Premium chocolate market size to grow by USD 17.65 billion from 2022 to 2027, Increasing market indulgence to drive growth - Technavio

NEW YORK, May 16, 2023 /PRNewswire/ -- The premium chocolate market size is set to grow by USD 17.65 billion between 2022 and 2027 and register a CAGR of 8.79%, according to Technavio's latest market research report estimates. With a focus on identifying dominant industry influencers, Technavio's reports present a detailed study by way of synthesis and summation of data from multiple sources. This report offers an up-to-date analysis of the current market scenario, the latest trends and drivers, and the overall market environment. Technavio offers in-depth market insights that assist global businesses in obtaining growth opportunities. Read a sample report

The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. To leverage the current opportunities, market vendors must strengthen their foothold in the fast-growing segments while maintaining their positions in the slow-growing segments.

Premium Chocolate Market 2023-2027: Segmentation

• Distribution Channel
• Offline
• Online
• Product 
• Dark Premium Chocolate
• White
• Milk Premium Chocolate
• Geography 
• Europe
• North America
• APAC
• South America
• Middle East And Africa

The offline segment will account for a significant share of market growth during the forecast period. Offline sales channels include supermarkets, hypermarkets, department stores, convenience stores, distributors, independent retailers, and specialty retailers. Supermarkets and hypermarkets offer a wide range of products from different brands. Supermarket and hypermarket chains are focusing on expanding the number of stores globally. For instance, Walmart announced plans to open 300 new stores in China by 2024 as part of its global expansion policy. Such expansions will improve customer access and increase sales of premium chocolate products, which will drive the growth of the market during the forecast period.

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Premium Chocolate Market 2023-2027: Vendor Analysis and Scope

Some of the major vendors of the premium chocolate market include Cargill Inc., CEMOI Group, Champlain Chocolate Co., Chocoladefabriken Lindt and Sprungli AG, Ferrero International S.A., Hotel Chocolat Group plc, Lotte Corp., Marks and Spencer Plc, Mars Inc., Meiji Holdings Co. Ltd., Mondelez International Inc., Nestle SA, Neuhaus NV, Pierre Marcolini Group, RICHART, Savencia SA, Teuscher Chocolates of Switzerland, The Hershey Co., Vosges Haut Chocolat Ltd., and Yildiz Holding AS. To help businesses improve their market position, Technavio's report provides a detailed analysis of around 15 vendors operating in the market.

Vendor offerings

• Cargill Inc - The company offers different types of chocolates, such as milk chocolate, dark chocolate, white chocolate, and more.
• CEMOI Group - The company offers premium chocolates under the brand Maison CEMOI.
• Champlain Chocolate Co. - The company offers premium chocolates such as Assorted Chocolate Easter Eggs Bag and Spring Chocolate Assortment.
• Chocoladefabriken Lindt and Sprungli AG - The company offers premium chocolate such as Lindt EXCELLENCE and Lindt Lindor.

The report also covers the following areas:

• Premium Chocolate Market size
• Premium Chocolate Market trends
• Premium Chocolate Market industry analysis

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Premium Chocolate Market 2023-2027: Market dynamics

Driver - The increasing market indulgence is driving market growth. The demand for premium chocolates is increasing rapidly. Moreover, the demand for higher-quality chocolate is growing faster than for other types of chocolate. As a result, there have been numerous product launches in this category. Countries with the highest demand for premium chocolate include France, England, Italy, Spain, and Germany. The demand for premium chocolate is also fueled by the growing demand for dark chocolate. These factors will fuel market growth during the forecast period.

Trend - Support for sustainable cocoa production is a key trend in the market. There are several issues related to cocoa production, such as child labor, low incomes for local farmers, deforestation, and forest degradation, in African countries such as Côte d'Ivoire and Ghana. To solve these issues, many players are introducing sustainable cocoa production programs. For example, the European Commission launched an initiative for sustainable cocoa production. Such initiatives support sustainable cocoa production, which will boost the growth of the market during the forecast period.

Challenge - The threat from seasonal chocolates is challenging market growth. Seasonal chocolates are not available all year round. Therefore, sales of such chocolates increase exponentially during festivals and occasions such as Easter, Halloween, and Christmas. Players such as Lindt and Lake Champlain Chocolates sell seasonal chocolates designed for special occasions such as Mother's Day and Father's Day. The overall sales of seasonal chocolates increase during these days. Therefore, the threat from seasonal chocolates will impede the growth of the market during the forecast period. 

Premium Chocolate Market 2023-2027: Key Highlights

• CAGR of the market during the forecast period 2023-2027
• Detailed information on factors that will assist premium chocolate market growth during the next five years
• Estimation of the premium chocolate market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the premium chocolate market
• Analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of premium chocolate market vendors

What's New?

• Special coverage on the Russia-Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession
• Global competitiveness and key competitor positions
• Market presence across multiple geographical footprints - Strong/active/niche/trivial - Buy the report!

Related Reports:

The chocolate market is projected to increase by USD 45.78 million from 2022 to 2027. The market is estimated to grow at a CAGR of 4.97% between 2022 and 2027. Growing demand for healthier chocolates is an emerging trend in the market. However, unstable cocoa prices and declining per capita consumption are major challenges impeding the market.

The candy market size is projected to increase by USD 56.43 billion, and the market is estimated to grow at a CAGR of 4.48% between 2022 and 2027. The market is segmented by type (non-chocolate candy and chocolate candy), distribution Channel (offline and online), and geography (APAC, North America, Europe, South America, and Middle East and Africa).

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Table of contents

1 Executive Summary

• 1.1 Market overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Distribution Channel
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Product
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ billion)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ 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 premium chocolate market 2017 - 2021 
• Exhibit 18: Historic Market Size – Data Table on global premium chocolate market 2017 - 2021 ($ billion)

• 4.2 Distribution Channel Segment Analysis 2017 - 2021 
• Exhibit 19: Historic Market Size – Distribution Channel Segment 2017 - 2021 ($ billion)

• 4.3 Product Segment Analysis 2017 - 2021 
• Exhibit 20: Historic Market Size – Product Segment 2017 - 2021 ($ billion)

• 4.4 Geography Segment Analysis 2017 - 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ billion)

• 4.5 Country Segment Analysis 2017 - 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ billion)

5 Five Forces Analysis

• 5.1 Five forces summary
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Distribution Channel

• 6.1 Market segments
• Exhibit 30: Chart on Distribution Channel - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Distribution Channel - Market share 2022-2027 (%)

• 6.2 Comparison by Distribution Channel 
• Exhibit 32: Chart on Comparison by Distribution Channel
• Exhibit 33: Data Table on Comparison by Distribution Channel

• 6.3 Offline - Market size and forecast 2022-2027 
• Exhibit 34: Chart on Offline - Market size and forecast 2022-2027 ($ billion)
• Exhibit 35: Data Table on Offline - Market size and forecast 2022-2027 ($ billion)
• Exhibit 36: Chart on Offline - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Offline - Year-over-year growth 2022-2027 (%)

• 6.4 Online - Market size and forecast 2022-2027 
• Exhibit 38: Chart on Online - Market size and forecast 2022-2027 ($ billion)
• Exhibit 39: Data Table on Online - Market size and forecast 2022-2027 ($ billion)
• Exhibit 40: Chart on Online - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Online - Year-over-year growth 2022-2027 (%)

• 6.5 Market opportunity by Distribution Channel 
• Exhibit 42: Market opportunity by Distribution Channel ($ billion)
• Exhibit 43: Data Table on Market opportunity by Distribution Channel ($ billion)

7 Market Segmentation by Product

• 7.1 Market segments
• Exhibit 44: Chart on Product - Market share 2022-2027 (%)
• Exhibit 45: Data Table on Product - Market share 2022-2027 (%)

• 7.2 Comparison by Product 
• Exhibit 46: Chart on Comparison by Product
• Exhibit 47: Data Table on Comparison by Product

• 7.3 Dark premium chocolate - Market size and forecast 2022-2027 
• Exhibit 48: Chart on Dark premium chocolate - Market size and forecast 2022-2027 ($ billion)
• Exhibit 49: Data Table on Dark premium chocolate - Market size and forecast 2022-2027 ($ billion)
• Exhibit 50: Chart on Dark premium chocolate - Year-over-year growth 2022-2027 (%)
• Exhibit 51: Data Table on Dark premium chocolate - Year-over-year growth 2022-2027 (%)

• 7.4 White and milk premium chocolate - Market size and forecast 2022-2027 
• Exhibit 52: Chart on White and milk premium chocolate - Market size and forecast 2022-2027 ($ billion)
• Exhibit 53: Data Table on White and milk premium chocolate - Market size and forecast 2022-2027 ($ billion)
• Exhibit 54: Chart on White and milk premium chocolate - Year-over-year growth 2022-2027 (%)
• Exhibit 55: Data Table on White and milk premium chocolate - Year-over-year growth 2022-2027 (%)

• 7.5 Market opportunity by Product 
• Exhibit 56: Market opportunity by Product ($ billion)
• Exhibit 57: Data Table on Market opportunity by Product ($ billion)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 58: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 59: Chart on Market share by geography 2022-2027 (%)
• Exhibit 60: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 61: Chart on Geographic comparison
• Exhibit 62: Data Table on Geographic comparison

• 9.3 Europe - Market size and forecast 2022-2027 
• Exhibit 63: Chart on Europe - Market size and forecast 2022-2027 ($ billion)
• Exhibit 64: Data Table on Europe - Market size and forecast 2022-2027 ($ billion)
• Exhibit 65: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 66: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.4 North America - Market size and forecast 2022-2027 
• Exhibit 67: Chart on North America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 68: Data Table on North America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 69: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 70: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.5 APAC - Market size and forecast 2022-2027 
• Exhibit 71: Chart on APAC - Market size and forecast 2022-2027 ($ billion)
• Exhibit 72: Data Table on APAC - Market size and forecast 2022-2027 ($ billion)
• Exhibit 73: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 74: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.6 South America - Market size and forecast 2022-2027 
• Exhibit 75: Chart on South America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 76: Data Table on South America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 77: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 78: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 79: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
• Exhibit 80: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
• Exhibit 81: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 82: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.8 US - Market size and forecast 2022-2027 
• Exhibit 83: Chart on US - Market size and forecast 2022-2027 ($ billion)
• Exhibit 84: Data Table on US - Market size and forecast 2022-2027 ($ billion)
• Exhibit 85: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 86: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.9 Germany - Market size and forecast 2022-2027 
• Exhibit 87: Chart on Germany - Market size and forecast 2022-2027 ($ billion)
• Exhibit 88: Data Table on Germany - Market size and forecast 2022-2027 ($ billion)
• Exhibit 89: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 90: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.10 China - Market size and forecast 2022-2027 
• Exhibit 91: Chart on China - Market size and forecast 2022-2027 ($ billion)
• Exhibit 92: Data Table on China - Market size and forecast 2022-2027 ($ billion)
• Exhibit 93: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 94: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.11 UK - Market size and forecast 2022-2027 
• Exhibit 95: Chart on UK - Market size and forecast 2022-2027 ($ billion)
• Exhibit 96: Data Table on UK - Market size and forecast 2022-2027 ($ billion)
• Exhibit 97: Chart on UK - Year-over-year growth 2022-2027 (%)
• Exhibit 98: Data Table on UK - Year-over-year growth 2022-2027 (%)

• 9.12 Belgium - Market size and forecast 2022-2027 
• Exhibit 99: Chart on Belgium - Market size and forecast 2022-2027 ($ billion)
• Exhibit 100: Data Table on Belgium - Market size and forecast 2022-2027 ($ billion)
• Exhibit 101: Chart on Belgium - Year-over-year growth 2022-2027 (%)
• Exhibit 102: Data Table on Belgium - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 103: Market opportunity by geography ($ billion)
• Exhibit 104: Data Tables on Market opportunity by geography ($ billion)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 105: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape
• Exhibit 106: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption
• Exhibit 107: Overview on factors of disruption

• 11.4 Industry risks
• Exhibit 108: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered
• Exhibit 109: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 110: Matrix on vendor position and classification

• 12.3 Cargill Inc.
• Exhibit 111: Cargill Inc. - Overview
• Exhibit 112: Cargill Inc. - Product / Service
• Exhibit 113: Cargill Inc. - Key news
• Exhibit 114: Cargill Inc. - Key offerings

• 12.4 CEMOI Group
• Exhibit 115: CEMOI Group - Overview
• Exhibit 116: CEMOI Group - Product / Service
• Exhibit 117: CEMOI Group - Key offerings

• 12.5 Champlain Chocolate Co. 
• Exhibit 118: Champlain Chocolate Co. - Overview
• Exhibit 119: Champlain Chocolate Co. - Product / Service
• Exhibit 120: Champlain Chocolate Co. - Key offerings

• 12.6 Chocoladefabriken Lindt and Sprungli AG 
• Exhibit 121: Chocoladefabriken Lindt and Sprungli AG - Overview
• Exhibit 122: Chocoladefabriken Lindt and Sprungli AG - Business segments
• Exhibit 123: Chocoladefabriken Lindt and Sprungli AG - Key news
• Exhibit 124: Chocoladefabriken Lindt and Sprungli AG - Key offerings
• Exhibit 125: Chocoladefabriken Lindt and Sprungli AG - Segment focus

• 12.7 Ferrero International S.A. 
• Exhibit 126: Ferrero International S.A. - Overview
• Exhibit 127: Ferrero International S.A. - Product / Service
• Exhibit 128: Ferrero International S.A. - Key news
• Exhibit 129: Ferrero International S.A. - Key offerings

• 12.8 Hotel Chocolat Group plc 
• Exhibit 130: Hotel Chocolat Group plc - Overview
• Exhibit 131: Hotel Chocolat Group plc - Product / Service
• Exhibit 132: Hotel Chocolat Group plc - Key offerings

• 12.9 Mars Inc.
• Exhibit 133: Mars Inc. - Overview
• Exhibit 134: Mars Inc. - Product / Service
• Exhibit 135: Mars Inc. - Key news
• Exhibit 136: Mars Inc. - Key offerings

• 12.10 Meiji Holdings Co. Ltd. 
• Exhibit 137: Meiji Holdings Co. Ltd. - Overview
• Exhibit 138: Meiji Holdings Co. Ltd. - Business segments
• Exhibit 139: Meiji Holdings Co. Ltd. - Key news
• Exhibit 140: Meiji Holdings Co. Ltd. - Key offerings
• Exhibit 141: Meiji Holdings Co. Ltd. - Segment focus

• 12.11 Mondelez International Inc. 
• Exhibit 142: Mondelez International Inc. - Overview
• Exhibit 143: Mondelez International Inc. - Business segments
• Exhibit 144: Mondelez International Inc. - Key news
• Exhibit 145: Mondelez International Inc. - Key offerings
• Exhibit 146: Mondelez International Inc. - Segment focus

• 12.12 Nestle SA
• Exhibit 147: Nestle SA - Overview
• Exhibit 148: Nestle SA - Business segments
• Exhibit 149: Nestle SA - Key news
• Exhibit 150: Nestle SA - Key offerings
• Exhibit 151: Nestle SA - Segment focus

• 12.13 Pierre Marcolini Group 
• Exhibit 152: Pierre Marcolini Group - Overview
• Exhibit 153: Pierre Marcolini Group - Product / Service
• Exhibit 154: Pierre Marcolini Group - Key offerings

• 12.14 Savencia SA
• Exhibit 155: Savencia SA - Overview
• Exhibit 156: Savencia SA - Business segments
• Exhibit 157: Savencia SA - Key offerings
• Exhibit 158: Savencia SA - Segment focus

• 12.15 The Hershey Co.
• Exhibit 159: The Hershey Co. - Overview
• Exhibit 160: The Hershey Co. - Business segments
• Exhibit 161: The Hershey Co. - Key news
• Exhibit 162: The Hershey Co. - Key offerings
• Exhibit 163: The Hershey Co. - Segment focus

• 12.16 Vosges Haut Chocolat Ltd. 
• Exhibit 164: Vosges Haut Chocolat Ltd. - Overview
• Exhibit 165: Vosges Haut Chocolat Ltd. - Product / Service
• Exhibit 166: Vosges Haut Chocolat Ltd. - Key offerings

• 12.17 Yildiz Holding AS
• Exhibit 167: Yildiz Holding AS - Overview
• Exhibit 168: Yildiz Holding AS - Product / Service
• Exhibit 169: Yildiz Holding AS - Key news
• Exhibit 170: Yildiz Holding AS - Key offerings

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 171: Inclusions checklist
• Exhibit 172: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 173: Currency conversion rates for US$

• 13.4 Research methodology
• Exhibit 174: Research methodology
• Exhibit 175: Validation techniques employed for market sizing
• Exhibit 176: Information sources

• 13.5 List of abbreviations 
• Exhibit 177: List of abbreviations

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