Informed choices regarding food and changing tastes and consumption patterns by people have given rise to advanced artisanal chocolate. People are now switching from chocolate chips to advanced artisanal chocolate because of its tantalizing aroma and unmistakable taste. It is produced from cocoa beans and made into chocolate. It is a unique composition of cocoa beans with various flavors. Cocoa is essential for dark chocolate. Therefore, it contains several nutrients and antioxidants necessary to fight against many diseases. Due to its health benefits, an increase in people’s disposable income promotes its adoption.
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Analysis of the COVID-19 scenario:
Depending on the prevailing situations, the strict regulations on business practices have caused an unexpected decline in the economy of the advanced artisanal chocolate industry.
Industries are closed, which has led to non-production, and people are piling up. Ultimately, this will lead to an extreme shortage of advanced artisanal chocolate in the near future. Thus, the pandemic has become an obstacle to the growth of the market.
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Main impact factors: analysis of market scenarios, trends, drivers and impact analysis
A growing awareness of health issues has given rise to the emergence of the advanced artisanal chocolate market. Artisanal chocolate is made from cocoa beans, which are useful for combating stress as well as for health. Besides, the increasing demand for different varieties of food facilitates the growth of the global market. It offers several flavors like milk chocolate, dark chocolate and white chocolate according to the preferences of the consumer. It is beneficial in releasing good hormones in the body. The presence of certain chemicals will hamper the growth of the chocolate market. But, the amazing taste and stress suppressing feature is considered to be the main reason for the growth of the market.
Launch of new products to grow the market
Many companies adopt several strategies to diversify their businesses through mergers and acquisitions. The advent of technology has made it easier to conduct further research on the product. For example, the latest invention of Callebaut-Ruby Chocolate and Whole fruit Chocolate may grab the attention of artisan chocolate lovers. Thus, it is helpful in building customer base and generating income. Thus, the launch of new products facilitates the growth of this market.
The increase in the use of online and offline sales
The presence of online and offline sales enables growth to a large extent. Many hotels and restaurants are innovatively keeping advanced artisan chocolate on their menus to identify the target market. It is not only consumed by children, but also preferred by people of different age groups due to its multiple flavors. Online channels provide convenience and ease of availability to consumers, resulting in increased sales. In addition, the use of the slogan, which is catchy in their advertisements, has built up a large consumer base.
Main advantages of the report:
• This study presents the analytical description of the global advanced artisanal chocolate industry along with current trends and future estimates to determine impending pockets of investment.
• The report presents information related to key drivers, restraints, and opportunities, along with a detailed analysis of the global advanced artisanal chocolate market share.
• The current market is quantitatively analyzed from 2020 to 2027 to highlight the growth scenario of the global advanced artisanal chocolate market.
• Porter’s Five Forces Analysis illustrates the power of buyers and suppliers in the marketplace.
• The report provides a detailed analysis of the global advanced artisanal chocolate market based on the intensity of the competition and how the competition will shape in the coming years.
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