Spirulina Chocolates Market will grow by USD 209.04 million between 2023-2027, Growing prevalence of malnutrition is notably driving the market - Technavio

NEW YORK, Jan. 16, 2024 /PRNewswire/ -- The spirulina chocolates market is set to grow by USD 209.04 million from 2022 to 2027 progressing at a CAGR of 10.04% during the forecast period. The market is driven by the growing prevalence of malnutrition. Malnutrition, driven by insufficient nutrient intake, significantly affects health, immunity, and physical capabilities, leading to increased susceptibility to diseases. Spirulina-enriched products like chocolates, rich in vital nutrients, are gaining traction, addressing malnutrition concerns and fueling market growth expectations during the forecast. - Here is an Exclusive report talking about Market scenarios with a historical period (2017-2021) and forecast period (2023-2027). Download a FREE Sample Report in minutes!

The Spirulina Chocolates market is being driven by a confluence of factors catering to health-conscious consumers. Infused with Spirulina Powder, these chocolates combine the goodness of organic ingredients and dark chocolate, creating a vegan, gluten-free, and energy-boosting snack. With antioxidant properties and plant-based protein, it appeals to fitness enthusiasts. Ethical sourcing, sustainable agriculture, and artisanal craftsmanship align with the premium pricing segment. The global market trends favor innovative flavor combinations and dietary restrictions compatibility. E-commerce platforms and retail distribution, coupled with consumer awareness campaigns and quality certifications, contribute to market expansion. Eco-friendly packaging enhances the appeal, while nutritional labeling emphasizes health benefits, making Spirulina Chocolates a unique offering in the culinary experimentation landscape.

Trend

Increasing consumer spending is an emerging market trend. The global spirulina chocolate market sees a surge in consumer spending, driven by health-conscious trends favoring its nutritional benefits. Spirulina's rich composition of proteins, vitamins, and antioxidants attracts vegetarians and vegans, boosting demand for plant-based protein sources, and indicating promising market growth ahead.

Challenge

Fluctuations in raw material prices hamper market growth. Fluctuating prices of raw materials like cocoa, dairy, nuts, and sugar pose a challenge to food industries. Cocoa's price volatility, driven by geopolitical issues and climate impacts in major producing regions like the Ivory Coast and Ghana, negatively affects overall product costs, potentially impeding market growth.

Spirulina Chocolates Market 2023-2027: Market Segmentation

The spirulina chocolates market analysis includes Distribution Channel, Type, and Geography landscape. This study identifies the Business strategies adopted by vendors, the increasing consumer spending, and the increasing popularity of online retailing as one of the prime reasons driving the spirulina chocolates market growth during the next few years.

• The offline segment is significant during the forecast period. The offline segment in spirulina chocolate distribution involves physical retail outlets like supermarkets, convenience stores, and specialty shops. Supermarkets and hypermarkets offer broad product displays, while convenience stores' accessibility boosts impulse buys. These brick-and-mortar formats provide visibility and diverse customer access, fueling the market's growth prospects.

This report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources through an analysis of key parameters- View a FREE Sample Report

The spirulina chocolates market covers the following areas:

• Spirulina Chocolates Market Sizing
• Spirulina Chocolates Market Forecast
• Spirulina Chocolates Market Analysis

Companies Mentioned

• Akal
• Bio Benjamin
• Bloom Delight
• Giddy Yoyo Inc.
• Healthy Little Vittles
• Hello Chocolate
• Landish
• Lifestream NZ
• LUCHINO SRL
• MERAVIGLIE Srl
• Nestle SA
• Nurture Brands Ltd.
• Nutrezy
• Pierre Marcolini Group
• Sari Foods Co
• Sonalis Consumer Product Ltd.
• Suncore Foods Inc.
• The Algae Factory BV
• Vosges Haut Chocolat Ltd.
• ZEON BIOTECH PVT LTD.

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TOC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Distribution Channel

Market Segmentation by Type

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

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Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide 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 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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