(EMAILWIRE.COM, March 22, 2023 ) As per the Maximize Market research, a global business and consultancy firm, the global Chocolate Market was USD 131.37 billion in 2021 and is expected to grow at a CAGR of 5.1 percent during the forecast period to reach USD 195.58 billion by 2029.
Chocolate Market Scope and Research Methodology
The Chocolate Market report includes an analysis of market size, growth potential, key players, and emerging trends along with market share. The bottom-up approach is used to estimate the size of the Chocolate Market by value and volume. The market analysis has been conducted using quantitative and qualitative methods, including PESTLE analysis and Porter’s Five Forces model.
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Chocolate Market Dynamics
Chocolate’s antioxidant content, blood pressure-lowering qualities and alleged anti-aging capabilities are expected to drive the Global Chocolate Market. Dark chocolate with a higher cocoa content is suggested for preventing or slowing the aging process as well as some disorders including cardiovascular disease. Fluctuating prices of raw materials of cocoa beans and cocoa butter is expected to hinder the Chocolate Market growth.
Chocolate Market Regional Insights
Europe held the largest Chocolate Market share with 45 percent in 2021 and is expected to grow significantly throughout the forecast period. The increased demand for sugar-free and fat-free chocolates due to health concerns has been driving the Europe Chocolate Market growth.
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Chocolate Market Segmentation:
By Product:
Milk Chocolate
Dark Chocolate
White Chocolate
By Sales Category:
Everyday Chocolate
Premium Chocolate
Seasonal Chocolate
By Distribution Channel:
Online Channel
Departmental Store
Supermarket
Hypermarket
Others
Chocolate Market Key Competitors Include:
Kraft Foods
Nestle
Moonstruck Chocolatier Co.
Mars Inc.
Ghirardelli Chocolate Co.
Ferrero Group
Hershey Foods Corp.
Cadbury
Meiji Co Ltd
Arcor
Ezaki Glico Co Ltd
August Storck KG.
Barry Callebaut
Amul
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Maximize Market Research is leading Food & Beverages research firm, has also published the following reports:
White Chocolate Market : The market is expected to hit USD20.61 Bn by 2029 at a CAGR of 1.52 percent during the forecast period.
Chocolate Beer Market : The market was USD1.60 billion in 2021 is expected to grow at a CAGR of 6.88 percent to reach USD2.72 billion by 2029.
About Maximize Market Research:
Maximize Market Research provides B2B and B2C research on more than 10,000 high growth emerging opportunities & technologies as well as threats to new entrants across the Healthcare, Pharmaceuticals, Electronics & Communications, Internet of Things, Food and Beverages, Aerospace and Defence and other manufacturing sectors.
