Latest News- Chocolate Confectionery Market: Chocolate bars is expected to lead the Product segment during 2024-2028

The Chocolate Confectionery Market is being driven by Frequent product launches

The Chocolate Confectionery Market is expected to grow at a CAGR of 4.36% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 31 billion. In the dynamic chocolate confectionery market, vendors are investing in innovative packaging solutions to enhance product appeal and extend shelf life. Consumers are increasingly drawn to brands with distinct identities and provenance, which are effectively communicated through visually appealing packaging formats. Advanced packaging technologies shield confectionery items from external agents such as moisture and polluted air, ensuring product freshness. The premium chocolate confectionery segment is experiencing significant growth, prompting numerous players to adopt luxurious packaging variants. Recently, a leading chocolate manufacturer unveiled new packaging in collaboration with Bulletproof, a renowned US-based packaging design agency. This new packaging showcases a quality seal, underscoring the product's premium quality, which is derived from ethically sourced cocoa and superior ingredients. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Product
  • Chocolate bars
  • Boxed assortments and seasonal variants
  • Others
• Distribution Channel
  • Offline
  • Online
• Geography
  • Europe
    • Germany
    • UK
  • North America
    • US
  • APAC
    • China
    • India
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Frequent product launches
• Premiumization in chocolate confectionery
• Rising demand for organic, functional, vegan, and gluten-free chocolate confectioneries

However, the market also witnesses some limitations, which are as follows:

• Increase in number of product recalls
• Fluctuating prices of raw materials
• Increasing competition from new snacking options and other confectionery substitutes

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Market Scope in Chocolate Confectionery Market Research Report

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Research Analysis Overview

The Chocolate Confectionery Market experiences growth due to increasing chocolate consumption, particularly of premium quality products like milk mousse and creamy caramel. Health-conscious consumers opt for dark chocolate confectionery with label claims of organic and sustainably sourced chocolate. Premium, luxury indulgences such as artisanal chocolates with exotic spices, floral notes, and unexpected textures made from rare cocoa varieties appeal to chocolate lovers. These distinct flavor combinations offer a sensorial experience, setting them apart from mainstream chocolates.

Market Research Overview

The Chocolate Confectionery Market encompasses businesses engaged in the production and packaging of chocolate products to maintain their quality and extend their shelf life. According to Technavio, the global Chocolate Confectionery Market size is determined by the consolidated revenue of participating vendors. This market excludes manufacturers of chocolate processing machinery and producers of beverages, including alcoholic and non-alcoholic varieties. Market expansion will be fueled by several factors, including the health benefits linked to the consumption of premium quality chocolate products, such as dark chocolate, which contain essential nutrients and antioxidants. Consumer preferences for label claims, like simple ingredients and vegan options, have led to the emergence of peanut butter, milk mousse, creamy caramel, and healthy eating lifestyle-friendly confectionery items. Premium chocolate brands catering to these trends, such as Bar chocolates and molded bars, are gaining traction in grocery stores, e-commerce platforms, and during small occasions, as well as in home cooking and bakery items.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/