Crunchy Chocolate Market Outlook, Current Strategies by Top Companies: Nestle SA, Mars Inc., Ferrero Group, Неrѕhеу'ѕ'.

Crunchy chocolate market size is expected to reach $27,860.0 million by 2030, registering a CAGR of 5.1% from 2021 to 2030.

Increasing use of crunchy chocolate in coffee and smoothies and growing consumption of the chocolate owing to health benefits such as reducing cardiovascular diseases and improve blood flow and lower blood pressure are likely to accelerate the growth of the crunchy chocolate market.

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High-end product innovation, rise in disposable income of individuals, expansion of retail market, and surge in trend of gifting confectionery items drive the growth of the global crunchy chocolate market. On the other hand, rise in health awareness, fluctuating costs, and unavailability of raw materials restrain the growth to some extent. Nevertheless, increase in demand for organic and premium chocolates is expected to pave the way for lucrative opportunities in the industry.

Crunchy chocolate or wafer chocolate is mostly made by coating a piece of wafer with a layer of chocolate. However, sometimes nuts, fruits, cereals, etc. are also added along with a filling of delectable flavors such as honey, caramel and butterscotch to enhance its flavor.

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Numerous applications of the crunchy chocolate has been influencing its demand as crumbs and chunks of crunchy chocolate are used with beverages such as coffee and smoothies, or are used to make chocolate sandwiches. Premiumisation, thriving fast-food industry and expanding distribution channels are some of the other factors responsible for increasing crunchy chocolate market demand.

The outbreak of COVID-19 has negatively impacted crunchy chocolate market demand. This is attributed to the lockdown implemented across various countries. The pandemic has generated severe negative impacts on the economy as a whole as well as per capita income of individuals across the globe. According to the International Monetary Fund (IMF), the global growth is projected at -4.9% in 2020, with a drop of -8.0% in advanced economies and -3.0% in the emerging markets & developing economies. As numerous consumers have been living on reduced incomes or no incomes, their household expenditure has been restricted to essential purchases. Thus, reduced income, restriction on traveling and irregular supply raw material were majorly attributed for negative crunchy chocolate growth during COVID-19 pandemic period.

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According to the crunchy chocolate market analysis, the market is segmented into type, distribution channel, age group, price point and region. On the basis of type, the market is categorized into bar, toffee bites, truffles, balls and others. On the basis of distribution channel, the market is segmented into, supermarket/hypermarket, convenience stores, dollar stores, food services, duty-free outlets, e-commerce and others. By age group, market is categorized into, millennial, Gen A/Z and gen X/boomers. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain and Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Australia and Rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, Turkey and Rest of LAMEA).

The key market players analyzed in the global crunchy chocolate market report include Mars Inc., Mondelez International, Ferrero Group, Nestle SA, A. Loacker Spa, Неrѕhеу'ѕ, Pierre Hermé Paris Lindt & Spruengli AG, Yıldız Holding, and Maison Chaudun. These market players have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to brace their stand in the industry.

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