Chocolate Market size was valued at US$ 138.07 Bn in 2022 and the total revenue is expected to grow at 5.1% through 2023 to 2029, reaching nearly US$ 195.58 Bn.
Chocolate Market Overview
Maximize Market Research's new report on the Global Chocolate Market 2023-2029 is a valuable resource for understanding the market's competitors and gaining key business insights. The report provides a comprehensive overview of the market, including its value chain structure, geographical analysis, applications, market size, and forecast (2023-2029). This information can be used to make more informed decisions about the current and future state of the global Chocolate market.
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Chocolate Market Scope
The report focuses on the key factors that are driving and restraining the growth of the Chocolate market, as well as the competitive landscape and future prospects. It provides insights into the current and future market trends, demand chain, supply chain, and sales, as well as recent changes in the market.
The report also includes company profiles of the key players in the Chocolate market, including their overview, financial performance, product portfolio, and strategies. It also uses SWOT and PESTLE analysis to provide a comprehensive view of the market.
Chocolate Market Segmentation
The global chocolate market is divided into three categories based on products: Milk Chocolate, Dark Chocolate, and White Chocolate. In 2022, the Dark Chocolate category accounted for 70.7% of the market. The demand for dark chocolate, which has a cocoa content of at least 60% and is believed to provide health advantages like lowering the risk of cardiovascular diseases and enhancing blood flow, is going to increase over the forecast period. Dark chocolate consumption has a number of positive health effects, including a reduction in anxiety and an improvement in the symptoms of clinical depression. The category is anticipated to grow during the projected period as consumers increasingly recognize dark chocolate as a nutritious food.
The global chocolate market is divided into Everyday Chocolate, Premium Chocolate, and Seasonal Chocolate based on sales category. In 2020, the Everyday Chocolate sector accounted for 82% of the market. because of the reasonable price. While during festive events, demand for seasonal chocolate increases. Additionally, a huge population in a low-income economy contributes to the great demand for affordable and mid-range chocolate. Particularly during Christmas, Easter, and Diwali, demand increases. The market for fine chocolate is expanding steadily.
The global chocolate market is divided into Online Channel, Departmental Store, Supermarket, Hypermarket, and Others based on the distribution channel. During the projected period, the global chocolate market is anticipated to develop at a higher CAGR of 5.6% for the Online Channel segment. Due to alluring deals and brands, the online channel is growing in popularity and market share among Indians. Growing numbers of new internet users in developing nations offer encouraging growth. Online chocolate sales have been enhanced by convenience, ease of use when searching, billing, a large selection of items, discounts, and promotions.
Chocolate Market Size and Forecast, by Product (2022-2029)
1. Milk Chocolate
2. Dark Chocolate
3. White Chocolate
Chocolate Market Size and Forecast, by Sales Category (2022-2029)
1. Everyday Chocolate
2. Premium Chocolate
3. Seasonal Chocolate
Chocolate Market Size and Forecast, by Distribution Channel (2022-2029)
3. Online Channel
3. Departmental Store
3. Supermarket
4. Hypermarket
5. Others
Chocolate Market Size and Forecast, by Region (2022-2029)
1. North America
2. Europe
3. Asia Pacific
4. Middle East and Africa
5. South America
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Chocolate Market Key Players
1. Kraft Foods
2. Nestle
3. Moonstruck Chocolatier Co.
4. Mars Inc.
5. Ghirardelli Chocolate Co.
6. Ferrero Group
7. Hershey Foods Corp.
8. Cadbury
9. Meiji Co Ltd
10.Arcor
11.Ezaki Glico Co Ltd
12.August Storck KG.
13.Barry Callebaut
14.Amul
15.Lindt & Sprüngli Ag.
16.Chocoladefabriken Lindt & Sprungli
17.Cargill
18.Olam International
19.Fuji Oil Company Ltd.
20.ECOM Agroindustrial Corporation Ltd.
21.Cocoa Processing Co. Ltd.
22.Touton S. A.
23.BD Associates Ghana Ltd.
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Regional Analysis
The global Chocolate Market's growth trend is examined in depth throughout the report. It divides the major 5 regions, such as North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa, which have global dominance in the Chocolate market.
Key Questions answered in the Chocolate Market Report are:
- What are the Chocolate market segments?
- What are the global trends in the Chocolate Market?
- What are the major challenges that the Chocolate Market could face in the future?
- How is the intervention from regulatory authority shaping the Chocolate Market?
- Who are the Chocolate key players in the industry?
- What growth strategies are the players considering to increase their presence in Chocolate Market?
- Which region held the largest Chocolate market share in 2022?
- Which regional Chocolate market is expected to grow rapidly during the forecast period?
Key offerings:
- A detailed Market Overview
- Market Share, Size & Forecast by Revenue | 2023−2029
- Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
- Market Segmentation – A detailed analysis of segments and sub-segments
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
- Recommendations
- Key Findings
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