Global Chocolate Confectionery Market Trends and Forecasts Report 2023-2028 - Expansion Into New Product Categories, Personalization & Customization, and Exotic & Novel Flavors

DUBLIN, June 16, 2023 /PRNewswire/ -- The "Global Chocolate Confectionery Market: Analysis By Category, By Product Type, By Price Point, By Age Group, By Distribution Channel, By Region Size and Trends with Impact of COVID-19 and Forecast up to 2028" report has been added to ResearchAndMarkets.com's offering.

The global chocolate confectionery market in 2022 stood at US$137.95 billion, and is likely to reach US$186.99 billion by 2028. The global chocolate confectionery market is projected to grow at a CAGR of 5.20% during the forecast period of 2023-2028.

Chocolate confectionery refers to sweet treats primarily composed of chocolate or cocoa derivatives, including products such as chocolate bars, truffles, and pralines. Originating as a luxury item in Mesoamerica, chocolate underwent a transformation to a sweet beverage favored by European elites, following the introduction of sugar.

The 20th-century industrial revolution, marked by key innovations such as the cocoa press and mass production, led to the evolution of chocolate from a premium product to a universally relished confectionery. The transition of these sweets into easily accessible, portable snacks has broadened their consumer base, thereby boosting their popularity and indicating the dynamic progression of the chocolate confectionery market.

In recent years, the popularity of chocolate confectionery has increased for various reasons, primarily due to its potential health benefits, the rise of artisan and premium chocolates, the growth of online sales channels providing greater accessibility, and innovation in flavors and forms driven by effective marketing campaigns.

As consumers continue to increase their awareness of lifestyle and consumption choices, it is expected that the chocolate confectionery market to deepen its offering in specific lifestyle choice products including reduced sugar and dairy free. 

Competitive Landscape and Recent Developments:

The global chocolate confectionery market is moderately consolidated, with key players like Mondelez International, Mars Incorporated, Ferrero Group, and Nestle leading the way.

The top six consumer facing chocolate confectionery companies held more than 55% of global market share, with the top three alone (Mars, Ferrero and Mondelez) holding more than 30% share. These companies, known for brands like Cadbury, Mars, Ferrero Rocher, and KitKat, differentiate themselves through brand credibility, high-quality products, innovation, wide distribution networks, and effective marketing strategies.

They respond to consumer interests by continuously innovating in flavors, packaging, and product formats, including premium and dark chocolate offerings. Sustainability is also crucial, with companies like Waterbridge Belgian Chocolate and major cocoa grinders emphasizing ethical sourcing.

Artisanal and local brands offer unique, gourmet experiences and cater to health-conscious and ethically-minded consumers. Recent brand developments highlight a focus on health-conscious, premium, and ethical offerings, such as The Hershey Company's acquisition of 'better-for-you' brand Lily's and Barry Callebaut's innovative 2nd Generation Chocolate.

Market Dynamics

Growth Driver

• Rapid Urbanization
• Growth Of E-commerce
• Rising Disposable Income
• Health and Wellness Trends
• Gifting Culture and Festive Celebrations
• Marketing and Branding Initiatives

Challenges

• Fluctuating Raw Material Costs
• Regulatory Changes
• Health Concerns

Market Trends

• Artificial Intelligence (AI) and Data Analytics
• Growing Integration of AR and VR
• Technological Innovations
• Sustainable Practices
• Expansion Into New Product Categories, Personalization & Customization, and Exotic & Novel Flavors
• Continued Momentum Of 'Snacking Culture'
• Out Of Home Consumption
• Vegan Products, Reduced-sugar And Sugar-free Chocolate Confectionery
• Increasing Demand for Premium Chocolate Confectionery

Key players in the chocolate confectionery market are:

• Mondelez International Inc
• Nestle SA
• Meiji Holdings Co., Ltd.
• Hershey Co
• Chocoladefabriken Lindt & Sprungli AG
• Ezaki Glico Co., Ltd.
• Barry Callebaut
• Mars Inc
• Ferrero International SA
• Yildiz Holding (Pladis Global)
• CEMOI Group
• Orion Group (Orion Confectionery)
• August Storck KG

Global Market Analysis

1 Global Chocolate Confectionery Market: An Analysis
1.1 Global Chocolate Confectionery Market: An Overview
1.2 Global Chocolate Confectionery Market by Value
1.3 Global Chocolate Confectionery Market by Category (Tablets / Molded Bars, Countlines, Boxed Assortments, Chocolates Pouches and Bags, Seasonal Chocolates, Chocolates with Toys, and Others)
1.4 Global Chocolate Confectionery Market by Product Type (Milk Chocolates, Dark Chocolates, and White Chocolates)
1.5 Global Chocolate Confectionery Market by Price Point (Economy, Mid-Range, and Luxury)
1.6 Global Chocolate Confectionery Market by Age Group (Adult, Children, and Geriatrics)
1.7 Global Chocolate Confectionery Market by Distribution Channel (Supermarkets/ Hypermarkets, Convenience Stores, Specialty Stores, E-commerce, Duty-free Stores, and Others)
1.8 Global Chocolate Confectionery Market by Region (Europe, North America, Asia Pacific, Latin America, and Middle East & Africa)

2 Global Chocolate Confectionery Market: Category Analysis
2.1 Global Chocolate Confectionery Market by Category: An Overview
2.2 Global Tablets/Molded Bars Chocolate Confectionery Market by Value
2.3 Global Countlines Chocolate Confectionery Market by Value
2.4 Global Boxed Assortments Chocolate Confectionery Market by Value
2.5 Global Chocolate Pouches and Bags Confectionery Market by Value
2.6 Global Seasonal Chocolate Confectionery Market by Value
2.7 Global Chocolates with Toys Confectionery Market by Value
2.8 Global Others Chocolate Confectionery Market by Value

3 Global Chocolate Confectionery Market: Product Type Analysis
3.1 Global Chocolate Confectionery Market by Product Type: An Overview
3.2 Global Milk Chocolate Confectionery Market by Value
3.3 Global Dark Chocolate Confectionery Market by Value
3.4 Global White Chocolate Confectionery Market by Value

4 Global Chocolate Confectionery Market: Price Point Analysis
4.1 Global Chocolate Confectionery Market by Price Point: An Overview
4.2 Global Economy Chocolate Confectionery Market by Value
4.3 Global Mid-Range Chocolate Confectionery Market by Value
4.4 Global Luxury Chocolate Confectionery Market by Value

5 Global Chocolate Confectionery Market: Age Group Analysis
5.1 Global Chocolate Confectionery Market by Age Group: An Overview
5.2 Global Adult Chocolate Confectionery Market by Value
5.3 Global Children Chocolate Confectionery Market by Value
5.4 Global Geriatrics Chocolate Confectionery Market by Value

6 Global Chocolate Confectionery Market: Distribution Channel Analysis
6.1 Global Chocolate Confectionery Market by Distribution Channel: An Overview
6.2 Global Supermarkets/Hypermarkets Chocolate Confectionery Market by Value
6.3 Global Convenience Stores Chocolate Confectionery Market by Value
6.4 Global Specialty Stores Chocolate Confectionery Market by Value
6.5 Global E-commerce Chocolate Confectionery Market by Value
6.6 Global Duty-free Stores Chocolate Confectionery Market by Value
6.7 Global Others Distribution Channel Chocolate Confectionery Market by Value

For more information about this report visit https://www.researchandmarkets.com/r/joa9j7

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