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A recent report published by Infinium Global Research on premium chocolate market provides in-depth analysis of segments and sub-segments in the global as well as regional premium chocolate market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional premium chocolate market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global premium chocolate market.
The premium chocolate segment includes upscale varieties crafted with superior ingredients and unique flavors such as peanut butter, caramel, mint, honey, tropical fruits, and espresso, which are gaining popularity around the world. The growing demand for premium chocolate can be attributed to increased awareness of the distinctive attributes of premium chocolates and strategic branding initiatives by major companies positioning these products as premium gifts. The premium chocolate market is experiencing an upward trajectory primarily due to an increasing preference for gourmet chocolates made from ultra-fine cocoa beans, a growing demand for dark chocolates including high-quality cocoa powder, a rising consumption of skimmed milk chocolates among the younger demographics, and the growing investments by key players in the development of high-quality and healthier premium chocolate options. These factors are expected to drive the growth of the premium chocolate market.
The market for premium chocolates is primarily driven by the growing demand for organic and clean-label products. Consumers are creating a demand for high-quality chocolates made with natural ingredients, promoting companies to expand their premium chocolate offerings that align with this preference. Further, the growing health consciousness among consumers is driving the growth of the market. The pursuit of healthier food choices has led to an increased demand for premium chocolates with fewer additives and superior ingredients. This shift in consumer preference is significantly driving the growth of the premium chocolate market. However, the high price of premium chocolate compared to regular chocolates can hamper the growth of the market. The high price of premium chocolate can pose accessibility issues for price-sensitive consumers, potentially hampering the growth of the market. Nonetheless, the introduction of flavored chocolates can provide lucrative opportunities for the growth of the market. As consumers are seeking diverse and unique taste experiences, the innovation of distinct flavors in premium chocolates can cater to the evolving preferences of consumers, potentially boosting the growth of the premium chocolate market.
The global premium chocolate market is segmented into North America, Europe, Asia Pacific, and the rest of the world. The Europe region dominates the premium chocolate market, with Western European countries including Switzerland, Belgium, and France driving the growth of the market in the region. The dominance of the region in the global market is further attributed to the robust tradition of premium chocolate production and consumption in the region. Additionally, the consumer appreciation for high-quality chocolate, a cultural inclination towards chocolate indulgence, and a thriving tourism industry that actively promotes premium chocolate brand drives the market in the region. Moreover, the Asia Pacific region is expected to grab a significant share of the market of premium chocolate in the forecasted period. Countries like China and India are witnessing a surge in demand for premium chocolate products, driven by increasing disposable incomes, evolving consumer preferences, and a growing awareness of the health benefits associated with premium chocolates. The international brands are strategically expanding their presence in the Asia Pacific region to capitalize on growing premium chocolate markets in the region.
| Report Coverage | Details |
|---|---|
| Market Size in 2022 | USD 81.34 Billion |
| Market Size by 2030 | USD 185.32 Billion |
| Growth Rate from 2023 to 2030 | CAGR of 9.45% |
| Largest Market | Europe |
| No. of Pages | 180 |
| Market Drivers |
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| Market Segmentation | By Product Type, and By Distribution Channel |
| Regional Scope | North America, Europe, Asia Pacific, and RoW |
The report on global premium chocolate market covers segments such as product type, and distribution channel. On the basis of product type, the sub-markets include dark, white, and milk. On the basis of distribution channel, the sub-markets include hypermarkets/ supermarkets, convenience stores, online channels, and others.
The report provides profiles of the companies in the market such as Ferrero, Nestlé, Yildiz Holding, Mars, Incorporated, Lake Champlain Chocolates, Mondelez International Inc, Cemoi Chocolatier SA, Pierre Marcolini Group, The Hershey Company, and Chocoladefabriken Lindt & Sprüngli AG.
The report provides deep insights into 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 premium chocolate market. Moreover, the study highlights current market trends and provides forecasts from 2023-2030. 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.
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