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Emerging Chocolate Market Trends: Finest Chocolate With Cutting-Edge Cocoa Finesser Technology Shaping the Future of the Industry
Chocolate Market Size
Chocolate Market Size Growth Forecast: What to Expect by 2025?
The size of the chocolate market has consistently expanded over the past few years. It is projected to rise from $140.97 billion in 2024 to $147.09 billion in 2025, with a 4.3% Compound Annual Growth Rate (CAGR). The historical growth is associated with factors such as the cultural relevance of chocolate, global reach and availability, marketing and branding strategies, increased discretionary income, product novelty and diversity, and the custom of giving chocolates as gifts.
How Will the Chocolate Market Size Evolve and Grow by 2029?
Consistent expansion is anticipated in the chocolate market over the foroming years, with a prediction of reaching $176.92 billion by 2029. This increase, at a compound annual growth rate (CAGR) of 4.7%, can be credited to various factors such as premium and artisanal offerings, ethical and sustainable procurement methods, innovative chocolate formats, functional components and claims, as well as global economic trends. The period forecast introduces a handful of key trends including the inclusion of nutritious and functional ingredients, innovative infusion and flavor mixtures, customization and personalization, digitization in marketing and sales strategy, and a shift towards dark chocolate and healthier substitutes.
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What Drivers Are Propelling the Growth of Chocolate Market Forward?
The growth of the chocolate confectionery market is anticipated to surge due to increased chocolate consumption. The term chocolate consumption relates to the quantity of chocolate consumed by an individual or population over a specific period. Chocolate is enjoyed by people across all age groups, and its growing consumption will aid chocolate confectioneries in producing more chocolate-based products. For example, in March 2023, data from the National Confectioners Association (NCA), an American trade body advocating for chocolate, candy, gum, and mint, unveiled that the total chocolate sales for 2022 amounted to $18.2 billion, marking a 9.1% growth from the year before. Moreover, the total chocolate sales in 2022 reached $23.9 billion. Thus, the rising consumption of chocolate is propelling the advancement of the chocolate confectionery market into the future.
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Which Emerging Trends Are Transforming the Chocolate Market in 2025?
The emergence of product innovations is a prominent trend being observed in the chocolate confectionery industry. Major firms in this sector are striving to retain their market standing by introducing innovative products. For instance, Fabelle, an ITC Limited brand that is based in India and specializes in the manufacture of luxury chocolates, unveiled Fabelle Finesse, which is hailed as the world's finest chocolate in November 2022. A revolutionary technological development by ITC titled the Cocoa Finesser now enables Fabelle to produce chocolate as thin as seven microns. This technique allows for the reduction of the chocolate particle size to a new record low, which is unattainable via only the standard refining procedure.
What Are the Key Segments in the Chocolate Market?
The chocolate market covered in this report is segmented -
1) By Type: Milk Chocolate, Dark Chocolate, White chocolate
2) By Category: Premium, Seasonal, Everyday
3) By Distribution Channel: Super markets And Hyper markets, Convenience Stores, Pharmaceutical And Drug Stores, Specialty Stores, Duty-Free Stores, E-commerce, Other Distribution Channels
Subsegments:
1) By Milk Chocolate: Standard Milk Chocolate, Milk Chocolate With Additives
2) By Dark Chocolate: Bittersweet Dark Chocolate, Semi-Sweet Dark Chocolate, Unsweetened Dark Chocolate
3) By White Chocolate: Standard White Chocolate, White Chocolate With Additives
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Who Are the Key Players Shaping the Chocolate Market's Competitive Landscape?
Major companies operating in the chocolate market include Barry Callebaut, The Hershey Company, Nestle SA, Mars Incorporated, Lotte Corporation, Mondelez International Inc., Chocoladefabriken Lindt & Sprüngli AG, Ferrero SpA, Lake Champlain Chocolates, Cémoi Group, Olam International Limited, Koninklijke DSM N.V., Kerry Group PLC, Delfi Limited, Tate & Lyle PLC, Meiji Holdings Co. Ltd., Ezaki Glico Co. Ltd., Crown Confectionery Co. Ltd., Haribo GmbH & Co. KG, Arcor Group, Moonstruck Chocolate Company, Blommer Chocolate Company, Patric Chocolate LLC, Perugina S.p.A., TCHO Ventures Inc., Theo Chocolate Inc., Thorntons Limited, Alter Eco Americas PBC, Endangered Species Chocolate LLC, Divine Chocolate Limited, Green & Black's Limited, Guylian NV
What Geographic Markets Are Powering Growth in the Chocolate Market?
Europe was the largest region in the chocolate confectionery market in 2024. The regions covered in the chocolate confectionery market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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