Chocolate market size, price, trends, demand, share, growth and forecast 2021 to 2026 – UK Parents Lounge
According to the latest report from the IMARC group, entitled “Chocolate Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2021-2026, “the Global chocolate market size reached a value of US $ 125 billion in 2020. Chocolates refer to edible foods that are prepared using roasted and ground cocoa beans found in the pods of Theobroma cocoa trees. The chocolate liquor and cocoa butter obtained from the beans are then mixed in varying proportions to make dark, milk, white and couverture chocolates. These edibles are widely available in the market in many forms, such as blocks, cubes, and fades. They are rich in alkaloids, including phenethylamine, caffeine, theobromine and flavonoids. Therefore, they are commonly used as flavoring ingredients in the preparation of various drinks, baked goods and confectionery, such as cakes, cookies, brownies, pudding, milkshakes and ice cream.
Like the new coronavirus (COVID-19[female[feminine) the crisis is taking hold of the world, we are constantly monitoring changes in the markets, as well as the purchasing behavior of consumers around the world and our estimations on the latest market trends and forecasts are made after considering the impact of this pandemic.
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Global Chocolate Market Trends:
The global market is mainly driven by the considerable growth of the food and beverage industry. This can be attributed to the swelling disposable income levels of the masses and their changing food preferences, which have contributed to an increase in the consumption of ready-to-eat baked goods and confectionery, in which chocolate is commonly used as a must-have ingredient. . The market is further driven by the growing awareness of the many health benefits associated with dark chocolates. These variations include soluble fiber and bioactive compounds as well as being a rich source of antioxidants. As a result, moderate consumption of chocolate rich in cocoa is known to lower blood pressure, improve brain function, and minimize the risk of developing heart disease. Supported by increasing sales of chocolates through organized online and offline retail channels, this is expected to drive market growth. Other factors contributing to the market include the growing importance of sugar-free and gluten-free chocolates among health-conscious consumers, the widespread popularity of chocolates as party favors, and the growing appreciation for chocolate products. Due to the aforementioned factors, the market is expected to grow at a CAGR of approximately 5% during the forecast period (2021-2026).
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Competitive landscape with key players:
The report also analyzed the competitive landscape of the market with some of the major players being.
- Barry callebaut
- Chocoladefabriken Lindt & Sprüngli AG
- Guylian Chocolate Factory
- Ferrero International
- Mars incorporated
- Meiji Co. Ltd.
- Mondelez International Inc. (Kraft Foods)
- Moononstruck Chocolate Company
- Nestlé SA
- The Hershey Company
Segmentation of the chocolate market:
Our report has categorized the market on the basis of region, product type, product form, application, price, and distribution.
Breakdown by product type:
- White chocolate
- Milk chocolate
- Dark chocolate
Breakdown by product form:
Breakdown by application:
- Bakery products
- Sugar confectionery
Breakdown by price:
- Everyday chocolate
- Premium chocolate
- Seasonal chocolate
Breakdown by distribution:
- Direct sales (B2B)
- Supermarkets / Hypermarkets
- Convenience Stores
- Online stores
Breakdown by region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia-Pacific (China, Japan, India, Australia, Indonesia, Korea, others)
- Latin America (Brazil, Mexico, others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, others)
Highlights of the report:
- Market performance (2015-2020)
- Market Outlook (2021-2026)
- Porter’s Five Forces Analysis
- Market drivers and success factors
- SWOT analysis
- Value chain
- Complete mapping of the competitive landscape
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