NEW
YORK, July 8, 2024 /PRNewswire/ -- The global
chocolate confectionery market size is estimated to grow by
USD 31 billion from 2024-2028,
according to Technavio. The market is estimated to grow at a CAGR
of 4.36% during the forecast period. Frequent product
launches is driving market growth, with a trend
towards packaging innovations in global chocolate
confectionery market. However, increase in number of product
recalls poses a challenge. Key market players include Boutique and
Workshop, Barry Callebaut AG, Cargill Inc., Cemoi,
Chocoladefabriken Lindt and Sprungli AG, Chukar Cherry Co. Inc.,
Divine Chocolate Ltd., Ezaki Glico Co. Ltd., Ferrero International
S.A., Firetree Chocolate Ltd., Lotte Corp., Mars Inc., Mast
Brothers Inc., Meiji Holdings Co. Ltd., Mondelez International
Inc., Moo Free Ltd., Nestle SA, Neuhaus NV, Peeps and Co. Inc., and
The Hershey Co..
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Forecast
period
|
2024-2028
|
Base Year
|
2023
|
Historic
Data
|
2018 - 2022
|
Segment
Covered
|
Product (Chocolate
bars, Boxed assortments and seasonal variants, and Others),
Distribution Channel (Offline and Online), and Geography (Europe,
North America, APAC, South America, and Middle East and
Africa)
|
Region
Covered
|
Europe, North America,
APAC, South America, and Middle East and Africa
|
Key companies
profiled
|
Boutique and Workshop,
Barry Callebaut AG, Cargill Inc., Cemoi, Chocoladefabriken Lindt
and Sprungli AG, Chukar Cherry Co. Inc., Divine Chocolate Ltd.,
Ezaki Glico Co. Ltd., Ferrero International S.A., Firetree
Chocolate Ltd., Lotte Corp., Mars Inc., Mast Brothers Inc., Meiji
Holdings Co. Ltd., Mondelez International Inc., Moo Free Ltd.,
Nestle SA, Neuhaus NV, Peeps and Co. Inc., and The Hershey
Co.
|
Key Market Trends Fueling Growth
Vendors in the chocolate confectionery market introduce
innovative packaging to make their products more appealing and
increase their shelf life. Consumers prefer products with strong
brand appeal and identity, which is delivered through attractive
packaging formats. Advanced packaging techniques protect packaged
chocolates from external agents such as moisture and contaminated
air. In the premium chocolate category, there is a significant
demand, leading many players to adopt luxurious packaging variants.
For instance, a recent collaboration between a chocolate company
and Bulletproof, a US-based packaging design agency, resulted in
new packaging featuring a quality seal highlighting ethically
sourced cocoa and high-quality ingredients. Innovative packaging
formats include plastic film and aluminum foil by Chocoladefabriken
Lindt, interactive chocolate packaging for kids by Choco bites, and
handcrafted textured packaging by 9th and Larkin. Symmetrical
chocolate packaging by BEAU CACAO is another example of unique
design in the industry.
The chocolate confectionery market is thriving with trends like
gifting traditions, novel chocolate flavors, and innovative
formulations. Seasonal chocolates and consumer packs are popular
choices for various occasions. However, consumer reticence towards
added sugar content is driving the demand for sugar-free
chocolates. Dark chocolate, fair-traded cocoa, and luxury
indulgence continue to be favorites. Exotic spices, herbs, and
floral notes add distinct flavors. Chocolatiers experiment with
rare cocoa varieties and single-origin chocolates, offering
unexpected textures. Chocolate lovers and health-conscious
individuals seek higher cocoa content and sugar-free options. Home
bakers, cooks, and specialty chocolatiers use chocolate as a
fundamental ingredient for cakes, brownies, cookies, pastries, and
decorative purposes. Visual appeal and desserts are essential for
consumer preferences. Gourmet chocolate products and high-quality
chocolate confectioneries cater to diverse tastes.
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Market Challenges
- The chocolate confectionery market faces a significant
challenge with the rising number of product recalls. These recalls
negatively impact the industry's reputation and impose increased
operational costs and financial burdens on companies. In 2022,
Euphoria Chocolate Company voluntarily recalled their traditional
peanut butter truffles, dark chocolate peanut
butter meltaways, and milk chocolate peanut butter meltaways
due to potential health hazards. Similarly, Strauss Israel recalled
various Elite-branded goods, including chocolates, cakes, wafers,
energy snacks, chewing gum, and toffee candies, due to potential
Salmonella contamination. These recalls pose a serious concern, as
Salmonella can cause severe infections, particularly in vulnerable
populations. Companies must prioritize food safety to mitigate the
risks and protect their brand reputation.
- The chocolate confectionery market faces several challenges.
Micro-organisms like Salmonella pose food safety risks, requiring
stringent production processes. Heavy metals, such as cadmium, in
chocolate can raise health concerns. Consumers demand organic and
sustainably sourced chocolate, prioritizing sensorial appeal and
ethical production. Mainstream chocolates compete with premium and
specialty chocolate products, gifting items, and traveling or
festival-related offerings. Health-conscious consumers seek out
natural flavors, sugar reduction, and healthy
ingredients. Premiumization, luxury chocolates, and innovative
varieties are popular in developed economies. Antioxidants,
minerals, and sugar content are key considerations for
health-focused consumers. Mushroom-infused chocolates and
sugar-free snacks cater to niche markets. Stress-relieving
characteristics and seasonal festive occasions, such as Christmas
and Easter, drive demand. Dessert and religious events, as well as
special occasions, also boost sales. Milk and white chocolate
segments dominate the market, with ongoing research on reducing
sugar content and exploring new natural ingredients.
Lifestyle-related health conditions, like obesity, diabetes, and
cardiovascular diseases, necessitate sugar reduction and healthier
options.
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challenges - Download a Sample Report
Segment Overview
This chocolate confectionery market report extensively covers
market segmentation by
- Product
- 1.1 Chocolate bars
- 1.2 Boxed assortments and seasonal variants
- 1.3 Others
- Distribution Channel
- Geography
- 3.1 Europe
- 3.2 North America
- 3.3 APAC
- 3.4 South America
- 3.5 Middle East and
Africa
1.1 Chocolate bars- The chocolate bars segment
dominates the global chocolate confectionery market, holding the
largest share in 2023 and projected to remain so through 2028. This
segment consists of countlines and molded bars. Countlines are
individually wrapped, chocolate-coated bars, while molded bars are
small chocolate pieces cut from larger blocks. Brands like
Snickers, Milky Bar, Milka, Galaxy, 5 Star, Dove, and Cadbury Dairy
Milk lead this category. Unique chocolate flavors and attractive
packaging drive demand. Innovations include smooth-textured dark
chocolate, protein bars, vegan varieties, and quinoa, sugar-free,
and single-origin chocolate bars. Retail expansion and product
launches positively impact sales during the forecast period.
For more information on market segmentation with geographical
analysis including forecast (2024-2028) and historic data (2018 -
2022) - Download a Sample Report
Research Analysis
The chocolate confectionery market is experiencing a surge in
demand due to the increasing popularity of premium quality
chocolate products. Consumers are now more inclined towards
chocolate bars made with milk mousse, creamy caramel, and
trans-fat-free formulations, aligning with healthy eating
lifestyles. Dark chocolate confectionery, known for its rich
antioxidant properties derived from cocoa, is a favorite among
health-conscious individuals. However, concerns over label claims,
such as micro-organisms like salmonella, heavy metals like cadmium,
and other contaminants, continue to pose challenges for
manufacturers. Organic chocolate, sustainably sourced chocolate,
and rare cocoa varieties are gaining traction as consumers seek
ethical and authentic chocolate experiences. The market also caters
to chocolate lovers with luxury indulgence, artisanal chocolates,
and unexpected textures, exotic spices, herbs, and floral notes.
Chocolatiers continue to innovate with distinct flavor combinations
and single-origin chocolates, offering a sensorial appeal that
appeals to a broad consumer base.
Market Research Overview
The chocolate confectionery market is experiencing significant
growth due to the increasing popularity of premium quality
chocolate products. Consumers are seeking out chocolate bars made
with simple ingredients, trans-fat-free, and aligned with healthy
eating lifestyles. Dark chocolate confectionery, known for its
health benefits, is a popular choice, with flavors ranging from
creamy caramel and milk mousse to peanut butter and vegan options.
Premium chocolate brands are innovating constantly, offering vegan
milk bars, cruelty-free, organic, and sustainably sourced
chocolate. Label claims such as 'clean-label' and 'paleo-friendly'
are also gaining traction. Chocolate is consumed in various forms,
from grocery stores and supermarkets to e-commerce platforms,
festivals, small occasions, home cooking, bakeries, and
restaurants. Millennials and centennials are driving demand for
less sugar, less processed, and natural chocolate products.
Chocolate is not just a dessert but also a stress-reliever, making
it a popular choice for seasonal festive occasions, religious
events, and special occasions like Christmas and Easter. Innovative
varieties, attractive packaging, and sustainable production methods
are key trends in the chocolate market. However, concerns around
micro-organisms like salmonella and heavy metals like cadmium
persist, making it essential for chocolate manufacturers to
maintain high standards of hygiene and sustainability.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Product
-
- Chocolate Bars
- Boxed Assortments And Seasonal Variants
- Others
- Distribution Channel
-
- Geography
-
- Europe
- North America
- APAC
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio