Chocolate is a type of food made from roasted or ground cacao seeds which can be consumed in the form of blocks, paste or as an ingredient or flouring agent in other foods. It is typically a sweet food, but may be mildly or very bitter depending on the variety being consumed. Rich in carbohydrates, fats and vegetable proteins, chocolate is considered as a high energy food. Based on taste, it can be classified as dark chocolate, milk chocolate or white chocolate, and based on the difference in its composition; it can be classified as real chocolate or compound chocolate.
The entire market can be broadly segmented into market for cocoa production and confectionary which includes the market for chocolate. Consumption of chocolate worldwide is influenced greatly by demand patterns across different regions that are in turn affected by macro-economic factors like global GDP, global youth population, and wealth. Some of the recent trends in the global markets are in line with the global cocoa shortfall, thus changing consumption patterns and preferences. However, an alteration in chocolate compositions, necessitated by this shortage, has ensured sustained demand. Rising cocoa prices and nutritional concerns may still pose a challenge to this market.
The report “Global Chocolate Market” analyzes the development of this market, with focus on the U.S, the U.K, China and Switzerland. Major trends, growth drivers as well as issues being faced by the industry are discussed in detail in the report. The four major players of the industry, Nestle, Lindt & Sprungli, Hershey and Barry Callebaut have been profiled along with their key financials and strategies for growth.
Future trend in the global chocolate market has been forecasted by combining SPSS Inc.’s data integration and analysis capabilities. Regression models have been created by employing various significant variables that have an impact on the market. Before deploying the regression model, the relationship between several independent or predictor variables and the dependent variable was analyzed using standard SPSS output, including charts, tables, and tests.