Need a report that reflects how COVID-19 has impacted this market and its growth?
The Europe premium chocolate market is projected to grow at a CAGR of 8.12% during the forecast period.
The spread of COVID-19 has led to lockdowns in Europe and other parts of the world, which disrupted the availability of raw cocoa. But it indirectly helped increase local production of cocoa along with government support. Chocolates are not on the essential commodities list of consumers but it is a source of indulgence and comfort that consumers look for in times of uncertainty. Consumption patterns of consumers are constantly changing, and companies are acting accordingly to fulfil needs through innovative marketing strategies and positioning.
The Fine Cacao and Chocolate Institute (FCCI) recently surveyed to better understand the impact of Covid-19; the survey revealed that the cancellation of industry events is a significant source of the decline in craft chocolate sales. Lower consumer demand, of course, also plays an important role.
Consumers choose premium chocolates in most of the countries in this region, especially from the supermarkets, Online e-commerce and hypermarkets, owing to the unique variety of attractive products being offered, ready packaging, in-store promotions, Online promotions, and consistent chocolate quality.
Scope of the Report
Premium chocolate is defined by the packaging, presentation and stores, but not the ingredients or labor. Europe Premium Chocolate Market is segmented on the basis of product type into Dark Premium Chocolate and White/milk Premium Chocolate. By Distribution Channel the market is segmented into Hypermarkets/Supermarkets, Convenience Stores, Online Retail Stores and Other Distribution Channels. The market has also been diversely classified on the basis of countries including United Kingdom, France, Germany, Italy, Spain, Russia, Switzerland, and Rest of Europe. For each segment, the market sizing and forecasts have been done on the basis of value (in USD million).
|By Product Type|
|Dark Premium Chocolate|
|White/ Milk Premium Chocolates|
|By Distribution Channel|
|Online Retail Stores|
|Other Distribution Channels|
|Rest of Europe|
Key Market Trends
Dark Premium Chocolates are Growing at a Faster Pace
The demand for fine flavour cocoa in Europe is experiencing substantial growth, as ultra and high-end beans are used for gourmet chocolates and regular and low-fine beans are used for regular premium chocolates.
Increased awareness of people regarding the health benefits of Dark Premium chocolates which have antioxidants, many essential nutrients, vitamins, e.t.c, along with mass media promotions like social media, Facebook, Twitter, Instagram, and many other online, offline promotions are fueling demand. The growing popularity among premium chocolates as token of love, happiness, appreciation, which are given as presents during the festive season, primarily attracts consumers who are influenced by the price, packaging, ingredients, authenticity, or product, and the buying experience is anticipated to boost the demand for chocolate. Growing demand for organic, vegan, sugar-free, and gluten-free chocolates is creating opportunities for the manufacturers.
To understand key trends, Download Sample Report
France Dominated the Europe Premium Chocolate Market
The France premium chocolate market is growing at a rate of 7.89% CAGR during the forecasted period. The dark chocolate with high-quality cocoa content, mixed with assorted nuts, has become a gourmet product in the country. The country has large coco, and chocolate manufacturing industry. It is one of important market for speciality premium chocolates. Moreover, in France, the consumers are trying to control the quantity of chocolate intake by opting for bite-sized chocolate. These factors have helped to boost the demand for premium chocolates in France.The consumers have gradually started purchasing premium chocolates available in boxes as gifts, owing to the variety in flavors and textures. The French premium chocolate market for bio-organic chocolate tablets is rapidly growing, and the tablets are the main products in this market. The phenomenon of organic premium chocolates is no more a niche, and the supply of organic products is expanding. Consumers favour dark chocolates, premium ingredients and high-quality cocoa.
To understand geography trends, Download Sample Report
European Premium Chocolate Market is a moderately consolidated market, , with the significant presence of global players, as well as regional players. Global renowned players who held a prominent share include Chocoladefabriken Lindt & Sprungli AG, Ferrero Group, Mondelez International, and Nestle. Product innovation and expansion have been the crucial strategies behind the development of these companies in the European market.
23 April 2022:- Uk, British confectionery business Fudge Kitchen has delivered a rebrand of its range, emphasising sustainability in improving packaging recyclability. The company revealed that its rebrand spans its entire range, shop fronts and website, including creating a new logo, which changed for the first time since 2012. Companies are moving towards sustainable packages and environmental friendly across everything.
20 April 2022:- Barry Callebaut has announced it has renewed its agreement with Grupo Bimbo to supply chocolate and compound in several countries in Central America, the US, Canada and Uruguay. Mexican Grupo Bimbo is the world's largest baked goods company, The extended strategic supply agreement enables both companies to continue to drive strategic, long-term growth globally.
14 Febuary 2022:- This year’s Easter season, Italian luxury chocolate manufacturer, Venchi, has focused its latest egg collection with a core emphasis on sustainable packaging using recycled PET (minimum 70%), cotton-blend fabric or FSC-certified paper. The company revealed, delivering on environmental goals is of significant importance to the business, with its latest lines being available at London boutiques in Covent Garden, Exhibition Road, King’s Road, Hampstead, Richmond and Harrods, as well as its own online store. This shows the shift in companies towards sustainability and protecting envirolment.
Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
3.1 Market Overview
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Product Type
5.1.1 Dark Premium Chocolate
5.1.2 White/ Milk Premium Chocolates
5.2 By Distribution Channel
5.2.2 Convenience Stores
5.2.3 Online Retail Stores
5.2.4 Other Distribution Channels
5.3.1 United Kingdom
5.3.8 Rest of Europe
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Most Active Companies
6.2 Most Adopted Strategies
6.3 Market Share Analysis
6.4 Company Profiles
6.4.1 Chocoladefabriken Lindt & Sprungli AG
6.4.2 Ferrero International SA
6.4.3 Mondelez International Inc.
6.4.4 Yildiz Holding
6.4.5 Nestle SA
6.4.6 Mars Incorporated
6.4.7 Valrhona Inc.
6.4.8 Neuhaus NV
6.4.9 Pierre Marcolini Group
6.4.10 Cemoi Group
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. IMPACT OF COVID-19 ON THE MARKET
You can also purchase parts of this report. Do you want to check out a section wise price list?
Frequently Asked Questions
What is the study period of this market?
The Europe Premium Chocolate Market market is studied from 2016 - 2027.
What is the growth rate of Europe Premium Chocolate Market?
The Europe Premium Chocolate Market is growing at a CAGR of 8.12% over the next 5 years.
Who are the key players in Europe Premium Chocolate Market?
Chocoladefabriken Lindt & Sprüngli AG, Mondelez International, Mars, Nestle, Ferrero are the major companies operating in Europe Premium Chocolate Market.