Chocolate Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030

Description

The global chocolate market is experiencing significant growth driven by the rising health consciousness among consumers and the growing demand for confectionery products. Dark chocolate, enriched with flavanols and preferred by health-conscious individuals, has gained popularity due to its associated health benefits. Luxury chocolate brands are also capitalizing on this trend by focusing on innovative packaging. The confectionery industry, including home bakers and the cafe culture, plays a vital role in driving the chocolate market's growth. Additionally, the demand for milk chocolate remains high, appealing to a wider range of consumers and finding applications in various confectionery products. Europe dominates the chocolate market, particularly renowned for Belgian and Swiss chocolates.

Health Consciousness and Popularity of Dark Chocolate:

The health benefits of dark chocolate, such as its flavanol content and blood pressure-lowering properties, have fueled its consumption. Dark chocolate's plant-based nature has also made it popular among vegan consumers. Its bitterness and smooth texture add to its appeal. The trend of health-consciousness and the preference for dark chocolate are expected to drive fresh revenue streams for the global chocolate market.

Confectionery Industry and Home Baking Boost Chocolate Demand:

The COVID-19 pandemic has led to a surge in home baking, increasing the demand for chocolate products in cakes, bars, toffees, and bread. The rise in cafe culture has further contributed to the global demand for chocolate, as it is a key ingredient in various cafe offerings. Confectionery chocolate sales have also risen due to the installation of vending machines in hospitals and offices. The confectionery industry strongly influences the chocolate market's growth.

Surging Demand for Milk Chocolate:

Milk chocolate is expected to experience high demand compared to other chocolate variants. Its taste and texture make it an ideal ingredient in a wide range of confectionery products, including wafers, bars, chips, and cookies. Milk chocolate is also preferred for flavored beverages. Its accessibility and ability to be used in various recipes make it appealing to consumers across all age and income groups. The growing preference for milk chocolate contributes to the overall growth of the global chocolate market.

Europe's Dominance in the Chocolate Market:

Europe, known for its Belgian and Swiss chocolates, dominates the global chocolate market. The region has a long-standing tradition of chocolate consumption, offering smoother and richer tastes. Belgian and Swiss chocolates are renowned for their silky, exotic, and rich mouthfeel, setting the standard for chocolatiers worldwide. Europe's reputation in the chocolate market gives it a leading position.

Key Market Players:

Major players in the global chocolate market include: Nestle, Barry Callebaut, Ferrero Group, Moonstruck Chocolate, The Australian Carob Co., Mondelez International, Lindt & Sprungli AG, Mars, Incorporated, Meiji Holdings Co., Ltd., Arcor, Cargill, Incorporated, and The Hershey Company. These companies actively contribute to the market's growth through their wide range of chocolate products and continuous innovation.

1. Executive Summary

1.1. Global Chocolate Market: Snapshot
1.2. Future Projections, 2023 - 2030, (US$ Mn)
1.3. Key Segment Analysis and Competitive Insights
1.4. Analyst Recommendations

2. Market Overview

2.1. Market Definitions and Segmentations
2.2. Market Dynamics
- 2.2.1. Drivers
  - 2.2.1.1. Driver A
  - 2.2.1.2. Driver B
  - 2.2.1.3. Driver C
- 2.2.2. Restraints
  - 2.2.2.1. Restraint 1
  - 2.2.2.2. Restraint 2
- 2.2.3. Market Opportunities Matrix
2.3. Value Chain Analysis
2.4. Supply Chain Interpretation (Margins, etc.)
2.5. Porter's Five Forces Analysis
2.6. Covid-19 Impact Analysis
- 2.6.1. Supply
- 2.6.2. Demand
2.7. Government Regulations
2.8. Recent Industry Developments
2.9. Per Capita Chocolate Consumption, by Region
2.10. Promotional Strategies, Key Players
2.11. R&D Expenditures Key Manufacturers
2.12. Economic Analysis
2.13. PESTLE Analysis

3. Production Output and Trade Statistics, 2019 - 2030

3.1. Chocolate Supply-Demand Analysis
3.2. Regional Production Statistics
- 3.2.1. North America
- 3.2.2. Europe
- 3.2.3. Asia Pacific
- 3.2.4. Latin America
- 3.2.5. Middle East & Africa
3.3. Trade Statistics

4. Price Trends Analysis and Future Projects, 2019 - 2030

4.1. Key Highlights
4.2. Prominent Factors Affecting Prices
4.3. By Type and By Sales Category
4.4. By Region

5. Global Chocolate Market Outlook, 2019 - 2030

5.1. Global Chocolate Market Outlook, by Type, Value (US$ Mn) and Volume (Tons), 2019 - 2030
- 5.1.1. Key Highlights
  - 5.1.1.1. Dark
  - 5.1.1.2. White
  - 5.1.1.3. Milk
  - 5.1.1.4. Ruby
- 5.1.2. Market Attractiveness Analysis
5.2. Global Chocolate Market Outlook, by Sales Category, Value (US$ Mn) and Volume (Tons), 2019 - 2030
- 5.2.1. Key Highlights
  - 5.2.1.1. Everyday
  - 5.2.1.2. Premium & Gourmet
  - 5.2.1.3. Seasonal
5.3. Global Chocolate Market Outlook, by Distribution Channels, Value (US$ Mn) and Volume (Tons), 2019 - 2030
- 5.3.1. Key Highlights
  - 5.3.1.1. Supermarkets & Hypermarkets
  - 5.3.1.2. On-Trade (Vending Machine, Convenience Stores)
  - 5.3.1.3. Online
  - 5.3.1.4. Specialty Retailers
5.4. Global Chocolate Market Outlook, by Region, Value (US$ Mn) and Volume (Tons), 2019 - 2030
- 5.4.1. Key Highlights
  - 5.4.1.1. North America
  - 5.4.1.2. Europe
  - 5.4.1.3. Asia Pacific
  - 5.4.1.4. Latin America
  - 5.4.1.5. Middle East & Africa
- 5.4.2. Market Attractiveness Analysis

6. North America Chocolate Market Outlook, 2019 - 2030

6.1. North America Chocolate Market Outlook, by Type, Value (US$ Mn) and Volume (Tons), 2019 - 2030
- 6.1.1. Key Highlights
  - 6.1.1.1. Dark
  - 6.1.1.2. White
  - 6.1.1.3. Milk
  - 6.1.1.4. Ruby
- 6.1.2. Market Attractiveness Analysis
6.2. North America Chocolate Market Outlook, by Sales Category, Value (US$ Mn) and Volume (Tons), 2019 - 2030
- 6.2.1. Key Highlights
  - 6.2.1.1. Everyday
  - 6.2.1.2. Premium & Gourmet
  - 6.2.1.3. Seasonal
6.3. North America Chocolate Market Outlook, by Distribution Channels, Value (US$ Mn) and Volume (Tons), 2019 - 2030
- 6.3.1. Key Highlights
  - 6.3.1.1. Supermarkets & Hypermarkets
  - 6.3.1.2. On-Trade (Vending Machine, Convenience Stores)
  - 6.3.1.3. Online
  - 6.3.1.4. Specialty Retailers
6.4. North America Chocolate Market Outlook, by Country, Value (US$ Mn) and Volume (Tons), 2019 - 2030
- 6.4.1. Key Highlights
  - 6.4.1.1. U.S.
  - 6.4.1.2. Canada

7. Europe Chocolate Market Outlook, 2019 - 2030

7.1. Europe Chocolate Market Outlook, by Type, Value (US$ Mn) and Volume (Tons), 2019 - 2030
- 7.1.1. Key Highlights
  - 7.1.1.1. Dark
  - 7.1.1.2. White
  - 7.1.1.3. Milk
  - 7.1.1.4. Ruby
- 7.1.2. Market Attractiveness Analysis
7.2. Europe Chocolate Market Outlook, by Sales Category, Value (US$ Mn) and Volume (Tons), 2019 - 2030
- 7.2.1. Key Highlights
  - 7.2.1.1. Everyday
  - 7.2.1.2. Premium & Gourmet
  - 7.2.1.3. Seasonal
7.3. Europe Chocolate Market Outlook, by Distribution Channels, Value (US$ Mn) and Volume (Tons), 2019 - 2030
- 7.3.1. Key Highlights
  - 7.3.1.1. Supermarkets & Hypermarkets
  - 7.3.1.2. On-Trade (Vending Machine, Convenience Stores)
  - 7.3.1.3. Online
  - 7.3.1.4. Specialty Retailers
7.4. Europe Chocolate Market Outlook, by Country, Value (US$ Mn) and Volume (Tons), 2019 - 2030
- 7.4.1. Key Highlights
  - 7.4.1.1. Germany
  - 7.4.1.2. France
  - 7.4.1.3. U.K.
  - 7.4.1.4. Italy
  - 7.4.1.5. Turkey
  - 7.4.1.6. Russia
  - 7.4.1.7. Rest of Europe
- 7.4.2. BPS Analysis/Market Attractiveness Analysis

8. Asia Pacific Chocolate Market Outlook, 2019 - 2030

8.1. Asia Pacific Chocolate Market Outlook, by Type, Value (US$ Mn) and Volume (Tons), 2019 - 2030
- 8.1.1. Key Highlights
  - 8.1.1.1. Dark
  - 8.1.1.2. White
  - 8.1.1.3. Milk
  - 8.1.1.4. Ruby
- 8.1.2. Market Attractiveness Analysis
8.2. Asia Pacific Chocolate Market Outlook, by Sales Category, Value (US$ Mn) and Volume (Tons), 2019 - 2030
- 8.2.1. Key Highlights
  - 8.2.1.1. Everyday
  - 8.2.1.2. Premium & Gourmet
  - 8.2.1.3. Seasonal
8.3. Asia Pacific Chocolate Market Outlook, by Distribution Channels, Value (US$ Mn) and Volume (Tons), 2019 - 2030
- 8.3.1. Key Highlights
  - 8.3.1.1. Supermarkets & Hypermarkets
  - 8.3.1.2. On-Trade (Vending Machine, Convenience Stores)
  - 8.3.1.3. Online
  - 8.3.1.4. Specialty Retailers
8.4. Asia Pacific Chocolate Market Outlook, by Country, Value (US$ Mn) and Volume (Tons), 2019 - 2030
- 8.4.1. Key Highlights
  - 8.4.1.1. China
  - 8.4.1.2. Japan
  - 8.4.1.3. South Korea
  - 8.4.1.4. India
  - 8.4.1.5. Southeast Asia
  - 8.4.1.6. Rest of Asia Pacific
- 8.4.2. BPS Analysis/Market Attractiveness Analysis

9. Latin America Chocolate Market Outlook, 2019 - 2030

9.1. Latin America Chocolate Market Outlook, by Type, Value (US$ Mn) and Volume (Tons), 2019 - 2030
- 9.1.1. Key Highlights
  - 9.1.1.1. Dark
  - 9.1.1.2. White
  - 9.1.1.3. Milk
  - 9.1.1.4. Ruby
- 9.1.2. Market Attractiveness Analysis
9.2. Latin America Chocolate Market Outlook, by Sales Category, Value (US$ Mn) and Volume (Tons), 2019 - 2030
- 9.2.1. Key Highlights
  - 9.2.1.1. Everyday
  - 9.2.1.2. Premium & Gourmet
  - 9.2.1.3. Seasonal
9.3. Latin America Chocolate Market Outlook, by Distribution Channels, Value (US$ Mn) and Volume (Tons), 2019 - 2030
- 9.3.1. Key Highlights
  - 9.3.1.1. Supermarkets & Hypermarkets
  - 9.3.1.2. On-Trade (Vending Machine, Convenience Stores)
  - 9.3.1.3. Online
  - 9.3.1.4. Specialty Retailers
9.4. Latin America Chocolate Market Outlook, by Country, Value (US$ Mn) and Volume (Tons), 2019 - 2030
- 9.4.1. Key Highlights
  - 9.4.1.1. Brazil
  - 9.4.1.2. Mexico
  - 9.4.1.3. Rest of Latin America
- 9.4.2. BPS Analysis/Market Attractiveness Analysis

10. Middle East & Africa Chocolate Market Outlook, 2019 - 2030

10.1. Middle East & Africa Chocolate Market Outlook, by Type, Value (US$ Mn) and Volume (Tons), 2019 - 2030
- 10.1.1. Key Highlights
  - 10.1.1.1. Dark
  - 10.1.1.2. White
  - 10.1.1.3. Milk
  - 10.1.1.4. Ruby
- 10.1.2. Market Attractiveness Analysis
10.2. Middle East & Africa Chocolate Market Outlook, by Sales Category, Value (US$ Mn) and Volume (Tons), 2019 - 2030
- 10.2.1. Key Highlights
  - 10.2.1.1. Everyday
  - 10.2.1.2. Premium & Gourmet
  - 10.2.1.3. Seasonal
10.3. Middle East & Africa Chocolate Market Outlook, by Distribution Channels, Value (US$ Mn) and Volume (Tons), 2019 - 2030
- 10.3.1. Key Highlights
  - 10.3.1.1. Supermarkets & Hypermarkets
  - 10.3.1.2. On-Trade (Vending Machine, Convenience Stores)
  - 10.3.1.3. Online
  - 10.3.1.4. Specialty Retailers
10.4. Middle East & Africa Chocolate Market Outlook, by Country, Value (US$ Mn) and Volume (Tons), 2019 - 2030
- 10.4.1. Key Highlights
  - 10.4.1.1. GCC
  - 10.4.1.2. South Africa
  - 10.4.1.3. Egypt
  - 10.4.1.4. Rest of Middle East & Africa
- 10.4.2. BPS Analysis/Market Attractiveness Analysis

11. Competitive Landscape

11.1. Company Market Share Analysis, 2022
11.2. Competition Matrix (By Tier and Size of companies)
11.3. Strategic Collaborations
11.4. Company Profiles
- 11.4.1. Mars Wrigley Confectionary
  - 11.4.1.1. Company Overview
  - 11.4.1.2. Product Portfolio
  - 11.4.1.3. Financial Overview
  - 11.4.1.4. Business Strategies and Development
- 11.4.2. The Hershey Company
- 11.4.3. Ferrero Group
- 11.4.4. Mondelez International Inc.
- 11.4.5. Meiji Co Ltd
- 11.4.6. Nestle SA
- 11.4.7. Chocoladefabriken Lindt Sprungli AG
- 11.4.8. Pladis Global
- 11.4.9. Ezaki Glico Co. Ltd.
- 11.4.10. Haribo GmbH Co. K.G.
- 11.4.11. Perfetti Van Melle

12. Appendix

12.1. Acronyms and Abbreviations
12.2. Research Scope & Assumptions
12.3. Research Methodology and Information Sources