Press release
Global Chocolate Market Growth Prospects, Future Industry Landscape 2032 | Barry Callebaut AG, Mondelez International Inc., Nestlé S.A., The Hershey Company, Ferrero Group
Chocolate Market
Chocolate Market Size, Growth Rate, And Forecast
The global chocolate market size is expected to grow from $129.04 billion in 2022 to $134.29 billion in 2023 at a compound annual growth rate (CAGR) of 4.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The chocolate market size is expected to grow to $155.52 billion in 2027 at a CAGR of 3.7%.
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Chocolate Market Drivers
Increasing internet penetration for online sales is expected to propel the growth of the chocolate market going forward. Internet penetration rate refers to the percentage of people who have access to the internet, as expressed by the number of internet users and the sales made through the internet. The internet has replaced retail and mail-order sales with online distribution and interaction channels, while social media platforms have provided the personal touch that the internet needed.
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Chocolate Market Segments
1) By Type: Milk Chocolate, Dark Chocolate, White Chocolate
2) By Application: Food, Beverages
3) By Distribution: Supermarkets/ Hypermarkets, Specialist Retailers, Convenience Stores, Online Channel, Other Distributions
By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Europe was the largest region in the Chocolate market.
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Chocolate Market Key Players
Major players in the chocolate market are Barry Callebaut AG, Mondelez International Inc., Nestlé S.A., The Hershey Company, Ferrero Group, Mars Incorporated, Meiji Holdings Co. Ltd., Arcor, Chocoladenfabriken Lindt & Sprungli AG, Ghirardelli Chocolate Co., Moonstruck Chocolatier Co., Chocolaterie Guylian, Moonstruck Chocolate Company, Lake Champlain Chocolates, and The Australian Carob Co.
The Business Research Company's "Global Chocolate Market Report 2023" is a comprehensive report of the market, covering over 60 geographies and high level market segmentation per geography. The section on regional and country breakdowns examines the market in each geography as well as market size by region and country. Furthermore, it evaluates the market's historical and projected growth and identifies significant trends and strategies that businesses can use to expand their operations.
The Table Of Content For The Chocolate Market Include:
1. Executive Summary
2. Chocolate Market Characteristics
3. Chocolate Market Trends And Strategies
4. Chocolate Market - Macro Economic Scenario
5. Chocolate Market Size And Growth
……
27. Chocolate Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Chocolate Market
29. Chocolate Market Future Outlook and Potential Analysis
30. Appendix
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