According to the latest report by IMARC Group, titled “Chocolate Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025”, the global chocolate market grew at a CAGR of around 5% during 2014-2019. Chocolate, extracted from the roasted cacao seeds, is primarily used in confectioneries and bakery products. The surging demand for chocolates in the food and beverage industry is one of the major factors augmenting the market growth. Furthermore, the wide availability of chocolates in different forms, such as dark chocolate, chocolate syrup, milk chocolate, sprinkles, etc., also propels the product demand. Additionally, the rising popularity of molded chocolates in innovative solid shapes and sizes, further drives the market growth.
The chocolate market is currently being driven by several factors. Rising awareness among consumers towards the nutritional content and stress relieving ability of chocolate have catalyzed the demand in the region. Moreover, the advent of online retailing and e-commerce has propelled the chocolate manufacturers to expand their consumer-base and improve profit margins. Furthermore, chocolate is also preferred as a suitable gifting option which has bolstered its demand in the region. Moreover, the thriving food and beverages industry in the region uses chocolate in cakes, muffins, chocolate sauces, shakes, etc., further catalyzing its market growth.
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Competitive Landscape with Key Player:
- Arcor
- Barry Callebaut
- Chocoladefabriken Lindt & Sprüngli AG
- Chocolaterie Guylian
- Ferrero International
- Mars Incorporated
- Meiji Co. Ltd.
- Mondelez International Inc. (Kraft Foods)
- Moonstruck Chocolate Company
- Nestlé S.A.
- The Hershey Company
The changing consumer inclination towards newer chocolate variants infused with additional flavors is currently driving the product demand. Moreover, the rising consumer awareness towards several health benefits associated with dark chocolate, further bolsters the market growth. Besides this, the emergence of e-commerce has allowed chocolate manufacturers to conduct business-to-consumer operations, thereby expanding their consumer base. Additionally, changing tastes and preferences of the health-conscious consumers have led to the introduction of gluten-free chocolates in the market. Furthermore, the premiumization of chocolate-based products, along with the increasing penetration of innovative packaging, is further expected to boost the market growth.
Breakup by Product Type:
- White Chocolate
- Milk Chocolate
- Dark Chocolate
- Others
Breakup by Product Form:
- Molded
- Countlines
- Others
Breakup by Application:
- Food Applications
- Bakery Products
- Sugar Confectionery
- Desserts
- Others
- Beverage Applications
- Other Industrial Applications
Breakup by Pricing:
- Everyday Chocolate
- Premium Chocolate
- Seasonal Chocolate
Breakup by Distribution:
- Direct Sales (B2B)
- Supermarkets/Hypermarkets
- Convenience Stores
- Online Stores
- Others
Explore full report with table of contents and List of Figure: https://www.imarcgroup.com/prefeasibility-report-chocolate-manufacturing-plant
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