openPR Logo
Press release

Demand of Chocolate Market 2024

The chocolate market registered a value of US$ XX Bn in 2016. During a five-year forecast period 2016-2024, the global market for chocolate is expected to witness a robust CAGR. A host of trends and opportunities that are currently driving the market are slated to shape up the market condition during the forecast period.

Chocolate is one of the most profitable components of the confectionary industry globally. The chocolate industry has been representing a multibillion dollar market since the past decade and is expected to reach new levels of growth within the next few years. Rising awareness about health benefits of consuming a chocolate on a daily basis, will remain a key booster to the global chocolate market over the next few years.

While developed countries represent established and thriving markets for chocolate, a shift in consumer taste preferences and rising spending on chocolate and other confectionary products are identified to be the major drivers to market growth, prominently in developing countries. Increasing urbanization and widespread availability of chocolate and derived products will remain another key factor fueling the market for chocolate globally.

Antioxidants-enrichment, blood pressure-suppressing character, and supposedly anti-aging properties of chocolate will remain the key factors propelling adoption of chocolate and chocolate products. Dark chocolate that contains a larger proportion of cocoa is especially recommended to prevent or slow down aging and certain diseases, such as CVDs. These and more similar perceived benefits of chocolate will continue to drive demand for chocolate in the global market.

A few recent research findings indicate that chocolate consumption aids in looking younger as well as relieving stress, which are expected to further push the demand for chocolate. A sweeping range of new applications of chocolate in food and confectionary products are anticipated to escalate the demand, whereas wide acceptance of chocolate-flavored milk, drinks, bakery products, ice creams, functional foods, and liquor chocolates will sustain the demand throughout the next four years.

Chocolates are still largely considered as an affordable luxury in some regions of the globe. Price-sensitivity may detain the penetration of chocolate market in some of the underdeveloped parts of the world. Moreover, the uncertain economy of the cocoa supply is likely to raise chocolate prices, which is foreseen to be a major challenge to market growth.

Seasonal and festive sales of chocolate are projected to surge in the next few years. Gifting chocolate hampers and bouquets are among some popular consumer trends in market, which will strongly favor the market over the forecast period. In addition, lucrative growth opportunities lie in handmade chocolates and signature chocolate-based products.

Some niche products, such as chocolate drinks, fudge, mousse, rolls, and sandwich are identified to be attractive revenue generators. Moreover, a variety in gourmet chocolate is also expected to present significant opportunities in the global chocolate market. Development of organic and fair-trade chocolate may completely change the market dynamics over 2016-2024

The global chocolate market is segmented on the basis of type and sale frequency.

By chocolate type, the market is classified as milk chocolate, dark chocolate, and white chocolate. Milk chocolate segment registered the largest market share in 2013, followed by dark chocolate.

Based on frequency of sale, the market is categorized as daily chocolate, premium chocolate, and seasonal chocolate. Daily chocolate, attributed to affordable price, has been a major segment over the years.

The global chocolate market is segmented on the basis of geography, into key four regions viz. North America, Europe, Asia Pacific, and rest of the world (RoW).

Presence of a large number of leading international chocolate brands and higher chocolate consumption will continue to account for the top market position of North America, especially the U.S. Europe will be another major market, led by the U.K. and Germany.

A sample of this report is available upon request @ http://www.persistencemarketresearch.com/samples/3107

APAC, predominantly China and India, is however expected to emerge at the fastest rate over 2016-2024. This growth is attributed to soaring influence of the Western lifestyle and awareness about health benefits of chocolate. Seasonal and festive sales are likely to hold a strong foothold in developing Asian economies, such as India.

Request to view table of content @ http://www.persistencemarketresearch.com/toc/3107

Some of the key players participating in the global chocolate market, include Nestle SA, Fererro Group, Hershey Foods Corporation, Mondelez International (Cadbury), Mars Inc, Meiji Co Ltd, August Storck KG, Ezaki Glico Co. Ltd. and Arcor. A few other notable companies are Kraft Foods, Moonstruck Chocolatier Co., and Ghirardelli Chocolate Co.

About Us

Persistence Market Research (PMR) is a third-platform research firm. Our research model is a unique collaboration of data analytics and market research methodology to help businesses achieve optimal performance.

To support companies in overcoming complex business challenges, we follow a multi-disciplinary approach. At PMR, we unite various data streams from multi-dimensional sources. By deploying real-time data collection, big data, and customer experience analytics, we deliver business intelligence for organizations of all sizes.

Contact Us

Persistence Market Research
305 Broadway
7th Floor, New York City,
NY 10007, United States,
USA – Canada Toll Free: 800-961-0353

Email: sales@persistencemarketresearch.com
Web: http://www.persistencemarketresearch.com

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Demand of Chocolate Market 2024 here

News-ID: 486879 • Views:

More Releases from Persistence Market Research

Liquid Ring Vacuum Pump Market Innovations, Efficiency, and Emerging Trends Powering Industrial Vacuum Solutions
Liquid Ring Vacuum Pump Market Innovations, Efficiency, and Emerging Trends Powe …
The liquid ring vacuum pump market is witnessing robust growth as industries increasingly seek efficient, reliable, and cost-effective vacuum solutions. Liquid ring vacuum pumps, known for their ability to handle wet and corrosive gases, are widely used in chemical processing, pharmaceuticals, pulp and paper, food and beverage, and power generation sectors. The global liquid ring vacuum pump market size is likely to be valued at US$ 1,371.6 Mn in 2025
Molecular Spectroscopy Market Driven by Expanding Applications Across Pharmaceuticals
Molecular Spectroscopy Market Driven by Expanding Applications Across Pharmaceut …
The global molecular spectroscopy market is projected to witness significant expansion over the next several years, with forecasts indicating a compound annual growth rate (CAGR) of 7.2% between 2023 and 2030. The market value is expected to rise from US$6.5 billion in 2023 to an estimated US$10.6 billion by the end of 2030, reflecting strong demand across diverse industrial applications. The historical performance from 2018 to 2022 highlights steady growth
High Speed Steel (HSS) Metal Cutting Tools Market Innovations, Precision Engineering, and Emerging Trends Driving Industrial Machining
High Speed Steel (HSS) Metal Cutting Tools Market Innovations, Precision Enginee …
The High Speed Steel (HSS) metal cutting tools market is witnessing significant growth due to the increasing demand for efficient, precise, and durable machining solutions across diverse industries. HSS tools, renowned for their exceptional hardness, heat resistance, and versatility, are widely used in metal cutting applications including drilling, milling, turning, and threading. The global high speed steel (HSS) metal cutting tools market size is likely to be valued at US$
Medical Automation Market Expands as AI, Robotics, and IoT Drive Smarter Healthcare Systems
Medical Automation Market Expands as AI, Robotics, and IoT Drive Smarter Healthc …
The global medical automation market is poised for significant growth over the next decade, with projections indicating an expansion from US$48.7 billion in 2023 to US$84 billion by 2030, representing a robust compound annual growth rate (CAGR) of 8.1%. This growth trajectory reflects the increasing adoption of advanced automation technologies across healthcare facilities worldwide, driven by the rising demand for operational efficiency, precision in diagnostics, and enhanced patient care. Get a

All 5 Releases


More Releases for Chocolate

Bean-to-bar Chocolate Market Players Gaining Attractive Investments: Dandelion C …
The Latest Study Published by HTF MI Research on the "Bean-to-bar Chocolate Market'' evaluates market size, trend and forecast to 2030. The Bean-to-bar Chocolate market study includes significant research data and evidences to be a practical resource document for managers and analysts is, industry experts and other key people to have an easily accessible and self-analysed study to help understand market trends, growth drivers, opportunities and upcoming challenges as well
Bean-to-bar Chocolate Market Outlook 2031 Findings By Key Players-Taza Chocolate …
𝐔𝐒𝐀, 𝐍𝐞𝐰 𝐉𝐞𝐫𝐬𝐞𝐲- According to 𝐌𝐑𝐈, the global Bean-to-bar Chocolate Market size in terms of revenue was valued at around USD XX.X billion in 2023 and is expected to reach a value of 𝐔𝐒𝐃 𝐗𝐗.𝐗 𝐛𝐢𝐥𝐥𝐢𝐨𝐧 𝐛𝐲 𝟐𝟎𝟑𝟏, growing at a 𝐂𝐀𝐆𝐑 𝐨𝐟 𝐫𝐨𝐮𝐠𝐡𝐥𝐲 𝐗𝐗.𝐗% 𝐟𝐫𝐨𝐦 𝟐𝟎𝟐𝟒 𝐭𝐨 𝟐𝟎𝟑𝟏. The global Bean-to-bar Chocolate market is projected to grow at a significant growth rate due to several driving factors. The market for bean-to-bar chocolate is expanding significantly due
Chocolate Ingredients Market by Type (Milk, Cocoa, Lecithin, Flavors, Others), C …
Data Bridge Market Research analyses that the global chocolate ingredients market to account USD 9.20 billion by 2028 and growing at a CAGR of 4.25% in the forecast period of 2021-2028. Chocolate Ingredients market research report provides data and information about the scenario of ABC industry which makes it easy to be ahead of the competition in today's speedily altering business environment. Analytical study of this market report aids in formulating
Sea Salt Chocolate Market Seeking Excellent Growth | GODIVA, Skellings Chocolate …
The latest 125+ page survey report on Global Sea Salt Chocolate Market is released by HTF MI covering various players of the industry selected from global geographies like North America Country (United States, Canada), South America, Asia Country (China, Japan, India, Korea), Europe Country (Germany, UK, France, Italy), Other Country (Middle East, Africa, GCC). A perfect mix of quantitative & qualitative Market information highlighting developments, industry challenges that competitors are
Milk Chocolate Market ||Ezaki Glico, Kinder Chocolate, Blommer Chocolate, Godiva …
Zion Market Research published a new 110+ pages industry research "Global Milk Chocolate Market Is Expected To Reach Around USD 90.65 Billion By 2025" is exhaustively researched and analyzed in the report to help market players to improve their business tactics and ensure long-term success. The authors of the report have used easy-to-understand language and uncomplicated statistical images but provided thorough information and detailed data on the Global Milk Chocolate
Dark Chocolate Market By Type (70% Cocoa Dark Chocolate, 75% Cocoa Dark Chocolat …
Global Dark Chocolate Market Analysis According to Verified Market Research, The Global Dark Chocolate Market was valued at USD 44.09 Billion in 2018 and is projected to reach USD 83.34 Billion by 2026, growing at a CAGR of 8.26% from 2019 to 2026. What is Dark Chocolate? Dark chocolate is chocolate without milk solids added and has a more prominent chocolate taste than milk chocolate and hence the dark chocolate is more prone