Global Wine Chocolate Market By Wine Type (Red Wine, White Wine, and Others), By Distribution Channel (Specialty Stores, Supermarkets/Hypermarkets, Convenience Stores, and Online Stores), By Form (Liquid and Solid), By Regional Outlook, Industry Analysis Report and Forecast, 2021 - 2027
The Global Wine Chocolate Market size is expected to reach $1.1 billion by 2027, rising at a market growth of 6.5% CAGR during the forecast period.
The wine chocolate is a delicious blend of chocolate and wine. These are mainly available in drinkable liquid & chewable bars and cubes. The chocolates and wine are considered equally healthy because both consist of fruits which are added with other natural ingredients to form a new substance. A combination of red wine and dark chocolate is one of the popular combinations. Various recipes are available to produce wine-infused chocolate which serve as a dessert as well as a wine.
Rising awareness among consumers regarding the health benefits of wine chocolate is resulting in the high popularity of wine chocolate. Wine chocolates serve various benefits such as improving blood circulation, helping in losing weight, maintaining heart health, reducing bad cholesterol, and lowering blood pressure.
Also, the perfect and delicious combination of wine & chocolates attract the consumers, especially, those who consume wine. These chocolates are gaining immense popularity among the young generation as the wine chocolates are gifted at the occasions such as candlelight dinners & Valentine’s Day.
Mixing up wine with chocolate is no doubt a nice idea as both of them are sweet and have fruity notes. But pairing them both needs a perfect mixture; otherwise, it may ruin the taste. Generally, chocolates are paired with sweeter wines to get wine chocolate. White chocolates are to be paired with light wines, because of the cream & butter flavor in these chocolates. Thus, if mixed with heavy wines, the taste will dominate the subtle chocolate taste.
Additionally, sweet wide and mild reds are perfect to pair with milk chocolates. Sparkling wines, especially with fruity flavors are the perfect combination for milk chocolates. Moreover, dark chocolates contain polyphenols which make them taste bitter. These chocolates are perfectly paired with bolder taste.
COVID-19 Impact Analysis
The outbreak of the COVID-19 pandemic has impacted almost all the sectors in one or another manner. The food and beverage industry witnessed a major negative impact of the pandemic. The wine chocolate market has recorded an unexpected decline in demand during the pandemic. This is due to the various restrictions imposed over the import & export of the products and the lockdown imposed in some of the countries in order to curb the spread of novel coronavirus which resulted in disruption of supply chains and reduced production capacity of enterprises due to lesser availability of workforce and raw material.
Additionally, many of the organizations had to stop their operations due to the lesser demand in the market. Also, the unemployment and lesser incomes of the consumers due to the pandemic situation resulted in less consumption of the wine chocolates and thus hampered the wine chocolate market.
Market Growth Factors:
Development of Product Portfolio by Major Companies
In the modern era, the consumers have become more concerned about the quality of products instead of quantity. Thus, the improvement in the existing wine chocolate options and unveiling the new and better products which are produced as per the demand of the consumers would help the market players to expand their product offerings. Moreover, seeing the shifting consumer trends towards these chocolates, manufacturing companies aims to launch new and attractive wine chocolate products.
Rising health Awareness
The rising health concern of consumers is resulting in changing diet preferences and the adoption of healthier food & beverages. Consumers are now shifting toward the consumption of less cholesterol saturated fat content and fibre-rich diet. Consumers with various health issues are adopting the consumption of wine chocolates. The health benefits that the combination of wine and chocolate serves along with its unique taste are attracting consumers.
Market Restraining Factors:
Excessive consumption may harm
Wine contains ethanol or alcohol due to which excess consumption of wine chocolates is not considered good. Irrespective of the various health benefits that the wine and wine chocolates serve, excessive consumption may also result in various health issues. The side effects of wine chocolates include confusion, flushing as well as continued mood swings in a few people. Consumption of wine chocolates in large amounts on regular basis can lead to serious diseases such as liver problems, various types of cancers, pancreas problems, mental problems, and heart problems.
Wine Type Outlook
By wine type, the wine chocolate market is segmented into white wine and red wine. The white wine segment acquired a significant revenue share of the overall Wine Chocolate market in 2020. The main factor responsible for boosting the demand for white wine chocolates is the lesser quantity of congeners present in it in comparison to the red wine. Thus, consuming this wine is associated with low chances of a hangover. Hence, these factors would further propel the growth of the segment during the forecasting period.
Distribution Channel Outlook
Based on distribution channel, the wine chocolate market is classified into supermarkets/hypermarkets, convenience stores, specialty stores and online stores. The online stores segment showcased promising revenue share in the overall wine chocolate market in 2020. This is because online channels offer high convenience to the consumers including delivering the product at their doorstep, attractive discounts, and presence of many products at the online portal.
On the basis of form, the wine chocolate market is fragmented into solid and liquid. The solid wine chocolate segment accounted for a significant revenue share in the wine chocolate market in 2020. The growing demand for solid wine chocolates is because of the availability of these chocolates in different shapes & textures. Moreover, this form of wine chocolates is preferred more for gifting purposes.
Region wise, the wine chocolate market is analysed in North America, Europe, Asia Pacific, and LAMEA. In 2020, the Europe region acquired the maximum revenue share in the market and thus dominated the wine chocolate market. The dominance is the result of the consumption of healthy chocolates and other confectionery items due to rising health awareness among consumers in the countries like Germany & the United Kingdom.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Raaka Chocolate Ltd., Ferrero International S.A., Lindt & Sprungli AG, Yildiz Holding A.S., NEUHAUS, Alfred Ritter GmbH & Co. KG, Duc d'O (Baronie), Halloren Chocolate Factory AG (Charlie Investors S.a.r.l.), and Toms Group A/S.
Strategy deployed in Wine Chocolate Market
Apr-2018: Ferrero took over US confectionery business along with 20 of its brands such as Butterfinger, BabyRuth, Crunch, and SweeTarts of Nestlé’s, the world's largest food and beverage company.
Scope of the Study
Market Segments covered in the Report:
By Wine Type
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