Impact of COVID-19 on the Chocolate Market Industry Overview, Top Manufactures, Market Size, Opportunities and Forecast by 2025

The global chocolate market grew at a CAGR of around 5% during 2014-2019. Looking forward, IMARC Group expects the market to continue its moderate growth during the next five years. Chocolate, extracted from the roasted cacao seeds, is primarily used in confectioneries and bakery products. The surging demand for chocolates in the food and beverage industry is one of the major factors augmenting the market growth. Furthermore, the wide availability of chocolates in different forms, such as dark chocolate, chocolate syrup, milk chocolate, sprinkles, etc., also propels the product demand. Additionally, the rising popularity of molded chocolates in innovative solid shapes and sizes, further drives the market growth.

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The changing consumer inclination towards newer chocolate variants infused with additional flavors is currently driving the product demand. Moreover, the rising consumer awareness towards several health benefits associated with dark chocolate, further bolsters the market growth. Besides this, the emergence of e-commerce has allowed chocolate manufacturers to conduct business-to-consumer operations, thereby expanding their consumer base. Additionally, changing tastes and preferences of the health-conscious consumers have led to the introduction of gluten-free chocolates in the market. Furthermore, the premiumization of chocolate-based products, along with the increasing penetration of innovative packaging, is further expected to boost the market growth.

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Breakup by Product Type:

White Chocolate
Milk Chocolate
Dark Chocolate
Others
Breakup by Product Form:

Molded
Countlines
Others
Breakup by Application:

Food Applications
Bakery Products
Sugar Confectionery
Desserts
Others
Beverage Applications
Other Industrial Applications

Breakup by Pricing:

Everyday Chocolate
Premium Chocolate
Seasonal Chocolate
Breakup by Distribution:

Direct Sales (B2B)
Supermarkets/Hypermarkets
Convenience Stores
Online Stores
Others
Breakup by Region:

North America
United States
Canada
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:

The report has also analysed the competitive landscape of the market with some of the key players being Arcor, Barry Callebaut, Chocoladefabriken Lindt & Sprüngli AG, Chocolaterie Guylian, Ferrero International, Mars Incorporated, Meiji Co. Ltd., Mondelez International Inc. (Kraft Foods), Moonstruck Chocolate Company, Nestlé S.A., The Hershey Company, etc.

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Note: As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

If you want to need latest primary and secondary data (2020-2025) with Cost Module, Business Strategy, Distribution Channel, etc. click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours of receiving full payment.

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