Press release
Hot Chocolate Market Forecasted for Major Expansion by 2031 | Cadbury, W.T Lynch Foods, Starbucks, Chocomize, Land O" Lakes
Hot Chocolate Market || 2024-2031
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What is the projected growth rate (CAGR) of the Global Hot Chocolate market from 2024 to 2031, and what is the market value expected to change by 2031?
The Global Hot Chocolate Market reached USD 3,789.2 million in 2022 and is projected to witness lucrative growth by reaching up to USD 5,771.2 million by 2031. The market is growing at a CAGR of 5.4% during the forecast period (2024-2031).
What is Hot Chocolate Market?
Hot chocolate is a warm beverage made by mixing cocoa powder or melted chocolate with milk or water, often sweetened with sugar. It can be served plain or enhanced with various ingredients such as vanilla, cinnamon, or whipped cream. Hot chocolate is typically enjoyed as a comforting drink, especially in colder months, and is popular in many cultures around the world.
Increased Demand for Flavored Hot Chocolate and the Growth of Coffee Shops to Drive Market Growth
The global hot chocolate market is experiencing growth driven by the rising popularity of flavored hot chocolate and the increasing number of coffee shops. Innovations in the industry, such as the use of cocoa powder infused with various flavors, are expected to further enhance market expansion during the forecast period. For example, on January 27, 2023, The Chocolate Professor launched new hot chocolate varieties that align with current confectionery trends, emphasizing reduced sugar, healthier ingredients, single-origin cacao, and clean ingredient lists devoid of artificial flavors and preservatives.
Key Players:
Profiles of some of the major players in the global Hot Chocolate market, which include:
Cadbury, W.T Lynch Foods, Starbucks, Chocomize, Land O" Lakes, Chek Hup Sdn. Bhd, The Hershey Company, Nestlé S.A., Swiss Miss, and GODIVA Chocolaiter.
Industry Development:
On January 3, 2023, Mondelez International launched the "Spectacularly Nice" promotion for its Cadbury Hot Chocolate range. This promotion will run for three months starting in mid-January and includes products such as 500g of Cadbury Drinking Chocolate, 400g of Instant Hot Chocolate, and 220g of Highlights Milk Chocolate.
On October 20, 2021, Lindt introduced its "Hot Chocolate Powder," marketed as a "velvety smooth and luxuriously creamy hot chocolate drink."
On September 15, 2022, Bevzilla unveiled a premium hot chocolate range sweetened with date palm jaggery. This Hot Chocolate Mix Range features a blend of chocolate, hazelnut, and cinnamon flavors, combined with the natural sweetness of date palm jaggery, allowing consumers to enjoy a rich chocolate experience without the need for added refined sugar.
The purpose of the report is to offer a comprehensive analysis of the market, along with insightful conclusions, statistical data, historical information, market data that has been confirmed by the industry, and predictions based on a sound methodology. By identifying and examining market segments and forecasting global market size, the study also contributes to understanding the dynamics and structure of the global Hot Chocolate market.
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Market Segments:
The report covers the segmentation of the market into different segments based on various classifications such as applications, end users, product types, and others. The segmentation is divided into two sections, one for development and the other for different roles, needs, and behaviours.
By Type: Original Taste, Flavor Taste
By Distribution Channel: Offline, Online
Regional Break out:
☞ North America - US, Canada, Mexico
☞ Europe- Germany, Russia, UK, France, Italy, Rest of Europe
☞ Asia Pacific- China, India, Japan, Australia, Rest of Asia Pacific
☞ South America- Brazil, Argentina, Colombia, Rest of South America
☞ Middle East and Africa- Saudi Arabia, UAE, Oman, Bahrain, Qatar, Kuwait, Israel
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Key Features:
➧ Gain deep insights into market dynamics, trends, and opportunities to stay ahead in a competitive landscape.
➧ Track competitor's movements in real time, allowing you to swiftly adapt strategies and remain competitive.
➧ Compare your performance with industry leaders to identify gaps, strengths, and areas for improvement.
➧ Stay updated with emerging market trends, technological advancements, and customer behaviour to refine your strategy.
➧ Receive actionable insights and recommendations to drive your business toward growth and long-term success.
➧ Tailor competitive intelligence to your unique business needs, ensuring relevant and focused analysis.
➧ Evaluate supply chain efficiency and logistics strategies to optimize operations and minimize disruptions.
➧ Understand key players, stakeholders, and partnerships to navigate the competitive landscape more effectively.
➧ Identify and target specific market segments with detailed intelligence on customer preferences and behaviours.
➧ Stay informed on regulatory changes and legal requirements impacting your industry to ensure compliance and mitigate risks.
Contact Us -
Company Name: DataM Intelligence
Contact Person: Sai Kiran
Email: Sai.k@datamintelligence.com
Phone: +1 877 441 4866
Website: https://www.datamintelligence.com
About Us -
DataM Intelligence is a Market Research and Consulting firm that provides end-to-end business solutions to organizations from Research to Consulting. We, at DataM Intelligence, leverage our top trademark trends, insights and developments to emancipate swift and astute solutions to clients like you. We encompass a multitude of syndicate reports and customized reports with a robust methodology.
Our research database features countless statistics and in-depth analyses across a wide range of 6300+ reports in 40+ domains creating business solutions for more than 200+ companies across 50+ countries; catering to the key business research needs that influence the growth trajectory of our vast clientele.
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