chocolate confectionery industry

Privacy Policy. The key players such as Olam International, Cargill, Inc., Nestle S.A, and Berry Callebaut AG are focusing on strategic mergers, acquisitions, and partnerships to further consolidate the market. Free report customization (equivalent up to 8 analysts working days) with purchase. Explore purchase options. In July 2021, Barry Callebaut announced the acquisition of Europe Chocolate Company (ECC), a Belgian-based private B2B chocolate specialties manufacturer. North America dominated the market share in 2019. Product Benchmarking10.1.4. The shift in consumers shopping behavior is one of the major factors driving product sales through online channels. Which factors are expected to drive the adoption of these products? The product range would comprise premium ingredients such as saffron, chili, almonds, and rose with Belgian dark. Increasing Association of Chocolate with Festivals & Special Occasions to Drive Growth. To know how our report can help streamline your business, Speak to Analyst, Dark Chocolate Segment to Grow at Significant CAGR Backed by Shifting Consumer Preference towards High-end Chocolates. Company Overview10.9.2.

The emerging trend of clean-label and organic products to maintain overall health & wellness has increased the demand for dark & sugar-free chocolate snacks with higher cocoa content. Strategic InitiativesFor more information about this report visit, Research and MarketsLaura Wood, Senior Manager[emailprotected], For E.S.T Office Hours Call +1-917-300-0470For U.S./CAN Toll Free Call +1-800-526-8630For GMT Office Hours Call +353-1-416-8900, U.S. Fax: 646-607-1907Fax (outside U.S.): +353-1-481-1716, Cision Distribution 888-776-0942 Consumer Distribution Channel Adoption4.5. Premiumization is a budding trend driving the demand for premium and luxury chocolates in developed economies. This report forecasts revenue growth at global, regional & country levels and provides an analysis of the latest trends and opportunities in each of the sub-segments from 2017 to 2030. Supermarkets & hypermarkets distribution channels made the largest contribution to the global market in 2021. Growing at a CAGR of 2.3%, the market will exhibit steady growth in the forecast period (2020-2027). The global chocolate confectionery market size was estimated at USD 178.8 billion in 2021 and is expected to reach USD 186.3 billion in 2022. b. Product launches in this segment by key players in the market are likely to supplement the overall segment growth. Grand View Research is registered in the State of California at Grand View Research, Inc. 201 Spear Street 1100, San Francisco, CA 94105, United States.

Copyright 2022 Grand View Research, Inc. All rights reserved. In developed countries such as Japan and Australia, the industry is currently driven by the knowledge of perceived health benefits of cocoa such as its polyphenol content and its role in healthy aging. Financial Performance10.8.3. Which is the leading segment in the market? For instance, The Hershey Companys (one of the major players in this market) net sales stood at USD 2.037 billion in the first quarter of 2020 which is an increase of 1% compared to the same period a year ago. The trend of home cooking and preparing uncommon dishes, especially bakery items, while all the bakeries and restaurants were shut, was observed across the globe.

Who are the key players in chocolate confectionery market? The rapid escalation in demand for premium or specialty chocolates, especially in developed markets such as the U.S., France, Belgium, and Germany has been observed in recent years and an upward trend is expected in the coming years. The increasing prevalence of lifestyle-related health conditions such as obesity and diabetes associated with excessive sugar consumption is having a significant impact on the chocolate industry. Cocoa is emerging as a healthy ingredient owing to its richness in antioxidants & minerals. Demographic Analysis4.2. Technological Advancements Contribute to the Increasing Demand for Premium Chocolates. In the past few years, the popularity of the product among consumers, especially in Asian countries, has increased with shifting taste preferences and growing awareness about the many health benefits of dark chocolate. Moreover, the growing population, increasing consumer disposable income, and rising awareness about such products are contributing to the regional market growth. The recent outbreak of COVID-19 has increased the penetration of online retailers in the chocolate confectionery segment. The countrys per capita consumption of this confectionery items was at 4.5-4.6 kg, which is higher compared to sugar confectionery products at 3.0-3.1 kg/person in 2018. Dark chocolate is likely to witness the fastest growth during the forecast period as it is considered a healthier option with lower calories as compared to milk and white chocolates. The regional market growth is driven by increased production of artisanal chocolates, constant innovations in terms of flavors, and in-store promotions. Product Benchmarking10.6.4. On the other hand, white chocolate found vast scope for the consumer categories preferring to avoid the bitterness of dark chocolate. The Hershey Company10.1.1. Manufacturers are launching a wide range of chocolate confectionery in the healthier segment, with claims such as vegan, gluten, and dairy-free to cater to the rising customer demand, which is increasing the scope of chocolate confectionery in the global market. Barry Callebaut, a leading player in the chocolate industry, is focused on investing in the development of innovative products to strengthen its position in the market. Emerging Trend of Premiumisation to Drive Global Chocolate Sales. Others5.6.1. mars president reid grant inc chocolate michaels paul names current global candy retire dec plans presidents candyindustry They are popular among consumers owing to their convenient size. Competitive Rivalry3.7. Thus, the increasing number of people suffering from health conditions such as diabetes and cardiovascular diseases is expected to dampen the overall market growth during the forecast period. An Infographic Representation of Chocolate Confectionery Market, To get information on various segments, share your queries with us. Barry Callebaut, Ferrero SpA, & Nestle S.A. are the major players in the market. Several prominent market players such as Barry Callebaut, Chocoladefabriken Lindt & Sprngli AG, Nestl (all based in Switzerland), and Ferrero (Italy) are also present in the European region. Vendor Landscape9.3.1. What are the factors driving the chocolate confectionery market. In July 2020, Luxury Swiss Chocolatier Chocoladefabriken Lindt & Sprngli AG announced the launch of three dairy-free, vegan chocolate bars for Christmas 2020, available in three flavors such as hazelnut, salted caramel, and cookie. Market estimates and forecast through convenience stores, 2017-2030 (USD Billion)7.4. The market in the region is primarily propelled by the growing trend of organic and clean-label chocolate confectioneries. On the other hand, consumers also prefer the private label chocolate products considering the value for the price. Many key companies have been acquiring premium chocolate brands to expand their brand portfolio. Swift Rise in Demand for Chocolate Confectioneries Due to Stockpiling During COVID-19 Lockdown. candy confectionery define confection industry market billion sweets candies novelty does acquires bip toy nca grow years expensive candyindustry feature The growing demand for craft, customized & premium chocolates among millennials is further fueling the chocolate confectioneries market growth. The product range consists of five bars in three flavors such as peanut butter, milk mousse, and creamy caramel. Financial Performance10.5.3. Methodology and ScopeChapter 2. Consumers look for novel chocolate flavors and innovative chocolate formulations, which fuels the segmental growth. Some key players operating in the chocolate confectionery market include The Hershey Company; Ferrero; Chocoladefabriken Lindt & Sprngli AG; Mars, Incorporated; Mondelz International; Nestl; CEMOI Group; Barry Callebaut; Lake Champlain Chocolates; LOTTE. online dashboard trial. The spread of the COVID-19 pandemic and extended period of lockdowns is negatively affecting the chocolate product sales. There is growing popularity of dark chocolate in the region which is attributed to the increasing knowledge regarding the health benefits of cocoa. Financial Performance10.2.3. Company Overview10.6.2. We never share your personal data. The Hershey Company, Ferrero, Chocoladefabriken Lindt & Sprungli AG, Mars, Incorporated, Mondelez International, Nestle, CEMOI Group, Barry Callebaut, Lake Champlain Chocolates, and LOTTE are among the prominent players in the global market.Chocolate Confectionery Market Report Highlights, Key Topics Covered: Chapter 1. Furthermore, demand for high-quality products is getting stronger among the consumers, which is likely to propel market growth. Mondelez International10.5.1. However, there is a swift reduction in the demand for premium chocolates amidst the pandemic wherein premium and specialty chocolate products are used seasonally and are majorly used as gifting products during travelling and festival celebrations. In the initial stages of lockdown, panic buying of food supplies by consumers contributed to the rapid growth in the sales of mainstream chocolates in retail channels as a source of indulgence and comfort. Which region held the highest share in the market? The milk chocolate segment is expected to be the leading segment in this market during the forecast period. The growing demand for such chocolates has encouraged manufacturers to introduce small, consumer packs in the market, which is expected to boost growth during the forecast period. Free trial, before you make a purchase decision. "Market Intelligence that Adds Flavour to Your Success", Region : Global | Format: PDF | Report ID: FBI100539. Robust Demand for Specialty Chocolate Products Supports Market Growth. Molded bars market estimates and forecast, 2017-2030 (USD Billion)5.4. Distribution Channel Movement Analysis & Market Share, 2021-20307.2. What was the value of the market in North America in 2019? For instance, MycoTechnology, Inc. uses mushrooms to create sweeter chocolates with less sugar.

We are GDPR and CCPA compliant! For instance, in October 2021, Cadbury announced the launch of a vegan milk bar in Britain in two flavors such as Cadbury Plant Bar Smooth Chocolate and Cadbury Plant Bar Smooth Chocolate with Salted Caramel pieces.

Which is the key factor driving the market? This is a very good piece of work and will be very helpful to us going forward. Chocolate sales statistics for the recent months reveal that there is a huge rise in the purchase of chocolate items before the lockdown measures were implemented in almost all countries. Sales/Retail Channel Analysis3.4.2. Furthermore, the situation is leading to the disruption of the supply chains including the movement of raw materials from the producing countries to the consuming countries. Growing Awareness Regarding Health Risks Associated with Chocolate Confectioneries to Impede Market Growth. Driver Impact Analysis3.5.2. Financial Performance10.1.3.

For instance, in September 2021, premium brand Baron Chocolatier launched a product line of bars exclusively at Dollar Stores in the U.S. Asia Pacific is anticipated to be the fastest-growing region from 2022 to 2030. Furthermore, an increasing number of consumers globally are following healthy eating lifestyles that have specialized needs and demand better-for-me alternatives, as health & wellbeing have become a top priority. Stockpiling Stance of Consumers Led to Rise in First Quarter Sales of Chocolate Products. However, the milk chocolate segment holds the major market share across the globe owing to its popularity among children and adolescents. For instance, in February 2020, the company launched completely dairy-free chocolates to its plant craft range. How big is the chocolate confectionery market? Dark chocolates offer a premium appeal to the consumers along with the healthy, sensorial, and textural benefits. Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American, "Chocolate Confectionery Market Size, Share & Trends Analysis Report by Product (Boxed, Molded Bars), by Type (Milk, Dark), by Distribution Channel (Supermarkets & Hypermarkets, Online), by Region and Segment Forecasts, 2022-2030", Lake Champlain Chocolates10.9.1. Fortune Business Insights says that the global chocolate confectionery market size was valued at USD 114.33 billion in 2019 and is projected to reach USD 136.42 billion by 2027. Product Benchmarking10.3.4. Our support available to help you 24 hours a day, five days a week. However, the dark type segment is projected to register the highest growth during the forecast period. The leading players in the industry are taking efforts to develop and launch low-sugar chocolate products. Strategic Initiatives10.7. Most of the products launched by companies are debuted at big supermarkets & hypermarkets, such as Walmart, Tesco, and Kroger, due to their larger customer base. Online7.4.1. See for yourself. On the other hand, the companys international and other segments net sales have declined by 8.1% due to the slowdown in purchases in the Chinese market as the COVID-19 pandemic impacted the country well before the other countries. The global chocolate confectionery market size was valued at USD 114.33 billion in 2019 and is projected to reach USD 136.42 billion by 2027, exhibiting a CAGR of 2.3% during the forecast period. This is attributable to the increased production of artisanal chocolates and constant innovations in terms of flavors, and in-store promotions. Molded Bars5.3.1. The key brands in the market are capitalizing on such demands. Industry opportunities3.6. For instance, Nestl has patented a new process to naturally sweeten chocolate and to cut the use of refined sugar. "The quality of research they have done for us has been excellent.".

Bar chocolates are the most consumed chocolate form in the world. Very satisfied with the overall report as it has helped me to build strategies for my business, This is regarding the recent report I bought from Fortune Business insights. The adoption of the product is increasing remarkably among millennials and centennials. Key global players, recent developments & their impact on the industry9.2. Consumers consider a variety of factors when shopping for confectionery products, with many purchasing premium items. Industry Analysis-Porter's Five Forces3.6.1.1. The data offered to us was exactly what we were looking for. b. The rise in demand for chocolate confectionery by the consumers has made retailers hold greater shelf spaces for chocolate confectionery, especially in developed countries, such as the U.S. and the U.K. For instance, in June 2020, Wicked Kitchen, a vegan brand in the U.K., launched its first-ever vegan cupcakes through Tesco supermarkets in the U.K.The chocolate confectionery market is consolidated in nature with the presence of many international players and a few regional players. The trend of consuming healthy products to maintain overall health is expected to create enormous opportunities for dark & organic chocolate confectionery in forthcoming years. Which segment accounted for the largest chocolate confectionery market share? Milk6.2.1. Convenience Stores7.3.1. Market Introduction3.2. The global chocolate confectionery market is expected to grow at a compound annual growth rate of 6.4% from 2022 to 2030 to reach USD 312.6 billion by 2030. b. Europe dominated the chocolate confectionery market with a share of 32.6% in 2021. Please fill out the form below for a free PDF report sample & This FREE sample includes market data points, ranging from trend analyses to market estimates & forecasts.