Chocolate Market Analysis and Forecast to 2025 | 4.7% CAGR Projection over the Next Five Years
Published | 30 March 2019
According to BlueWeave
Consulting, the global Chocolate Market is anticipated to worth USD 138.19
billion by 2025, with a CAGR of 4.7% during 2019-2025.
Chocolate, one of the
mouthwatering foods which are relished by kids, young and middle-aged people.
Consumers are now slowly shifting from traditional sweetmeats to the
well-wrapped chocolates, and owing to raising awareness about the health
benefits of consuming chocolate daily, shifting consumer preference and rising
disposable income drive the demand for chocolate. With an increase in demand
for healthy chocolates with a specific nutritional profile, to maintain a
healthy diet, consumers are showing more interest in sugar- free chocolates.
Nowadays chocolates are
preferred at the most auspicious festivals like Diwali, Raksha Bandhan in
countries India, Pakistan and Middle East Nations and also on occasions like
birthdays, weddings and engagements. Additionally, the use of chocolate as
functional foods due to high nutritional value and stress relieving ability,
coupled with an increase in seasonal and festival are likely to fuel market
growth.
Milk
Chocolate segment holds the largest market size of the entire chocolate market
during the forecast period.
Milk chocolate is one of the
most popular cocoa products made with a mixture of sugar, chocolate liquor, and
condensed milk or whole milk powder. As compared to the dark chocolate, milk
chocolate melts easily and has a lighter color and a creamier texture. The
chocolate helps in boosting memory, smoothening and hydrating the skin,
reducing the risk of heart strokes and attacks, and improving the immune
system. There has been an increase in the consumption of milk chocolate, due to
its benefits coupled with the rising purchasing power of the consumers, The dark chocolate segment is projected to
attain a significant market share during the forecast period. Dark chocolate
has several health benefits, like improves blood flow, enhances brain function,
lowers blood pressure, and reduces the risk of heart diseases, which aid in
fueling the global chocolate market during the forecast period.
North
America accounts for the largest market size in the global chocolate market
during the forecast period.
North America accounts for
the lion market share of the entire chocolate market due to the escalation in
product innovations and high disposable income. Changing consumer preferences
has increased sales of foreign and premium chocolates on occasions such as
valentine's day, birthday will propel the market. The arrival of chocolate
manufacturing multinationals, modern retail trade, changing urban lifestyles
fuelled the growth of the chocolate industry. The Asia Pacific emerged as one
of the fastest-growing regions owing to the rising influence of Western culture
and habits in countries in the region. With increasing purchasing power,
consumers are readily paying for taste and quality products.
Global
Chocolate Market Competitive Landscape
Companies such as Mondelez
International, Nestlé SA, Ferrero SpA, Mars, Incorporated, Gujarat Cooperative
Milk Marketing Federation Ltd., The Hershey Company, Meiji Co Ltd, Lindt &
Sprüngli, Surya Food & Agro Ltd., ITC Limited, August Storck KG, Barry
Callebaut, Ezaki Glico Co., Ltd., and Lotus Chocolate Company Limited are the
leading player in chocolate market.
Browse Detailed Analysis
with TOC, “Global Chocolate Market, By
Type (Milk Chocolate, Dark Chocolate, and White Chocolate), By Category
(Molded, Countlines, Pouches & Bags, Boxed & Others), By Distribution
Channel (Retail Stores, Specialty Retailers and Online Distributors), By Region
(North America, Europe, Asia Pacific, Middle East & Africa and Latin
America), Growth Potential, Competitive Market Size and Forecast, 2015-2025”
At
Get Help
Relevant Press Releases
- Global Prefabricated Buildings Market Research Report-Forecast to 2025
- Rising awareness regarding oral hygiene and increasing prevalence of dental problems will boost the mouthwash Market
- Global Concentrating Solar Power Market Growing: Projected to Touch USD 8.40 Billion During the Forecast Period
- Halal Food Market is expected to grow at CAGR 7.2% during the forecast period, 2019-2025
- Security Screening Market is expected to grow at 4.89% CAGR during the forecast period 2019 to 2025