Chocolate Market Analysis, Growth Projection, Share Estimation and Forecast 2023-2028
According to the latest report by IMARC Group, titled “Chocolate Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a comprehensive analysis of the industry, which comprises insights on global chocolate market report. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global chocolate market size reached US$ 156.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 181.8 Billion by 2028, exhibiting a growth rate (CAGR) of 2.4% during 2023-2028.
Chocolate is a popular sweet treat made from roasted and ground cacao beans. It has been enjoyed for thousands of years and has played an important cultural and economic role in many parts of the world. It comes in many forms, including milk chocolate, dark chocolate, white chocolate, and chocolate bars, and is used in various desserts, confections, and baked goods. It contains several beneficial compounds, including flavonoids and antioxidants, which have been shown to have potential health benefits, such as improving heart health and cognitive function.
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The global market is primarily driven by the increasing demand for chocolate as a sweet treat. In line with this, the rising popularity of premium and artisanal chocolates is significantly contributing to market growth. Furthermore, the growing consumption of chocolate, especially among kids, is positively influencing the market. Apart from this, the key companies are constantly introducing new chocolate products and flavors to cater to consumers’ changing tastes and preferences and stay competitive in the market. Moreover, the escalating awareness among consumers about the health benefits offered by the product is creating a positive outlook for the market. Besides, the emerging trend of gifting chocolates during festivals and special occasions is offering lucrative opportunities for the market. Additionally, the inflating disposable incomes of consumers are driving the demand for premium chocolate products, as consumers are willing to pay more for high-quality chocolates.
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The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
- Barry Callebaut
- Chocoladefabriken Lindt & Sprüngli AG
- Chocolaterie Guylian
- Ferrero International
- Mars Incorporated
- Meiji Co. Ltd.
- Mondelez International Inc. (Kraft Foods)
- Moonstruck Chocolate Company
- Nestlé S.A.
- The Hershey Company
Chocolate Market Segmentation:
Our report has categorized the market based on region, product type, product form, application, pricing and distribution.
Breakup by Product Type:
- White Chocolate
- Milk Chocolate
- Dark Chocolate
Breakup by Product Form:
Breakup by Application:
- Food Products
- Bakery Products
- Sugar Confectionery
Breakup by Pricing:
- Everyday Chocolate
- Premium Chocolate
- Seasonal Chocolate
Breakup by Distribution:
- Direct Sales (B2B)
- Convenience Stores
- Online Stores
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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