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Global Chocolate Confectionery Market to Grow at a CAGR of 2.90% in the Forecast Period of 2022-2027, Driven by the Expansion of Modern Retail Channels

According to a new report by EMR titled, ‘Global Chocolate Confectionery Market Report and Forecast 2022-2027’, the market attained a value of about USD 202.4 billion in 2021. The market is further expected to grow at a CAGR of 2.90% in the forecast period of 2022-2027 to reach a value of nearly USD 232.4 billion by 2027.

The expansion of modern retail channels and the robust growth of the e-commerce sector are leading to a surge in the availability of diverse chocolate confectionery products, hence driving the market growth. The growing consumption of chocolate confectionery products as snacks is augmenting the market growth.

 

With the surging vegan population, the introduction of plant-based chocolates offering healthy indulgence and innovative texture is growing. The rising health-consciousness among the consumers is also prompting leading players of chocolate confectionery to incorporate nuts and fruits to boost the nutritional profile of the products. Innovations in chocolate confectionery to develop healthy and sustainable products are anticipated to fuel the market growth. As premium chocolate confectioneries are increasingly affordable, their demand among the rising middle-class population is anticipated to bolster in the forecast period.

 

Nestlé S.A (OTCMKTS: NSRGY), one of the leading companies in the market, introduced Incoa in March 2022. The product is a 70% dark chocolate bar that is exclusively made with cocoa fruit and is sold under its Les Recettes de L’Atelier brand. It would be available across various retail stores in the Netherlands and France and would enhance the reach of cocoa-pulp sweetened chocolate to a wider audience. The company leveraged its in-house chocolate expertise to develop a patent technique for the extraction of pulp and production of dark chocolate, capturing the former’s intrinsic texture and sweetness.

 

Moreover, the cocoa beans for the product were sourced from Nestlé Cocoa Plan farms in West Africa and Brazil. Through the launch, the company also attempts to integrate agricultural side-streams into its value chain, while delivering dark chocolate with great taste.

 

Market Analysis by Type, Product, and Region:

  • The market, on the basis of type, can be divided into dark chocolate, milk chocolate, and white chocolate.
  • Based on product, the market can be divided into boxed, countlines, moulded bars, seasonal chocolates, and straightlines, among others.

 

Key Findings of the Report:

  • The market is being aided by the growing demand for high-quality chocolate confectionery products and the expansion of distribution channels of chocolate confectionery.
  • The surging launches of premium chocolate confectionery with diverse flavours and textures are bolstering the market’s expansion.
  • The increasing consumption of chocolates to uplift one’s mood and boost energy is propelling the market.
  • The growing demand for clean-labelled and organic chocolate confectionery and the surging preference for low-sugar and sugar-free chocolate are providing impetus to the market.

 

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for chocolate confectionery for the periods (2017-2021) and (2022-2027).
  • The report also offers the historical (2017-2021) and forecast (2022-2027) markets for the types, products, and major regions of chocolate confectionery.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

 

The major players in the global chocolate confectionery market are Barry Callebaut, Nestlé S.A, Ferrero International, Mondelez Global LLC, and Meiji Holdings Co., Ltd., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

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