Chocolate Market Crosses USD 421 Billion in 2023, Envisions 4.7% CAGR Surge Up to 2030

Market Overview: Chocolate Market

MarkNtel Advisors, leading consulting, data analytics, and market research firm that provides an extensive range of strategic reports on diverse industry verticals. Recently published a report on Chocolate Market and provide your business with the latest market trends and analysis from our reports to make informed decisions and stay ahead of the competition.

Chocolate Market Insights 2024-30

The Chocolate Market is estimated to grow at a CAGR of around 4.7% during the forecast period 2024-30.

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Driving Innovation: Exploring the Chocolate Market and its Key Drivers

Global Chocolate Market Driver: High Inclination Towards Specialty Chocolates to Thrive the Market Growth

In recent years, a notable surge in demand for premium and specialty chocolates, particularly in well-developed markets like the US, France, Belgium, and Germany, has been observed, significantly contributing to the Chocolate Market’s growth. One primary driver behind this surge is the increasing consumer preference for transparency in ingredient sourcing for chocolates. This preference stems from various factors, including allergies to specific components like lactose and a rising interest in vegan-friendly options. Additionally, there’s a rising demand for chocolates made from specialty cocoa beans, fostering the growth of specialty chocolates.

Another emerging trend boosting demand is the preference for clean-label and organic products, driven by a growing emphasis on overall health and wellness. This trend has notably increased the demand for dark and sugar-free chocolates.

Top Players in the Chocolate Market:

Ghirardelli Chocolate Co, Ferrero Group, Mars Inc, Hershey Foods Corp, Moonstruck Chocolatier Co, Barry Callebaut, Nestle SA, Amul, Cadbury, and others

Chocolate Industry Recent Development:

• 2022: Hershey’s introduced a special chocolate bar honoring women and girls, named “Celebrate SHE.” The bar’s design featured the word ‘SHE’ at the heart of its milk chocolate composition.
• 2021: In collaboration with Lagardère, Ferrero introduced ‘Ferrero Rocher Tablets’ to the travel-retail channel.

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Segmentation Analysis of Chocolate Market

Chocolate Market exactly assesses and highlights significant trends and influencing factors within each segment. The comprehensive analysis extends its predictions for the period spanning 2024-30, focusing on the national landscape. The market is exactly categorized based on this analysis, providing valuable insights into its various facets.

By Chocolate Type

-Milk Chocolate

-White Chocolate

-Dark Chocolate

• The Dark Chocolate category secured the leading market share in 2022 and is anticipated to maintain its dominance in the coming forecast years.

By Packaging Type

-Molded Bars

-Chips & Bites

-Box Assortments

-Chocolate Truffles

By Application

-Food & Beverages Industries

-Bakery

–HoReCa

–Retail Consumption

By Category

-Synthetic Chocolates

-Organic Chocolates

By Sales Channel

-Offline

–Supermarkets & Hypermarkets

–Convenience Stores

–Brand Owned Outlets

-Online

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A Comprehensive Geographical Analysis:

By Region

-North America

-South America

-Europe

-The Middle East & Africa

-Asia-Pacific

• Europe is predicted to dominate the Global Chocolate Market in the upcoming years.

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MarkNtel Advisors is a leading consulting, data analytics, and market research firm that provides an extensive range of strategic reports on diverse industry verticals. We being a qualitative & quantitative research company, strive to deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, and individuals, among others.

We have our existence across the market for many years and have conducted multi-industry research across 80+ countries, spreading our reach across numerous regions like America, Asia-Pacific, Europe, the Middle East & Africa, etc., and many countries across the regional scale, namely, the US, India, the Netherlands, Saudi Arabia, the UAE, Brazil, and several others.

Being one of the most efficient market research companies in India, our specialized team of experienced & efficient market research professionals is capable of grasping every minute and valuable information & data of the market to offer our clients with satisfactory details. Our company has served the biggest market research firms in India at leading positions and is proficient in managing all types of market research projects.

About Us 

MarkNtel Advisors is a leading market research company, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others. 

Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals. 

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