LONDON, Feb. 11, 2020 /PRNewswire/ -- Analysis by Product Type (Milk/White Chocolate and Dark Chocolate), by Distribution Channel (Supermarkets/Hypermarkets, Specialist Retailers, Convenience Stores, and Online Channels), by Sales Category (Everyday Chocolate, Premium Chocolate and Seasonal Chocolate), Company and Country Analysis and Forecasts
Market Definition: • Chocolates are the most consumed and profitable component of the confectionery industry. • Different ranges of chocolates are produced based on the quantity of cocoa. • Chocolates have been sourced as one of the excellent pressure suppressants and anti-ageing confectionery items.
Market Overview and Trends • China, India, and Brazil are offering new variety of chocolates to improve differentiation, personalization, and premiumization of chocolates. • Seasonal and festive sales of chocolate are increasing through the years. • The key market trends in coming years will be the demand for organic, vegan, sugar-free, and gluten-free chocolates. • Milk chocolates demand have increased due to its benefit in reducing cardiovascular diseases.
Factors Influencing the Market Growth: • Increase in demand for premium and seasonal chocolates during festive seasons has increased over the years. • Consumers are preferring premium chocolates as gifts as they are more conscious about the brand and quality they consume. • The rising income levels of the consumers and the changing lifestyles are the key factors resulting in the increase in purchase. • Health benefit awareness such as antioxidants-enrichment, blood pressure-suppressing character, anti-ageing properties, stress reliever, among the consumers have increased the demand. • Also, chocolate-flavoured milk, drinks, bakery products, ice creams, functional foods, and liquor chocolates will increase the market over the next few years.
Factors Restraining the Market Growth: • Chocolates are considered to be a luxury product in some of the regions resulting in the less demand owing to the price of the product. • The uncertain economy of the cocoa supply is likely to raise chocolate prices.
Focused regional forecasts and analysis explore the future opportunities: • North America Market, 2019-2029 • Europe Market, 2019-2029 • Asia-Pacific Market, 2019-2029 • LAMEA Market, 2019-2029
Competitive Analysis: • The global chocolate market is highly competitive, with the presence of numerous leading players accounting for the major share. • The new product launch is the preferred strategy in the global market. • Manufacturers are attracting customers via ingredients, exclusivity, price, provenance, and packaging to attain maximum sales.
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Companies covered in the report include:
Cadbury Dove Chocolate Droste Ferrero Ghirardelli Chocolate Company Godiva Chocolatier Green & Black's Guittard Chocolate Company Kinder Kraft Foods Kraš Lindt & Sprüngli Lotte Marou Mars, Incorporated Meiji Milka Nestlé Ritter Sport See's Candies The Hershey Company Tootsie Roll Industries Valrhona Whittakers Wilbur Chocolate Company