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Global Chocolate Market: By Type: Dark Chocolate, Milk Chocolate, White Chocolate, Others; By Packaging; By Distribution Channel; Regional Analysis; Historical Market and Forecast (2016-2026); Market Dynamics; Trade Data Analysis; Price Analysis; Feedstock Market Analysis; Competitive Landscape; Industry Events and Developments
Global Chocolate Market Outlook
The global chocolate market reached a value of almost USD 106.6 billion in the year 2020. The industry is further expected to grow at a CAGR of 5.5% between 2021 and 2026 to reach a value of almost USD 147 billion by 2026.
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The global chocolate market is being driven by the changing consumer lifestyle and inflating disposable incomes in the emerging economies. North America is a leading region for the industry, along with Europe. The United Kingdom and Germany are some of the significant chocolate markets within Europe. The Asia Pacific is expected to be one of the fastest-growing regions, especially India and China, owing to the growing influence of the Western lifestyle and the rising awareness of the related health benefits of chocolate consumption. These emerging markets, such as India and China, are expected to provide a substantial push for the industry growth during the seasonal and festive sales.
The cocoa beans now account for about 75% of the total chocolate contributed by and produced in Africa. The Ivory Coast is a leading producer within the industry, followed by Ghana and Indonesia. Europe is a major consumer of chocolate, contributing one-third to the global chocolate sales. The market in Europe is, however, largely saturated and highly competitive. Switzerland happens to be the largest consumer of chocolate globally, with each person consuming up to 8.8 kg of chocolate per year. The United States, meanwhile, accounts for about a fifth of the chocolate consumption globally.
Properties and Applications
Chocolate is the food which is in the form of a paste or a solid block extracted from roasted and ground cacao seeds, usually sweetened and subsequently eaten as confectionery. The cocoa butter churns into a usable product during the chocolate production process in order to become a confection.
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The chocolate market is divided on the basis of type into:
- Milk
- White
- Dark
- Others
On the basis of packaging, the industry is divided into:
- Rigid
- Flexible
Based on the distribution channel, the industry is divided into:
- Supermarkets/ Hypermarkets
- Specialist Retailers
- Convenience Stores
- Online
- Others
The report also covers the regional chocolate markets like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Market Analysis
The global chocolate market is driven by the impulse buying behaviour of consumers across the globe. Children and grown-ups buy chocolates regardless of their economic situation as chocolates are related to impulse purchases. The industry is aided by the inflating income levels and the shifting lifestyles of the consumers. The chocolate market is further enhanced by the dynamic packaging of the chocolates as it enables a manufacturer to receive a prompt and spontaneous response from consumers. The accelerating urbanisation and prevalent availability of chocolate and derived products are expected to boost the industry.
The product has anti-ageing properties, extends antioxidants-enrichment, and has a blood pressure-suppressing character, further promoting the chocolate market growth. Dark chocolate has a large proportion of cocoa, which is recommended to prevent ageing and certain diseases, like CVDs. Some recent research findings show that consuming chocolate helps in relieving stress. The wide range of new applications of the product within food and confectionery products is expected to drive the chocolate market demand.
Chocolate has the potential for further market growth and has showcased itself as a multibillion-dollar worth industry in the past decade. Within developed countries, chocolate has established and thriving markets. The younger population within the emerging countries represent the leading consumers, boosting the chocolate market growth. The chocolate market is further aided by the growth of the food services sector and value addition. The chocolate market is extremely dynamic and has provided the impetus in replacing the traditional sweets within developing countries. The presence of regional brands within countries such as Japan, South Korea, India, and China, has catalysed the sales of chocolates during recent years. Multinational brands have also gained popularity in these countries, on account of changing taste preferences and rising brand loyalty.
Competitive Landscape
The report gives a detailed analysis of the following key players in the global chocolate market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Mars, Incorporated
- Ferrero Group
- Barry Callebaut AG
- Mondelez International
- Hershey Co.
- Nestlé SA
- Others
The comprehensive EMR report provides an in-depth assessment of the chocolate market based on the Porter's five forces model, along with giving a SWOT analysis. The report also gives an overview of the feedstock industry of the chocolate market, looking into the derivatives, applications, and regional markets of cocoa.
*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Industry Opportunities and Challenges
8 Global Chocolate Market Analysis
8.1 Key Industry Highlights
8.2 Global Chocolate Historical Market (2016-2020)
8.3 Global Chocolate Market Forecast (2021-2026)
8.4 Global Chocolate Market by Type
8.4.1 Dark Chocolate
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2016-2020)
8.4.1.3 Forecast Trend (2021-2026)
8.4.2 Milk Chocolate
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2016-2020)
8.4.2.3 Forecast Trend (2021-2026)
8.4.3 White Chocolate
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2016-2020)
8.4.3.3 Forecast Trend (2021-2026)
8.4.4 Others
8.5 Global Chocolate Market by Packaging
8.5.1 Rigid
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2016-2020)
8.5.1.3 Forecast Trend (2021-2026)
8.5.2 Flexible
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2016-2020)
8.5.2.3 Forecast Trend (2021-2026)
8.6 Global Chocolate Market by Distribution Channel
8.6.1 Supermarkets/ Hypermarkets
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2016-2020)
8.6.1.3 Forecast Trend (2021-2026)
8.6.2 Specialist Retailers
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2016-2020)
8.6.2.3 Forecast Trend (2021-2026)
8.6.3 Convenience Stores
8.6.3.1 Market Share
8.6.3.2 Historical Trend (2016-2020)
8.6.3.3 Forecast Trend (2021-2026)
8.6.4 Online
8.6.4.1 Market Share
8.6.4.2 Historical Trend (2016-2020)
8.6.4.3 Forecast Trend (2021-2026)
8.6.5 Others
8.6.5.1 Market Share
8.6.5.2 Historical Trend (2016-2020)
8.6.5.3 Forecast Trend (2021-2026)
8.7 Global Chocolate Market by Region
8.7.1 Market Share
8.7.1.1 North America
8.7.1.2 Europe
8.7.1.3 Asia Pacific
8.7.1.4 Latin America
8.7.1.5 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2016-2020)
9.1.2 Forecast Trend (2021-2026)
9.1.3 Breakup by Country
9.1.3.1 United States of America
9.1.3.2 Canada
9.2 Europe
9.2.1 Historical Trend (2016-2020)
9.2.2 Forecast Trend (2021-2026)
9.2.3 Breakup by Country
9.2.3.1 United Kingdom
9.2.3.2 Germany
9.2.3.3 France
9.2.3.4 Italy
9.2.3.5 Others
9.3 Asia Pacific
9.3.1 Historical Trend (2016-2020)
9.3.2 Forecast Trend (2021-2026)
9.3.3 Breakup by Country
9.3.3.1 China
9.3.3.2 Japan
9.3.3.3 India
9.3.3.4 ASEAN
9.3.3.5 Australia
9.3.3.6 Others
9.4 Latin America
9.4.1 Historical Trend (2016-2020)
9.4.2 Forecast Trend (2021-2026)
9.4.3 Breakup by Country
9.4.3.1 Brazil
9.4.3.2 Argentina
9.4.3.3 Mexico
9.4.3.4 Others
9.5 Middle East and Africa
9.5.1 Historical Trend (2016-2020)
9.5.2 Forecast Trend (2021-2026)
9.5.3 Breakup by Country
9.5.3.1 Saudi Arabia
9.5.3.2 United Arab Emirates
9.5.3.3 Nigeria
9.5.3.4 South Africa
9.5.3.5 Others
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyers Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 EMR’s Key Indicators for Demand
10.4 EMR’s Key Indicators for Price
11 Value Chain Analysis
12 Trade Data Analysis (HS Code -1806)
12.1 Major Importing Countries
12.1.1 By Volume
12.1.2 By Value
12.2 Major Exporting Countries
12.2.1 By Volume
12.2.2 By Value
13 Price Analysis
13.1 North America Historical Price Trends (2016-2020) and Forecast (2021-2026)
13.2 Europe Historical Price Trends (2016-2020) and Forecast (2021-2026)
13.3 Asia Pacific Historical Price Trends (2016-2020) and Forecast (2021-2026)
13.4 Latin America Historical Price Trends (2016-2020) and Forecast (2021-2026)
13.5 Middle East and Africa Historical Price Trends (2016-2020) and Forecast (2021-2026)
14 Feedstock Market Analysis
14.1 Global Cocoa Market
14.1.1 Key Industry Highlights
14.1.2 Global Cocoa Historical Market (2016-2020)
14.1.3 Global Cocoa Market Forecast (2021-2026)
14.1.4 Global Cocoa Market by Derivative
14.1.4.1 Cocoa Butter
14.1.4.2 Cocoa Powder
14.1.4.3 Cocoa Liquor
14.1.5 Global Cocoa Market Breakup by Application
14.1.5.1 Chocolate
14.1.5.2 Food and Beverage
14.1.5.3 Cosmetic
14.1.5.4 Pharmaceutical
14.1.5.5 Others
14.1.6 Global Cocoa Market Breakup by Region
14.1.6.1 North America
14.1.6.2 Europe
14.1.6.3 Asia Pacific
14.1.6.4 Latin America
14.1.6.5 Middle East and Africa
15 Competitive Landscape
15.1 Market Structure
15.2 Key Players' Market Share
15.3 Company Profiles
15.3.1 Mars, Incorporated
15.3.1.1 Company Overview
15.3.1.2 Product Portfolio
15.3.1.3 Demographic Reach and Achievements
15.3.1.4 Certifications
15.3.2 Ferrero Group
15.3.2.1 Company Overview
15.3.2.2 Product Portfolio
15.3.2.3 Demographic Reach and Achievements
15.3.2.4 Certifications
15.3.3 Barry Callebaut AG
15.3.3.1 Company Overview
15.3.3.2 Product Portfolio
15.3.3.3 Demographic Reach and Achievements
15.3.3.4 Certifications
15.3.4 Mondelez International
15.3.4.1 Company Overview
15.3.4.2 Product Portfolio
15.3.4.3 Demographic Reach and Achievements
15.3.4.4 Certifications
15.3.5 Hershey Co.
15.3.5.1 Company Overview
15.3.5.2 Product Portfolio
15.3.5.3 Demographic Reach and Achievements
15.3.5.4 Certifications
15.3.6 Nestlé SA
15.3.6.1 Company Overview
15.3.6.2 Product Portfolio
15.3.6.3 Demographic Reach and Achievements
15.3.6.4 Certifications
15.3.7 Others
16 Industry Events and Developments
Additional Customisations Available
1 Procurement Strategy
1.1 Contract Terms
1.2 Buying and Sourcing Trends
1.3 Storage and Warehousing
1.4 Certifications and Regulations
1.5 Risk Factors
2 Processing & Manufacturing of Chocolate Products
2.1 Overview
2.2 Various Types of Unit Operations Involved
2.3 Detailed Process Flow Manufacturing Process
3 Project Details, Requirements and Costs Involved
3.1 Land & Location
3.2 Site Development
3.3 Layout & Buildings
3.4 Plant & Machinery
3.5 Raw Materials
3.6 Utilities
3.7 Manpower
4 Loans & Financial Assistance
5 Project Economics
5.1 Capital Cost of the Project
5.2 Operating Costs
5.3 Other Costs
5.4 Product Pricing
5.5 Income & Expenditure Projections
5.6 Financial Analysis
List of Figures and Tables
1. Global Chocolate Market: Key Industry Highlights, 2016 and 2026
2. Global Chocolate Historical Market: Breakup by Type (USD Billion), 2016-2020
3. Global Chocolate Market Forecast: Breakup by Type (USD Billion), 2021-2026
4. Global Chocolate Historical Market: Breakup by Product (USD Billion), 2016-2020
5. Global Chocolate Market Forecast: Breakup by Product (USD Billion), 2021-2026
6. Global Chocolate Historical Market: Breakup by Distribution Channel (USD Billion), 2016-2020
7. Global Chocolate Market Forecast: Breakup by Distribution Channel (USD Billion), 2021-2026
8. Global Chocolate Historical Market: Breakup by Region (USD Billion), 2016-2020
9. Global Chocolate Market Forecast: Breakup by Region (USD Billion), 2021-2026
10. North America Chocolate Historical Market: Breakup by Country (USD Billion), 2016-2020
11. North America Chocolate Market Forecast: Breakup by Country (USD Billion), 2021-2026
12. Europe Chocolate Historical Market: Breakup by Country (USD Billion), 2016-2020
13. Europe Chocolate Market Forecast: Breakup by Country (USD Billion), 2021-2026
14. Asia Pacific Chocolate Historical Market: Breakup by Country (USD Billion), 2016-2020
15. Asia Pacific Chocolate Market Forecast: Breakup by Country (USD Billion), 2021-2026
16. Latin America Chocolate Historical Market: Breakup by Country (USD Billion), 2016-2020
17. Latin America Chocolate Market Forecast: Breakup by Country (USD Billion), 2021-2026
18. Middle East and Africa Chocolate Historical Market: Breakup by Country (USD Billion), 2016-2020
19. Middle East and Africa Chocolate Market Forecast: Breakup by Country (USD Billion), 2021-2026
20. Major Importing Countries by Volume (2020)
21. Major Exporting Countries by Volume (2020)
22. Major Importing Countries by Value Billion USD (2020)
23. Major Exporting Countries by Value Billion USD (2020)
24. North America Historical Price Trends and Forecast 2016-2026
25. Europe Historical Price Trends and Forecast 2016-2026
26. Asia Pacific Historical Price Trends and Forecast 2016-2026
27. Latin America Historical Price Trends and Forecast 2016-2026
28. Middle East and Africa Historical Price Trends and Forecast 2016-2026
29. Global Chocolate Market Structure
Key Questions Answered in the Report
In 2020, the global chocolate market attained a value of nearly USD 106.6 billion.
The market is projected to grow at a CAGR of 5.5% in the forecast period of 2021-2026.
By 2026, the market is estimated to reach a value of about USD 147 billion.
The major drivers of the industry such as rising disposable incomes, increasing population, increasing awareness of health benefits of the product, diversification of products, and changing lifestyles are expected to aid the market growth.
The growing demand for fair trade chocolate and innovation in flavours are expected to be the major trends in the market.
The leading regions in the industry are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa, with North America accounting for the largest market share.
The major types of chocolate are white, and dark, among others.
The significant packaging types in the market are rigid and flexible.
The major distribution channels in the industry are supermarkets/ hypermarkets, specialist retailers, convenience stores, and online, among others.
The leading players in the industry are Mars, Incorporated, Ferrero Group, Barry Callebaut AG, Mondelez International, Hershey Co., and Nestlé SA, among others.
Analyst Review
The global chocolate market attained a value of USD 106.6 billion in 2020 driven by the changing lifestyles of the consumers. Aided by the diversification of the product portfolios, the market is expected to witness a further growth in the forecast period of 2021-2026, growing at a CAGR of 5.5%. The industry is projected to reach USD 147 billion by 2026.
EMR’s meticulous research methodology delves deep into the industry, covering the macro and micro aspects of the industry. Based on its types, the market can be segmented into milk, white, dark, and other chocolates. On the basis of packaging, the industry is bifurcated into rigid and flexible packaging. The major distribution channels in the industry are supermarkets/ hypermarkets, specialist retailers, convenience stores, and online, among others. The major regional markets for chocolate are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above industry include Mars, Incorporated, Ferrero Group, Barry Callebaut AG, Mondelez International, Hershey Co., and Nestlé SA, among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with industry insights that are accurate, actionable, and help them remain ahead of their competition.
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