Global Chocolate Confectionery Market Report and Forecast 2024-2032

Global Chocolate Confectionery Market Outlook

The global chocolate confectionery market attained a value of nearly USD 214.31 billion in 2023. The market is estimated to grow in the forecast period of 2024-2032 at a CAGR of 2.9% to reach about USD 277.19 billion by 2032.

North America Holds a Significant Market Share of Chocolate Confectionery

North America holds a significant share in the global chocolate confectionery market owing to the growing demand for premium and high-quality chocolates. Moreover, the increasing preference for healthy products by consumers is driving the development of healthy chocolate confectioneries in the market. Additionally, Europe is expected to witness robust growth owing to the extensive presence of manufacturers of chocolate products in countries like Germany, Italy, Belgium, and France. The continuous innovations in terms of flavours of chocolate are also bolstering the market for chocolate confectionery. Based on type, the dark chocolate segment is witnessing substantial growth in the market for chocolate confectionery owing to the health benefits associated with the consumption of dark chocolate like improvement in blood flow, lowered blood pressure, reduction in heart disease risk, improvement in brain function, and protection of LDL from oxidation, among others.

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Market Segmentation

Chocolate confectionery refers to any semi-solid or solid food primarily composed of cocoa or chocolate with or without the addition of nuts or fruits. It contains food made by covering, coating, or representing sugar confectionery in chocolate but does not contain biscuits that have been filled, cooked or flavoured with chocolate ice cream or chocolate, or baked confectionery flavoured with chocolate.

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The chocolate confectionery market, by type, is divided into:

• Dark Chocolate
• Milk Chocolate
• White Chocolate

The market can be broadly categorised on the basis of product segments into:

• Boxed
• Countlines
• Moulded Bars
• Seasonal Chocolates
• Straightlines
• Others

The EMR report looks into the regional markets of chocolate confectionery like Latin America, North America, Europe, the Asia Pacific, and the Middle East and Africa.

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Increasing Preferences for Novel Confectionery Products to Fuel the Market Growth of Chocolate Confectionery

The global chocolate confectionery market is anticipated to witness substantial growth during the forecast period on account of the rising demand for high-quality products among consumers. Going further, the increasing adoption of healthy eating habits is boosting the inclination towards sugar-free and healthy chocolate confectionery across the globe. Moreover, consumers are willing to pay more for chocolate confectionery with diverse flavours and premium quality, hence fuelling the market. The rising trend of organic chocolates is further accelerating the market growth of chocolate confectionery. The increasing brand awareness among consumers, the growing popularity of western products in developing countries, changing tastes and preferences of consumers, and the growing trend of gifting confectionery products like chocolates, bakery items and cookies coated with chocolate, among others, are expected to propel the market growth of chocolate confectionery across the globe over the coming years.

Key Players in the Global Market for Chocolate Confectionery

The report presents a detailed analysis of the following key players in the global chocolate confectionery market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

• Barry Callebaut
• Nestlé S.A
• Ferrero International
• Mondelez Global LLC
• Meiji Holdings Co., Ltd.
• Others

The comprehensive report looks into the macro and micro aspects of the market. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.

Key Highlights of the Report