Truffle Chocolate Market: Current Analysis and Forecast (2022-2028)

The truffle chocolate market is expected to register a CAGR of approx. 4% over the period of 2022-2028. A chocolate truffle is a specific kind of chocolate confection that is traditionally made with a chocolate ganache center that is covered in chocolate, cocoa powder, coconut, or chopped and roasted nuts (typically hazelnuts or almonds), and is typically shaped in a spherical, conical, or curved shape. The increasing number of new product launches is one of the key drivers supporting the truffle chocolate market growth across the globe. Vendors are continuously releasing innovative products to broaden their customer base as a result of the increase in demand for truffle chocolates across a number of nations. For instance, Ferrero plans to pre-launch the new Ferrero Rocher Tablets in the travel-retail channel in September 2021 in collaboration with Lagardere. Ferrero enters the chocolate tablet market with the new product available in three flavors: milk, dark 55 percent cocoa, and white. Owing to the glaring statistics, consumption of chocolate due to the constant desire to try new ethnic flavors and tastes is increasing significantly and would contribute to the growth of the market in the forthcoming period as well. Furthermore, the truffle chocolate market is anticipated to grow on account of the growing demand from organized retail stores propelled by the rising number of offline sales stores. However, some of the restraints in the market including the stringent government regulations about quality standardization, and supply chain disruptions caused by the pandemic are impeding the growth of this market all over the world.

HAIGH'S CHOCOLATES, Barry Callebaut AG, Olam Cocoa Pte Ltd, ADM, Chocoladefabriken Lindt & Sprungli AG, Ferrero International, Ganache Chocolate Australia Pty. Ltd, Hauser Chocolates, Champlain Chocolate Co, Lolli and Pops Inc are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report:

"Amongst products, the boxed assortments-based truffle chocolate (BATC) category accounted for the significant share in the market in 2020"

Based on the products, the truffle chocolate market is segmented into boxed assortments-based truffle chocolate (BATC) and seasonal-based truffle chocolate (STC). The boxed assortments-based truffle chocolate (BATC) segment accounted for a significant market share and it is estimated that it will grow rapidly during the projected timeframe. The demand for boxed assorted truffle chocolate is gaining traction, as vendors are offering such products with different flavors. In addition, vendors are offering innovative and fantasy figure boxes, which are attracting more consumers.

"Amongst design, the spherical truffle chocolate category is expected to witness considerable CAGR during the forecast period"

Based on the design, the market is fragmented into spherical truffle chocolate, conical truffle chocolate, and others. The spherical truffle chocolate segment grabbed a considerable market share, and it is expected to grow at a significant CAGR during the forecast period because spherical truffles are easy to eat and easy to dissolve in the mouth.

"Amongst end-users, the offline category is expected to witness considerable CAGR during the forecast period"

Based on the end-users, the market is fragmented into online and offline. The offline segment grabbed a considerable market share, and it is expected to grow at a significant CAGR during the forecast period owing to the increasing number of retail shops and ease of availability.

"Asia Pacific to witness significant growth during the forecast period"

For a better understanding of the market dynamics of the truffle chocolate market, a detailed analysis was conducted for different regions across the globe including North America (the U.S, Canada, and the Rest of North America), Europe (Germany, France, Spain, United Kingdom, Italy, and Rest of Europe), Asia-Pacific (China, India, Australia, Japan, and Rest of APAC), Rest of World has been conducted. The Asia Pacific constitutes a major market for the truffle chocolate industry owing to due to the region's tremendous popularity and substantial consumption of chocolate, rising consumption of waffles and pitas prepared with chocolate spreads.

Reasons to buy this report:

The study includes market sizing and forecasting analysis validated by authenticated key industry experts.

The report presents a quick review of overall industry performance at one glance.

The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.

Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.

The study comprehensively covers the market across different segments.

Deep dive regional level analysis of the industry.

Customization Options:

Global truffle chocolate market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.