Chocolate Market - Growth, Trends, and Forecast (2020 - 2025)

Global Chocolate Market is segmented by Type (Milk/White Chocolate, Dark Chocolate); by Product ( Softlines/ Selflines, Countlines, Molded Chocolates, Others); by Distribution Channel (Supermarkets/ Hypermarkets, Specialist Retailers, Convenience Stores, Online Channels, and Other Distribution Channels), and Geography.

Market Snapshot

Study Period:

2016-2024

Base Year:

2019

Fastest Growing Market:

Asia Pacific

Largest Market:

Europe

CAGR:

4.5 %

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Market Overview

Global chocolate market is projected to grow at a CAGR of 4.5% during the forecast period.

  • Global chocolate market is highly competitive, with the presence of numerous leading players accounting for the major share. The increasing demand and growing popularity of dark and organic chocolates are fuelling the market’s growth.
  • Europe is the second-largest market for chocolates. The moulded chocolate segment dominated the market in 2017 and is the most consumed chocolate in Europe. Furthermore, it is expected to maintain its dominance during the forecast period. In Europe, Russia is the largest market for chocolate, followed by Germany, the United Kingdom, and France.

 

Scope of the Report

The scope of the global chocolate market includes white/milk chocolate, dark chocolate.  By Product as Softlines/ Selflines, Countlines, Molded Chocolates, and Others. By distribution channel, the global chocolate market is segmented as supermarkets/ hypermarkets, specialist retailers, convenience stores, online channel, and other distribution channels.

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Key Market Trends

Impulse Purchasing Behaviour of Consumers

The impulse buying behavior of consumers is boosting the sales of chocolates across the globe. Consumers in the shopping store might not specifically be shopping for the confectionary goods like, chocolates. However, related confectionary items displayed at prominent places attract buyers’ attention and causes impulse buying behavior in them. The rising income levels of the consumers and the changing lifestyles are the key factors increasing the impulse purchase of the consumers. Children and grown-ups keep buying chocolates irrespective of their economic situation because chocolates are related to impulse purchase and are correlated with rewards and moments of happiness. The color and packaging of the chocolates play an important role in their purchase. The attractive packaging and color helps the manufacturer in gaining prompt spontaneous response from consumers. Purple was ranked, as the most influential color followed by red and blue, in stimulating the purchase of chocolate products.

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Moulded Chocolates Dominating the Market

North American consumers prefer dark chocolate over milk chocolate Innovation in chocolates is majorly concentrated on the seasonal chocolates which are used majorly for gifting purpose. Owing to the rise in demand for [premium chocolates, the United States accounted for the largest market share in the region. In Europe, the chocolate market is dominated by Russia, followed by the United Kingdom and Germany. There is a huge potential for the growth of the chocolate market in the Asia-Pacific region as various emerging economies such as China, India, and Japan. However, in South America, the Middle East, and Africa regions, the market is highly dominated by Mondelez international.

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Competitive Landscape

Mars Incorporated, Ferrero, Hershey’s, Modelez International, Nestle, are few among thsoe  prominent players companies in the global chocolate market. Nestle and Mars, Incorporated are the most active companies in terms of product launches. New Product launch is the most preferred strategy in the global market. The development of products to enhance the portfolio and to capture the untapped markets has driven the growth of the chocolate market. Owing to the changing tastes and preferences of consumers, there have been considerable developments of products by various market players. The leading players in the chocolate market enjoy a dominant presence worldwide. Brand loyalty among the consumers gives these companies an upper edge.

Table Of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Porters Five Forces Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Type

      1. 5.1.1 Dark Chocolate

      2. 5.1.2 Milk and White Chocolate

    2. 5.2 By Product

      1. 5.2.1 Softlines/Selflines

      2. 5.2.2 Countlines

      3. 5.2.3 Molded Chocolates

      4. 5.2.4 Other Product Types

    3. 5.3 By Distribution Channel

      1. 5.3.1 Supermarkets/ Hypermarkets

      2. 5.3.2 Specialist Retailers

      3. 5.3.3 Convenience Stores

      4. 5.3.4 Online Channel

      5. 5.3.5 Other Distribution Channels

    4. 5.4 Geography

      1. 5.4.1 North America

        1. 5.4.1.1 United States

        2. 5.4.1.2 Canada

        3. 5.4.1.3 Mexico

        4. 5.4.1.4 Rest of North America

      2. 5.4.2 Europe

        1. 5.4.2.1 Spain

        2. 5.4.2.2 United Kingdom

        3. 5.4.2.3 Germany

        4. 5.4.2.4 France

        5. 5.4.2.5 Italy

        6. 5.4.2.6 Russia

        7. 5.4.2.7 Rest of Europe

      3. 5.4.3 Asia Pacific

        1. 5.4.3.1 China

        2. 5.4.3.2 Japan

        3. 5.4.3.3 India

        4. 5.4.3.4 Australia

        5. 5.4.3.5 Rest of Asia-Pacific

      4. 5.4.4 South America

        1. 5.4.4.1 Brazil

        2. 5.4.4.2 Argentina

        3. 5.4.4.3 Rest of South America

      5. 5.4.5 Middle East and Africa

        1. 5.4.5.1 South Africa

        2. 5.4.5.2 United Arab Emirates

        3. 5.4.5.3 Rest of Middle East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Market Share Analysis

    2. 6.2 Most Active Companies

    3. 6.3 Most Adopted Strategies

    4. 6.4 Company Profiles

      1. 6.4.1 Mars Incorporated

      2. 6.4.2 Ferrero Group

      3. 6.4.3 Mondalez International

      4. 6.4.4 Hershey Co.

      5. 6.4.5 Nestle SA

      6. 6.4.6 Yıldız Holding

      7. 6.4.7 Chocoladenfabriken Lindt & Spr�ngli AG

      8. 6.4.8 Grupo Arcor

  7. *List Not Exhaustive
  8. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

** Subject to Availability

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