocolate
- 9.2.1 Market Trends
- 9.2.2 Market Forecast
- 9.3 Seasonal Chocolate
- 9.3.1 Market Trends
- 9.3.2 Market Forecast
- 10 Market Breakup by Distribution
- 10.1 Direct Sales (B2B)
- 10.1.1 Market Trends
- 10.1.2 Market Forecast
- 10.2 Supermarkets and Hypermarkets
- 10.2.1 Market Trends
- 10.2.2 Market Forecast
- 10.3 Convenience Stores
- 10.3.1 Market Trends
- 10.3.2 Market Forecast
- 10.4 Online Stores
- 10.4.1 Market Trends
- 10.4.2 Market Forecast
- 10.5 Others
- 10.5.1 Market Trends
- 10.5.2 Market Forecast
- 11 Market Breakup by Region
- 11.1 North America
- 11.1.1 United States
- 11.1.1.1 Market Trends
- 11.1.1.2 Market Forecast
- 11.1.2 Canada
- 11.1.2.1 Market Trends
- 11.1.2.2 Market Forecast
- 11.2 Asia Pacific
- 11.2.1 China
- 11.2.1.1 Market Trends
- 11.2.1.2 Market Forecast
- 11.2.2 Japan
- 11.2.2.1 Market Trends
- 11.2.2.2 Market Forecast
- 11.2.3 India
- 11.2.3.1 Market Trends
- 11.2.3.2 Market Forecast
- 11.2.4 South Korea
- 11.2.4.1 Market Trends
- 11.2.4.2 Market Forecast
- 11.2.5 Australia
- 11.2.5.1 Market Trends
- 11.2.5.2 Market Forecast
- 11.2.6 Indonesia
- 11.2.6.1 Market Trends
- 11.2.6.2 Market Forecast
- 11.2.7 Others
- 11.2.7.1 Market Trends
- 11.2.7.2 Market Forecast
- 11.3 Europe
- 11.3.1 Germany
- 11.3.1.1 Market Trends
- 11.3.1.2 Market Forecast
- 11.3.2 France
- 11.3.2.1 Market Trends
- 11.3.2.2 Market Forecast
- 11.3.3 United Kingdom
- 11.3.3.1 Market Trends
- 11.3.3.2 Market Forecast
- 11.3.4 Italy
- 11.3.4.1 Market Trends
- 11.3.4.2 Market Forecast
- 11.3.5 Spain
- 11.3.5.1 Market Trends
- 11.3.5.2 Market Forecast
- 11.3.6 Russia
- 11.3.6.1 Market Trends
- 11.3.6.2 Market Forecast
- 11.3.7 Others
- 11.3.7.1 Market Trends
- 11.3.7.2 Market Forecast
- 11.4 Latin America
- 11.4.1 Brazil
- 11.4.1.1 Market Trends
- 11.4.1.2 Market Forecast
- 11.4.2 Mexico
- 11.4.2.1 Market Trends
- 11.4.2.2 Market Forecast
- 11.4.3 Others
- 11.4.3.1 Market Trends
- 11.4.3.2 Market Forecast
- 11.5 Middle East and Africa
- 11.5.1 Market Trends
- 11.5.2 Market Breakup by Country
- 11.5.3 Market Forecast
- 12 SWOT Analysis
- 12.1 Overview
- 12.2 Strengths
- 12.3 Weaknesses
- 12.4 Opportunities
- 12.5 Threats
- 13 Value Chain Analysis
- 14 Porters Five Forces Analysis
- 14.1 Overview
- 14.2 Bargaining Power of Buyers
- 14.3 Bargaining Power of Suppliers
- 14.4 Degree of Competition
- 14.5 Threat of New Entrants
- 14.6 Threat of Substitutes
- 15 Price Indicators
- 16 Competitive Landscape
- 16.1 Market Structure
- 16.2 Key Players
- 16.3 Profiles of Key Players
- 16.3.1 Arcor
- 16.3.1.1 Company Overview
- 16.3.1.2 Product Portfolio
- 16.3.2 Barry Callebaut
- 16.3.2.1 Company Overview
- 16.3.2.2 Product Portfolio
- 16.3.3 Chocoladefabriken Lindt & Sprüngli AG
- 16.3.3.1 Company Overview
- 16.3.3.2 Product Portfolio
- 16.3.3.3 Financials
- 16.3.4 Chocolaterie Guylian
- 16.3.4.1 Company Overview
- 16.3.4.2 Product Portfolio
- 16.3.4.3 Financials
- 16.3.5 Ferrero International
- 16.3.5.1 Company Overview
- 16.3.5.2 Product Portfolio
- 16.3.5.3 Financials
- 16.3.6 Mars Incorporated
- 16.3.6.1 Company Overview
- 16.3.6.2 Product Portfolio
- 16.3.6.3 SWOT Analysis
- 16.3.7 Meiji Co. Ltd.
- 16.3.7.1 Company Overview
- 16.3.7.2 Product Portfolio
- 16.3.7.3 Financials
- 16.3.7.4 SWOT Analysis
- 16.3.8 Mondelez International Inc. (Kraft Foods)
- 16.3.8.1 Company Overview
- 16.3.8.2 Product Portfolio
- 16.3.8.3 Financials
- 16.3.8.4 SWOT Analysis
- 16.3.9 Moonstruck Chocolate Company
- 16.3.9.1 Company Overview
- 16.3.9.2 Product Portfolio
- 16.3.10 Nestlé S.A.
- 16.3.10.1 Company Overview
- 16.3.10.2 Product Portfolio
- 16.3.10.3 Financials
- 16.3.10.4 SWOT Analysis
- 16.3.11 The Hershey Company
- 16.3.11.1 Company Overview
- 16.3.11.2 Product Portfolio
- 16.3.11.3 Financials
- 16.3.11.4 SWOT Analysis
Pricing
Currency Rates
Questions or Comments?
Our team has the ability to search within reports to verify it suits your needs. We can also help maximize your budget by finding sections of reports you can purchase.
