#Chocolate Market Size
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Chocolate Market - Forecast (2022 - 2027)
Chocolate Market Overview
The Chocolate Market size was valued at $147.8 billion in 2019 and is poised to grow at a CAGR of 5.31% during the forecast period 2020-2025. Chocolate is prepared using cacao seeds. They are roasted and formed in liquid, paste, or block shapes. The most common type of chocolate that is widely available in the market includes dark chocolate, milk chocolate, and white chocolate.
The procedure of making chocolate comprises numerous steps such as cacao cultivation, harvesting, fermentation, drying & shipping, and producing chocolates. With the growing population, increasing urbanization, and easy availability of the Chocolate products, the market is set to grow worldwide.
Chocolate Market Report Coverage
The report: “Chocolate Market Forecast (2020-2025)”, by Industry ARC, covers an in-depth analysis of the following segments of the Chocolate Market.
By Type: Dark Chocolate, Milk Chocolate. White Chocolate, Unsweetened Chocolate, Others
By Category: Everyday Chocolate, Premium Chocolate, Seasonal Chocolate,
By Product: Boxed Assortments, Choco Panned, Count Lines, Molded Chocolates, Soft lines/ Self lines, Others
By Application: Bars, Beverages
By Distribution Channel: Convenience Stores, Independent Retailers, Online Channels, Supermarket/Hypermarket, Vending Machines, Others
By Geography: North America, Europe, Asia-Pacific, and Rest of the World (RoW)
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Key Takeaways
Geographically, North America dominated the global chocolate market in 2019, owing to the increasing consumer demand in the region.
In the Asia-Pacific region, India has seen changing consumer preference over seasonal and premium chocolates during festive seasons instead of traditional Indian sweets, which is set to augment chocolate demand in the forecast period 2020-2025.
The Appealing packaging and color enable the manufacturer to receive a fast, spontaneous response from consumers. Purple was ranked as the most prominent color accompanied by red and blue to promote the buying of chocolate goods.
By Type - Segment Analysis
Based on type, the global chocolate market has Milk Chocolate, Dark Chocolate, White Chocolate, Unsweetened chocolate, and others. Milk chocolate segment holds the largest market share followed by dark chocolate in the global chocolate market. Milk chocolate has liquid milk, powdered milk, or condensed milk form added in it along with flavoring ingredient. Milk chocolate boosts memory, cuts the risk of heart strokes, hydrates and smoothens the skin. Dark chocolate comprises over 50% cocoa content, which helps in reducing the risk of cardiovascular diseases and improving blood flow. It also consists of a bioactive compound that promotes healthy and glowing skin. Owing to the above reasons, demand for Dark chocolate is increasing and it is poised to grow with the highest CAGR for the forecast period (2020-2025).
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By Distribution Channel - Segment Analysis
Based on the distribution channel, the global chocolate market has Convenience Stores, Independent Retailers, Online Channels, supermarkets/ hypermarkets, Vending Machines, and others. The independent retail store was leading in terms of market share in 2019, owing to presence of high middle-income group. Convenience stores represent the largest segment followed by supermarkets and hypermarkets owing to the rising number of health-conscious consumers, expanding the working population, and increasing urbanization are boosting the country’s chocolate market. Apart from normal stores, e-commerce is the next promising sector for the growth of the chocolate market. The growing online sales of chocolates, and increasing demand for premium chocolates, is the key driver for the market. By Geography - Segment Analysis
The global Chocolate Market by geography had the dominant share in North America, in terms of revenue in 2019. North America chocolate market occupies a major share owing to the presence of world-renowned brands and higher chocolate consumption. The festivals such as Christmas, Good Friday, and others are set to fuel the demand for chocolates and increase the sale of chocolates.
The Asia-Pacific region is poised to grow at a higher CAGR over the forecast period (2020-2025). The increasing influence of western culture and food habits, followed by the rapid increase in population rate, are the significant factors that is set to drive the market growth in this region.
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Drivers – Chocolate Market
Growing awareness of the health benefits of pure and dark chocolate
The pure and dark chocolate helps in preventing cardiac diseases, in addition to other benefits like improving blood flow and glowing the skin. These reasons make the young population, the chocolate lovers show great potential for varying kinds of chocolates in the global scenario which is set to drive the chocolate market in the forecast period 2020-2025.
Rising disposable income of the population in developing countries
The growing disposable income of consumers in developing countries of Asia Pacific is one of the primary reasons behind the mounting demand for chocolates. In countries such as South Korea, Japan, India, and China, the presence of a large population, with an increase in urbanization is set to increase the demand for the chocolate market.
Challenges – Chocolate Market
Expensive raw materials and uncertain climatic condition
Fluctuating prices of raw materials, especially cocoa, the instability of its supply, and the political instability in cocoa-producing countries are likely to act as a challenge for the growth of the market over the forecast period 2020-2025. Factors such as changing customer’s preferences in flavor from time to time is also a challenge for the growth.
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Chocolate Industry outlook:
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Chocolate Market. Key companies of this market are Mars, Incorporated, Ferrero, Mondelez International, The Hershey Company, Nestle SA, Arcor Group, The Kraft Heinz Company, Ghirardelli Chocolate Company, Moonstruck Chocolate, Ezaki Glico Co Ltd., among others.
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#o-ver-pow-ered. that spells op#very okay to reblog because the entire gimmick is in my username#7 day poll#polls#the bulk jar of hot chocolate powder has more maltodextrin (anti-caking agent that tastes sweet in a unique way) than regular#but they don't have regular sizes at this freezer shop iirc. it's a wholesale type market. costco w/o membership
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United States Chocolate Market Size, Share, Growth ⅼ Forecast (2024 - 2032) ⅼ Renub Research
The United States chocolate market changed into US$ 34.03 billion in 2023 and will reach US$ 47.56 billion by 2032, with a CAGR of 3.9% throughout 2024–2032.
The confectionery marketplace in the US is experiencing an increase because of the growing demand for sweets, broadly endorsed with the aid of consumer preferences. The reputation of dark, milky, and white chocolates has surged through the…
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#United States chocolate market#United States chocolate market by distribution channels#United States chocolate market by type#United States chocolate market share#United States chocolate market size
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Chocolate Milk Market: Forthcoming Trends and Share Analysis by 2030
The Global Chocolate Milk Market was valued at USD 8.52 Billion in 2021, and it is projected to reach USD 11.76 Billion by 2028, registering an estimated CAGR of 4.70% during 2021- 2028.
Chocolate milk appeals to a wide range of consumers, including children, teenagers, athletes, and health-conscious adults. Its popularity stems from its combination of familiar flavors with the nutritional benefits of milk. While chocolate milk is often perceived as a treat, it also offers essential nutrients such as calcium, protein, and vitamins. Some brands have capitalized on this by marketing chocolate milk as a post-workout recovery drink due to its protein content. Chocolate milk is readily available in various forms, including pre-packaged bottles, cartons, and powdered mixes. This convenience factor contributes to its popularity as an on-the-go beverage option. Manufacturers continue to innovate within the chocolate milk market by introducing new flavors, formulations (such as lactose-free or plant-based options), and packaging designs to cater to evolving consumer preferences.
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Updated Version 2024 is available our Sample Report May Includes the:
Scope For 2024
Brief Introduction to the research report.
Table of Contents (Scope covered as a part of the study)
Top players in the market
Research framework (structure of the report)
Research methodology adopted by Worldwide Market Reports
Moreover, the report includes significant chapters such as Patent Analysis, Regulatory Framework, Technology Roadmap, BCG Matrix, Heat Map Analysis, Price Trend Analysis, and Investment Analysis which help to understand the market direction and movement in the current and upcoming years.
Leading players involved in the Chocolate Milk Market include:
Amul(India), Arla Foods (Denmark), Dairy Farmers of America Inc. (US), Dean Foods (Texas), Groupe Danone(France), Inner Mongolia Yili Industrial Group (China), Nestle SA (Switzerland), Royal FrieslandCampina (Netherlands), Saputo Inc (Canada), The Hershey Company (US), Maryland & Virginia Milk Producers Cooperative Association Inc. (US), The Coca-Cola Company (US), Mars Incorporated (US), other major players.
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Segmentation of Chocolate Milk Market:
By Type
Dairy-Based Chocolate Milk
Non-Dairy Based Chocolate Milk
By Distribution Channel
Supermarket/ Hypermarkets
Convenience Stores
Other Distribution Channels
Market Segment by Regions: -
North America (US, Canada, Mexico)
Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)
Middle East & Africa (Turkey, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa)
South America (Brazil, Argentina, Rest of SA)
Highlights from the report:
Market Study: It includes key market segments, key manufacturers covered, product range offered in the years considered, Global Chocolate Milk Market, and research objectives. It also covers segmentation study provided in the report based on product type and application.
Market Executive Summary: This section highlights key studies, market growth rates, competitive landscape, market drivers, trends, and issues in addition to macro indicators.
Market Production by Region: The report provides data related to imports and exports, revenue, production and key players of all the studied regional markets are covered in this section.
Chocolate Milk Profiles of Top Key Competitors: Analysis of each profiled Roll Hardness Tester market player is detailed in this section. This segment also provides SWOT analysis of individual players, products, production, value, capacity, and other important factors.
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#Chocolate Milk#Chocolate Milk Market#Chocolate Milk Market Size#Chocolate Milk Market Share#Chocolate Milk Market Growth#Chocolate Milk Market Trend#Chocolate Milk Market segment#Chocolate Milk Market Opportunity#Chocolate Milk Market Analysis 2024
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The cocoa and chocolate industry encompasses the cultivation, processing, manufacturing, and distribution of cocoa beans and chocolate products. It's a global industry worth billions of dollars, with key players located in various regions around the world. With growing awareness about health, an increasing number of consumers are prioritizing their health and following specific diets with specific needs.
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The Ultimate Guide to Finding Italy's Top Food Hotspots
🍝 Dive into Italy's culinary magic! From hidden gems to menu hacks, our blog is your bite-sized guide to a delicious adventure. Join us on Tumblr for a taste of Italy's rich culture! 🇮🇹🍕 #ItalianFood #TasteOfItaly
I. Introduction: Embarking on an Epicurean Odyssey
Welcome, fellow food enthusiasts, to a tantalizing expedition through the sun-soaked streets and rolling hills of Italy—an odyssey designed to tease your taste buds and ignite a passionate affair with food.
In the realm of culinary adventures, few places evoke as much fervor and delight as Italy—a country where each bite whispers tales of…
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#adventure#Alba#aroma#bite sized#Bologna#Bolognese sauce#bustling markets#calcioni#chocolate#comforting food#cooking#creamy ricotta#culture traditions#dishes#Emila-Romagna#espresso#essence#Fahion meets flavour#finest cuisine#flavors#flavourful#food#food tours#gormet#hoyspots#Italian#italy#Italy&039;s culinary#kitchen secrets#local food
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Global Premium Chocolate Market Size Was Valued at USD 34.71 Billion In 2022 And Is Projected to Reach USD 71.74 Billion By 2030, Growing at A CAGR of 9.5% From 2023 To 2030.
Premium Chocolate Market- Comprehensive Study Report & Recent Trends | IMR
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࿐ ࿔ 🕰️ 「 03:12 A.M 」
tw: pregnancy. just a little something based on ask~ gojo annoys you on daily basis, so now you return the favor and he can't refuse it bc you're his baby mama😋
a part of gojo's love entries
“satoru— your baby is hungry,” you pouted, poking his cheek repeatedly. “sa-to-ru!!”
it was 3 in the morning, and ideally, you would have been sleeping... only that suddenly you were awoken by rumbles from your growing belly.
yet your husband was still sound asleep without any care in the world, prompting you to poke him until you succeeded in making him hear you out.
satoru begrudgingly cracked his eyes open, still having his face tucked under the blanket and yawning. “ngh, sweets… what is it?”
his sleepy voice was thick, low and raspy. usually you’d swoon and leave a hickey or two on his neck but not now, as the overwhelming hunger made you almost curl.
“baby is craving mochi,” you said, eyes shining up to him ever so innocently. “get it for me, satoruuu.”
“oh?” if he wasn’t awake before, now he was after hearing your nagging tone drawling his name. he faced you and drew you closer. “what do you want again, hmm?”
“ice cream mochi!!”
“oooh that.” satoru scratched his head at the memory of him eating the last of it yesterday. “but we ran out of them, sweetheart… wait till morning, yeah? i’ll go to market to get some.”
“but...”
“can’t baby wait a few more hours, hmm?”
“no! want it— now!”
satoru blinked at your insistence. you looked positively adorable while sulking at him too.
“why mochi all of sudden, huh?” he decided to humor you. “you used to say they taste bland.”
“that’s because of your sperm infecting me,” you sullenly accused. “and don’t pretend you haven’t been feeding me mochi for weeks. baby likes it more than i thought.”
“hey! don’t bash my sperm! they did no wrong and completed the deed splendidly!”
“you’re just a one-time donor, don’t be smug.”
he whined and you huffed, before suddenly your stomach grumbled loudly and you curled up. “mmhm.”
“hey… what’s wrong?” satoru quickly sat up and placed his hand on your baby bump. “really hungry? wait, i’ll get you something to nibble on first.”
he rummaged through his work uniform and found several bite-sized chocolate bars he brought around, and unwrapped the foil. “here.”
you immediately devoured the treat to sate your hunger, but still, your baby longed for more—
“mochi…” you mumbled despondently, your expression turning heartbroken. and one second later satoru realized how much he wanted to squeeze your cheeks, and relented.
“okay, okay, sweets~” he gave your head several comforting pats, making you look up. “i’ll go and get the mochi, yeah? you stay put and wait for me, 'kay?”
“yay.” a little smile bloomed in your face and satoru chuckled, finding you so unbearably endearing.
and so, for you, he ventured out to the closest 24-hour convenience store, picking up some ice cream mochi along with other treats to replenish your stock, before teleporting back home.
he was expecting that you'd still be all sulky while waiting for him, but instead, he found you peacefully asleep, hogging his pillow.
each breath that caused your chest to rise and fall made you appear all the more vulnerable and soft in his eyes.
you looked so irrevocably precious to him. his sweet little wife... in that moment, satoru felt like he was the luckiest man alive, getting to have you as his.
“you naughty girl.” he let out an amused laugh before reclaiming his spot next to you. the hold you had over him— you made him go through the cold night air, and now you were monopolizing his pillow and he had to resume sleeping without one at all.
and yet all he could feel was love. for you and your baby, as he pulled you close to his chest.
“both of you sure love teaming up against me, huh?”
#𝑙𝑜𝑣𝑒 𝑒𝑛𝑡𝑟𝑖𝑒𝑠#gojo x reader#gojo satoru x reader#jujutsu kaisen#jjk x reader#jjk drabbles#jjk crack#gojo satoru#satoru x reader#jjk imagines#jujutsu kaisen x reader#satoru gojo x reader#gojo satoru fluff#jjk fluff#gojo x you#satoru gojo fluff#jjk x reader fluff#gojo fluff
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Chocolate Syrup Market Segmented On The Basis Of Type, Distribution Channel, Region And Forecast 2030: Grand View Research Inc.
San Francisco, 24 July 2023: The Report Chocolate Syrup Market Size, Share & Trends Analysis Report By Type (Conventional, Organic), By Distribution Channel (B2C, B2B), By Region, And Segment Forecasts, 2022 – 2030
The global chocolate syrup market size is expected to reach USD 12.2 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR…
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#Chocolate Syrup Industry#Chocolate Syrup Market#Chocolate Syrup Market 2023#Chocolate Syrup Market 2030#Chocolate Syrup Market Revenue#Chocolate Syrup Market Share#Chocolate Syrup Market Size
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North-American Industrial Chocolate Market Trends, CAGR, Volume and Value forecast year 2022-2030
Market Scope
Market Research Future (MRFR) assessed the North American industrial chocolate market 2022 till 2030. According to MRFR analysis, the North American industrial chocolate market is expected to expand at 5.45% CAGR in the review tenure (from 2022 to 2030). By 2030, the North-American industrial chocolate market value is likely to touch USD 42.56 billion.
Market Drivers and Restraints
The growth of the industrial chocolate market in North America can be credited to several causes. The surge in disposable income of people in the region supporting the high standard of living is observed to have considerable impact on the expansion of the market. The upscaling demand for food and beverages of diverse taste, along with their rise in industrial applications is expected to favor the North American industrial chocolate market share by 2030.
Market Segmentation of North American Industrial Chocolate Market
The deep-dive segment analysis of the industrial chocolate in North America offers crucial insights to make effective decisions by investors. The market for industrial chocolate is studied for application and types. The type-based segments of the North American industrial chocolate market are white, dark, and milk. The application-based segments of the North America industrial chocolate market are flavoring ingredients and chocolate bars.
The surge in preference and consumption of dark chocolate can be attributed to the rise in cognizance about its health benefits. Dark chocolate is a rich source of copper, iron, and magnesium. As stated by the National Institute of Mental Health, a significant group of people in the US is identified to suffer from anxiety disorder. Consuming dark chocolate can boost brain serotonin, thus acting as an antidepressant. Dark chocolate releases endorphins in the body that offer a feel-good effect helping people in relief anxiety.
Regional Analysis of North American Industrial Chocolate Market
MRFR data reveals that the U.S is expected to dominate the North American industrial chocolate, garnering the highest revenue. Canada and Mexico are expected to earn considerable revenue for the market in the years to come. North America Industrial chocolate market trends is expected to generate turnover of above USD 20,200 million by 2030 from USD 14,756 million in 2016.
Manufacturers are positioning chocolate as a healthier product as they are introducing new products with high content of dark chocolate, nuts, and fruits among other ingredients to avail food solutions with high nutritive value and low-calorie indulgence. This is expected to cause the expansion of the market in the years to come as the U.S. is expected to lead the North American market for industrial chocolate.
Chocolate cups that are baked by premium bakeries in North America have enhanced aesthetic value. These stores also serve mousse, puddings, and custards among other chocolate-based desserts that are gaining high popularity among people owing to their high-income customer basec can promote the market growth in the years to come.
The traditionally used ball roasters for making chocolate have been widely used but are now being replaced by fluid bed roasters that offer greater production efficacy. The availability of advanced technology and the increasing demand for industrial chocolate among people can prompt the market upsurge in the years to come. The growing utility of fluid bed roasters in large industrial environments due to their conducive characteristics, huge capacity to roast a large volume of beans at one time, and high roasting temperature, are some features that are crucial for chocolate production. The rapid rate of adoption of fluid bed roasters is expected to underpin the North American industrial chocolate market by 2030.
On the contrary, price volatility of raw materials is observed to impact the production cost of industrial chocolate that is likely to restrain the profitability of manufacturers in the North America region. However, cocoa is a key ingredient in the production of chocolate products and has no substitute. Thus, fluctuation in their price might not have a devastating impact on the market. Issues with import and logistics in North America owing to certain political and economic aspects can add to the slow-paced growth of the industrial chocolate market over the forecast tenure.
North American Industrial Chocolate Key Players
MRFR profiled some effective key North American industrial chocolate market players. They are Alpezzi Chocolate, Ferrero, Ghirardelli, Republica del Cacao, Mondelez, Scharffen Berger, Mars, Blommer, Cargill, Puratos, Foley’s Candies LP, Nestle SA, Barry Callebaut, Hershey, Valrhona, and Guittard Chocolate Company.
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Wine Chocolate Market Report Explored in Latest Research
According to a new report published by Allied Market Research, titled, “wine chocolate market by form, wine type, and distribution channel: global opportunity analysis and industry forecast, 2021–2030,” the global wine chocolate market was valued at $752.0 million in 2020, and is projected to reach $1,473.4 million by 2030, registering a CAGR of 7.2% from 2021 to 2030.
Wine chocolate is a very niche category product mostly popular in the European countries where the per capita consumption of both wine and chocolates is high. Wine chocolate is a blend of wine and chocolates that perfectly complements each other in terms of taste. The most common and the popular blend is the red wine with dark chocolate. The wine chocolates are available in wine like bottles in the liquid form and chocolate like boxes in the solid form. Both of these forms are actually a wine infused chocolate.
The growing demand for chocolates across the globe is a major factor boosting the demand for wine chocolates among the population. North America and Europe are the major consumers of wine chocolate owing to increased disposable income, increased consumer awareness, rising awareness regarding the health benefits of wine chocolates, and higher demand for the premium chocolate products. The unique blend of wine and chocolate and its unique and aromatic taste attracts the chocolate and wine enthusiasts. Therefore, the market has a high growth potential, especially in the developed markets.
Wine and chocolate are well-known for their health benefits such as weight management, reduce bad cholesterol, lower blood pressure, improve blood circulation, prevent cancer, and improve heart health. The rising awareness among the global consumers regarding the health benefits associated with consumption of wine chocolate is expected to foster the wine chocolate market growth in the upcoming years. Moreover, rising demand among the young population for its unique taste and a perfect gifting item is boosting the growth of the global wine chocolate market.
However, there are certain factors that may hamper the growth of the wine chocolate market. The low awareness regarding the availability and health benefits of wine chocolates and low purchasing capacity of people in the underdeveloped and developing economies may hamper the growth of the market during the forecast period.
According to the wine chocolate market analysis, the market is segmented on the basis of form, wine type, and distribution channel. Based on form, the market is segregated into liquid and solid. On the basis of wine type, the market is segmented into red wine, white wine, and others. Depending upon the distribution channel, the market is categorized into supermarkets/hypermarkets, specialty stores, and e-commerce. Region wise, the market is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, Belgium, France, the UK, Italy, Spain, Switzerland, and rest of Europe), Asia-Pacific (China, Japan, India, Singapore, and rest of Asia-Pacific), and LAMEA (Brazil, the United Arab Emirates, and rest of LAMEA).
As per the wine chocolate market forecast, based on form, the liquid segment dominated the market in 2020, garnering the highest global market share. This is attributable to the increased demand for the liquid wine chocolate among the consumers as an after-dinner drink. The solid segment is expected to be the fastest-growing segment in this market due to rising demand among the chocolate lovers for premium chocolate products.
Explore More @ https://www.alliedmarketresearch.com/wine-chocolate-market-A14197
According to the wine chocolate market trends, based on the wine type, the red wine segment dominated the market with a highest share in 2020. The red wine is extremely popular among the consumers and it is one of the most desirable type of wine combined with dark chocolate preferred by consumers. Therefore, its immense popularity has made this segment the market leader and is expected to sustain its position during the forecast period.
Depending upon the distribution channel, the e-commerce segment is estimated to witness the highest growth rate during the forecast period. This is owing to rising adoption of smart devices, rising penetration of internet, and growing popularity of various food delivery platforms and e-commerce platforms across the globe.
Region wise, Europe dominated the global wine chocolate market. This is attributable to the increased per capita consumption of wine and chocolates in the top European countries such as Germany, France, Italy, Portugal, Sweden, and Switzerland. The wine chocolate is gaining rapid traction among the European consumers, and Europe is expected to retain its leading position throughout the forecast period. North America is estimated to be the fastest-growing market owing to rising awareness regarding wine chocolates, demand for healthy food, and rising demand for premium and luxury products among the population.
Key Players:
Players operating in the global wine chocolate industry have adopted various developmental strategies to expand their market share, exploit the wine chocolate market opportunities, and increase profitability in the market. The key players profiled in this report include Underberg AG, Duc d’O, Alfred Ritter, NEUHAUS, Raaka, Toms International, Ferrero S.p.a., Yildiz Holdings, Amedei Tuscany, and Halloren.
Key findings of the study
The global wine chocolate market was valued at $752.0 million in 2020, and is projected to reach $1,473.4 million by 2030, registering a CAGR of 7.2% from 2021 to 2030.
By form, the solid segment is estimated to witness the fastest growth, registering a CAGR of 7.7% during the forecast period.
In 2020, depending on wine type, the red wine segment was valued at $350.9 million, accounting for 7.1% of the global wine chocolate market share.
In 2020, the U.S. was the most prominent market in North America, and is projected to reach $327.2 million by 2030, growing at a CAGR of 6.4% during the forecast period.
#Wine Chocolate Market#Wine Chocolate Market Size#Wine Chocolate Market Share#Wine Chocolate Market Growth#Wine Chocolate Market Key Players
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North America Chocolate Market Driven By Rising Demand In Variety Of Applications As Confectionery And Flavored Eatables
The North America chocolate market is expected to reach USD 57.4 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 4.3% from 2022 to 2030. The health advantages of dark chocolate intake, together with rising demand for this product in a variety of applications such as confectionery and flavored eatables, are expected to drive the growth of North America chocolate market. Chocolate is becoming more popular as moderate consumption of chocolate increases serotonin, which soothes the brain and functions as an antidepressant. It also causes the release of endorphins in the body, which rapidly improves mood. This, in turn, is propelling market expansion.
Gain deeper insights on the market and receive your free copy with TOC now @: North America Chocolate Market Report
Rising demand from children as a result of enhanced marketing through social media and television commercial channels by confectionery firms is driving the market expansion. The growing popularity of chocolates as a token of love, appreciation, and happiness that are given as gifts during the holiday season, primarily attracts consumers. Further, packaging, ingredients, authenticity, and the are buying experience, is also expected to boost the chocolate demand. This, in turn, is propelling market expansion.
The milk chocolate segment contributed a majority of the share to become the largest division in the global revenue in 2021. Milk chocolate is popular in North America as it is sweeter and has a softer texture than dark chocolate, but not as sweet and soft as white chocolate. Milk chocolate has a shelf life of roughly 16 months when properly kept. It can also be used in baking when a lighter chocolate flavor is desired.
The online segment is expected to register a faster CAGR from the year 2022 to 2030. The demand from e-commerce platforms has increased due to rising customers’ desire for premium chocolate. Wide availability of premium chocolates to choose from via DTC or third-party online platforms is driving the growth of this segment.
The market is consolidated in nature with the presence of a large number of international players and a few regional players. The Hershey Company, Mars Incorporated, Nestlé, Ferrero, Chocoladefabriken Lindt & Sprüngli AG, and MondelÄ���z International are among the prominent players in North America.
#North America Chocolate Market Size & Share#North America Chocolate Market Latest Trends#North America Chocolate Market Growth Forecast#North America Chocolate Industry Insights#COVID-19 Impacts On North America Chocolate Market#North America Chocolate Market Revenue Value
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Cocoa & Chocolate Market - Forecast (2022 - 2027)
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Cocoa & Chocolate Market size is estimated to reach $62.4 billion by 2027, growing at a CAGR of 4.4% during the forecast period 2022-2027. Cocoa seeds can be described as fermented Theobroma cacao seeds commonly used around the world for their extracts. Unlike other crops, the cocoa crop is not period or time-bound and can be grown throughout the year. Hot and humid weather is the most suited for the cocoa crop; therefore, several African countries such as Ivory Coast, Ghana, Cameron, and Nigeria are the biggest producers of Cocoa beans worldwide. Cocoa is generally sold in liquid, paste, and cocoa powder forms in the market. Moreover, cocoa has several remedial benefits, such as preventing infectious intestinal disease and lowering the risk of bronchitis, asthma, and lung congestion. Cocoa beans are an inextricable ingredient in chocolate making. Both cocoa and chocolate are used as flavoring agents in the production of confectioneries and flavored beverages. Moreover, the growing confectionery industry, soaring demand for innovative flavors, growing popularity of chocolate among millennials, bettering retail industry in developing countries, urbanization, and improving disposable incomes are the factors set to drive the growth of the Cocoa & Chocolate Market for the period 2022-2027.
Report Coverage
The report: “Cocoa & Chocolate Market Forecast (2022-2027)”, by Industry ARC, covers an in-depth analysis of the following segments of the Cocoa & Chocolate Market.
By Nature: Conventional and Organic.
By Type: Cocoa (Liquid, Powder, Paste) and Chocolate (White, Dark, Milk, and Others).
By Application: Pharmaceuticals, Cosmetic products, Food & beverages, and Others.
By Distribution Channel: Offline and E-commerce.
By End User: Hospitality venues or Foodservice providers and Households.
By Geography: North America (U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Australia & New Zealand, and Rest of Asia-Pacific), South America (Brazil, Argentina, Chile, Colombia and Rest of South America) and Rest of World (the Middle East and Africa).
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Key Takeaways
Geographically, the North America Cocoa & Chocolate Market accounted for the highest revenue share in 2021. The growth is owing to. Furthermore, Asia-Pacific is poised to dominate the market over the period 2022-2027.
Changing tastes & preferences of people, expanding cuisine culture, ameliorating retail infrastructure in developing nations, health benefits associated with moderate consumption of chocolate, soaring disposable income levels, proliferating population, the rising popularity of confectioneries among millennials, and quick urbanization are the factors said to be preeminent driver driving the growth of Cocoa & Chocolate Market. Augmenting unemployment, soaring inflation, and environmental catastrophes are said to reduce market growth.
Detailed analysis of the Strength, Weaknesses, and Opportunities of the prominent players operating in the market will be provided in the Cocoa & Chocolate Market report.
Cocoa & Chocolate Market Segment Analysis-By Nature
The Cocoa & Chocolate Market based on nature can be further segmented into organic and conventional. The conventional segment held the largest share in 2021. Conventional farming prevails around the world because of several advantages associated with it. Owing to less labor requirement and large-scale production in less land area, conventional farming help farmers in reducing their expenses and maximizing revenue; as a result, it always remains the first choice for them. In addition to that, unlike organic products, conventional products are available across the board regardless of geographical location. Therefore, they always remain in demand. However, the organic segment is estimated to be the fastest-growing segment with a CAGR of 5.4% over the forecast period 2022-2027. The primary reason behind this is the downsides of conventional farming such as harmful effects on the environment, health problems, high risk of plant diseases, and many others. Therefore, with growing attentiveness among consumers regarding their health and environment, the overall demand for organic products is soaring drastically.
Cocoa & Chocolate Market Segment Analysis-By Distribution Channel
The Cocoa & Chocolate Market based on distribution channels can be further segmented into offline and e-commerce. The offline segment held the largest share in 2021. The growth is owing to round the corner presence, easy return, bulk buying, bargaining, quality check before making the purchase, instant buying, and last but least a reason to go outside which can refresh the mood. In addition to that, the growing existence of modern outlets like supermarkets attracts the attention of people with appealing discount offers and the conveniences of buying everything in one place. Nevertheless, online is estimated to be the fastest-growing segment with a CAGR of 5.8% over the forecast period 2022-2027. The growth is owing soaring popularity of WFH, top thriving technological advancements like Google maps and e-banking services, rising smartphone users, internet penetration, eventful lifestyles of people, and a tech-friendly population.
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Cocoa & Chocolate Market Segment Analysis-By Geography
The Cocoa & Chocolate Market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. Europe held the largest share with 34% of the overall market in 2021. According to a report, Switzerland is by far the biggest chocolate consumer with a per capita consumption of nearly 9 kg followed by Germany and Austria with 7.9 kg and 8.1 kg per capita consumption. Moreover, Ireland, France, Norway, and many other European countries have a sizable annual chocolate consumption. The sky-rocketing trend of chocolate consumption in these nations can be justified by the high disposable incomes of residents, quality lifestyles, well-established retail network, and presence of leading market players. However, Asia-Pacific is expected to be the fastest-growing segment over the forecast period 2022-2027. This high sugar cane production in India, China, and Thailand is aiding the market. In addition to that, improving living standards of people, rising disposable incomes as economies are flourishing, a growing number of manufacturers, and bettering infrastructure bracing the ease of doing business.
Cocoa & Chocolate Market Drivers
The spiraling disposable incomes and improving lifestyles of people in developing countries are anticipated to boost market demand.
Spiraling disposable incomes and improving lifestyles are one of the key factors driving the market growth. The majority of countries in Europe such as Norway, San Marino, Netherlands, Denmark, Austria, Iceland, Germany, and Others had GDP over capita income above $55,000. These figures are enough to represent the quality of lifestyles on the European continent. Nevertheless, with the rising economic affluence of major developing countries like India, China, and Indonesia, the overall living standards of people are improving and they are making more demand for premium products like milk chocolates. For instance, from $10,511 in 2020, China’s GDP per capita income soared and reached $12,551 in 2021. Also, last year by uplifting nearly 100 million people from poverty, the country declared itself free from extreme poverty.
Extensive usage in confectioneries, innovative payment technologies, and rapid urbanization are expected to boost market demand.
The trend of conferring chocolate during festive seasons and occasions like Christmas, Diwali, Eid, Valentine's Day, and others have broadened in recent years; as a result, the overall demand for confectionery has witnessed a massive ascension. The existence of electronic fund transfers has revolutionized the retail industry worldwide enhancing product demand. Moreover, as they support hassle-free and swift payment, EFT platforms act as a potent trigger in affecting consumers' buying behavior. According to the National Payment Corporation of India, in March 2022, the Unified Payment Interface (UPI) accounted for nearly 5.04 billion payments in India; moreover, in FY22, the platform processed transactions worth $1 trillion. The growing number of internet users in the country is likely to expand the figures. Moreover, the rapid urbanization of people from the countryside to urban centers worldwide is another factor promoting the growth of the aforesaid market.
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Cocoa & Chocolate Market Challenges
Broadening inflation, unemployment, and environmental catastrophes are projected to hamper the market growth.
The disrupted supplies because of pandemic restrictions have impacted the market negatively. Furthermore, a sweeping increase in unemployment levels and inflation rates are affecting the purchasing power of consumers worldwide and eventually challenging the growth of the cocoa & chocolate market. For instance, India’s urban unemployment increased from 8.28 percent to 9.2 percent in April 2022. Moreover, according to a UN report, with a hike of 18 million, global unemployment is likely to reach the 205 million mark in 2022. On another hand, in March 2022, India witnessed 17 months' highest CPI inflation rate of 6.95 percent and the U.S. is facing 42 years of highest inflation. All these factors are anticipated to impede market growth in the near future.
Cocoa & Chocolate Industry Outlook:
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the aforementioned Market. Cocoa & Chocolate market's top 10 companies include-
Cargill Inc.
Touton S.A.
Cocoa Processing co Ltd.
Olam International
Barry Callebaut AG
Fuji Oil Company
Nestle S.A.
ECOM Agroindustrial Co.
Niche Cocoa
Archer Daniels Midland
Recent Developments
On December 22, 2021, Illinois, United States-based company Archer-Daniels-Midland (a firm known for its food processing) announced the successful acquisition of Panama-based Flavor Infusion International SA (a firm that provides flavor and specialty solutions). The financials of the transaction were not disclosed by the firm; nevertheless, the transaction has expanded the company's presence in Latin America and the Caribbean.
On October 21, 2021, Minnesota, United States-based renowned food corporation “Cargill” announced that the company has gone into a joint venture with Continental Grain Company in order to acquire Mississippi, United States-based “Sanderson farms” gets a nod from Sanderson’s stockholders. The total value of the acquisition stands around $4.5 billion ($203 per share).
On June 25, 2021, Pennsylvania, Unites States-based renowned chocolate manufacturing company “The Hershey Company” announced that the company has successfully acquired the confectionery business from Boulder, the United States-based company Lily’s Sweet LLC (a company that offers a variety of chocolates). The total value of this transaction stands at around $425 million.
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Chocolate Milk Market: Forthcoming Trends and Share Analysis by 2030
The Global Chocolate Milk Market was valued at USD 8.52 Billion in 2021, and it is projected to reach USD 11.76 Billion by 2028, registering an estimated CAGR of 4.70% during 2021- 2028.
The chocolate milk market has experienced steady growth in recent years, driven by the increasing consumer preference for indulgent yet nutritious beverages. Chocolate milk, known for its rich taste and nutritional benefits, has become a popular choice among consumers of all ages. Its popularity is evident across various demographics, from children seeking a tasty treat to athletes looking for a post-workout recovery drink. The market has witnessed significant innovation, with manufacturers introducing new flavors, formulations, and packaging options to cater to evolving consumer preferences. Additionally, the rising awareness about the health benefits associated with consuming chocolate milk, such as providing essential nutrients like calcium and protein, has further fueled market growth.
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Scope For 2024
Brief Introduction to the research report.
Table of Contents (Scope covered as a part of the study)
Top players in the market
Research framework (structure of the report)
Research methodology adopted by Worldwide Market Reports
Moreover, the report includes significant chapters such as Patent Analysis, Regulatory Framework, Technology Roadmap, BCG Matrix, Heat Map Analysis, Price Trend Analysis, and Investment Analysis which help to understand the market direction and movement in the current and upcoming years.
Leading players involved in the Chocolate Milk Market include:
Amul(India), Arla Foods (Denmark), Dairy Farmers of America Inc. (US), Dean Foods (Texas), Groupe Danone(France), Inner Mongolia Yili Industrial Group (China), Nestle SA (Switzerland), Royal FrieslandCampina (Netherlands), Saputo Inc (Canada), The Hershey Company (US), Maryland & Virginia Milk Producers Cooperative Association Inc. (US), The Coca-Cola Company (US), Mars Incorporated (US), other major players.
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Segmentation of Chocolate Milk Market:
By Type
Dairy-Based Chocolate Milk
Non-Dairy Based Chocolate Milk
By Distribution Channel
Supermarket/ Hypermarkets
Convenience Stores
Other Distribution Channels
Market Segment by Regions: -
North America (US, Canada, Mexico)
Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)
Middle East & Africa (Turkey, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa)
South America (Brazil, Argentina, Rest of SA)
Highlights from the report:
Market Study: It includes key market segments, key manufacturers covered, product range offered in the years considered, Global Chocolate Milk Market, and research objectives. It also covers segmentation study provided in the report based on product type and application.
Market Executive Summary: This section highlights key studies, market growth rates, competitive landscape, market drivers, trends, and issues in addition to macro indicators.
Market Production by Region: The report provides data related to imports and exports, revenue, production and key players of all the studied regional markets are covered in this section.
Chocolate Milk Profiles of Top Key Competitors: Analysis of each profiled Roll Hardness Tester market player is detailed in this section. This segment also provides SWOT analysis of individual players, products, production, value, capacity, and other important factors.
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#Chocolate Milk#Chocolate Milk Market#Chocolate Milk Market Size#Chocolate Milk Market Share#Chocolate Milk Market Growth#Chocolate Milk Market Trend#Chocolate Milk Market segment#Chocolate Milk Market Opportunity#Chocolate Milk Market Analysis 2024
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Chocolate Flavors Market
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The Chocolate Flavors Market size is estimated to reach $527.5 million by 2027. Furthermore, it is poised to grow at a CAGR of 5.40% over the forecast period of 2022-2027.
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#Chocolate and Confectionery Processing Equipment Market Size#Chocolate and Confectionery Processing Equipment Market Share#Chocolate and Confectionery Processing Equipment Market Trends#Chocolate and Confectionery Processing Equipment Market Growth#Chocolate and Confectionery Processing Equipment Market Demands#Chocolate and Confectionery Processing Equipment Market Opportunities#Chocolate and Confectionery Processing Equipment Market scope#Chocolate and Confectionery Processing Equipment Market value#Chocolate and Confectionery Processing Equipment Market Strategies#Chocolate and Confectionery Processing Equipment Market Analysis.
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