Chocolate Market size to grow by USD 45.78 million from 2022 to 2027|Arcor Group, AUGUST STORCK KG, Barry Callebaut AG, Chocoladefabriken Lindt and Sprungli AG and more among the key companies in the market – Technavio

NEW YORK, Oct. 30, 2023 /PRNewswire/ — The chocolate market size is forecast to increase by USD 45.78 million from 2022 to 2027. The market is estimated to progress at a CAGR of 4.97%, according to a recent market study by Technavio. The growth of the market will be driven by the Increasing premiumization of chocolates, new product launches, and increasing marketing activities. Technavio has extensively analyzed 15 major vendors, including Arcor Group, AUGUST STORCK KG, Barry Callebaut AG, Chocoladefabriken Lindt and Sprungli AG, Crown Confectionery Co. Ltd, Delfi Ltd., Ezaki Glico Co. Ltd., Ferrero International S.A., Ghirardelli Chocolate Co., Gujarat Cooperative Milk Marketing Federation, Lotte Corp, Mars Inc., Meiji Holdings Co. Ltd., Mondelez International Inc., Moonstruck Chocolate Co., Nestle SA, Orion Corp., The Australian Carob Co., The Hershey Co., and Yildiz Holding AS.Charts & data tables about market and segment sizes for a historic period of five (2017-2021) years have been covered in this report. Download The Sample Report

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Key Benefits for Industry Players & Stakeholders – 

The report offers information on the criticality of vendor inputs, including R&D, CAPEX, and technology.It also provides detailed analyses of the market’s competitive landscape and vendors’ product offerings.The report also provides a qualitative and quantitative analysis of vendors to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.

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Chocolate Market – Segmentation Assessment

The market is segmented by product (Milk chocolate, Dark chocolate, and White chocolate), Distribution Channel (Offline and Online), and geography (Europe, North America, APAC, South America, and Middle East and Africa).

The market share growth by the milk chocolate segment is significant during the forecast period. There is a growing popularity and increasing preference for the milk chocolate segment among consumers. The manufacturing process of milk chocolate includes the mixing of cocoa solids with milk solids, sugar, and cream. But factors such as the growing health consciousness of people and increasing awareness of health problems caused by ailments such as obesity and heart disease are expected to negatively affect the market share growth of the milk chocolate segment. Therefore, several vendors in chocolate are innovating new healthier variants of milk chocolate to cater to the health-conscious consumer segment. Hence, such factors are expected to drive the market growth of this segment during the forecast period.

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Chocolate Market – Market Dynamics

Key Drivers

The growing demand for premium chocolates is expected to drive the chocolate market growth during the forecast period. Several prominent vendors in the market, such as Mars, Barry Callebaut, and Mondelez International, are expanding their product portfolio by introducing differentiation, premiumization, and personalization in their chocolate segments with new premium offerings. As a result, many players in the market are launching premium variants of their products to attract more consumers who buy products based on price, packaging, ingredients, exclusivity, and provenance. Furthermore, the increasing preference for organic, sugar-free, vegan, and gluten-free chocolates by health-conscious consumers is also significantly contributing to the increasing demand for premium chocolates. Hence, such factors are expected to positively impact the market growth, which, in turn, will drive the chocolate market growth during the forecast period.

Significant Trends

The increasing demand for healthier chocolates is a primary trend in the market during the forecast period. There has been a growing popularity for healthier chocolates among consumer segments, such as vegan, organic, and sugar-free chocolates over the years. One of the main reasons for this increasing demand is the high preference for healthy living and awareness of the health issues related to the consumption of chocolates. As a result, several vendors in the market are offering various healthy variants of their chocolate products, such as chocolates with low-sugar content and increased fortification of nutrients. Furthermore, there is an increasing preference for organic raw chocolates that contain vitamins, minerals, and antioxidants. Hence, such factors are expected to drive the chocolate market growth during the forecast period.

Major Challenges

Fluctuations in cocoa prices and declining per capita consumption is a significant challenge hindering the market growth during the forecast period. The main component for the manufacturing of chocolate is cocoa, and it is subjected to various price fluctuations. As a result, these fluctuations will significantly influence the cost of manufacturing chocolates which makes it challenging for marketers to estimate the manufacturing costs every year. Furthermore, the volatility in cocoa prices has become a significant challenge for the regional confectionery market as chocolates are one of the highest-selling items in the global confectionery market. The price of coca highly relies on several growing conditions from month to month, which are significantly influenced by diseases, aging crops, and political instability. Hence, such factors are expected to hinder the chocolate market growth during the forecast period.

What are the key data covered in this Chocolate Market report?

CAGR of the market during the forecast periodDetailed information on factors that will drive the growth of the chocolate market between 2023 and 2027Precise estimation of the chocolate market size and its contribution to the market with a focus on the parent marketAccurate predictions about upcoming trends and changes in consumer behaviorGrowth of the chocolate market across Europe, North America, APAC, South America, and Middle East and AfricaA thorough analysis of the market’s competitive landscape and detailed information about vendorsComprehensive analysis of factors that will challenge the growth of chocolate market vendors

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Table of Contents

1 Executive Summary

1.1 Market overviewExhibit 01: Executive Summary – Chart on Market OverviewExhibit 02: Executive Summary – Data Table on Market OverviewExhibit 03: Executive Summary – Chart on Global Market CharacteristicsExhibit 04: Executive Summary – Chart on Market by GeographyExhibit 05: Executive Summary – Chart on Market Segmentation by ProductExhibit 06: Executive Summary – Chart on Market Segmentation by Distribution ChannelExhibit 07: Executive Summary – Chart on Incremental GrowthExhibit 08: Executive Summary – Data Table on Incremental GrowthExhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

2.1 Market ecosystemExhibit 10: Parent marketExhibit 11: Market Characteristics

3 Market Sizing

3.1 Market definitionExhibit 12: Offerings of vendors included in the market definition3.2 Market segment analysis Exhibit 13: Market segments3.3 Market size 20223.4 Market outlook: Forecast for 2022-2027 Exhibit 14: Chart on Global – Market size and forecast 2022-2027 (USD billion)Exhibit 15: Data Table on Global – Market size and forecast 2022-2027 (USD billion)Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

4.1 Global chocolate market 2017 – 2021 Exhibit 18: Historic Market Size – Data Table on global chocolate market 2017 – 2021 (USD billion)4.2 Product Segment Analysis 2017 – 2021 Exhibit 19: Historic Market Size – Product Segment 2017 – 2021 (USD billion)4.3 Distribution Channel Segment Analysis 2017 – 2021 Exhibit 20: Historic Market Size – Distribution Channel Segment 2017 – 2021 (USD billion)4.4 Geography Segment Analysis 2017 – 2021 Exhibit 21: Historic Market Size – Geography Segment 2017 – 2021 (USD billion)4.5 Country Segment Analysis 2017 – 2021 Exhibit 22: Historic Market Size – Country Segment 2017 – 2021 (USD billion)

5 Five Forces Analysis

5.1 Five forces summaryExhibit 23: Five forces analysis – Comparison between 2022 and 20275.2 Bargaining power of buyers Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 20275.3 Bargaining power of suppliers Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 20275.4 Threat of new entrants Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 20275.5 Threat of substitutes Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 20275.6 Threat of rivalryExhibit 28: Threat of rivalry – Impact of key factors in 2022 and 20275.7 Market conditionExhibit 29: Chart on Market condition – Five forces 2022 and 2027

6 Market Segmentation by Product

6.1 Market segmentsExhibit 30: Chart on Product – Market share 2022-2027 (%)Exhibit 31: Data Table on Product – Market share 2022-2027 (%)6.2 Comparison by Product Exhibit 32: Chart on Comparison by ProductExhibit 33: Data Table on Comparison by Product6.3 Milk chocolate – Market size and forecast 2022-2027 Exhibit 34: Chart on Milk chocolate – Market size and forecast 2022-2027 (USD billion)Exhibit 35: Data Table on Milk chocolate – Market size and forecast 2022-2027 (USD billion)Exhibit 36: Chart on Milk chocolate – Year-over-year growth 2022-2027 (%)Exhibit 37: Data Table on Milk chocolate – Year-over-year growth 2022-2027 (%)6.4 Dark chocolate – Market size and forecast 2022-2027 Exhibit 38: Chart on Dark chocolate – Market size and forecast 2022-2027 (USD billion)Exhibit 39: Data Table on Dark chocolate – Market size and forecast 2022-2027 (USD billion)Exhibit 40: Chart on Dark chocolate – Year-over-year growth 2022-2027 (%)Exhibit 41: Data Table on Dark chocolate – Year-over-year growth 2022-2027 (%)6.5 White chocolate – Market size and forecast 2022-2027 Exhibit 42: Chart on White chocolate – Market size and forecast 2022-2027 (USD billion)Exhibit 43: Data Table on White chocolate – Market size and forecast 2022-2027 (USD billion)Exhibit 44: Chart on White chocolate – Year-over-year growth 2022-2027 (%)Exhibit 45: Data Table on White chocolate – Year-over-year growth 2022-2027 (%)6.6 Market opportunity by Product Exhibit 46: Market opportunity by Product (USD billion)Exhibit 47: Data Table on Market opportunity by Product (USD billion)

7 Market Segmentation by Distribution Channel

7.1 Market segmentsExhibit 48: Chart on Distribution Channel – Market share 2022-2027 (%)Exhibit 49: Data Table on Distribution Channel – Market share 2022-2027 (%)7.2 Comparison by Distribution Channel Exhibit 50: Chart on Comparison by Distribution ChannelExhibit 51: Data Table on Comparison by Distribution Channel7.3 Offline – Market size and forecast 2022-2027 Exhibit 52: Chart on Offline – Market size and forecast 2022-2027 (USD billion)Exhibit 53: Data Table on Offline – Market size and forecast 2022-2027 (USD billion)Exhibit 54: Chart on Offline – Year-over-year growth 2022-2027 (%)Exhibit 55: Data Table on Offline – Year-over-year growth 2022-2027 (%)7.4 Online – Market size and forecast 2022-2027 Exhibit 56: Chart on Online – Market size and forecast 2022-2027 (USD billion)Exhibit 57: Data Table on Online – Market size and forecast 2022-2027 (USD billion)Exhibit 58: Chart on Online – Year-over-year growth 2022-2027 (%)Exhibit 59: Data Table on Online – Year-over-year growth 2022-2027 (%)7.5 Market opportunity by Distribution Channel Exhibit 60: Market opportunity by Distribution Channel (USD billion)Exhibit 61: Data Table on Market opportunity by Distribution Channel (USD billion)

8 Customer Landscape

8.1 Customer landscape overview Exhibit 62: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

9.1 Geographic segmentation Exhibit 63: Chart on Market share by geography 2022-2027 (%)Exhibit 64: Data Table on Market share by geography 2022-2027 (%)9.2 Geographic comparison Exhibit 65: Chart on Geographic comparisonExhibit 66: Data Table on Geographic comparison9.3 Europe – Market size and forecast 2022-2027 Exhibit 67: Chart on Europe – Market size and forecast 2022-2027 (USD billion)Exhibit 68: Data Table on Europe – Market size and forecast 2022-2027 (USD billion)Exhibit 69: Chart on Europe – Year-over-year growth 2022-2027 (%)Exhibit 70: Data Table on Europe – Year-over-year growth 2022-2027 (%)9.4 North America – Market size and forecast 2022-2027 Exhibit 71: Chart on North America – Market size and forecast 2022-2027 (USD billion)Exhibit 72: Data Table on North America – Market size and forecast 2022-2027 (USD billion)Exhibit 73: Chart on North America – Year-over-year growth 2022-2027 (%)Exhibit 74: Data Table on North America – Year-over-year growth 2022-2027 (%)9.5 APAC – Market size and forecast 2022-2027 Exhibit 75: Chart on APAC – Market size and forecast 2022-2027 (USD billion)Exhibit 76: Data Table on APAC – Market size and forecast 2022-2027 (USD billion)Exhibit 77: Chart on APAC – Year-over-year growth 2022-2027 (%)Exhibit 78: Data Table on APAC – Year-over-year growth 2022-2027 (%)9.6 South America – Market size and forecast 2022-2027 Exhibit 79: Chart on South America – Market size and forecast 2022-2027 (USD billion)Exhibit 80: Data Table on South America – Market size and forecast 2022-2027 (USD billion)Exhibit 81: Chart on South America – Year-over-year growth 2022-2027 (%)Exhibit 82: Data Table on South America – Year-over-year growth 2022-2027 (%)9.7 Middle East and Africa – Market size and forecast 2022-2027 Exhibit 83: Chart on Middle East and Africa – Market size and forecast 2022-2027 (USD billion)Exhibit 84: Data Table on Middle East and Africa – Market size and forecast 2022-2027 (USD billion)Exhibit 85: Chart on Middle East and Africa – Year-over-year growth 2022-2027 (%)Exhibit 86: Data Table on Middle East and Africa – Year-over-year growth 2022-2027 (%)9.8 US – Market size and forecast 2022-2027 Exhibit 87: Chart on US – Market size and forecast 2022-2027 (USD billion)Exhibit 88: Data Table on US – Market size and forecast 2022-2027 (USD billion)Exhibit 89: Chart on US – Year-over-year growth 2022-2027 (%)Exhibit 90: Data Table on US – Year-over-year growth 2022-2027 (%)9.9 Germany – Market size and forecast 2022-2027 Exhibit 91: Chart on Germany – Market size and forecast 2022-2027 (USD billion)Exhibit 92: Data Table on Germany – Market size and forecast 2022-2027 (USD billion)Exhibit 93: Chart on Germany – Year-over-year growth 2022-2027 (%)Exhibit 94: Data Table on Germany – Year-over-year growth 2022-2027 (%)9.10 China – Market size and forecast 2022-2027 Exhibit 95: Chart on China – Market size and forecast 2022-2027 (USD billion)Exhibit 96: Data Table on China – Market size and forecast 2022-2027 (USD billion)Exhibit 97: Chart on China – Year-over-year growth 2022-2027 (%)Exhibit 98: Data Table on China – Year-over-year growth 2022-2027 (%)9.11 France – Market size and forecast 2022-2027 Exhibit 99: Chart on France – Market size and forecast 2022-2027 (USD billion)Exhibit 100: Data Table on France – Market size and forecast 2022-2027 (USD billion)Exhibit 101: Chart on France – Year-over-year growth 2022-2027 (%)Exhibit 102: Data Table on France – Year-over-year growth 2022-2027 (%)9.12 UK – Market size and forecast 2022-2027 Exhibit 103: Chart on UK – Market size and forecast 2022-2027 (USD billion)Exhibit 104: Data Table on UK – Market size and forecast 2022-2027 (USD billion)Exhibit 105: Chart on UK – Year-over-year growth 2022-2027 (%)Exhibit 106: Data Table on UK – Year-over-year growth 2022-2027 (%)9.13 Market opportunity by geography Exhibit 107: Market opportunity by geography (USD billion)Exhibit 108: Data Tables on Market opportunity by geography (USD billion)

10 Drivers, Challenges, and Trends

10.1 Market drivers10.2 Market challenges10.3 Impact of drivers and challenges Exhibit 109: Impact of drivers and challenges in 2022 and 202710.4 Market trends

11 Vendor Landscape

11.1 Overview11.2 Vendor landscapeExhibit 110: Overview on Criticality of inputs and Factors of differentiation11.3 Landscape disruptionExhibit 111: Overview on factors of disruption11.4 Industry risksExhibit 112: Impact of key risks on business

12 Vendor Analysis

12.1 Vendors coveredExhibit 113: Vendors covered12.2 Market positioning of vendors Exhibit 114: Matrix on vendor position and classification12.3 Arcor GroupExhibit 115: Arcor Group – OverviewExhibit 116: Arcor Group – Business segmentsExhibit 117: Arcor Group – Key offeringsExhibit 118: Arcor Group – Segment focus12.4 AUGUST STORCK KGExhibit 119: AUGUST STORCK KG – OverviewExhibit 120: AUGUST STORCK KG – Product / ServiceExhibit 121: AUGUST STORCK KG – Key offerings12.5 Barry Callebaut AGExhibit 122: Barry Callebaut AG – OverviewExhibit 123: Barry Callebaut AG – Business segmentsExhibit 124: Barry Callebaut AG – Key newsExhibit 125: Barry Callebaut AG – Key offeringsExhibit 126: Barry Callebaut AG – Segment focus12.6 Chocoladefabriken Lindt and Sprungli AG Exhibit 127: Chocoladefabriken Lindt and Sprungli AG – OverviewExhibit 128: Chocoladefabriken Lindt and Sprungli AG – Business segmentsExhibit 129: Chocoladefabriken Lindt and Sprungli AG – Key newsExhibit 130: Chocoladefabriken Lindt and Sprungli AG – Key offeringsExhibit 131: Chocoladefabriken Lindt and Sprungli AG – Segment focus12.7 Delfi Ltd.Exhibit 132: Delfi Ltd. – OverviewExhibit 133: Delfi Ltd. – Business segmentsExhibit 134: Delfi Ltd. – Key offeringsExhibit 135: Delfi Ltd. – Segment focus12.8 Ezaki Glico Co. Ltd.Exhibit 136: Ezaki Glico Co. Ltd. – OverviewExhibit 137: Ezaki Glico Co. Ltd. – Business segmentsExhibit 138: Ezaki Glico Co. Ltd. – Key offeringsExhibit 139: Ezaki Glico Co. Ltd. – Segment focus12.9 Ferrero International S.A. Exhibit 140: Ferrero International S.A. – OverviewExhibit 141: Ferrero International S.A. – Product / ServiceExhibit 142: Ferrero International S.A. – Key offerings12.10 Ghirardelli Chocolate Co. Exhibit 143: Ghirardelli Chocolate Co. – OverviewExhibit 144: Ghirardelli Chocolate Co. – Product / ServiceExhibit 145: Ghirardelli Chocolate Co. – Key offerings12.11 Mars Inc.Exhibit 146: Mars Inc. – OverviewExhibit 147: Mars Inc. – Product / ServiceExhibit 148: Mars Inc. – Key offerings12.12 Meiji Holdings Co. Ltd. Exhibit 149: Meiji Holdings Co. Ltd. – OverviewExhibit 150: Meiji Holdings Co. Ltd. – Business segmentsExhibit 151: Meiji Holdings Co. Ltd. – Key newsExhibit 152: Meiji Holdings Co. Ltd. – Key offeringsExhibit 153: Meiji Holdings Co. Ltd. – Segment focus12.13 Mondelez International Inc. Exhibit 154: Mondelez International Inc. – OverviewExhibit 155: Mondelez International Inc. – Business segmentsExhibit 156: Mondelez International Inc. – Key newsExhibit 157: Mondelez International Inc. – Key offeringsExhibit 158: Mondelez International Inc. – Segment focus12.14 Nestle SAExhibit 159: Nestle SA – OverviewExhibit 160: Nestle SA – Business segmentsExhibit 161: Nestle SA – Key newsExhibit 162: Nestle SA – Key offeringsExhibit 163: Nestle SA – Segment focus12.15 The Australian Carob Co. Exhibit 164: The Australian Carob Co. – OverviewExhibit 165: The Australian Carob Co. – Product / ServiceExhibit 166: The Australian Carob Co. – Key offerings12.16 The Hershey Co.Exhibit 167: The Hershey Co. – OverviewExhibit 168: The Hershey Co. – Business segmentsExhibit 169: The Hershey Co. – Key newsExhibit 170: The Hershey Co. – Key offeringsExhibit 171: The Hershey Co. – Segment focus12.17 Yildiz Holding ASExhibit 172: Yildiz Holding AS – OverviewExhibit 173: Yildiz Holding AS – Product / ServiceExhibit 174: Yildiz Holding AS – Key offerings

13 Appendix

13.1 Scope of the report13.2 Inclusions and exclusions checklist Exhibit 175: Inclusions checklistExhibit 176: Exclusions checklist13.3 Currency conversion rates for USUSD Exhibit 177: Currency conversion rates for USUSD13.4 Research methodologyExhibit 178: Research methodologyExhibit 179: Validation techniques employed for market sizingExhibit 180: Information sources13.5 List of abbreviations Exhibit 181: List of abbreviations

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