The in-depth analysis of the historical data provides the Chocolate Market report offering Chocolate information about the market status for the forecast period. Exhaustive research and analysis of the Chocolate market segments such as, top market players across different geographical locations, their products and the end-users can help to understand the product trend, challenges, revenue, and growth factors.
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Chocolate is a typically sweet, usually brown comfort food prepared from cocoa tree in the form of blocks, liquid, or paste. Chocolate is used as flavoring ingredients in several foodstuffs, such as chocolate brownies, cakes, chocolate cookies, bars, and candies. The main ingredient cocoa provides phytochemicals, which is an antioxidant. The content of phytochemicals is high in dark chocolates. Chocolate increases serotonin levels in the brain and the gut and improves immune system.
It has the highest consumption of chocolate and presence of international players such as Mars, Mondelez, etc. Asia Pacific is the fastest growing region in chocolate market, owing to the growth of multinational companies in the region such as Mars, Hershey’s, Ferrero, and Ghirardelli. Also, high consumption of chocolate by growing population is propelling the demand for the growth of chocolate market over the forecast period.
By price range, economy range chocolate has the highest demand. During festivals such as Christmas, Easter, and Diwali demand for economy range and mid-range chocolate is high due to large population of low-income economy. According to World Bank PovcalNet Database, around 56% of global population is low-income and around 13% is middle-income population. Among products type, molded bars have the highest shares and it was valued at US$ 35.34 billion in 2016.
Among flavored chocolates, milk chocolates dominates the global chocolate market, which was valued at US$ 39.49 billion in 2016 and it is growing at a CAGR of 6.0% during the forecast period of 2017 – 2025. Dark chocolates have the second largest market growing with a CAGR of 8.3% during the forecast period of 2017 – 2025. Owing to various health benefits and increased awareness among the peoples regarding dark cocoa chocolates is expected to propel the demand for dark chocolates over forecast period.
According to the International Cocoa Organization, the net sales of the Mars Inc. was at the peak in 2016 with US$ 18000 Million followed by, Mondelez International with US$ 12,900 Million.
Major Players in the Chocolate Market:
Some of the major players in the chocolate market include Mars, Hershey, Nestlé, Barry Callebaut, Kraft Foods, Ferrero, Moonstruck Chocolatier Co., Ghirardelli Chocolate Co., and Mondelez International (Cadbury).
[Note: *The PDF Brochure Includes
1) Table of Content (ToC),
2) Research Framework of the actual report, and
3) Research Methodology adopted for it.]
Important Information that can be extracted from the Report:
♦ Assessment of the COVID-19 impact on the growth of the Chocolate Market
♦ Successful market entry strategies formulated by emerging market players
♦ Pricing and marketing strategies adopted by established market players
♦ Country-wise assessment of the Chocolate Market in key regions
♦ Year-on-Year growth of each market segment over the forecast period 2027
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In Addition, The Years Considered For The Study Are As Follows:
Historical year – 2014 to 2018
Base year – 2019
Forecast period – 2020 to 2026
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