PUBLISHER: IMARC | PRODUCT CODE: 1291245
PUBLISHER: IMARC | PRODUCT CODE: 1291245
Milk Chocolate Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
Market Overview:
The global milk chocolate market size reached US$ 60.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 75.2 Billion by 2028, exhibiting a growth rate (CAGR) of 3.7% during 2023-2028.
Milk chocolate is one of the most popular cocoa products made from a mixture of sugar, chocolate liquor and condensed milk or whole milk powder. As compared to plain or dark chocolate, milk chocolate melts easily and has a lighter color and a creamier texture. The consumption of milk chocolate helps in boosting memory, smoothening and hydrating the skin, reducing the risk of heart strokes and attacks, and improving the immune system. In addition, it is a rich source of flavonoids, a type of antioxidants, which eliminate free radicals from the blood stream and improve the blood flow. On account of these benefits, coupled with the rising purchasing power of the consumers, there has been an increase in the consumption of milk chocolate across the globe.
Global Milk Chocolate Market Drivers:
In recent years, manufacturers have started introducing new variants of milk chocolate by combining it with other food items such as orange, caramel, cookies and nuts. Apart from this, they have also launched products in different shapes and sizes such as bars, chips, cubes and wafers. The availability of these variants has given a rise to the overall consumption of milk chocolate. Moreover, milk chocolate is increasingly being used for the formulation of a wide range of beverages and confectionery products, such as cakes, milkshakes, croissants and hot chocolate, which is contributing to the growth of the global milk chocolate market. However, a shift in consumer preferences towards dark chocolate, which is perceived to offer superior health benefits, can pose a threat to the consumption of milk chocolate in the upcoming years.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global milk chocolate market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on distribution channel.
Breakup by Distribution Channel:
- Supermarkets and Hypermarkets
- Convenience Stores
- Non-Grocery Retailers
- Others
The milk chocolate market has been segmented on the basis of distribution channels which are currently dominated by supermarkets and hypermarkets. These stores offer numerous brands and types of milk chocolate to the consumers in one place.
Regional Insights:
- Western Europe
- North America
- Eastern Europe
- Asia
- Latin America
- Middle East and Africa
- Australasia
On a geographical front, Western Europe represents the largest market for milk chocolate, holding the majority of the market share. This can be attributed to the increasing production of milk chocolate in countries like France and Germany.
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
Key Questions Answered in This Report:
- What was the size of the global milk chocolate market in 2022?
- What is the expected growth rate of the global milk chocolate market during 2023-2028?
- What are the key factors driving the global milk chocolate market?
- What has been the impact of COVID-19 on the global milk chocolate market?
- What is the breakup of the global milk chocolate market based on the distribution channel?
- What are the key regions in the global milk chocolate market?
Table of Contents
1 Preface
2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
5 Global Chocolate Industry
- 5.1 Market Overview
- 5.2 Market Performance
- 5.2.1 Volume Trends
- 5.2.2 Value Trends
- 5.3 Market Breakup by Region
- 5.4 Market Breakup by Product
- 5.5 Market Breakup by Packaging
- 5.6 Market Breakup by End-Use
- 5.7 Market Share of Key Players
- 5.8 Market Forecast
6 Global Milk Chocolate Industry
- 6.1 Market Overview
- 6.2 Market Performance
- 6.2.1 Volume Trends
- 6.2.2 Value Trends
- 6.3 Impact of COVID-19
- 6.4 Price Analysis
- 6.4.1 Key Price Indicators
- 6.4.2 Price Structure
- 6.4.3 Price Trends
- 6.5 Market by Region
- 6.6 Market by Distribution Channel
- 6.7 Market Forecast
- 6.8 SWOT Analysis
- 6.8.1 Overview
- 6.8.2 Strengths
- 6.8.3 Weaknesses
- 6.8.4 Opportunities
- 6.8.5 Threats
- 6.9 Value Chain Analysis
- 6.9.1 Overview
- 6.9.2 Cocoa Growers
- 6.9.3 Cocoa Grinders
- 6.9.4 Coverture/Industrial Chocolate Manufacturers
- 6.9.5 End Use Industries
- 6.9.6 Chocolate Manufacturers
- 6.9.7 Distributors
- 6.9.8 Exporters
- 6.9.9 Retailers
- 6.10 Porters Five Forces Analysis
- 6.10.1 Overview
- 6.10.2 Bargaining Power of Buyers
- 6.10.3 Bargaining Power of Suppliers
- 6.10.4 Degree of Rivalry
- 6.10.5 Threat of New Entrants
- 6.10.6 Threat of Substitutes
- 6.11 Key Success and Risk Factors
7 Performance of Key Regions
- 7.1 Western Europe
- 7.1.1 Market Trends
- 7.1.2 Market Forecast
- 7.2 North America
- 7.2.1 Market Trends
- 7.2.2 Market Forecast
- 7.3 Eastern Europe
- 7.3.1 Market Trends
- 7.3.2 Market Forecast
- 7.4 Asia
- 7.4.1 Market Trends
- 7.4.2 Market Forecast
- 7.5 Latin America
- 7.5.1 Market Trends
- 7.5.2 Market Forecast
- 7.6 Middle East and Africa
- 7.6.1 Market Trends
- 7.6.2 Market Forecast
- 7.7 Australasia
- 7.7.1 Market Trends
- 7.7.2 Market Forecast
8 Performance by Distribution Channel
- 8.1 Supermarkets and Hypermarkets
- 8.1.1 Market Trends
- 8.1.2 Market Forecast
- 8.2 Convenience Stores
- 8.2.1 Market Trends
- 8.2.2 Market Forecast
- 8.3 Non-Grocery Retailers
- 8.3.1 Market Trends
- 8.3.2 Market Forecast
- 8.4 Others
- 8.4.1 Market Trends
- 8.4.2 Market Forecast
9 Competitive Landscape
10 Milk Chocolate Manufacturing Process
- 10.1 Product Overview
- 10.2 Detailed Process Flow
- 10.3 Various Types of Unit Operations Involved
- 10.4 Mass Balance and Raw Material Requirements
11 Project Details, Requirements and Costs Involved
- 11.1 Land, Location and Site Development
- 11.2 Construction Requirements and Expenditures
- 11.3 Plant Machinery
- 11.4 Machinery Pictures
- 11.5 Raw Materials Requirements and Expenditures
- 11.6 Raw Material and Final Product Pictures
- 11.7 Packaging Requirements and Expenditures
- 11.8 Transportation Requirements and Expenditures
- 11.9 Utilities Requirements and Expenditures
- 11.10 Manpower Requirements and Expenditures
- 11.11 Other Capital Investments
12 Milk Chocolate Manufacturing Plant: Loans and Financial Assistance
13 Milk Chocolate Manufacturing Plant: Project Economics
- 13.1 Capital Cost of the Project
- 13.2 Techno-Economic Parameters
- 13.3 Product Pricing and Margins Across Various Levels of the Supply Chain
- 13.4 Taxation and Depreciation
- 13.5 Income Projections
- 13.6 Expenditure Projections
- 13.7 Financial Analysis
- 13.8 Profit Analysis
14 Key Player Profiles
List of Figures
- Figure 1: Global: Milk Chocolate Market: Major Drivers and Challenges
- Figure 2: Global: Chocolate Market: Volume Trends (in Million Tons), 2017-2022
- Figure 3: Global: Chocolate Market: Value Trends (in Billion US$), 2017-2022
- Figure 4: Global: Chocolate Market: Breakup by Region (in %), 2022
- Figure 5: Global: Chocolate Market: Breakup by Product (in %), 2022
- Figure 6: Global: Chocolate Market: Breakup by Packaging (in %), 2022
- Figure 7: Global: Chocolate Market: Breakup by End-Use (in %), 2022
- Figure 8: Global: Chocolate Market: Share of Key Players (in %), 2022
- Figure 9: Global: Chocolate Market Forecast: Volume Trends (in Million Tons), 2023-2028
- Figure 10: Global: Chocolate Market Forecast: Value Trends (in Billion US$), 2023-2028
- Figure 11: Global: Milk Chocolate Market: Volume Trends (in Million Tons), 2017-2022
- Figure 12: Global: Milk Chocolate Market: Value Trends (in Billion US$), 2017-2022
- Figure 13: Milk Chocolate Market: Price Structure
- Figure 14: Global: Milk Chocolate Market: Average Price Trends (in US$/Ton), 2017-2022
- Figure 15: Global: Milk Chocolate Market Forecast: Average Price Trends (in US$/Ton), 2023-2028
- Figure 16: Global: Milk Chocolate Market: Breakup by Region (in %), 2022
- Figure 17: Global: Milk Chocolate Market: Breakup by Distribution Channel (in %), 2022
- Figure 18: Global: Milk Chocolate Market Forecast: Volume Trends (in Million Tons), 2023-2028
- Figure 19: Global: Milk Chocolate Market Forecast: Value Trends (in Billion US$), 2023-2028
- Figure 20: Global: Milk Chocolate Industry: SWOT Analysis
- Figure 21: Global: Milk Chocolate Industry: Value Chain Analysis
- Figure 22: Global: Milk Chocolate Industry: Porter's Five Forces Analysis
- Figure 23: Global: Milk Chocolate Market Forecast: Breakup by Region (in %), 2028
- Figure 24: Western Europe: Milk Chocolate Market: Sales Volume (in Tons), 2017 & 2022
- Figure 25: Western Europe: Milk Chocolate Market Forecast: Sales Volume (in Tons), 2023-2028
- Figure 26: North America: Milk Chocolate Market: Sales Volume (in Tons), 2017 & 2022
- Figure 27: North America: Milk Chocolate Market Forecast: Sales Volume (in Tons), 2023-2028
- Figure 28: Eastern Europe: Milk Chocolate Market: Sales Volume (in Tons), 2017 & 2022
- Figure 29: Eastern Europe: Milk Chocolate Market Forecast: Sales Volume (in Tons), 2023-2028
- Figure 30: Asia: Milk Chocolate Market: Sales Volume (in Tons), 2017 & 2022
- Figure 31: Asia: Milk Chocolate Market Forecast: Sales Volume (in Tons), 2023-2028
- Figure 32: Latin America: Milk Chocolate Market: Sales Volume (in Tons), 2017 & 2022
- Figure 33: Latin America: Milk Chocolate Market Forecast: Sales Volume (in Tons), 2023-2028
- Figure 34: Middle East and Africa: Milk Chocolate Market: Sales Volume (in Tons), 2017 & 2022
- Figure 35: Middle East and Africa: Milk Chocolate Market Forecast: Sales Volume (in Tons), 2023-2028
- Figure 36: Australasia: Milk Chocolate Market: Sales Volume (in Tons), 2017 & 2022
- Figure 37: Australasia: Milk Chocolate Market Forecast: Sales Volume (in Tons), 2023-2028
- Figure 38: Global: Milk Chocolate Market: Sales through Supermarkets and Hypermarkets (in Tons), 2017 & 2022
- Figure 39: Global: Milk Chocolate Market Forecast: Sales through Supermarkets and Hypermarkets (in Tons), 2023-2028
- Figure 40: Global: Milk Chocolate Market: Sales through Convenience Stores (in Tons), 2017 & 2022
- Figure 41: Global: Milk Chocolate Market Forecast: Sales through Convenience Stores (in Tons), 2023-2028
- Figure 42: Global: Milk Chocolate Market: Sales through Non-Grocery Retailers (in Tons), 2017 & 2022
- Figure 43: Global: Milk Chocolate Market Forecast: Sales through Non-Grocery Retailers (in Tons), 2023-2028
- Figure 44: Global: Milk Chocolate Market: Sales through Other Distribution Channels (in Tons), 2017 & 2022
- Figure 45: Global: Milk Chocolate Market Forecast: Sales through Other Distribution Channels (in Tons), 2023-2028
- Figure 46: Milk Chocolate Manufacturing: Detailed Process Flow
- Figure 47: Milk Chocolate Manufacturing: Conversion Rate of Feedstocks
- Figure 48: Milk Chocolate Manufacturing: Breakup of Capital Costs (in %)
- Figure 49: Milk Chocolate Production: Manufacturing Cost Breakup (in %)
- Figure 50: Milk Chocolate Manufacturing Plant: Margins Across Various Stages of the Supply Chain
List of Tables
- Table 1: Global: Chocolate Market: Key Industry Highlights, 2022 and 2028
- Table 2: Global: Milk Chocolate Market: Key Industry Highlights, 2022 and 2028
- Table 3: Global: Milk Chocolate Market Forecast: Breakup by Region (in Tons), 2023-2028
- Table 4: Global: Milk Chocolate Market Forecast: Breakup by Distribution Channel (in Tons), 2023-2028
- Table 5: Global: Milk Chocolate Market: Competitive Structure
- Table 6: Milk Chocolate Manufacturing Plant: Raw Material Requirements (in Tons/Day)
- Table 7: Milk Chocolate Manufacturing Plant: Costs Related to Land and Site Development (in US$)
- Table 8: Milk Chocolate Manufacturing Plant: Costs Related to Civil Works (in US$)
- Table 9: Milk Chocolate Manufacturing Plant: Machinery Costs (in US$)
- Table 10: Milk Chocolate Manufacturing Plant: Raw Material Requirements (in Tons/Day) and Expenditures (US$/Ton)
- Table 11: Milk Chocolate Manufacturing Plant: Costs Related to Utilities (in US$)
- Table 12: Milk Chocolate Manufacturing Plant: Costs Related to Salaries and Wages (in US$)
- Table 13: Milk Chocolate Manufacturing Plant: Costs Related to Other Capital Investments (in US$)
- Table 14: Milk Chocolate Manufacturing Plant: Capital Costs (in US$)
- Table 15: Milk Chocolate Manufacturing Plant: Techno-Economic Parameters
- Table 16: Milk Chocolate Manufacturing Plant: Taxation (in US$)
- Table 17: Milk Chocolate Manufacturing Plant: Depreciation (in US$)
- Table 18: Milk Chocolate Manufacturing Plant: Income Projections (in US$)
- Table 19: Milk Chocolate Manufacturing Plant: Expenditure Projections (in US$)
- Table 20: Milk Chocolate Manufacturing Plant: Cash Flow Analysis Without Considering the Income Tax Liability (in US$)
- Table 21: Milk Chocolate Manufacturing Plant: Cash Flow Analysis on Considering the Income Tax Liability (in US$)
- Table 22: Milk Chocolate Manufacturing Plant: Profit and Loss Account (in US$)
