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Global Chocolate Market 2019-2023

Global Chocolate Market 2019-2023

About this market

With the aim to increase shelf life and revive customer interest, vendors in the chocolate market are introducing a range of new and creative packaging and branding to attract customer attention. It helps in capturing interest and curiosity of consumers and is often considered an extension of the brand value. Therefore, packaging has become a key aspect of brand marketing, which drives the key vendors to constantly innovate. For example, in September 2017, Mondelēz International partnered with packaging design agency Bulletproof to create a contemporary new brand identity and packaging design for its Premium Chocolate brand GREEN & BLACK’S for its new Pure Dark and Pure Milk chocolate bars. This factor is expected to boost the chocolate market worldwide. Technavio’s analysts have predicted that the chocolate market will register a CAGR of close to 7 % by 2023.

Market Overview

Increasing premiumization of chocolates

Globally, the demand for premium chocolates is growing, especially in emerging economies such as the China, India, and Brazil. Vendors such as Mars, Barry Callebaut, and Mondelez International are increasing efforts to improve premiumization, personalization, and differentiation in their chocolate segments with new premium offerings. Therefore, the increasing demand for premium chocolates will spur the growth of the market.

Volatility in price of raw materials

One of the primary challenges impacting the growth of the chocolate market is the volatility in the price range of major ingredients such as cocoa and sugar. The increase in the prices of raw material forces players to increase the final product price.

For the detailed list of factors that will drive and challenge the growth of the chocolates market during 2019-2023, view our report.

Competitive landscape

The chocolate market appears to be fragmented owing to the presence of a considerable number of companies and the competitive environment of the market is quite intense with all companies striving to improve their market position. Factors such as the increasing premiumization of chocolates and the increasing packaging innovations to spur the growth of the market. Some of the top companies in the chocolate market include Chocoladefabriken Lindt & Sprüngli, Ferrero, Mars, Mondelēz International, Nestlé, and The Hershey Company.

‘With the presence of a considerable number of companies, this market appears to be fragmented. This market research report will help clients identify new growth opportunities. Companies in the chocolate market are focusing on improving the packaging of chocolates in order to increase brand value by capturing consumer attention.’


  • Executive summary
  • Scope of the report
    • Preface
    • Currency conversion rates for US$
  • Market landscape
    • Market ecosystem
      • Table Global packaged food market
      • Table Segments of global packaged food market
    • Market characteristics
      • Table Market characteristics
    • Market segmentation analysis
      • Table Market segments
  • Market sizing
    • Market definition
      • Table Market definition - Inclusions and exclusions checklist
    • Market sizing 2018
      • Table Market size 2018
    • Market size and forecast 2018-2023
      • Table Global market: Size and forecast 2018-2023 ($ millions)
      • Table Global market: Year-over-year growth 2019-2023 (%)
  • Five forces analysis
    • Table Five forces analysis 2018
    • Table Five forces analysis 2023
    • Bargaining power of buyers
      • Table Bargaining power of buyers
    • Bargaining power of suppliers
      • Table Bargaining power of suppliers
    • Threat of new entrants
      • Table Threat of new entrants
    • Threat of substitutes
      • Table Threat of substitutes
    • Threat of rivalry
      • Table Threat of rivalry
    • Market condition
      • Table Market condition - Five forces 2018
  • Market segmentation by product
    • Table Product - Market share 2018-2023 (%)
    • Comparison by product
      • Table Comparison by product
    • Milk chocolate - Market size and forecast 2018-2023
      • Table Milk chocolate - Market size and forecast 2018-2023 ($ millions)
      • Table Milk chocolate - Year-over-year growth 2019-2023 (%)
    • Dark chocolate - Market size and forecast 2018-2023
      • Table Dark chocolate - Market size and forecast 2018-2023 ($ millions)
      • Table Dark chocolate - Year-over-year growth 2019-2023 (%)
    • White chocolate - Market size and forecast 2018-2023
      • Table White chocolate - Market size and forecast 2018-2023 ($ millions)
      • Table White chocolate - Year-over-year growth 2019-2023 (%)
    • Market opportunity by product
      • Table Market opportunity by product
  • Customer landscape
    • Table Customer landscape
  • Geographic landscape
    • Geographic segmentation
      • Table Market share by geography 2018-2023 (%)
    • Geographic comparison
      • Table Geographic comparison
    • EMEA - Market size and forecast 2018-2023
      • Table EMEA - Market size and forecast 2018-2023 ($ millions)
      • Table EMEA - Year-over-year growth 2019-2023 (%)
    • Americas - Market size and forecast 2018-2023
      • Table Americas - Market size and forecast 2018-2023 ($ millions)
      • Table Americas - Year-over-year growth 2019-2023 (%)
    • APAC - Market size and forecast 2018-2023
      • Table APAC - Market size and forecast 2018-2023 ($ millions)
      • Table APAC - Year-over-year growth 2019-2023 (%)
    • Key leading countries
      • Table Key leading countries
    • Market opportunity
      • Table Market opportunity
  • Decision framework
  • Drivers and challenges
    • Market drivers
      • Table Recent product launches
    • Market challenges
      • Table Impact of drivers and challenges
  • Market trends
    • Increasing packaging innovations
    • Growing demand for healthier chocolates
    • Increasing number of M&A
      • Table Key M&A in the global catering market
  • Vendor landscape
    • Overview
      • Table Vendor landscape
    • Landscape disruption
      • Table Landscape disruption
  • Vendor analysis
    • Vendors covered
      • Table Vendors covered
    • Vendor classification
      • Table Vendor classification
    • Market positioning of vendors
      • Table Market positioning of vendors
    • Chocoladefabriken Lindt & Sprüngli
      • Table Chocoladefabriken Lindt & Sprüngli - Vendor overview
      • Table Chocoladefabriken Lindt & Sprüngli - Business segments
      • Table Chocoladefabriken Lindt & Sprüngli - Organizational developments
      • Table Chocoladefabriken Lindt & Sprüngli - Geographic focus
      • Table Chocoladefabriken Lindt & Sprüngli - Key offerings
    • Ferrero
      • Table Ferrero - Vendor overview
      • Table Ferrero - Product segments
      • Table Ferrero - Organizational developments
      • Table Ferrero - Key offerings
    • Mars
      • Table Mars - Vendor overview
      • Table Mars - Product segments
      • Table Mars - Organizational developments
      • Table Mars - Key offerings
    • Mondelez International
      • Table Mondelez International - Vendor overview
      • Table Mondelez International - Business segments
      • Table Mondelez International - Organizational developments
      • Table Mondelez International - Geographic focus
      • Table Mondelez International - Segment focus
      • Table Mondelez International - Key offerings
    • Nestlé
      • Table Nestlé - Vendor overview
      • Table Nestlé - Business segments
      • Table Nestlé - Organizational developments
      • Table Nestlé - Geographic focus
      • Table Nestlé - Segment focus
      • Table Nestlé - Key offerings
    • The Hershey Company
      • Table The Hershey Company - Vendor overview
      • Table The Hershey Company - Business segments
      • Table The Hershey Company - Organizational developments
      • Table The Hershey Company - Geographic focus
      • Table The Hershey Company - Key offerings
  • Appendix
    • Research methodology
    • List of abbreviations
  • Explore Technavio

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