Market Research Report
Global Chocolate Confectionery Market 2019-2023
|Published by||TechNavio (Infiniti Research Ltd.)||Product code||825215|
|Published||Content info||123 Pages
Delivery time: 1-2 business days
|Global Chocolate Confectionery Market 2019-2023|
|Published: April 8, 2019||Content info: 123 Pages||
The rapid premiumization in chocolate confectionery will foster the market growth in the upcoming years. Vendors in the market are focusing on launching innovative products with a premium appeal to tap into the huge potential offered by premium chocolate confectioneries. Premium chocolates often differ from standard and economy chocolates in terms of packaging, ingredients, brand appeal, and point of purchase. As a result, the rapid premiumization of confectionery chocolates in the US and the UK will drive the demand in the upcoming years. Technavio's analysts have predicted that the chocolate confectionery market will register a CAGR of close to 3% by 2023.
One of the growth drivers of the global chocolate confectionery market is the rising demand for organic, functional, vegan, and gluten-free chocolate confectioneries. The increasing product launches featuring organic, gluten-free, vegan, and functional chocolates is indicative of the growth of the vendors operating in the global chocolate confectionery market.
One of the challenges in the growth of the global chocolate confectionery market is the fluctuating prices of raw materials. High fluctuations in raw material prices hamper the production volume of the major players and adversely affect their profit margins.
For the detailed list of factors that will drive and challenge the growth of the chocolate confectionery market during 2019-2023, view our report.
The market appears to be moderately fragmented with the presence of several market players. Vendors in the market are focusing on introducing innovative packaging to make their products more appealing and increase their shelf life. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market's competitive landscape and offering information on the products offered by companies.