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Global Chocolate Market Growth Prospects, Future Industry Landscape 2032 | Barry Callebaut AG, Mondelez International Inc., Nestlé S.A., The Hershey Company, Ferrero Group
Chocolate Global Market Report
The Business Research Company's Chocolate Global Market Report 2023 identifies the 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. An increase in internet penetration for online sales is key to the market for online chocolate sales.
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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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.
A key trend in the Chocolate market includes the Product innovations are a key trend gaining popularity in the chocolate market. Major companies in the chocolate market are focusing on product innovations to strengthen their position in the market.
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The Chocolate market is segmented -
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.
The Business Research Company's "Global Chocolate Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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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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