According to the latest report by IMARC Group, titled “Chocolate Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a comprehensive analysis of the industry, which comprises insights on global chocolate industry size. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global chocolate market size reached US$ 156.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 181.8 Billion by 2028, exhibiting a growth rate (CAGR) of 2.4% during 2023-2028.

What are chocolate?

Chocolate refers to a sweet, edible product produced by roasting and grinding cocoa beans. It is a rich source of carbohydrates, essential minerals, and alkaloids, such as phenethylamine, theobromine, flavonoids, and caffeine. Its consumption is beneficial for the skin since it is a rich source of iron, calcium, and manganese. It also helps in relieving stress, and boosting blood circulation to the brain, thereby improving memory power. Additionally, it aids in maintaining cardiovascular health due to its anti-inflammation properties. Some commonly available chocolates include milk, dark, and white, with unique flavors, such as raspberry, mint, blueberry, espresso, pomegranate, honey, and peanut butter. Besides, it is extensively available in different shapes and sizes, including bars, cubes, chips, and wafers.

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What are the growth prospects and trends in the chocolate industry?

The rising consumption of chocolate-based food items, such as ice creams, cakes, pastries, candies, donuts, shakes, fudge, and fondants, is driving the global market. Moreover, the rapid expansion of the food and beverage (F&B) industry and the escalating number of hotels, restaurants, coffee centers, and bakeries are contributing to the growth of the market. Furthermore, several leading players are developing new varieties by adding flavors, nuts, raisins, and almonds, which are gaining prominence among the masses. Besides, continuous improvements in organized distribution channels, and the emerging e-commerce sectors, are impacting the market favorably. Other factors, such as inflating disposable income levels of the masses and the growing popularity of organic and sugar-free chocolates, are also influencing the market.

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Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

  • Arcor
  • Barry Callebaut
  • Chocoladefabriken Lindt & Sprüngli AG
  • Chocolaterie Guylian
  • Ferrero International
  • Mars Incorporated
  • Meiji Co. Ltd.
  • Mondelez International Inc. (Kraft Foods)
  • Moonstruck Chocolate Company
  • Nestlé S.A.
  • The Hershey Company

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Chocolate Market Segmentation:

Our report has categorized the market based on region, product type, product form, application, pricing and distribution.

Breakup by Product Type:

  • White Chocolate
  • Milk Chocolate
  • Dark Chocolate
  • Others

Breakup by Product Form:

  • Molded
  • Countlines
  • Others

Breakup by Application:

  • Food Products
  • Bakery Products
  • Sugar Confectionery
  • Desserts
  • Others
  • Beverages
  • Others

Breakup by Pricing:

  • Everyday Chocolate
  • Premium Chocolate
  • Seasonal Chocolate

Breakup by Distribution:

  • Direct Sales (B2B)
  • Supermarkets/Hypermarkets
  • Convenience Stores
  • Online Stores
  • Others

Breakup by Region:

  • North America (United States, Canada)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Others)
  • Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key highlights of the report:

  • Market Performance (2017-2022)
  • Market Outlook (2023-2028)
  • Porter’s Five Forces Analysis
  • Market Drivers and Success Factors
  • SWOT Analysis
  • Value Chain
  • Comprehensive Mapping of the Competitive Landscape

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About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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