Turkey Chocolate Market, By Type, By Category (Tablets, Countline, Boxed Chocolates & Others, By Distribution Channel (Grocery Store, Supermarket & Hypermarket, Convenience Store, Online, By Region, Competition Forecast & Opportunities, 2017-2027

The Turkey chocolate market was worth USD311.19 million in 2021 and is expected to grow at a CAGR of 12.70% to reach USD628.34 million by 2027, on account of the growing young population and shifting consumer tastes. Moreover, chocolate confectionery is one of the most dynamic products in Turkey, owing to a variety of factors such as the increasing demand for chocolate with toys, developing distribution channels, manufacturers' heavy advertising, new product developments, and increasing multinational investments.

With the widespread availability of chocolate gifts in the market, the traditional religious celebrations of Ramadan and Eid have begun to emerge as peak times for selling boxed assortments. Indeed, Ramadan accounts for approximately 70% of sales of boxed assortments and boiled sweets. However, the COVID-19 cases increased in Turkey during Ramadan 2021, resulting in a partial two-week lockdown. As a result, sales of boxed assortments were down during this period. Despite this, manufacturers invested in e-commerce, increased distribution, and reduced unit prices to make them more affordable during Ramadan and Eid.

Less Sugar Demand Drives the Chocolate Industry

Helis Draje, a chocolate manufacturer in Turkey, stated that chocolate contains less sugar. It also contains general antioxidants from cocoa in its composition. The chocolate industry considers these sensitivities and consumer expectations by producing varieties with less sugar but more cocoa mass, natural sweeteners to be used instead of sugar, and daily adjustments with portion adjustments. The company provides options for easier intake control and works to educate the consumer with energy values and nutritional tables on the label. Also, since chocolate and candies are products that are consumed for pleasure rather than for nutrition or satiety, it is for this reason that its consumption is increasing in both Turkey and around the world.

Health Benefits of Dark Chocolate Driving the Growth of the Turkey Chocolate Market

Dark chocolate, which is significantly consumed, is made up of cocoa liquor and butter. Cocoa liquor is high in vitamins, minerals, pulp, and polyphenols. Cocoa butter, which adds softness and flavor to chocolate, is devoid of vitamins, minerals, and polyphenols. Furthermore, dark chocolate contains 50-85 percent cocoa, and milk chocolate contains 20-30 percent cocoa. Dark chocolate has also been linked to improved health due to its high concentration of flavonoids and catechins, which have antioxidant properties. Such factors are prompting consumers to purchase dark chocolate.

Innovative and Functional Chocolates with New Flavors Fueling the Market Growth

The demand for enriched and fortified products that will make a noticeable difference in the consumer's personal life and improve their quality of life is growing daily. Consumers are shifting their preferences toward protein bars that promote physical activity and chocolates containing turmeric, goji berry, blueberry, and rosemary, which include various vitamin and mineral complexes. For instance, a company like Betterland Foods is venturing into the candy aisle by introducing WOO chocolate bars made with Perfect Day's animal-free whey protein. The company offers products such as Caramel Peanut Nougat Bar, made up of organic chocolate, caramel, peanuts, and cow-free nougat, which contains 50% less sugar and double the protein of other chocolate bars. Such innovative offerings are anticipated to attract a consumer base and fuel the growth of the Turkey chocolate market.

Market Segmentation

The Turkey chocolate market is segmented based on product type, category, distribution channel, region, and competitional landscape. Based on product type, the market is further segmented into milk, dark and white chocolates. The category segment is further segmented into tablets, countline, boxed chocolate & others. The distribution channel is segmented into grocery stores, supermarket and hypermarket, convenience store, online, others. On the basis of regional analysis the market is divided into Marmara, Central Anatolia, Mediterranean, Aegean, Southeastern, Anatolia, Blacksea and Eastern Anatolia.

Company Profiles

Yildiz Holding A.S. (Turkey), Solen Cikolata Gida San.Ve Tic .A.S., Eti Gida A.S. (Turkiye), Nestle Turkiye Gida A.S., Kent GIda Maddeleri Sanayii ve Ticaret A.S, Ferrero Turkiye Cikolata ve Tarim Urunleri San ve Dis Tic AS, Elit Cikolata AS, Chocoladefabriken Lindt & Sprungli AG, Konya Seker San ve Tic AS, Konya Seker San ve Tic AS, Saray Biskuvi ve Gida Sanayi AS, etc company are some of the leading players in the Turkey chocolate market. New market players are also actively entering the market in the recent years and further strengthening the future market growth.

Report Scope:

In this report, Turkey Chocolate Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

• Turkey Chocolate Market, By Product Type:

Milk

Dark

White

• Turkey Chocolate Market, By Category:

Tablets

Countline

Boxed Chocolates

Others

• Turkey Chocolate Market, By Distribution Channel:

Grocery Store

Supermarket & Hypermarket

Convenience Store

Online

Others

• Turkey Chocolate Market, By Region:

Marmara

Central Anatolia

Mediterranean

Aegean

Southeastern Anatolia

Blacksea

Eastern Anatolia

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in Turkey Chocolate market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

• Detailed analysis and profiling of additional market players (up to five).