Chocolate Market Size to Grow by $ 41.72 Billion through 2021-2025 | Forecast and Trend Analysis
Technavio has been monitoring the chocolate market and it is expected to grow by $ 41.72 billion, accelerating at a CAGR of almost 4.95% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking
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Chocolate Market: Emerging Trends to Impact Market Growth
Growth by the milk chocolate segment will be a key trend in the chocolate market. Europe has been exhibiting a significant growth rate for chocolate market vendors. Factors such as the increasing number of product innovations and launches are accelerating the chocolate market growth in Europe. In addition the global demand for premium chocolates is growing, particularly in emerging economies such as China, India, and Brazil. Vendors such as Mars, Barry Callebaut, and Mondelez International Inc., are increasing efforts towards differentiation, premiumization, and personalization in their chocolate segments with new premium offerings. Premium chocolates offer vendors higher profit margins and have better taste and quality. Thus, currently, many players are launching premium chocolates to attract consumers who are influenced by price, packaging, ingredients, and exclusivity.
This report provides a detailed analysis of all the trends and drivers that are likely to influence the growth of individual segments within the market as well as the overall market in focus. This analysis will enable clients to assess their play in the market and plan for growth opportunities.
Chocolate Market: Vendor Analysis
The market is fragmented due to the presence of several players. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. Arcor Group, Delfi Ltd., Ferrero International SA, Lindt and Sprüngli Group, Mars Inc., Mondelez International Inc., Nestle SA, The Australian Carob Co., The Hershey Co., and Yildiz Holding A.S. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.
Technavio custom reports provide market insights at the global and regional level along with a pipeline analysis of new product launches. It also provides a peek into the latest R&D along with an impact analysis of government regulations. For more insights into this market: Download a Free Sample Report
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