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Milk Chocolate Market Research Report 2022-2029 | Milk Chocolate Industry Top Manufacturers, Global Business Insights, Size, Share, Developments and Forecast by 2022-2029
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List of players leading the Milk Chocolate Market include
Nestle
Mars Incorporated
Barry Callebaut
Mondelez International
GODIVA Chocolates
Meiji
Blommer Chocolate Company
Moonstruck Chocolate
Ferrero
The Hershey Company
The report states the chocolate bars and candies segments to hold the majority of shares in the market during the forecast period, based on form. This is attributable to the high preference for candies and bars by consumers. In addition, the fact that these milk chocolate forms are easily available is also prognosticated to promote the growth of these segments in the near future.
Advent of Variety of Flavors in Milk Chocolate to Drive Global Milk Chocolate Market
The global milk chocolate market is anticipated to witness progressive growth rate in the forthcoming years on account of the addition of value-added ingredients such as chocolate liquor, cocoa butter, high-quality milk, and others. The changing preference for taste is propelling consumers to invest in indulgence products made with healthier ingredients and innovative products. The prevailing trend of 'new and attractive' have resulted in a variety of milk chocolate flavors with colorful and attractive packaging is anticipated to promote market growth in the forecast period.
Moreover, with the increasing number of health problems worldwide irrespective of age, people are more conscious about their health. This propelled the demand for healthy products in milk chocolate such as low sugar content, use of dry fruits, almonds, and others. Thus, the introduction of healthy ingredients in milk chocolate is another factor anticipated to boost the global milk chocolate market in the long run.
Segmentation of the Global Milk Chocolate Market
By Form
Candies
Bars
Chocolate Coated Nuts
Chocolate Chips
Others
By Nature
Conventional
Organic
By Distribution Channel
Hypermarkets/Supermarkets
Retail Stores
Specialty Stores
Online Channels
Others
On the contrary, the fluctuating prices of organic milk chocolate and cocoa, a prime ingredient used for producing milk chocolates may cause hindrance to the global milk chocolate market growth in the coming years. In addition, the surge in consumer inclination towards dark chocolate products, a competitor may also challenge the milk chocolate market in the forecast period.
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Regional Overview:
High production and Consumption of Milk Chocolates to Help Europe and North America Hold Major Shares
Geographically, the market for milk chocolates is anticipated to hold major dominance in Europe, followed by North America. It is attributable to the high consumption and production of milk chocolate across the regions. Thus, these regions are expected to continue dominating the market in the forecast duration as well. Besides this, the presence of major milk chocolate giants such as Mondelez International, Nestle S.A., and others is also a strong factor in promoting the market in Europe and North America.
The increasing awareness about health benefits associated with the consumption of chocolates is anticipated to help the milk chocolate market in Asia Pacific register a rapid growth rate in the forecast duration.
Merger and Acquisition Strategies to Help Market Witness Exponential Growth
Companies are coming into collaborations in order to gain the maximum advantage of the market in the forecast duration. For instance, the global chocolate business of Archer Daniels Midland Co. was acquired by a major chocolate confectionery company Cargill in the year 2015. Other strategies adopted by market players such as Fuji Oil Holdings, Cargill Incorporated, and others include mergers and acquisitions, and product launches. As per Fortune Business Insights, the report highlights some of the major shareholders in the market. These companies are mentioned below:
Brach's Confection launched their Brach's milk chocolate double-dipped hazelnuts IN May 2019. Brach's Confection is known for its seasonal and traditional confections based in Illinois. Such innovations are anticipated to promote the growth of the global milk chocolate market, predicts Fortune Business Insights in their recent report.
SECONDARY DATA SOURCES THAT WE REFER TO:
Annual reports, investor presentation, SEC filings, and press releases of companies operating in the market.
Studies published by relevant associations (Institute of Food Technologists, Food and Drug Administration; Food and Agriculture Organization; Codex Alimentarius; etc.), government sources (World Bank; FoodDrinkEurope, Food Processing & Certification Bodies; etc.), international organizations (World Health Organization, The Organization for Economic Co-operation and Development, Eurostat, etc.), and articles published by Food Processing Magazine, Food Safety Magazine, ResearchGate, etc.
Website, reports, and press releases of end user facilities - Food and beverage manufacturers and food service providers.
Industry journals and paid databases.
Secondary Research is conducted to derive the following information:
Details such as revenues, market share, strategies, growth rate, product & their pricing by region/country for all major companies.
Details in relation to the parent market/related market, value and supply chain analysis, distribution channels, trade analysis, and recent technological developments.
Market dynamics in relation to the market under focus - Drivers, restraints, trends, and opportunities.
Market & technological trends and new product developments
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