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: 625

More Releases from Persistence Market Research

The 4G LTE Devices Market To Witness An Innovative Statute
In terms of value, the global 4G (LTE) devices market is projected to register an astronomical CAGR of 16.7% during the forecast period of 2021 to 2031, owing to various factors, regarding which, Persistence Market Research offers vital insights in detail. The industry is anticipated to top a valuation of approximately US$ 185 Bn by the end of 2031. Request for Free Sample Report of "4G LTE Devices" Market@ https://www.persistencemarketresearch.com/samples/10466
Innovative Turmoil To Run Through The Sonobuoy Market
The global sonobuoy market is anticipated to grow from a valuation of US$ 324.7 Mn in 2021 to close to US$ 600 Mn by 2031, expanding at a CAGR of 6.3% in terms of revenue. In this revised report, the global market is tracked in terms of value and is calibrated to obtain market revenue estimates. Sonobuoys are acoustic sensors built on the principle of Sound Navigation and Ranging (SONAR) system,
The Imaging Technology For Precision Agriculture Market To Witness Germination O …
A recently revised study by Persistence Market Research has projected that demand for imaging technology for precision agriculture will rise at a notable CAGR of 8.8% during the forecast period of 2021 to 2031, by the end of which opportunities in the market are estimated to translate to a revenue of US$ 1.7 Bn. Analysts of the report have notified that the market for imaging technology in precision agriculture produced a
The Mobile Applications Market To Move Through Glossy Innovation
The global mobile applications market is currently valued at US$ 112.6 Bn, and is predicted to reach a worth of over US$ 307 Bn by the end of the forecast period (2021 - 2031). The market is projected to rise at a CAGR of 12.4% over the next ten years. Leading players operating in the global mobile applications market are Apple Inc., Google LLC, Samsung Electronics Co. Ltd., China Mobile Limited,

All 5 Releases