Market Size of Europe Premium Chocolate Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 8.66 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe Premium Chocolate Market Analysis
The European premium chocolate market is projected to witness a CAGR of 8.66% over the next five years.
The European premium chocolate market is majorly driven by growing consumer interest in premium chocolates to gift and consume. Additionally, the growing popularity of gourmet chocolates prepared from ultra-fine cocoa beans and the attractive and luxury packaging offered by the players for gifting premium chocolates on special occasions is further augmenting the market growth. Moreover, several manufacturers also launch a wide range of premium chocolate varieties with specific shapes, patterns, and sizes customized for Christmas, Halloween, and Easter. For instance, in December 2022, Cadbury placed 36 items on sale with offers of up to 66%. One of those deals included the Cadbury retro selection box, which was a special Christmas treat that contained a classic collection of Dairy Milk, Dairy Milk Whole Nut, Dairy Milk Caramel, and Dairy Milk Fruit & Nut in Cadbury heritage bar wraps.
Moreover, the emergence of organic, vegan, sugar-free, and gluten-free premium chocolates is also catalyzing the product demand in Europe. The growing popularity of veganism and increasing health consciousness among consumers in the region, especially among millennials, is a major factor driving this segment of the market. For instance, according to YouGov, in the United Kingdom, as of December 2021, 89% of polled consumers in Great Britain stated that they were vegan due to an ethical motivation. Such instances, along with the growing awareness about the health benefits of dark chocolate, are boosting the market's growth.
