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 chocolate market outlook. 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 Market Overview:
Chocolate, derived from cacao beans, is a beloved indulgence enjoyed worldwide. This delectable treat encompasses a rich history dating back to ancient civilizations. It is processed in various forms, from creamy milk chocolate to intense dark chocolate. Its taste ranges from sweet to bitter, catering to diverse palates. Beyond its delightful flavor, chocolate is known for its mood-enhancing properties, thanks to compounds like theobromine and phenylethylamine. It’s also a source of antioxidants and may have potential health benefits when consumed in moderation. Whether as a comforting snack, a luxurious gift, or a baking ingredient, chocolate symbolizes pleasure and temptation, transcending cultural boundaries and captivating taste buds everywhere.
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Chocolate Market Trends:
The global market is majorly driven by the increasing consumer demand. In line with this, the rising product innovations are significantly contributing to the market. Furthermore, the growing health benefits offered by the product are positively influencing the market. Apart from this, the escalating level of consumers’ willingness to pay more for high-quality, artisanal chocolates is catalyzing the market. Moreover, the chocolate brands expand their presence in emerging markets, increasing sales. The gift-giving culture and the inflating disposable incomes of the consumers are propelling the product demand. Besides, the effective marketing campaigns and the widespread availability of the product are strengthening the market. Additionally, the chocolate’s versatility in recipes and beverages drives demand in the culinary industry.
Chocolate Market Segmentation:
Competitive Landscape:
- Arcor
- 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
Breakup by Product Type:
- White Chocolate
- Milk Chocolate
- Dark Chocolate
- Others
Breakup by Product Form:
- Molded
- Countlines
- Others
Breakup by Application:
- Food Products
- Bakery Products
- Sugar Confectionery
- Desserts
- Others
- Beverages
- Others
Breakup by Pricing:
- Everyday Chocolate
- Premium Chocolate
- Seasonal Chocolate
Breakup by Distribution:
- Direct Sales (B2B)
- Supermarkets/Hypermarkets
- Convenience Stores
- Online Stores
- Others
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
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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