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Global Chocolate Confectionery Market Comprehensive Study: Forecasted Market Size And Growth Rate | Barry Callebaut AG, Mondelez International Inc., Nestlé S.A., The Hershey Company, Ferrero Group, Mars Incorporated, Meiji Holdings Co. Ltd., Grupo Arcor,
Chocolate Confectionery Market Size
The Business Research Company offers in-depth market insights through Chocolate Confectionery Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The chocolate confectionery market size has grown strongly in recent years. It will grow from $181.04 billion in 2023 to $190.8 billion in 2024 at a compound annual growth rate (CAGR) of 5.4%. The growth in the historic period can be attributed to cultural significance of chocolate, globalization and accessibility, advertising and branding, rising disposable income, product innovation and variety, gift-giving tradition.
The chocolate confectionery market size is expected to see steady growth in the next few years. It will grow to $228.01 billion in 2028 at a compound annual growth rate (CAGR) of 4.6%. The growth in the forecast period can be attributed to premiumization and artisanal offerings, sustainable and ethical sourcing, innovations in chocolate formats, functional ingredients and claims, global economic trends. Major trends in the forecast period include introduction of functional and healthy ingredients, innovative flavor combinations and infusions, customization and personalization, digitalization in marketing and sales,shift towards dark chocolate and healthier alternatives.
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Market Segmentation:
The chocolate confectionery market covered in this report is segmented -
1) By Type: Milk Chocolate, Dark Chocolate, White chocolate
2) By Category: Premium, Seasonal, Everyday
3) By Distribution Channel: Supermarkets And Hypermarkets, Convenience Stores, Pharmaceutical and drug stores, Specialty stores, Duty-free stores, E-commerce, Other Distribution Channels
Major Driver - Rising Chocolate Consumption Fuels Robust Growth In The Chocolate Confectionery Market
The increased chocolate consumption is expected to propel the growth of the chocolate confectionery market going forward. Chocolate consumption refers to the total amount of chocolate that an individual or population consumes over a given time frame. People of all ages consume chocolate, and its increasing consumption will help chocolate confectioneries produce more chocolate and related products. For instance, in March 2023, according to statistics shared by the National Confectioners Association (NCA), a US-based trade organization that promotes chocolate, candy, gum, and mint, In 2022, overall chocolate sales were $18.2 billion, a 9.1% increase over the previous year. Furthermore, total chocolate sales in 2022 were $23.9 billion. Therefore, increased chocolate consumption is driving the growth of the chocolate confectionery market going forward.
Competitive Landscape:
Major companies operating in the chocolate confectionery market report are Barry Callebaut AG, Mondelez International Inc., Nestlé S.A., The Hershey Company, Ferrero Group, Mars Incorporated, Meiji Holdings Co. Ltd., Grupo Arcor, Chocoladenfabriken Lindt & Sprüngli AG, Ghirardelli Chocolate Co., Moonstruck Chocolatier Co., Chocolaterie Guylian, Lake Champlain Chocolates, The Australian Carob Co., Archer Daniels Midland Company, AMCO GmbH, Cargill Incorporated, Cocoatrade Limited, Ecom Cocoa International, Gerkens Cacao GmbH, ICAM S.p.A., Olam International Limited, Puratos Group NV, Alfred Ritter GmbH & Co. KG, Sarotti AG, Schachinger GmbH, August Storck KG, United Confectioners Group, Valio Ltd., Venchi S.p.A., Villars Maître Chocolatier SA, Wedel S.A. .
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Top Trend - Finest Chocolate With Cutting-Edge Cocoa Finesser Technology
Product innovations have emerged as a key trend gaining popularity in the chocolate confectionery market. Major companies operating in the chocolate confectionery market are focused on innovating new products to sustain their position in the market. For instance, in November 2022, Fabelle (a brand from ITC Limited), an India-based maker of luxury chocolate, launched Fabelle Finesse, the world's finest chocolate. Chocolate as thin as seven microns may now be produced by Fabelle thanks to a ground-breaking technological advancement by ITC called the Cocoa Finesser. This method assists in bringing chocolate particle size down to a new benchmark level that is impossible to accomplish with just the traditional refining process.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Chocolate Confectionery Market Characteristics
3. Chocolate Confectionery Market Trends And Strategies
4. Chocolate Confectionery Market - Macro Economic Scenario
5. Chocolate Confectionery Market Size And Growth
…..
27. Chocolate Confectionery Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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