DUBLIN–(BUSINESS WIRE)–The “Global Chocolate Confectionery Market: Analysis By Category, By Product Type, By Price Point, By Age Group, By Distribution Channel, By Region Size and Trends with Impact of COVID-19 and Forecast up to 2028” report has been added to ResearchAndMarkets.com’s offering.
The global chocolate confectionery market in 2022 stood at US$137.95 billion, and is likely to reach US$186.99 billion by 2028.
Chocolate confectionery refers to sweet treats primarily composed of chocolate or cocoa derivatives, including products such as chocolate bars, truffles, and pralines. Originating as a luxury item in Mesoamerica, chocolate underwent a transformation to a sweet beverage favored by European elites, following the introduction of sugar.
The 20th-century industrial revolution, marked by key innovations such as the cocoa press and mass production, led to the evolution of chocolate from a premium product to a universally relished confectionery. The transition of these sweets into easily accessible, portable snacks has broadened their consumer base, thereby boosting their popularity and indicating the dynamic progression of the chocolate confectionery market.
In recent years, the popularity of chocolate confectionery has increased for various reasons, primarily due to its potential health benefits, the rise of artisan and premium chocolates, the growth of online sales channels providing greater accessibility, and innovation in flavors and forms driven by effective marketing campaigns.
As consumers continue to increase their awareness of lifestyle and consumption choices, it is expected that the chocolate confectionery market to deepen its offering in specific lifestyle choice products including reduced sugar and dairy free. The global chocolate confectionery market is projected to grow at a CAGR of 5.20% during the forecast period of 2023-2028.
|No. of Pages||183|
|Forecast Period||2023 – 2028|
|Estimated Market Value (USD) in 2023||$145.12 Billion|
|Forecasted Market Value (USD) by 2028||$186.99 Billion|
|Compound Annual Growth Rate||5.2%|
6. Market Dynamics
6.1 Growth Driver
6.1.1 Rapid Urbanization
6.1.2 Growth Of E-commerce
6.1.3 Rising Disposable Income
6.1.4 Health and Wellness Trends
6.1.5 Gifting Culture and Festive Celebrations
6.1.6 Marketing and Branding Initiatives
6.2.1 Fluctuating Raw Material Costs
6.2.2 Regulatory Changes
6.2.3 Health Concerns
6.3 Market Trends
6.3.1 Artificial Intelligence (AI) and Data Analytics
6.3.2 Growing Integration of AR and VR
6.3.3 Technological Innovations
6.3.4 Sustainable Practices
6.3.5 Expansion Into New Product Categories, Personalization & Customization, and Exotic & Novel Flavors
6.3.6 Continued Momentum Of ‘Snacking Culture’
6.3.7 Out Of Home Consumption
6.3.8 Vegan Products, Reduced-sugar And Sugar-free Chocolate Confectionery
6.3.9 Increasing Demand for Premium Chocolate Confectionery
- Mondelez International Inc
- Nestle SA
- Meiji Holdings Co., Ltd.
- Hershey Co
- Chocoladefabriken Lindt & Sprungli AG
- Ezaki Glico Co., Ltd.
- Barry Callebaut
- Mars Inc
- Ferrero International SA
- Yildiz Holding (Pladis Global)
- CEMOI Group
- Orion Group (Orion Confectionery)
- August Storck KG
Market Segmentation Analysis:
- By Category: The market report has segmented the global chocolate confectionery market into seven segments namely, tablets/molded bars, countlines, boxed assortments, chocolates pouches and bags, seasonal chocolates, chocolates with toys, and others.
- By Product Type: Based on the product type, the global chocolate confectionery market can be segmented into three segments: milk chocolates, dark chocolates, and white chocolates. In 2022, the milk chocolates segment dominates the market share due to its versatile application in various products, appealing creamy texture, and innovation in flavors and fillings, all strengthened by a commitment to ethical sourcing.
- By Price Point: The global chocolate confectionery market can be divided into three segments based on the price point: economy, mid-range, and luxury. During the forecasted period of 2023-2028, the mid-range segment of the chocolate confectionery market is expected to be the fastest-growing segment, due to its universal appeal, perceived quality, affordability, and alignment with the trend of chocolate as a comfort food and snack.
- By Age Group: The global chocolate confectionery market can be divided into three segments according to age group: adult, children, and geriatrics. During the forecasted period of 2023-2028, the geriatrics segment of the chocolate confectionery market is expected to be the fastest-growing segment, due to the rising global aging population, increased health awareness, and products tailored to their dietary needs, like antioxidant-rich and reduced sugar chocolates, as well as their substantial purchasing power.
- By Distribution Channel: The global chocolate confectionery market can be divided into six segments based on distribution channel: supermarkets/hypermarkets, convenience stores, specialty stores, e-commerce, duty-free stores, and others. The e-commerce segment of the chocolate confectionery market is expected to be the fastest-growing due to the increasing consumer preference for online shopping, the convenience of home delivery, and the ability to easily compare products and prices.
For more information about this report visit https://www.researchandmarkets.com/r/igqiz1
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