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The global market for chocolate is led by North America, followed by Europe. The United Kingdom, and Germany are the major countries in Europe. The market is being driven by the changing consumer lifestyles and increasing disposable income in emerging economies. The Asia Pacific region, especially India and China, is emerging as the fastest-growing market due to the rising influence of the Western lifestyle and related health benefits of chocolate consumption. These economies are expected to offer substantial product sales, especially during seasonal and festive sales.
Nestlé S.A. (SWX: NESN) and Mondelez International (NASDAQ: MDLZ) are some of the key players in the market. In July 2019, Nestlé S.A. announced that it has found a way to develop sugarless chocolate by using leftover material from cocoa plants to provide sweetness to the product. This product has been developed in response to the demand for natural and healthier fare has increased in recent years. Also, pressure from the consumers as well as governments to develop healthier products due to the rising incidences of obesity and diabetes has led to the development of this version of chocolate. This move, i.e., finding a way to alter sugar structure to boost sweetening power, will strengthen the company‘s position in the market. The company's new 70% dark chocolate will contain 40% less sugar as compared to the several equivalent bars with added sugar.
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Mars, Incorporated, Ferrero Group, Barry Callebaut AG, Mondelez International, Hershey Co., and Nestlé SA, among others, are the key players in the global market for chocolate. The EMR report looks into the capacity, market share, and latest developments of these major players like plant turnarounds, mergers and acquisitions, and capacity expansions.
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