This report provides exclusive insights into the COVID-19 impact on the Chocolate Market. The detailed analysis provides information about the impact of the outbreak on the demand and supply conditions, trends and forecasts of the Chocolate Market. Moreover, the impact analysis covers the study of the COVID-19 on the supply chain of Chocolate Market. The sectoral impact shall provide insights into both short term and long term effects of the pandemic on the related and support industries.
A recent report published by Infinium Global Research on the chocolate market provides an in-depth analysis of segments and sub-segments in the global as well as the regional chocolate market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional chocolate market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global chocolate market. According to the report, the global chocolate market is projected to grow at a CAGR of 6.5% over the forecast period of 2018-2024.
Chocolate is a typically sweet, brown food preparation of
roasted and ground cacao seeds. Chocolate is one of the most popular food types
and flavors in the world, and many foodstuffs involving chocolate exist,
particularly desserts, including cakes, pudding, mousse, chocolate brownies,
and chocolate chip cookies. The benefits offered by chocolate are the bioactive
compounds in cocoa may improve blood flow in the arteries and cause a small but
statistically significant decrease in blood pressure. Consuming dark chocolate
can improve several important risk factors for heart disease. In fact, cocoa
and chocolate products have been used as medicine in many cultures for
Use of chocolate as functional foods owing to high
nutritional value and stress relieving ability coupled with an increase in
seasonal and festival drives the growth of the chocolate market. Consumer taste
inclinations and rising spending on chocolate and other confectionery products
are some of the other factors strengthening the growth of the chocolate market.
Moreover, Antioxidants-enrichment, blood pressure-suppressing character, and
supposedly anti-aging properties of chocolate are augmenting the market growth.
Widespread approval of chocolate-flavored milk, drinks, bakery products, ice
creams, functional foods, and liquor chocolates will withstand the demand over
the upcoming years. However, the indeterminate economy of the cocoa supply is
likely to increase chocolate prices, which is predicted to be a major challenge
to market growth. Furthermore, gifting chocolate hampers and bouquets are among
some popular consumer trends in the market. This, in turn, is anticipated to
create several growth opportunities for the key players in the chocolate
market. Presence of regional brands such as Ghirardelli, Mars, Ferrero, and
Hershey’s have gained popularity due to the altering taste inclinations and
increasing brand loyalty. This is having a positive impact on market growth
over the years to come.
Among the geographies, North America dominated the chocolate
market followed by Europe. The growth in the North American region is due to a
large number of manufacturers in the U.S, U.K, and Germany. European
productions generally maintained a high focus on the taste of chocolate rather
than the business side and economy behind the chocolate industry. Milk
chocolates have been always popular in India and contribute more than 70% of
the total chocolate market. The Asia-Pacific is anticipated to be the fastest
growing region from emerging nations such as India and China. Seasonal and
festive deals are likely to hold a sturdy position in developing Asian
economies, such as India. Moreover, convenience stores managed the sale with a
share of more than 70% in the distribution channel. Mounting the retail chain
in the country offers a potential growth opportunity to the market in
The report on the global chocolate market covers segments such as types and distribution channel. On the basis of types, the sub-markets include regular chocolate, dark chocolate, milk chocolate, white chocolate, couverture chocolate, handcrafted gourmet chocolates, and others. On the basis of the distribution channel, the sub-markets include convenience stores, departmental stores, supermarkets and hypermarkets, specialist retailers, and others.
The report provides profiles of the companies in the market such as 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., and Ghirardelli Chocolate Co.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the chocolate market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.