Global White Chocolate Market 2019-2023
About this market
The rising adoption of white chocolate in diverse application sectors will continuously impact the market growth positively. Owing to factors including negligible caffeine content and smoother buttery texture compared to other variants, there has been an increasing awareness about the different applications of white chocolate among the consumers. This will eventually, foster the market growth considerably in the upcoming years. Technavio’s analysts have predicted that the white chocolate market will register a CAGR of nearly 2% by 2023.
Rising adoption of white chocolate in diverse application sectors
One of the growth drivers of the global white chocolate market is the rising adoption of white chocolate in diverse application sectors. The growing demand for white chocolate as an ingredient across applications is expected to drive the adoption of white chocolate globally.
Rising demand for substitute products
One of the challenges in the growth of the global white chocolate market is the rising demand for substitute products. The growth of the global white chocolate market is hindered by the rising demand for and popularity of its substitutes such as milk chocolate, ruby chocolate, and dark chocolate.
For the detailed list of factors that will drive and challenge the growth of the white chocolate market during 2019-2023, view our report.
The market appears to be moderately fragmented with the presence of several market players. Vendors in the global white chocolate market have been frequently launching campaigns and promotional activities to attract consumers. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies.
Technavio Announces the Publication of its Research Report – Global White Chocolate Market 2019-2023
Technavio recognizes the following companies as the key players in the global white chocolate market: Chocoladefabriken Lindt & Sprüngli AG, Mars, Incorporated and its Affiliates, Mondelēz International, Nestlé, and The Hershey Company.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is the increasing popularity of organic, gluten-free, and vegan white chocolates.”
According to the report, one of the major drivers for this market is the rising adoption of white chocolate in diverse application sectors.
Further, the report states that one of the major factors hindering the growth of this market is the health problems associated with consumption of white chocolate.
Chocoladefabriken Lindt & Sprüngli AG
Mars, Incorporated and its Affiliates
The Hershey Company
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