Originally published on Technavio:Global Chocolate Market Analysis and Forecast (2023-2027): Product Varieties, Distribution Channels, and Geographic Trends

Summary:

Published in October 2023, this comprehensive report by Technavio covers the Chocolate Market, offering insights into its dynamics, growth forecast, and market challenges. With a page count of 166, the report analyzes key players, market segmentation, and regional trends. The global chocolate market is projected to witness a USD 45.78 million increase from 2022 to 2027, boasting a Compound Annual Growth Rate (CAGR) of 4.97%.

Market Overview:

The report identifies the chocolate market as a global industry encompassing production, distribution, and consumption of chocolate products. The appeal and health benefits are enhanced by flavonoids, natural compounds found in cocoa beans. Major multinational companies like Mars, Barry Callebaut, and Mondelez International dominate the market, focusing on differentiation, premiumization, and personalization.

Market Dynamics:

Growing consumer demand for healthier alternatives, including vegan, organic, and sugar-free options, has witnessed significant growth. Companies are responding with low-sugar and nutrient-fortified alternatives. Despite this, unstable cocoa prices and declining per capita consumption pose challenges, creating volatility in production costs.

Market Segmentation:

The report delves into market segmentation by distribution channel and product. Offline channels, including hypermarkets, supermarkets, and convenience stores, dominate the market. Milk chocolate holds a significant market share, valued at USD 64.51 million in 2017. However, the increasing health consciousness of consumers has slowed the demand for milk chocolates, prompting companies to innovate with new product variants.

Key Regions Market:

Europe is estimated to contribute 35% to the global market's growth during the forecast period. The region has a strong tradition of chocolate making and consumption, with major markets in the UK, Germany, Italy, Belgium, Switzerland, and Russia.

Companies Overview:

Key players in the chocolate market include Arcor Group, AUGUST STORCK KG, Barry Callebaut AG, Chocoladefabriken Lindt and Sprungli AG, and others. These companies employ various strategies such as alliances, mergers, acquisitions, and product launches to enhance their market presence.

Market Customer Landscape:

The report analyzes the market's growth from innovator to laggard stages, emphasizing the increasing consumer consciousness. It highlights the demand for specialty chocolates, including vegan, organic, and sugar-free options.

Market Analyst Overview:

The market is experiencing a notable shift driven by increasing consumer consciousness. The report emphasizes the premiumization of chocolate-based products, with a focus on visually appealing packaging.

Segment Overview:

The report forecasts market growth by revenue at global, regional, and country levels, analyzing trends and growth opportunities from 2017 to 2027. It provides a detailed outlook on product varieties, distribution channels, and regional dynamics.

To Learn deeper into this report , View Sample PDF

The report covers 160 pages, with a base year of 2022 and a forecast period from 2023 to 2027. The market is fragmented, with a CAGR of 4.97%, a market growth of USD 45.78 million, and Europe contributing 35% to the growth. Leading companies include Arcor Group, Barry Callebaut AG, and Nestle SA.

The report offers customization options for clients seeking additional data not included in the standard report. Analysts can be contacted to tailor segments according to specific requirements.

For more information please contact.

Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

Email: media@technavio.com

Website: www.technavio.com/