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Milk Chocolate Market by Type and Geography - Global Forecast and Analysis 2019-2023

Global Milk Chocolate Market: About this market

Milk chocolate contains chocolate liquor, milk solids, and milk fat. Technavio’s milk chocolate market considers the sales of bar milk chocolate and bite-size milk chocolate. Our milk chocolate market analysis also considers the sales of milk chocolate in APAC, Europe, MEA, North America, and South America. In 2018, the bar milk chocolate segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as premiumization of milk chocolate bars will play a significant role in the bar milk chocolate segment to maintain its market position. Also, our global milk chocolate market looks at factors such as increased spending on milk chocolates by millennials and Gen Z, rising demand for milk chocolates from emerging markets, and rising demand for low-calorie milk chocolate from health-conscious consumers. However, uncertainties in the key raw materials market, rising dairy allergen cases among consumers and the competition from dark chocolate varieties may hamper the growth of the milk chocolate industry over the forecast period.

Global Milk Chocolate Market: Overview

Rising demand for low-calorie milk chocolate from health-conscious consumers

Consumers are increasingly becoming aware of the health risks associated with the consumption of high-calorie food products, including milk chocolates. To capitalize on this growing trend among consumers, milk chocolate manufacturers are offering low-calorie milk chocolates. Several companies are investing in developing such innovative milk chocolate products for diet-conscious consumers. The growing demand for such low-calorie milk chocolates is one of the major factors driving the growth of the global milk chocolate market size at a CAGR of almost 5% during the forecast period.

Rise in flavors in milk chocolates

The growing shift toward flavored milk chocolates among consumers has encouraged milk chocolate manufacturers to include several ingredients such as nuts, fruits, added flavors, and textures. Some vendors in the market are offering new flavors such as ginger lime to expand their product portfolios. The introduction of flavored milk chocolates will have a positive impact on the growth of the global milk chocolate market size.

For the detailed list of factors that will drive the global milk chocolate market size during the forecast period 2019-2023, click here.

Competitive Landscape

With the presence of several players, the global milk chocolate market is fragmented. Technavio’s robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several milk chocolate manufacturers, that include Chocoladefabriken Lindt & Sprüngli AG, Mars Inc., Mondelēz International Inc., Nestlé SA, and The Hershey Co.

Also, the milk chocolate market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.


  • 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 type
    • Table Product - Market share 2018-2023 (%)
    • Comparison by type
      • Table Comparison by type
    • Bar milk chocolate - Market size and forecast 2018-2023
      • Table Bar milk chocolate - Market size and forecast 2018-2023 ($ millions)
      • Table Bar milk chocolate - Year-over-year growth 2019-2023 (%)
    • Bite-size milk chocolate - Market size and forecast 2018- 2023
      • Table Bite-size milk chocolate - Market size and forecast 2018-2023 ($ millions)
      • Table Bite-size milk chocolate - Year-over-year growth 2019-2023 (%)
    • Market opportunity by type
      • Table Market opportunity by type
  • Customer landscape
    • Table Customer landscape
  • Geographic landscape
    • Geographic segmentation
      • Table Market share by geography 2018-2023 (%)
    • Geographic comparison
      • Table Geographic comparison
    • Europe - Market size and forecast 2018-2023
      • Table Europe - Market size and forecast 2018-2023 ($ millions)
      • Table Europe - Year-over-year growth 2019-2023 (%)
    • North America - Market size and forecast 2018-2023
      • Table North America - Market size and forecast 2018-2023 ($ millions)
      • Table North America - 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 (%)
    • South America - Market size and forecast 2018-2023
      • Table South America - Market size and forecast 2018-2023 ($ millions)
      • Table South America - Year-over-year growth 2019-2023 (%)
    • MEA - Market size and forecast 2018-2023
      • Table MEA - Market size and forecast 2018-2023 ($ millions)
      • Table MEA - 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
    • Market challenges
      • Table Impact of drivers and challenges
  • Market Trends
    • Rise in flavors in milk chocolates
    • Introduction of small-scale startups
    • Focus toward temperature tolerant milk chocolates
  • Vendor landscape
    • Overview
      • Table Vendor landscape
    • Landscape disruption
      • Table Landscape disruption
    • Competitive scenario
  • Vendor analysis
    • Vendors covered
      • Table Vendors covered
    • Vendor classification
      • Table Vendor classification
    • Market positioning of vendors
      • Table Market positioning of vendors
    • Chocoladefabriken Lindt & Sprüngli AG
      • Table Chocoladefabriken Lindt & Sprüngli AG - Vendor overview
      • Table Chocoladefabriken Lindt & Sprüngli AG - Product segments
      • Table Chocoladefabriken Lindt & Sprüngli AG - Organizational developments
      • Table Chocoladefabriken Lindt & Sprüngli AG - Segment focus
      • Table Chocoladefabriken Lindt & Sprüngli AG - Key offerings
    • Mars Inc.
      • Table Mars Inc. - Vendor overview
      • Table Mars Inc. - Product segments
      • Table Mars Inc. - Organizational developments
      • Table Mars Inc. - Key offerings
    • Mondelez International Inc.
      • Table Mondelez International Inc. - Vendor overview
      • Table Mondelez International Inc. - Business segments
      • Table Mondelez International Inc. - Organizational developments
      • Table Mondelez International Inc. - Geographic focus
      • Table Mondelez International Inc. - Segment focus
      • Table Mondelez International Inc. - Key offerings
    • Nestlé SA
      • Table Nestlé SA - Vendor overview
      • Table Nestlé SA - Business segments
      • Table Nestlé SA - Organizational developments
      • Table Nestlé SA - Geographic focus
      • Table Nestlé SA - Segment focus
      • Table Nestlé SA - Key offerings
    • The Hershey Co.
      • Table The Hershey Co. - Vendor overview
      • Table The Hershey Co. - Business segments
      • Table The Hershey Co. - Organizational developments
      • Table The Hershey Co. - Segment focus
      • Table The Hershey Co. - Key offerings
  • Appendix
    • Research methodology
      • Table Validation techniques employed for market sizing
    • List of abbreviations
    • Definition of market positioning of vendors
      • Table Definition of market positioning of vendors
  • Explore Technavio

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