Global Chocolate Market 2023 Research In-Depth Analysis, Applications, Forecasts to 2030

 By- Infinium Global Research

The chocolate market is flourishing, driven by a confluence of consumer preferences and health benefits. A recent Infinium Global Research report delves into the market's depth, analyzing global and regional segments. This analysis considers both short-term and long-term influences, including drivers, restraints, and economic indicators. The report paints a comprehensive picture of market trends, forecasts, and overall value. the global chocolate market is projected to grow at a significant CAGR over the forecast period of 2023-2030.

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One key driver is consumer awareness of the health perks associated with high-quality chocolate. This, coupled with the rising demand for vegan, organic, gluten-free, and sugar-free options, is propelling product demand. The COVID-19 pandemic caused a temporary disruption as lockdowns forced business closures and impacted supply chains. However, chocolate sales remained stable due to stockpiling and its mood-boosting properties. Consumers increasingly seek out bean-to-bar and single-origin chocolates, prompting manufacturers to capitalize on this premium and specialty market. This trend, fueled by the popularity of single-origin cocoa, is expected to contribute to future growth.

Mental health concerns are another factor influencing demand. Studies suggest moderate chocolate consumption elevates mood by increasing serotonin and endorphins. With nearly 3.4% of the global population – roughly 251-310 million people – suffering from depression according to World Population Review data, the rising prevalence of mental illness is likely to positively impact chocolate sales. Additionally, chocolate consumption can reduce stress by lowering cortisol levels. This potential health benefit, along with growing awareness of preventative healthcare, is anticipated to further propel market growth.

Dark chocolate's health benefits are another positive influence. The Cleveland Clinic highlights its ability to improve blood circulation, reduce blood pressure, enhance brain function, and lower the risk of heart disease when consumed moderately, thanks to its mineral content. Furthermore, premiumization, visually attractive packaging, and flavor innovations are contributing to market expansion. The use of chocolate in diverse food and beverage applications like bakery products, confectionery, and beverages is another growth factor.

To Know More Visit: https://www.infiniumglobalresearch.com/reports/global-chocolate-market

Geographically, North America leads the market, followed by Europe. This dominance is attributed to the high concentration of manufacturers in the US, UK, and Germany. However, the Asia-Pacific region is expected to witness the fastest growth due to emerging markets like India and China. Seasonal and festive promotions are likely to remain crucial in these developing economies, with convenience stores dominating the distribution channel. In India specifically, the expansion of retail chains presents a significant growth opportunity.

Market Segmatation:

The Infinium Global Research report breaks down the chocolate market into two key segments: product type and distribution channel. By product type, the market is divided into sub-categories like regular chocolate, dark chocolate (a growing segment!), milk chocolate (still popular!), white chocolate, couverture chocolate used for professional decorating, handcrafted gourmet chocolates, and other specialty options. From a distribution channel perspective, the report examines convenience stores, departmental stores, the dominant force of supermarkets and hypermarkets, specialist retailers focused on chocolate, and other emerging channels.

Market Dynamics:

Chocolate consumption is on the rise, driven by a shift in perception. Consumers are increasingly aware of the potential health benefits of chocolate, including mood improvement and even heart health. This awareness has fueled the popularity of dark chocolate and gourmet varieties, offering more health-conscious options. Additionally, unique products featuring natural and organic ingredients keep consumers coming back for more.

However, chocolate production faces a significant challenge: climate change. Cocoa trees, the source of cocoa beans, thrive in hot and humid areas near the equator, particularly the Amazon and Orinoco River basins in South America. Ideal conditions include moderate rainfall and consistent humidity. Maintaining these conditions is crucial for ensuring the viability of cocoa production in the face of a changing climate.

Market Keyplayers:

  • Hershey Foods Corporation
  • Nestle SA
  • Fererro Group
  • Mondelez International (Cadbury)
  • Meiji Co Ltd
  • Mars Inc
  • Ezaki Glico Co. Ltd
  • August Storck KG
  • Arcor
  • Kraft Foods
  • Moonstruck Chocolatier Co.
  • Ghirardelli Chocolate Co.

 

Contact Us:

Infinium Global Research LLP

Mob: +91 9923950043

Email: info@infiniumglobalresearch.com

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