Global Chocolate Market: size was valued at US$ 125.0 Bn in 2020 and the total revenue is expected to grow at 5.1 % through 2021 to 2027, reaching nearly US$ 177.06 Bn.
Global Chocolate Market Overview:
The market report for Global Chocolate Market includes information on market share and company profiles for the leading international competitors along with a thorough analysis of the competition. The scope of the study includes a complete examination of the Global Chocolate Market as well as the factors influencing regional variations in the growth of the industry.
Chocolate and premium chocolate goods are among the world’s most popular foods. Chocolate ingestion in moderation has been discovered to increase serotonin, a neurotransmitter that relaxes the brain and acts as an antidepressant. It also improves one’s temperament by releasing toxins. To best complement the celebration, chocolates available in a multitude of forms, sizes, and wrapping. Chocolate is a worth billions of dollars industry that is steadily expanding as new products are produced and advertised.
After market engineering, which included market statistics calculations, market size estimations, market predictions, market breakdown, and data triangulation, was complete, extensive primary research was carried out to gather data and confirm important figures. Throughout the market engineering process, top-down, bottom-up, and other data triangulation methodologies were routinely employed to conduct market estimates and forecasting for the general market segments and sub-segments detailed in this study. In order to provide vital information during the study, all data collected during the market engineering process is submitted to comprehensive qualitative and quantitative analysis.
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Global Chocolate Market Segmentation:
Based on Products, the global Chocolate market is segmented into Milk Chocolate, Dark Chocolate and White Chocolate. The Dark Chocolate segment held the largest market share of 70.7% in 2020. Dark chocolate consists of more than 60% cocoa content and is known to have health benefits like reducing the risk of cardiovascular diseases and improving blood flow is about to impel its demand in a forecast period. Absorption of dark chocolate offers a number of health benefits, including lowering anxiety and improving clinical depression symptoms. During the projected period, the category is expected to rise due to rising consumer recognition of dark chocolate as a healthy product.
Global Chocolate Market Key Players:
• Kraft Foods
• Moonstruck Chocolatier Co.
• Mars Inc.
• Ghirardelli Chocolate Co.
• Ferrero Group
• Hershey Foods Corp.
• Meiji Co Ltd
• Ezaki Glico Co Ltd
• August Storck KG.
• Barry Callebaut
• Lindt & Sprüngli Ag.
• Chocoladefabriken Lindt & Sprungli
• Olam International
• Fuji Oil Company Ltd.
• ECOM Agroindustrial Corporation Ltd.
• Cocoa Processing Co. Ltd.
• Touton S. A.
• BD Associates Ghana Ltd.
To identify the market’s leaders and project market revenue, primary and secondary research are both used. CEOs, marketing executives, and seasoned front-line employees were just a few of the notable thought leaders and subject matter experts that participated in the in-depth interviews for the main study. As a part of the primary study, extensive interviews with important thought leaders and business experts—including CEOs, marketing executives, and seasoned front-line staff—were conducted.
The secondary study included a review of the annual and financial reports of the major manufacturers. Secondary data is employed to calculate percentage splits, market shares, growth rates, and global market breakdowns. The results of these calculations are then put up against the original data in comparison. The Global Chocolate market is dominated by the following businesses:
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The regional market research report for Global Chocolate also includes information on the specific market driving forces and changes in market legislation that have an impact on current and future market trends. Current and forthcoming trends are studied in order to evaluate the potential market as a whole and find profitable patterns to lay a stronger foundation. The evaluation of the regional market is built on the basis of the current environment and expected trends.
COVID-19 Impact Analysis on Global Chocolate Market:
A stop in activities between January 2020 and May 2020 resulted in a fall in the growth of end-user industries utilising Global Chocolate. These countries included Spain, France, Italy, China, the United States, the United Kingdom, and Spain. The market for Global Chocolate manufacturers as well as the profits of companies operating in these sectors consequently experienced a sharp decline. This affected the market’s growth in 2020. Due to lockdowns and an increase in COVID-19 occurrences globally, end-user business demand for Global Chocolate has been severely decreased.
Key Questions Answered in the Global Chocolate Market Report are:
- Which market segment has the highest percentage of Global Chocolate in 2021?
- To what extent is there competition in the market?
- What are the primary factors influencing the growth of the Global Chocolate market?
- What portion of the market does region Global Chocolate control?
- What is the expected market CAGR from 2022 to 2029?
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