Chocolate Market Was Valued at USD 108.4 billion in 2021, the growth is attributed to the rise in awareness about the healthy benefits of dark chocolate

According to Precision Business Insights (PBI) latest report The Global Chocolate market is expected to be worth USD 114.6 Billion in 2022, growing at a 6.9% CAGR from 2022 to 2028. Global Chocolate Market is segmented into the following types: By Type (Milk/White Chocolate and Dark Chocolate), Distribution Channel (Supermarkets/ Hypermarkets, Specialist Retailers, Convenience Stores, Vending Machines, Online Channel, Variety Stores, and Others) and Geography (North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa) Forecast to 2028. Key player's profiles in the Chocolate market report are Mars Incorporated, Ferrero International SA, Mondalez International, The Hershey Company, Nestle SA, Yıldız Holding, Chocoladenfabriken Lindt & Sprungli AG, Grupo Arcor, Meiji Holdings Co. Ltd, Lake Champlain Chocolates. The rise in consumer awareness of the health benefits of cocoa-rich dark chocolates is propelling the global chocolate industry forward. Chocolate's appeal is expected to rise as a result of trend. Dark chocolate's popularity is likely to increase in the next years due to its ability to help avoid heart disorders, and other health issues, Moreover, the global chocolate industry is being driven by the new product launches by the manufacturers and the impulse purchasing behavior of consumers across age groups. In January 2022, Mondelēz International's brand Cadbury launched the Twist Wrap packaging solution for its Duos range, allowing consumers to snack in small portions by twisting and sealing the package after consuming half of the chocolate bar.

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Dark Chocolate Segment are Dominate the Chocolate Market:
The dark chocolate segment is expected to account for a larger revenue share in the global chocolate market and is projected to grow at significant CAGR over 2022 and 2028. Dark chocolate consumption has also been linked to a decreased risk of cardiovascular disease due to the presence of healthy fats and flavonoids, which are thought to help lower blood pressure and bad cholesterol levels. Chocolate intake has been proven in several observational studies to lower the risk of cardiovascular disease which is anticipated for the growth of the market.

North America Leads Chocolate Market:
Based on regional analysis, the market is divided into North America, Europe, Asia-Pacific, the Middle East and Africa, and South America. Due to shifting trends of indulging in sugar-free, fat-free chocolates because of increased health consciousness, Europe had the significant market share in 2021. Premium chocolates made from cocoa harvested sustainably from a single farm are in great demand. North America has experienced tremendous growth as a result of increased demand for chocolate confectionery items; it is also a big importer of cocoa to fulfill those demands. Due to rising disposable income in emerging nations and a shift in people's lifestyles inspired by western culture, the Asia-Pacific market is quickly expanding.

Strategic New Product Launches, Mergers, Acquisitions and Agreements are the key strategies adopted by market players:
Global Chocolate market further reveals that the key players increasingly adopting strategies such as launch of newer products, product launches, and long-term alliance to improve market revenue share and gaining significant geographic presence across the region. For instance, In September 2021, Ferrero pre-launched the new Ferrero Rocher Tablets into the travel-retail channel in partnership with Lagardère. The new product introduces Ferrero into the chocolate tablet category, available in three flavors: milk, dark 55% cocoa, and white.

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Detailed Segmentation:
Based on the By type, the market is segmented into the following:
• Dark Chocolate
• Milk and White Chocolate

Based on the By Product Type, the market is segmented into the following:
• Softlines/Selflines
• Countlines
• Molded Chocolates
• Other Product Types

Based on By Distribution Channel, the market is segmented into the following:
• Supermarkets/ Hypermarkets
• Specialist Retailers
• Convenience Stores
• Online Channel
• Other Distribution Channels

Based on Geography, the market is segmented into the following:
• North America
• Europe
• Asia Pacific
• Latin America
• MEA

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This release was published on openPR.