Chocolate Market To Witness Growth At A CAGR Of 4.1% During The Forecast Period Of 2022 To 2030
This report on the global industrial chocolate market details recent developments, trade regulations, import-export analysis, production analysis, value chain optimisation, market share, impact of domestic and local market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, ge Contact We Market Research for an Analyst Brief if you're interested in learning more about the industrial chocolate market. Our staff will assist you in making an informed choice to build your market.
As the industry grows and the variety of chocolate products grows, including sugar-free, organic, vegan, and gluten-free chocolates, more big businesses attempt to dominate the market by using cutting-edge strategies. Additionally, due to rising middle-class disposable income, growing consumer awareness of the health benefits of chocolates like dark chocolate, and these factors, manufacturers anticipate using innovative marketing and promotional strategies to boost chocolate sales in India during the forecast period. India in particular is experiencing a major change in tastes and preferences as chocolate takes on a prominent position in the market for sweets and confectionaries.
Because of this, there is an annual increase in the demand for chocolate, which is expected to drive the India Chocolate Market's growth. Another crucial factor boosting the chocolate industry is the sizeable young population of the nation, which represents a large market segment for chocolates. Two-thirds of Indians and half of the country's population are under the age of 35 at the moment. Other market-driving elements include evolving lifestyles, western influences, the growth of the food services sector, value addition, etc. These elements have led to the country's traditional sweets being supplanted by chocolates.
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Global Chocolate Market - Segmentation
The global chocolate market has been segmented into product type and distribution channel.
Based on product type, the market is segmented into,
Based on distribution channel, the market is been segmented into,
• Supermarket and Hyper Market
• Conventional Store
• Online Channels
Based on end use, the market has been segmented into,
Global Chocolate Market - Regional Analysis
It is estimated for the region of Asia Pacific to drive the growth of the market during the forecast period. The growing in the technological advancements in the food sector in the region is estimated to foster the growth of the market during the forecast period. The region of Europe is estimated to witness growth at a healthy rate during the forecast period. The US region is also estimated to witness a notable growth rate in the market.
Global Chocolate Market - Key Market players
Barry Callebaut, Chocoladefabriken Lindt & Sprüngli AG, Mondelēz International, Inc., Nestlé, The Hershey Company, Ferrero Group, Mars, Incorporated, The Australian Carob Co., Meiji Holdings Co., Ltd., and Arcor are the major players that are driving the growth of the market during the forecast period.
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Due to the fact that dark chocolate aids in the prevention of heart disorders and offers potential for additional uses like chocolate cake and chocolate milk in the global chocolate industry, its popularity is predicted to increase over the next years. Among the most consumed foods worldwide are chocolate and high-end chocolate products. Serotonin, a neurotransmitter that calms the brain and functions as an antidepressant, is found to rise when chocolate is consumed in moderation. In addition, it enhances mood by expelling pollutants. Chocolates come in a wide range of shapes, sizes, and packaging to best fit the occasion. An industry worth billions of dollars, chocolate is continually growing as new goods are created and promoted.
Acceptance of chocolate and products containing chocolate will continue to increase due to the antioxidant content, blood pressure-lowering properties, and purported anti-aging properties of chocolate. A higher cocoa content in dark chocolate is strongly advised for avoiding or slowing down the ageing process as well as various illnesses including cardiovascular disease. These and other similar potential benefits of chocolates are expected to boost chocolate consumption. On the other hand, shifting pricing for cocoa butter and beans, an unstable cocoa supply, and political unrest in nations that grow their own cocoa are likely to impede the expansion of the chocolate business.
Global Chocolate Market - Market Trends
• The increasing number of chocolate lovers around the globe coupled with the increasing use of chocolate in various arenas including that cold drinks, various food items, ice creams and so on are the factors that are estimated to boost the growth of the market during the forecast period.
• The health benefits associated with eating chocolates are also a factor that is estimated to boost the growth of the market during the forecast period.
• The population is being aware of the hazards associated with eating the chocolates such as the increase in sugar levels. And the increasing diabetic population around the globe is estimated to hinder the growth of the market during the forecast period.
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• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
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