Global Chocolate Market Overview, 2020-2026

The growing attraction towards indulging chocolates in various forms such as bars, chips, solid shapes, and wafers have brought in market change of the region. Chocolates are being portrayed as more than a treat and are considered as a portable gifting option. Boxed chocolate collections have replaced flower bouquets, as it proves more value for money. With medical experts quoting chocolates to have health benefits, the region's customers demand for healthier options in their favourite dessert. This opened up a new scope for the marketers to develop variants such as organic, sugar free and energy bars. The rise in external players entering the market, renowned local marketers in the region have brought in modernization of the product and their supply chain. The developed impact of online retailing is a key factor that affected the distribution pattern of the market. The report titled "Global Chocolate Market Overview, 2021-2026" provides a complete performance analysis regarding the segments present in the global chocolate market along with its historical and forecasted analysis. Chocolates are considered the most popular as well as the most loved food and beverage products consumed by people of all age groups. Chocolates, been viewed as the major treat around the world, are highly supported by mass production after the advent of the industrial revolution. With the increasing popularity of consuming chocolates, its plantations have increased in the areas such as West Africa & South East Asia. Countries like Ghana, Nigeria, Brazil, Indonesia, etc. accounts for the world's largest cacao supply. Opportunities that are expected to change the dynamics of this industry are lower penetration in developing economies, organic and healthier chocolate, and the use of chocolate in the functional food menu. The global chocolate market has observed a rise in consumption as well as the production of chocolates. Regions like Europe, North America have highly contributed to this growth, whereas the Asia Pacific has been viewed as a promising market. This is due to the growing demand from countries like China, Japan, India, etc. At a global stage, countries like the United States, Germany, Switzerland, and Belgium are responsible for the major production of chocolates. Growth in the region's economy that is directly or indirectly affecting the people's lifestyle can be viewed as one of the factors driving its chocolate market. It is expected that for the forecasted period the Middle-East & African region will continue the trend with an even faster rate of above 9% CAGR till the year 2026. Nowadays people being conscious while choosing food products have provided the same approach while purchasing chocolates. Consumers seemed to be more tending towards the natural and organic ingredients in the chocolate. This habit of consumers has provided a positive effect on the dark chocolate segment of the market over the dominating milk chocolate products.

Growing attraction towards such healthy ingredients in chocolates has indirectly benefitted the premium segment of the chocolate market. Continuing the same trend, the dark chocolate segment is expected to pose a growth above 8% in the forecasted period. Purchasing such forms of confectionary items has highly accompanied by the strong sales of products through supermarkets and online markets, which is also been viewed as the prominent mode of distribution channel for chocolates. Major companies in the market Ferrero SPA, Cacau show, La Maison du Chocolat, Ezaki Glico Co, Meiji Holdings Co. Ltd, Lindt and Sprüngli AG, Mars Incorporated, Mondelez International, Morinaga & Co. Ltd, Hershey Company, Nestle S.A, Barry Callebaut, Godiva choclatier, Lotte, Confectionery, United Confectionery manufacturers Considered in this report • Geography: Global • Base year: 2020 • Estimated year: 2021 • Forecast year: 2026

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Manmayi Raval

Research Consultant

Aspects covered in this report • Global chocolate market with its value and forecast along with its segments • Region-wise chocolate market analysis Regions covered in the report • North America • Europe • South America • Asia-Pacific • Middle-East & Africa Types of chocolates in the report • Milk chocolate • Dark chocolate • White chocolate The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources.

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Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to chocolate industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry. Keywords: Global, North America, South, America, Europe, Middle East, Africa, Asia, Asia-Pacific, India, Japan, USA, Canada, Mexico, UK, Italy, France, Chocolate, Milk , Dark, White, Retailing, Organic, Natural, Everyday, Seasonal, Premium, Gourmet.