Chocolate Market Size Worth USD 161.99 Billion in 2032 | Emergen Research

The global chocolate market size was USD 115.80 billion in 2022 and is expected to register a revenue CAGR of 3.4% during the forecast period. A recent market research report delves into the dynamics shaping the global chocolate market, revealing key drivers, trends, and challenges influencing industry growth. With an increasing demand for premium chocolates, rising awareness of the health benefits of dark chocolate, and a surge in innovations, the chocolate market is experiencing significant evolution.

Key Drivers of Chocolate Market Growth:

1. Dark Chocolate and Health Benefits: The report emphasizes the growing awareness of the health advantages associated with dark chocolate consumption. Rich in nutrients and antioxidants, dark chocolate is recognized for its potential to promote heart health and lower blood pressure.

2. Innovations in Chocolate Products: Market growth is further propelled by a wave of innovations in chocolate confectionery. From plant-based and vegan options to inventive textures and healthier ingredients, manufacturers are catering to consumer preferences for novel, sustainable, and nourishing products.

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Challenges in Chocolate Market:

Health Risks: Despite the health benefits, overconsumption of chocolate can pose risks, including gastric irritation and heartburn. The report underscores the importance of moderation to mitigate potential adverse effects on neurological, cardiovascular, and digestive systems.

Emerging Trends in Chocolate Market:

Preference for Premium Chocolates: There is a notable preference for premium chocolate products, driven by their distinctive attributes and high-quality ingredients. Consumers are increasingly drawn to premium chocolates for their indulgent experiences and superior flavor profiles.

Gifting Chocolate Hampers and Bouquets: A rising trend in the global chocolate market is the popularity of gifting chocolate hampers and bouquets. These curated assortments offer a personalized touch, making them ideal gifts for various occasions.

Segment Insights:

Chocolate Type: Traditional chocolates dominate the market, with dark, milk, and white chocolates appealing to diverse consumer preferences. Meanwhile, the artificial chocolate segment is poised for rapid growth, driven by advancements in flavor replication and health-conscious formulations.

Frequency of Sale: Premium chocolates lead in market share, highlighting the demand for high-quality, carefully crafted chocolate experiences. Conversely, daily chocolates cater to mass consumption with their accessible pricing and consistent flavor profiles.

Cocoa Content: Medium cocoa content chocolates are gaining traction, offering a balanced blend of antioxidants and flavor. On the other hand, chocolates with low cocoa content remain popular for their sweeter taste profile, despite containing fewer health-promoting compounds.

The comprehensive analysis presented in the report provides valuable insights for stakeholders in the chocolate industry, enabling them to capitalize on emerging opportunities and address evolving consumer preferences.

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Chocolate Top Companies and Competitive Landscape

The global chocolate market is moderately fragmented, with many large and medium-sized players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective chocolate solutions.

• The Kraft Heinz Company
• Nestle
• Moonstruck Chocolate
• Mars, Incorporated
• Ghirardelli Chocolate Company
• Ferrero
• THE HERSHEY COMPANY
• Mondelez United Kingdom
• Meiji Holdings Co., Ltd.
• Arcor
• Ezaki Glico Co., Ltd
• August Storck KG
• Barry Callebaut
• Lindt & Sprüngli AG
• Cargill, Incorporated
• Olam International Limited
• FUJI OIL CO., LTD
• ECOM Agroindustrial Corp. Limited.
• Cocoa Processing Company Limited (CPC)
• Touton S.A.

Chocolate Latest Industry News

• On 29 July 2022, Betterland Foods announced Creamy Nougat as the newest WOO flavor, the second SKU to be introduced under the layered chocolate bar line. Creamy Nougat is a blend of rich Fairtrade chocolate, creamy, cow-free nougat, and silky, smooth caramel. Perfect Day's animal-free whey protein is used to make WOO's fluffy nougat. The precision fermentation process used to make Perfect Day's proteins uses up to 99% less water and generates up to 97% fewer greenhouse gas emissions than regular dairy.

• On 10 January 2022, the German company Ritter Sport introduced a new vegan milk chocolate bar in its native country. With just a few basic ingredients, the new Vegan Pur Ohne Muh (which translates to "Vegan Pure Without Moo") chocolate bar replicates the flavor of milk chocolate without the use of any dairy products. The Cacao-Nica program, with which Ritter Sport has been collaborating for thirty years to support sustainable cocoa practices in Nicaragua, is the source of the cocoa used in the bar.

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Chocolate Market Segment Analysis

For the purpose of this report, Emergen Research has segmented global chocolate market on the basis of type, frequency of sale, cocoa content, distribution channels, product form, packaging type, and region:

• Type Outlook (Revenue, USD Billion; 2019-2032)
o Traditional
1. Milk Chocolates
2. Dark Chocolates
3. White Chocolates
o Artificial
o Others

• Frequency of Sale Outlook (Revenue, USD Billion; 2019-2032)
o Daily Chocolates
o Premium Chocolates
o Seasonal Chocolates

• Cocoa Content Outlook (Revenue, USD Billion; 2019-2032)
o Low Cocoa Content
o Medium Cocoa Content
o High Cocoa Content

• Distribution Channels Outlook (Revenue, USD Billion; 2019-2032)
o Supermarkets
o Hypermarkets
o Convenience Stores
o Specialty Chocolate Stores
o Online Retail (e-commerce)
o Others

• Product Form Outlook (Revenue, USD Billion; 2019-2032)
o Moulded
o Softlines/Selflines
o Countlines
o Others

• Packaging Type Outlook (Revenue, USD Billion; 2019-2032)
o Pouches and Bags
o Boxed Chocolate
o Others

• Regional Outlook (Revenue, USD Billion; 2019-2032)
o North America
1. U.S.
2. Canada
3. Mexico
o Europe
1. Germany
2. France
3. U.K.
4. Italy
5. Spain
6. Benelux
7. Rest of Europe
o Asia Pacific
1. China
2. India
3. Japan
4. South Korea
5. Rest of APAC
o Latin America
1. Brazil
2. Rest of LATAM
o Middle East & Africa
1. Saudi Arabia
2. UAE
3. South Africa
4. Turkey
5. Rest of MEA

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