Azoth Analytics has released a research report named “Global Chocolate Retail Market (2023 Edition)” which provides a complete analysis of the global Chocolate Retail industry in terms of market segmentation by product type (dark chocolate, milk chocolate, white chocolate, ruby chocolate), form (bars, liquid, powder), distribution channel (supermarkets, hypermarkets, convenience stores, others), by region and by country.
The research study also looks at the market growth indicators, restraints, supply and demand risk, and other important statistics, as well as a full assessment of current and future market trends that are relevant to the market evolution. During the forecast period, 2023-2028, the Global Chocolate Retail Market is expected to expand at a CAGR of 5.9%. Increasing disposable income, change in eating preferences and the developing trend of gifting chocolates on festivals and occasions are driving the global chocolate retail market.
The Global Chocolate Retail Market is expected to generate USD 176.20 billion by the end of 2028, up from USD 111.23 billion in 2021. As per European Union estimates, the world’s average chocolate consumption amounts to an estimated 0.9 kg per capita per year. Chocolate retail has grown to be a multibillion-dollar industry, backed by rising per capita consumption of chocolate and chocolate products among all age groups.
Chocolate is a vibrant and inventive market, with over 5,000 new products released in retail globally in 2021 alone. The majority of chocolate is sold via supermarkets and other grocery shops. Convenience stores are very easy to approach as they are located nearby residential and commercial areas and generally offer affordable chocolates. The growing number of consumers interested in upcoming trends like organic chocolate and chocolates with no added sugar are supporting such trials, boosting the chocolate retail market.
The research is global in nature and covers a detailed analysis of the market in America (U.S., Canada, Brazil, Rest of the Americas), Europe (Germany, U.K, France, Switzerland, Rest of Europe), Asia-Pacific (China, Japan, Australia, Rest of Asia-Pacific), and the Middle East and Africa. Additionally, the research report displays data including market size, yearly growth & potential analysis, the competitive study of market players, investment opportunities, demand for future forecast, and so on.
Moreover, chocolate confectionery is a consolidated market dominated by a handful of global companies such as Nestle, Lindt, Hershey, with profitable oligopolies in different regions. Customer experience represents every touchpoint with a brand, including accessing them via physical stores, customer support, and direct product interaction.
Chocolate companies are now seeing some consumer behavior change, preferring candy bars. Chocolate candy category innovation is booming, offering convenience store retailers an opportunity to grow chocolate sales by stocking limited-time offers alongside tried-and-true customer favourites. Chocolate’s antioxidant content, blood pressure-lowering capabilities, and ostensibly anti-ageing benefits are all driving consumer acceptance of dark chocolates.
Europe accounts for almost half of the chocolate market. In the UK, France, Germany, Switzerland, Belgium, the Netherlands, and Italy, the "dark chocolate revolution" has been gaining traction. In addition to driving the market for dark chocolate in Europe, the rising number of new vendors entering the market for dark chocolate and the rising number of innovative products containing dark chocolate will also boost the region’s overall chocolate market. Moreover, China and India hold great potential in chocolate retail as the countries are among the fastest growing in coming years backed by changing food safety regulations and surging demand for affordable and premium chocolates. Chocolate maker Mars is planning to expand its product portfolio and footprint across 6000 cities in India. For instance, An India-only variant, Snickers Berry Whip, a strawberry-flavored bar, has just been launched.
This study also provides the competitive landscape of the industry and profiles some of the leading players in the Global Chocolate Retail Market like Mondelez International, Inc., Hershey Company, Ferrero International S.A., Mars Incorporated, Nestle S.A., Chocoladefabriken Lindt & Spr?ngli AG, Meiji Holdings Co., Ezaki Glico Co. Ltd., Orion Corporation, Yildiz Holding. The company profiling includes critical information such as a business overview, products and services, key financials, and recent events and developments. Overall, the report provides a detailed overview of the Global Chocolate Retail Market, which will assist industry consultants, manufacturers, existing players looking for expansion opportunities, new players looking for opportunities, and other stakeholders in aligning their market-centric strategies with current and expected future trends.
Scope of the Report
- The report presents the analysis Global Chocolate Retail Market for the historical period of 2018-2021, the estimated year 2022 and the forecast period of 2023-2028.
- The report analyses the of Global Chocolate Retail Market by Product Type (dark chocolate, milk chocolate, white chocolate, ruby chocolate).
- The report analyses the Global Chocolate Retail Market by Form (bars, liquid, powder).
- The report analyses the Global Chocolate Retail Market by Distribution Channel (supermarkets, hypermarkets, convenience stores, others).
- The Global Chocolate Retail Market has been analyzed by region and countries including in Americas (U.S., Canada, Brazil, Rest of Americas), Europe (Germany, U.K, France, Switzerland, Rest of Europe), Asia-Pacific (China, Japan, Australia, Rest of Asia-Pacific), and Middle East and Africa.
- The key insights of the report have been presented through the frameworks of SWOT and Porter’s Five Forces Analysis.
- Also, the major opportunities, trends, drivers and challenges of the industry has been analyzed in the report.
- The report tracks competitive developments, strategies, mergers and acquisitions and new product development. The companies analyzed in the report include Mondelez International, Inc., Hershey Company, Ferrero International S.A., Mars Incorporated, Nestle S.A., Chocoladefabriken Lindt & Spr?ngli AG, Meiji Holdings Co., Ezaki Glico Co. Ltd., Orion Corporation, Yildiz Holding.
Key Target Audience
- Chocolate Producers and Retailers
- Consulting and Advisory Firms
- Government and Regulatory Authorities