According to the latest report by IMARC Group, titled “Chocolate Market: Global Industry Trends, Share, Size, Growth, Opportunities, and Forecast 2021-2026”, the global report chocolate market share showed moderate growth between 2021 and 2026. Chocolates refer to edible food products prepared using roasted and ground cocoa beans found in the pods of Theobroma cocoa trees. The chocolate liquor and cocoa butter obtained from the beans are then mixed in varying proportions to make dark, milk, white and couverture chocolates. These edibles are widely available in the market in many forms, such as blocks, cubes and melted. They are rich in alkaloids, including phenethylamine, caffeine, theobromine and flavonoids. Therefore, they are commonly used as flavoring ingredients in the preparation of various drinks, baked goods and confectionery products, such as cakes, cookies, brownies, pudding, milkshakes and ice cream.
As a novel coronavirus (COVID-19[female[feminine) the global crisis is invading the world, we are constantly monitoring the changes in the markets, as well as the purchasing behaviors of consumers around the world and our estimations on the latest market trends and forecasts are made after taking into account the impact of this pandemic.
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Global Chocolate Market Trends:
The global market is primarily fueled by tremendous growth in the food and beverage industry. This can be attributed to the swelling disposable income levels of the masses and their changing food preferences, which has contributed to an increase in the consumption of ready-to-eat baked goods and confectionery, in which chocolate is commonly used as an ingredient. essential. The market is further driven by the growing awareness of the many health benefits associated with dark chocolates. These variations include soluble fiber and bioactive compounds as well as being a rich source of antioxidants. As a result, moderate consumption of chocolate rich in cocoa is known to lower blood pressure, improve brain function, and minimize the risk of developing heart disease. Supported by the rise in sales of chocolates through organized online and offline retail channels, this is expected to provide a boost to market growth. Other factors contributing to the market include the growing prominence of sugar-free and gluten-free chocolates among health-conscious consumers, the widespread popularity of chocolates as holiday gifts, and the increasing premiumization of chocolate products. Due to the aforementioned factors, the market is expected to grow at a CAGR of around 5% during the forecast period (2021-2026).
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Competitive landscape with the main players:
The report also analyzed the competitive landscape of the market with some of the major players.
- Barry callebaut
- Chocoladefabriken Lindt & Sprüngli AG
- Guylian Chocolate Factory
- Ferrero International
- Mars incorporated
- Meiji Co. Ltd.
- Mondelez International Inc. (Kraft Foods)
- Moonstruck Chocolate Company
- Nestlé SA
- The Hershey Company
Segmentation of the chocolate market:
Our report has categorized the market based on region, product type, product form, application, price, and distribution.
Breakdown by product type:
- White chocolate
- Milk chocolate
- Dark chocolate
Breakdown by product form:
Breakdown by application:
- Bakery products
- Sugar confectionery
Outage by price:
- Everyday chocolate
- Premium quality chocolate
- Seasonal chocolate
Breakdown by distribution:
- Direct sales (B2B)
- Supermarkets / hypermarkets
- Convenience Stores
- Online stores
Breakdown by region:
- North America
- Asia Pacific
- Middle East and Africa
- Latin America
Highlights of the report:
- Market performance (2015-2020)
- Market Outlook (2021-2026)
- Porter’s Five Forces Analysis
- Market factors and success factors
- SWOT analysis
- Value chain
- Complete mapping of the competitive landscape
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