Milk Chocolate Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023
Milk chocolate is made by blending sugar, chocolate liquor and cocoa powder. Apart from this, milk powder, and sometimes liquid milk or condensed milk, is also added which offers a creamier taste and texture, and lighter colour. Some of the products made using milk chocolate include food products - cookies, chocolate bars, cakes and crispies; beverages - syrups and smoothies; and cosmetics. The latest report by IMARC Group titled, “Milk Chocolate Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, finds that the global milk chocolate market reached a value of US$ 61.4 Billion in 2017, growing at a CAGR of 4% during 2010-2017.
The major factor which has contributed in influencing the market growth is the health benefits offered by milk chocolate. Studies have found that milk chocolate boosts memory, cuts the risk of heart attacks and strokes, hydrates and smoothens the skin, sharpens memory and improves the immune system. Additionally, flavonoids, a type of antioxidants found in milk chocolate help in stimulating the blood flow by removing ‘free radicals’ from the blood stream which are a primary cause of age-related arthritis. Owing to these factors, the market for milk chocolate is expected to reach a value of US$ 76.4 Billion by 2023, growing at a CAGR of 3.7% during 2018-2023.
The report has analysed the global milk chocolate market on the basis of distribution channels, covering super- and hyper-markets, convenience stores and non-grocery retailers. The report has further segmented the market on the basis of region, covering Western Europe, North America, Eastern Europe, Asia, Latin America, Middle East and Africa and Australasia. Currently, Western Europe represents the largest region for milk chocolate, accounting for the majority of the market share.
This report provides a deep insight into the global milk chocolate industry covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. The report also provides a comprehensive analysis for setting up a milk chocolate manufacturing plant. The study analyses the processing and manufacturing requirements, project cost, project funding, project economics, expected returns on investment, profit margins, etc. This report is a must-read for entrepreneurs, investors, consultants, and all those who have any kind of stake or are planning to foray into the milk chocolate industry in any manner.
Key Questions Answered in This Report:
What are the key success and risk factors in the milk chocolate industry? How has the milk chocolate market performed so far and how will it perform in the coming years? What is the structure of the milk chocolate industry and who are the key players? What are the various unit operations involved in a milk chocolate plant? What is the total size of land required for setting up a milk chocolate plant? What are the machinery requirements for setting up a milk chocolate plant? What are the raw material requirements for setting up a milk chocolate plant? What are the utility requirements for setting up a milk chocolate plant? What are the manpower requirements for setting up a milk chocolate plant? What are the infrastructure costs for setting up a milk chocolate plant? What are the capital costs for setting up a milk chocolate plant? What are the operating costs for setting up a milk chocolate plant? What should be the pricing mechanism of milk chocolate products? What will be the income and expenditures for a milk chocolate plant? What is the time required to break-even?