According to MarkNtel Advisors who is a leading consulting, data analytics, and market research firm that provides an extensive range of strategic reports on diverse industry verticals. Recently released a report on Chocolate Market - Industry Trends and Forecast to 2030 and provides a comprehensive analysis of the current and future market conditions. The market research insights offered in this report enhance understanding of the market landscape, potential challenges, and strategies to establish a strong brand presence. With detailed market segmentation, in-depth analysis of key players, examination of consumer and supply chain trends, and exploration of new geographic markets, the insights presented in this report simplify the effective marketing of products and services.
Global Chocolate Market Analysis and Size
The Global Chocolate Market size is valued at USD 421 billion 2023 and is estimated to grow at a CAGR of around 4.7% during the forecast period, i.e., 2024-30.
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Some of the major players operating in the Chocolate Market are Ghirardelli Chocolate Co, Ferrero Group, Mars Inc, Hershey Foods Corp, Moonstruck Chocolatier Co, Barry Callebaut, Nestle SA, Amul, Cadbury, and others.
Chocolate Market Growth Driver:
High Inclination Towards Specialty Chocolates to Thrive the Market Growth – In recent years, a notable surge in demand for premium and specialty chocolates, particularly in well-developed markets like the US, France, Belgium, and Germany, has been observed, significantly contributing to the Chocolate Market's growth. One primary driver behind this surge is the increasing consumer preference for transparency in ingredient sourcing for chocolates. This preference stems from various factors, including allergies to specific components like lactose and a rising interest in vegan-friendly options. Additionally, there's a rising demand for chocolates made from specialty cocoa beans, fostering the growth of specialty chocolates.
Another emerging trend boosting demand is the preference for clean-label and organic products, driven by a growing emphasis on overall health and wellness. This trend has notably increased the demand for dark and sugar-free chocolates.
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Market Segment and Geographical Analysis
By Chocolate Type
- Milk Chocolate- Market Size Forecast 2019-2030F, USD Million
- White Chocolate- Market Size Forecast 2019-2030F, USD Million
- Dark Chocolate- Market Size Forecast 2019-2030F, USD Million
By Packaging Type
- Molded Bars- Market Size Forecast 2019-2030F, USD Million
- Chips Bites- Market Size Forecast 2019-2030F, USD Million
- Box Assortments- Market Size Forecast 2019-2030F, USD Million
- Chocolate Truffles- Market Size Forecast 2019-2030F, USD Million
By Application
- Food Beverages Industries- Market Size Forecast 2019-2030F, USD Million
- Bakery- Market Size Forecast 2019-2030F, USD Million
- HoReCa- Market Size Forecast 2019-2030F, USD Million
- Retail Consumption
By Category
- Synthetic Chocolates- Market Size Forecast 2019-2030F, USD Million
- Organic Chocolates- Market Size Forecast 2019-2030F, USD Million
By Sales Channel
- Offline- Market Size Forecast 2019-2030F, USD Million
- Supermarkets Hypermarkets- Market Size Forecast 2019-2030F, USD Million
- Convenience Stores- Market Size Forecast 2019-2030F, USD Million
- Brand Owned Outlets- Market Size Forecast 2019-2030F, USD Million
- Online - Market Size Forecast 2019-2030F, USD Million
By Region
- North America
- South America
- Europe
- The Middle East Africa
- Asia-Pacific
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