Global Chocolate Market Overview
Global Chocolate Market is developing as manufacturers are cutting down the usage of chemical additives like Cargill have gone a step ahead and removed lecithin from its cocoa and chocolate offerings. Neste SA introduced a limited-edition green tea matcha KitKat in the United Arab Emirates, Saudi Arabia, and Kuwait in October 2019. Lindt & Sprüngli debuted a new Lindt Chocolate Boutique at Zurich Airport in May 2019, a new counter where Lindt Master Chocolatiers produce daily fresh chocolate masterpieces.
Increasing the disposable income of consumers coupled with shifting taste preferences from traditional sweets to confectionery products is driving the demand of the global chocolate market. Moreover, a growing population, increasing urbanization, and easy availability of the product would be some of the major factors leading to growth in demand for chocolates worldwide. Increasing competition due to the presence of a large number of players in the market would result in a decline in the prices of chocolates augmenting the growth of the global chocolate market.
According to 6Wresearch, the Global Chocolate market size is projected to grow at a CAGR of 3.5% during 2019–25. Based on chocolate types, milk chocolate captured the majority of the market revenue share in 2018 and is expected to lead the market revenues during the forecast period as well owing to the easy availability of the product and growing consumer preference towards sweeter chocolates. However, Dark chocolate is projected to witness substantial growth over the next six years due to growing.
Europe dominates the global chocolate market owing to increasing consumer demand for dark chocolate in the region. However, the Asia Pacific region, especially emerging economies such as India, China, and Japan are projected to witness substantial revenue growth over the coming years due to the growing young population in the region.
Key Highlights of the Report:-
- Global Chocolate Market Overview
- Global Chocolate Market Outlook
- Global Chocolate Market Forecast
- Market Drivers and Restraints
- Global Chocolate Market Price Trends
- Global Chocolate Market Trends and Industry Life Cycle
- Porter’s Five Force Analysis
- Market Opportunity Assessment
- Global Chocolate Market Share, By Regions
- Global Chocolate Market Share, By Players
- Company Profiles
- Key Strategic Recommendations
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