Expert Market Research Explores the Top 7 Companies in the Global Chocolate Spread Market

The global chocolate spread market is expected to grow at a CAGR of 2.3% in the forecast period 2023-2028. As per the analysis by Expert Market Research, the market is expected to be driven by the changing lifestyles of consumers.

The changing lifestyle of consumers is leading to changing eating habits; as a result, many individuals are incorporating ready-to-eat foods into their diet. The chocolate spread has wide applications as it can be used with pancakes, waffles, bread, cookies, and others. With the rising adoption of western culture and urbanisation, the demand for chocolate spread has risen over recent years. The increased innovations of dishes at eateries and food products have boosted the demand for this product. Further, the aggressive marketing of chocolate spread by the leading players has boosted the sales of chocolate spread, consequently fuelling the market growth.

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In June 2021, The Hershey Company (NYSE: HSY) completed its acquisition of Lily’s confectionery brand for a price of USD 425 million. In June 2021, a Ferrero-related company announced that it is going to acquire Burton’s biscuit company. As part of the deal, Ferrero will overtake six production facilities in the United Kingdom. Earlier in January 2018, Ferrero acquired the US confectionery business from Nestle. With this acquisition, Ferrero also gained more than 20 American brands and became the third-largest confectionary company in the United States. Such developments in the industry are expected to boost the market growth over the forecast period.

Top 7 Chocolate Spread Companies in the World:

Ferrero International S.A.

Ferrero International S.A. is an Italian producer of branded chocolate and confectionery products. Ferrero is the second largest chocolate producer and confectionery company in the world. A survey by the Reputation Institute in 2009 named Ferrero as the most reputable company in the world. The company has a strong global presence, and they market its products in over 170 countries worldwide.

The Hershey Company

The Hershey Company is an American MNC, which is one of the largest chocolate manufacturers in the world. The Hershey Company is ranked 370 on the Fortune 500 list. They market their products in the United States and over 60 countries worldwide. The company employs about 18,000 individuals.

Nestlé S.A.

Nestlé S.A., a Swiss multinational food and drinks processing conglomerate, is the largest food company in the world since 2014, on the basis of value. In 2017, it was ranked 64 on the Fortune Global 500 list. The company’s products include medical food, baby food, coffee and tea, bottled water, breakfast cereals, dairy products, confectionery, ice cream, frozen food, and snacks. Nestle has more than 2000 brands and is present in about 186 countries worldwide. The company has 447 factories worldwide. In 2020, the employee strength in the company accounted for 273,000 people. In 2020, Nestle generated group sales of CHF 84.3 billion.

Mondelez International, Inc

Mondelez International, Inc is an American confectionery, food, beverage and holding company. It was a part of Kraft Foods but became a separate organisation in 2012. The company manufactures and sells cookies, chocolates, biscuits, gum, confectionery, and powdered beverages. Some of its famous brands are Cadbury, Oreo, and Chips Ahoy.

NUTKAO S.r.l.

NUTKAO S.r.l. is a global leader in the production of chocolates and cocoa hazelnut spreads. The company is part of the Candy Manufacturing Industry. Nutkao’s specialities include private label mixes, white spreads, cocoa spreads, praline fillings, ice cream coatings, dark chocolate, milk chocolate etc.

Dr. Oetker India Pvt. Ltd.

Dr. Oetker India Pvt. Ltd. is a subsidiary of Dr. Oetker, a German conglomerate. FunFoods by Dr. Oetker is a retail market leader in western sauces and spreads in India. The company sells sauces, mayonnaise, spreads, waffles, baking mixes, and dessert toppings.

Nutiva Inc

Nutiva Inc is a plant-based organic foods company. They grow their crops without any GMOs, chemical pesticides or fertilisers. Nutiva is part of the Fresh Prepared Foods Industry. They produced the world’s USDA-certified organic MCT oil and organic MCT powder. They are slowly progressing towards becoming a zero-waste facility.

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