Chocolate Market To Reach USD 200.4 Billion By 2028

Global Chocolate Market is differentiated by Type of chocolates like, White Chocolate, Milk chocolate, Dark Chocolate, Convenience Store, Supermarket & Hypermarket, Online sales, Region, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2021 to 2028.

Global Chocolate Market:

The studies have proved that, the Global Chocolate Market is expected to grow from USD 138.5 Billion in 2020 and reach USD 200.4 billion by 2028.

One of the most significant trends that have positively impacted the growth of the chocolate market is the impulsive behaviour of the consumers or customer response.

The chocolate confectionaries operating at the department stores and supermarkets are most likely to attract the attention of the consumers waiting in the line. Attractive colours and packaging styles are used by the manufacturers to grasp the consumers and influence them into buying the chocolates.

The convenience foods sector, which includes cookies, ice creams and cakes use chocolate as their primary ingredient. The expansion of the convenience food sector has spiked the sales of chocolate. Chocolate and chocolate based products are the most consumed food all around the world.

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Consumption of chocolate in accurate quantity helps in boosting serotonin which calms the brain and helps as an anti-depressant. Also it lifts up the mood by releasing endorphins in the body. To best fit the occasion, chocolates come in all sizes and shapes.

Chocolate Industry is worth a Million-Dollar business and is still growing at a steady rate. In the recent years, Dark Chocolates has been in demand a lot as it helps in stress releasing.

Key Players in the Chocolate Market:

Some of the major key players in the global market for chocolate includes;

• Fererro Group
• Nestle S.A
• Mondelez International (Cadbury)
• Hershey Food Corporation
• Mars Inc
• August Storck KG
• Meiji Co Ltd.
• Arcor
• Ezaki Glico Co Ltd.
• Moonstruck Chocolatier Co
• Kraft Foods
• Ghiradeli Chocolate Co

Market Overview:

In 2020, the chocolate market saw an inclination towards the darker varieties of chocolate, as consumers preferred them over other varieties, for better health benefits such as, low level calories, and altering perception towards pre-immunization. Over the period of time, the global chocolate market will become highly competitive, with the coming of numerous leading players fighting for the major share. The increasing demand and growing popularity of dark and organic chocolates are hiking the market’s growth. Europe is the world’s largest share-holder of the global chocolate market. In Europe, Russia is the largest producer of chocolate, followed by Germany, United Kingdom, and France.

Economic Growth:

The Global Chocolate Market may witness a CAGR OF 4.5% in the forecast year of 2021-2026

• Study Period- 2016-2026
• Base Year- 2021
• CAGR- 4.5%

The Global Chocolate Market Segmentation:

By Chocolate Type

• Dark Chocolate
• White Chocolate
• Milk Chocolate

By Frequency of Sale

• Seasonal Chocolate
• Premium Chocolate
• Daily Chocolate

By Region

• Europe
• Asia Pacific
• North America
• Germany
• United Kingdom

Trend and Scope:

Some fine products, such as chocolate drinks, sandwich, mousse, fudge and rolls are known to be attractive revenue generators. However, a variety in gourmet chocolate might present significant opportunities in the global chocolate market. Enhancement of fair-trade and organic chocolate may completely change the market dynamics for 2016-2024. Seasonal and festive sales of chocolate will surge in the next few years. Gifting chocolate bouquets and hampers are some popular consumer trends in market.

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