Chocolate Market Expanding at a CAGR of 5% during 2021-2026
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.
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Global Chocolate Market Trends:
The global market is primarily driven by considerable growth in the food and beverages sector. This can be accredited to the inflating disposable income levels of the masses and their shifting dietary preferences, which has contributed to a rise in the consumption of ready-to-eat bakery and confectionery products, wherein chocolate is commonly utilized as an indispensable ingredient. The market is further driven by the increasing awareness regarding the numerous health benefits associated with dark chocolates. These variants comprise soluble fibers and bioactive compounds while being a rich source of antioxidants. As a result, moderate consumption of cocoa-rich chocolates is known to lower blood pressure levels, improve brain functions and minimize the chances of developing cardiac diseases. Supported by the rising sales of chocolates through organized online and offline retail channels, this is expected to provide a thrust to the market growth. Some of the other factors contributing to the market include the growing prominence of sugar- and gluten-free chocolates among health-conscious consumers, the widespread popularity of chocolates as festive gifts and the increasing premiumization of chocolate-based products. On account of the aforementioned factors, the market is expected to grow at a CAGR of around 5% during the forecast period (2021-2026).
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Competitive Landscape with Key players:
The report has also analysed the competitive landscape of the market with some of the key players being.
Chocoladefabriken Lindt & Sprüngli AG
Meiji Co. Ltd.
Mondelez International Inc. (Kraft Foods)
Moonstruck Chocolate Company
The Hershey Company
Chocolate Market Segmentation:
Our report has categorized the market based on region, product type, product form, application, pricing and distribution.
Breakup by Product Type:
Breakup by Product Form:
Breakup by Application:
Breakup by Pricing:
Breakup by Distribution:
Direct Sales (B2B)
Breakup by Region:
North America (United States, Canada)
Europe (Germany, France, United Kingdom, Italy, Spain, Others)
Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
Market Performance (2015-2020)
Market Outlook (2021-2026)
Porter’s Five Forces Analysis
Market Drivers and Success Factors
Comprehensive Mapping of the Competitive Landscape
We are updating our reports, If you want latest primary and secondary data (2021-2026) with Cost Module, Business Strategy, Competitive landscape, etc. Click request free sample report, the report will be delivered to you in PDF format via email within 24 to 48 hours after the payment confirmation.
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