Chocolate Market in Europe 2015-2019
Chocolate is made from cocoa liquor, cocoa butter, sugar, and lecithin. It is consumed between meals and as a dessert or during any part of the day. Chocolate is an important ingredient in confectionery products, ice creams, and bakery products.
Technavio's analysts forecast the chocolate market in Europe to grow at a CAGR of 4.33% in terms of revenue during 2014-2019.
Covered in this Report
The chocolate market in Europe can be segmented into three categories: milk chocolate, dark chocolate, and white chocolate.
Technavio's report, Chocolate Market in Europe 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. This report provides a brief demographic profile of Europe. The report also includes a discussion of the key vendors operating in this market.
Technavio Announces the Publication of its Research Report – Chocolate Market in Europe 2015-2019
Technavio recognizes the following companies as the key players in the Chocolate Market in Europe: Ferrero Group, Hershey's, Mars, Mondelēz International, Nestlé and Ritter Sport
Other Prominent Vendors in the market are: Alfred Ritter, Archer Daniels Midland, August Storck, Barry Callebaut Group, Blommer Chocolate, Brookside Foods, Cémoi, Chocolate Frey, Fazer Group, Kegg's Candies, Lindt & Sprüngli, Natra, Orkla, Roshen Confectionery, Russell Stover Candies, Tangerine Confectionery, United Confectionary Manufacturers, Warrell and Yildiz Holding
Commenting on the report, an analyst from Technavio’s team said: “Vendors have started making products that are low in sugar content and have added nutritional benefits. These days, many chocolate bars contain added cereal and muesli. Stevia-based chocolate is also becoming popular amongst people with diabetes as it is safe for them to consume. Many weight-conscious, health-conscious, or calorie-conscious people also prefer stevia-based chocolate products. Stevia, or steviol glycoside sweetener, is a popular substitute for sugar because it contains less calories. Vendors are advertising the health benefit claims of their products to boost their sales.”
According to the report, many new varieties, products, and flavors have been introduced by chocolate vendors to cater to the needs of consumers. Stevia-based chocolate products are popular with weight conscious people. Many vendors are offering added health benefits in chocolates to counter the criticism about the lower nutritional content. Chocolate is also offered in a variety of flavors such as lemon and orange, and some contain fruits such as strawberries, raspberries, cherries, and peaches. The introduction of these new products drives market growth.
Further, the report states that the increase in the price of cocoa and sugar has made it difficult for vendors to sell chocolate at a constant price.
Ferrero Group, Hershey's, Mars, Mondelēz International, Nestlé, Ritter Sport, Alfred Ritter, Archer Daniels Midland, August Storck, Barry Callebaut Group, Blommer Chocolate, Brookside Foods, Cémoi, Chocolate Frey, Fazer Group, Kegg's Candies, Lindt & Sprüngli, Natra, Orkla, Roshen Confectionery, Russell Stover Candies, Tangerine Confectionery, United Confectionary Manufacturers, Warrell, Yildiz Holding