White Chocolate Market size to grow by USD 1.78 Bn | Driven by increasing premiumization of chocolates | Technavio

The demand for white chocolate is expected to increase over the forecast period with rising disposable incomes coupled with increasing awareness. For instance, consumers in South America are getting more educated and increasingly seeking premium chocolate products such as white chocolates. Similarly, the market is witnessing strong growth in developing regions such as Africa with the proliferation of hypermarkets and supermarkets that sell premium varieties of chocolates. In addition, vendors are offering new and innovative products, which is generating more revenue in the market.

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White Chocolate Market: Increasing premiumization of chocolates
The increasing consumer awareness about the negative effects of the presence of synthetic ingredients in food products has been creating the demand for organic, sugar-free, vegan, and gluten-free chocolates. This shift is encouraging chocolate brands to launch a wide range of premium chocolates to attract consumers who are influenced by price, packaging, ingredients, exclusivity, and provenance. The demand for such products is high in developed countries and is gaining more traction in emerging economies such as China, India, and Brazil. The untapped potential in these countries is encouraging many prominent vendors such as Mars, Barry Callebaut, and Mondelez International to expand their presence by offering premium products. All these factors are expected to drive the growth of the global white chocolate market during the forecast period.

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Regional Market Analysis
With 43% of the growth originating from Europe, the region will record a slower growth rate than in APAC during 2020-2025.

The growing health awareness and high demand for premium chocolates are expected to boost the growth of the white chocolate market in Europe. The region is home to some of the largest chocolate manufacturing countries in the world. In addition, factors such as increasing product innovations and launches and the presence of major chocolate brands are contributing to the growth of the regional market.

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White chocolate Market: Segmentation Analysis
This market research report segments the white chocolate market by product (white chocolate bars, white chocolate bulk, and white chocolate truffles) and geography (Europe, North America, APAC, South America, and MEA).

The white chocolate bars segment accounted for maximum sales in 2020. The segment is driven by product innovations and the launch of new products by vendors. For instance, in August 2021, Cadbury announced three new white chocolate delights in the UK, with the White Chocolate Block, the White Buttons, and the White Chocolate Freddo Treasures. Similarly, other vendors are offering white chocolate bars entirely made from cocoa butter, sugar, and milk or contain filling and flavoring ingredients such as nuts, caramel, nougat, fondant, vanilla, orange, coffee, butterscotch, honey, and mint. Such product offerings are driving the growth of the segment.

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Related Reports:

Dark Chocolate Market by Distribution Channel and Geography - Forecast and Analysis 2021-2025

Chocolate Confectionery Market by Product and Geography - Forecast and Analysis 2021-2025

Some of the key topics covered in the report include:

Market Challenges

Market Drivers

Market Trends

Vendor Landscape

• Vendors covered
• Vendor classification
• Market positioning of vendors
• Competitive scenario

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