Seasonal Chocolates Market size is set to grow by USD 9.30 billion from 2024-2028, rise in sales of seasonal chocolate during festive occasions boost the market, Technavio

NEW YORK, June 18, 2024 /PRNewswire/ -- The global seasonal chocolates market size is estimated to grow by USD 9.30 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 5.89%  during the forecast period. Rise in sales of seasonal chocolate during festive occasions is driving market growth, with a trend towards growing influence of online retailing. However, rising competition from premium chocolates  poses a challenge. Key market players include Blue Frog Chocolates, Cemoi, Champlain Chocolate Co., Chocoladefabriken Lindt and Sprungli AG, Ferrero, Gayles Chocolates, Gilbert Chocolates Inc., HAIGHS CHOCOLATES, Hotel Chocolat, Lotte Corp., Marks and Spencer Group plc, Mars Inc., Meiji Holdings Co. Ltd., Mondelez International Inc., Nestle SA, Phillips Candy, Purdys Chocolatier, Savencia SA, The Hershey Co., and Yildiz Holding AS.

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Market Driver

E-commerce has significantly expanded the reach and boosted profits for seasonal chocolate manufacturers. Online platforms support both B2C and B2B transactions, with increasing consumer spending and Internet usage driving growth. Customers appreciate secure payment methods and enhanced product visibility offered by online shopping portals. Developed countries, such as the US and Japan, lead in online chocolate purchases, contributing to the market's expansion. This trend allows vendors to reduce costs and cater to the internet-savvy customer base. 

The seasonal chocolates market experiences significant growth during specific holidays and occasions. Fathom the popularity of chocolates during days like Mother's Day, Father's Day, Halloween, Christmas, and Valentine's Day. Hallmark chocolates such as milk, dark, and white varieties, caramels, and truffles are in high demand. Kids particularly look forward to Halloween, where they collect a variety of chocolates. Customers seek unique and creative chocolate designs for special occasions. The market offers a wide range of choices, including gift boxes, personalized chocolates, and seasonal flavors. The economic situation and consumer preferences can impact the demand for seasonal chocolates. 

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Market Challenges

• The seasonal chocolates market faces moderate challenges from the increasing sales of premium chocolates. Brands like Chocoladefabriken Lindt and Sprungli AG and Ferrero International S.A. Offer a wide range of premium chocolates, which consumers prefer due to their brand reputation and quality. While premium chocolates are priced higher than seasonal chocolates, consumers are willing to pay more, especially during special occasions. For instance, Chocoladefabriken Lindt and Sprungli AG's Swiss Premium Chocolate is priced at USD18.60, compared to USD11.20 for their Valentine Day chocolate. This shift towards premiumization may hinder the growth of the global seasonal chocolates market.
• The seasonal chocolates market faces several challenges. Flavors like pumpkin, peppermint, and gingerbread require unique ingredients and production methods. Customers expect consistent quality and availability, especially during peak seasons. Chocolate types, such as white, milk, and dark, add complexity to the manufacturing process. Supply chain management is crucial to ensure timely delivery and freshness. Sustainability and ethical sourcing are also important considerations for many consumers. Sales and marketing strategies must effectively target specific seasons and consumer demographics. Overall, the seasonal chocolates market presents both opportunities and challenges for businesses.

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Segment Overview 

This seasonal chocolates market report extensively covers market segmentation by  

1. Product 
• 1.1 Dark seasonal chocolate
• 1.2 White and milk seasonal chocolate
2. Type 
• 2.1 Filled seasonal chocolates
• 2.2 Unfilled seasonal chocolates
3. Geography 
• 3.1 Europe
• 3.2 North America
• 3.3 APAC
• 3.4 South America
• 3.5 Middle East and Africa

1.1 Dark seasonal chocolate-  The seasonal chocolates market is experiencing growth due to the rising demand for dark chocolate. Dark chocolate, which contains 50%-60% cocoa and less milk, is preferred by health-conscious consumers for its health benefits. These benefits include improved cardiovascular health, better cognitive functions, and improved blood flow. Dark chocolate is also rich in fiber, antioxidants, iron, and magnesium. Major vendors are responding to this trend by increasing their dark chocolate offerings, including dairy-free, fair trade, and organic options. The popularity of dark seasonal chocolates in major markets like the US, Germany, the UK, and Belgium is driving market growth. However, the increase in raw material prices may impact prices.

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Research Analysis

The seasonal chocolates market experiences significant fluctuations throughout the year, with key holidays such as Father's Day, Mother's Day, Halloween, Easter, and Diwali driving demand. Dark, white, milk, and mixed chocolates cater to various preferences among kids and adults. The health benefits of chocolates, derived from essential minerals like Iron, Magnesium, Copper, and Flavanols, contribute to their popularity as gifting options. During the winter season, the use of Cocoa butter, Sugar, Vanilla flavorings, Whole eggs, Cream Cheese, and Cocoa beans adds to the richness and appeal of these treats. Antioxidants found in Cocoa are an added health bonus, making seasonal chocolates a delightful and thoughtful gift choice for all occasions.

Market Research Overview

The Seasonal Chocolates market is a significant segment of the global chocolate industry, characterized by the production and sale of chocolate products tied to specific seasons or holidays. These chocolates come in various forms, such as truffles, pralines, and molded shapes, and are often infused with unique flavors and ingredients to reflect the particular season or celebration. Factors driving the growth of this market include increasing consumer demand for premium and gourmet chocolates, cultural traditions surrounding chocolate consumption, and innovative product development. Additionally, the market is influenced by trends such as the use of natural and organic ingredients, sustainable production methods, and the rise of online sales channels. Overall, the Seasonal Chocolates market offers a rich and diverse range of products that cater to consumers' evolving tastes and preferences.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Product
• Dark Seasonal Chocolate
• White And Milk Seasonal Chocolate
• Type
• Filled Seasonal Chocolates
• Unfilled Seasonal Chocolates
• Geography
• Europe
• North America
• APAC
• South America
• Middle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio