Chocolate Retail Market Key Players, Size, Share, Demands, Trends, Value, Volume, Cost Analysis and Forecasts to 2023

The Global Chocolate Retail Market is expected to generate USD 176.20 billion by the end of 2028, up from USD 111.23 billion in 2021. As per European Union estimates, the world's average chocolate consumption amounts to an estimated 0.9 kg per capita per year. Chocolate retail has grown to be a multibillion-dollar industry, backed by rising per capita consumption of chocolate and chocolate products among all age groups.

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The report tracks competitive developments, strategies, mergers and acquisitions and new product development. The companies analyzed in the report include Mondelez International, Inc., Hershey Company, Ferrero International S.A., Mars Incorporated, Nestle S.A., Chocoladefabriken Lindt & Sprüngli AG, Meiji Holdings Co., Ezaki Glico Co. Ltd., Orion Corporation, Yildiz Holding.

The chocolate retail market refers to the industry that produces, distributes, and sells chocolate products to consumers. This includes a wide range of chocolate products, including chocolate bars, boxed chocolates, truffles, chocolate-covered nuts and fruits, and other chocolate confections.

The chocolate retail market is driven by several factors, including the increasing popularity of chocolate as a treat and gift item, the growth of the global confectionery industry, and the rise of specialty and premium chocolate products. Additionally, the expanding retail sector, especially online retail, has contributed to the growth of the market.

The market is also characterized by the growing trend towards sustainable and ethically sourced chocolate products. This includes the use of certified cocoa, such as Fairtrade or Rainforest Alliance certified cocoa, as well as the adoption of sustainable farming practices and fair labor standards in the cocoa industry.

Overall, the chocolate retail market is expected to continue to grow in the coming years, driven by factors such as the increasing demand for specialty and premium chocolate products, the expanding retail sector, and the adoption of sustainable and ethically sourced chocolate products. However, the industry may also face challenges such as rising cocoa prices, increasing health concerns among consumers, and growing competition from other confectionery products.

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