The global chocolate market is poised to grow by USD 41.15 billion during 2020-2024, progressing at a CAGR of over 5% during the forecast period. Request free sample pages
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Technavio has announced its latest market research report titled Global Chocolate Market 2020-2024 (Graphic: Business Wire)
Read the 120-page report with TOC on “Chocolate Market Analysis Report by Product (Milk chocolate, Dark chocolate and White chocolate), Geography (APAC, Europe, MEA, North America and South America), and the Segment Forecasts, 2020-2024”.
https://www.technavio.com/report/chocolate-market-industry-analysis
The market is driven by the increasing premiumization of chocolates. In addition, the New product launches is anticipated to boost the growth of the chocolate market.
Vendors are introducing new premium chocolates for differentiation and personalization of their chocolate segment. This is driving the demand for premium chocolates from emerging economies including Brazil, India, and China. The sales of premium chocolates help vendors to improve their profit margins as customers are highly influenced by exclusivity, packaging, provenance, ingredients, and price. Thus, the increasing premiumization of chocolates is expected to drive market growth during the forecast period.
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Major Five Chocolate Companies:
Arcor Group
Arcor Group has its business operations under three segments, such as consumer food products, agribusiness, and packaging. The company provides different varieties and flavors of chocolate products under various brands such as Arcor, Cofler, and Tofi.
Barry Callebaut AG
Barry Callebaut AG operates its business through various segments, such as food manufacturers, cocoa products, and gourmet & specialties. The company provides different varieties and flavors of chocolate products such as ruby chocolate, dark chocolate, milk chocolate, and caramel doré chocolate.
Chocoladefabriken Lindt & Sprüngli AG
Chocoladefabriken Lindt & Sprüngli AG has its business operations under three geographic regions, such as Europe, North America, and ROW. The company provides different varieties and flavors of chocolate products under various brands such as Lindt, Ghirardelli, Caffarel, and others.
Ferrero International SA
Ferrero International SA operates its business through four segments, such as Nutella, Kinder, Ferrero Pralines, and Tic Tac. The company offers chocolates such as Ferrero Rocher and Raffaello.
Mars Inc.
Mars Inc. has its business operations under various segments, such as Mars Petcare, Mars Wrigley Confectionery, Mars Food, Mars Drinks, and Mars Edge. The company offers chocolate products such as Skittles, M&M’S, SNICKERS, TWIX, MILKY WAY, and others.
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Chocolate Product Outlook (Revenue, USD Billion, 2020-2024)
- Milk chocolate
- Dark chocolate
- White chocolate
Chocolate Regional Outlook (Revenue, USD Billion, 2020-2024)
- APAC
- Europe
- MEA
- North America
- South America
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