List of Figures
Figure 1: Spain Chocolate Market Size By Value 2016 to 2027F (In USD Billions)
Figure 2: Spain Chocolate Market Share By Type (2016, 2021 & 2027F)
Figure 3: Spain Chocolate Market Share By Application (2016, 2021 & 2027F)
Figure 4: Market Attractiveness Index, By Type
Figure 5: Market Attractiveness Index, By Application
Figure 6: Market Attractiveness Index, By Sales Channel
Figure-7: Porter's Five Forces Meter By Spain Chocolate Market
List of Table
Table 1: Spain Geographic Details (2020)
Table 2: Spain Chocolate Market Share By Sales Channel (2016,2021, 2027F)
Table 3: Spain Chocolate Market Size of Dark Chocolate (2016 to 2027F) (in USD Billion)
Table 4: Spain Chocolate Market Size of White Chocolate (2016 to 2027F) (in USD Billion)
Table 5: Spain Chocolate Market Size of Milk Chocolate (2016 to 2027F) (in USD Billion)
Table 6: Spain Chocolate Market Size By Everyday (2016 to 2027F) (in USD Billion)
Table 7: Spain Chocolate Market Size By Seasonal / Gift Box (2016 to 2027F) (in USD Billion)
Table 8: Spain Chocolate Market Size By Supermarket & Hypermarket (2016 to 2027F) (in USD Billion)
Table 9: Spain Chocolate Market Size By Convenience Stores (2016 to 2027F) (in USD Billion)
Table 10: Spain Chocolate Market Size By Online (2016 to 2027F) (in USD Billion)
Table 11: Spain Chocolate Market Size By Others (2016 to 2027F) (in USD Billion)
Table 12: Key Facts By Company 1
Table 13: Key Facts By Company 2
Table 14: Key Facts By Company 3
Table 15: Key Facts By Company 4
Table 16: Key Facts By Company 5
After the industrial revolution, chocolate was viewed as the major treat for the world's large population, aided by mass production. Chocolate is savoured by all ages as it refreshes the mind and relaxes the mood. In the early days, chocolate was just consumed solely but now-a-days it has become a medium that enhances many food products with taste and new variety. Chocolate's popularity among the population is driven by the increased disposable incomes and self-indulgent products. The introduction of dark chocolates and ruby chocolates by major manufacturers is expected to further propel demand. The rising trend of gifting chocolates on special days, occasions, or festivals is also becoming a major contributing factor to the rising sales of chocolates during certain periods of time. The emerging trend of organic products to maintain health has propelled demand for dark chocolates and sugar-free chocolates. However, the rise in the price of cocoa beans have forced chocolate makers to substitute them to palm oil, soybean oil, Shea, rapeseed oil and other ingredients that makes it efficient enough for the society.
According to the research report "Spain Chocolate Market Overview, 2027" published by Bonafide Research, it is expected that the chocolate market will grow rapidly over the forecast period. The major driving force is an increase in the demand for dark chocolates, as consumers are inclined towards healthy eating habits. Milk chocolates will be less popular in the future than dark or white chocolates. The key chocolate players are actively pondering launching new products and expansion. Countries like Ghana, Nigeria, Brazil, Indonesia, etc. account for the world's largest cacao supply. Unique products with the inclusion of natural and organic ingredients have let consumers come back for more. The production of cocoa beans is highly affected due to increased uncertain weather as it requires a hot and humid climate to grow, which acts as a market restraint. Box chocolates have been viewed as a growing trend in the chocolate market in the last couple of years. From bean to bar implies that the creator controls each progression of the creation procedure, from purchasing the cocoa beans to the formation of the chocolate bar. The 3D printing era has made sure that the chocolate market has taken a completely new level and has impacted the chocolate industry.
Dark chocolates are the healthiest of all chocolate types. Creating a balanced relationship with dark chocolate have a significantly positive impact on overall health. Dark chocolate contains powerful antioxidants. Epicatechin flavanols are compounds found in plants that fight inflammation and protect against cell damage caused by free radicals. Increases heart health, reduces blood pressure, and increases blood circulation to the heart, thus lowering the risks of stroke. It balances the immune system caused by cells fighting against free radicals, which are a common cause of many diseases. Combats diabetes by making better use of insulin and enhances brain function by improving reaction time, visual-spatial awareness, and memory boosts athletic performance, which supports circulation and reduces the amount of oxygen an athlete uses while engaged in moderately intense exercise. Reduces stress after eating dark chocolate. There were reduced levels of the stress hormone cortisol.
The supermarket/hypermarket segment has the highest share due to versatile product availability. The online segment is anticipated to be the fastest growing over the forecast period. Increased internet penetration in the country and high adoption of online purchasing has witnessed significant growth in the past years. The major driving factors for online sales would be Generation X, millennial’s, and generation Z parents' internet and e-commerce access.
The pandemic had considerably affected chocolate production. The restrictions imposed led to losses for farmers growing cocoa, as the production surpassed the demands. Due to the imposed lockdown, labour immobility, and raw material scarcity, the production units faced difficulties. However, due to health reasons, consumers switched to dark chocolate during the pandemic as they were low in calorie count and benefited the heart.
Considered in this report:
• Geography: Spain
• Base year: 2021
• Estimated year: 2022
• Forecast year: 2027
Aspects covered in this report
• Spain chocolate market with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation
By Type in the report:
By Application in the report:
• Seasonal/ Gift Box
By Sales Channel in the report:
• Supermarket & Hypermarket
• Convenience Store
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, analysing 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.
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.