Chocolate Industry Surge: Key Growth Factors (2024–2030)

• Posted by preeti mmr Tue at 11:49 PM Filed in Other #Chocolate Industry  #Chocolate Industry Business  #Chocolate Industry Growth  #Chocolate Industry Demand  #Chocolate Industry Trends  28 views
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  Market Estimation & Definition

  The Chocolate Industry was valued at US$ 130.56 billion in 2023 and is projected to reach US$ 180.58 billion by 2030, expanding at a CAGR of 4.76% during the forecast period (2024–2030). Chocolate is a sweet, typically brown food preparation made from roasted and ground cacao seeds. It is commonly used in confectionery, bakery, beverages, and desserts. With its rising popularity across all age groups and cultures, chocolate has become a global staple in the food and beverage sector.

  Market Overview:

  Chocolate is made by baking cacao seeds from Theobroma cacao tree pods. To make the paste, the cacao beans are gathered, roasted, dried, and pulverised. The chocolate liquor and cocoa cream are separated from the dough using stresses. Coverage, dark, milky, white, and baked chocolate, as well as cocoa powder, are made by combining these two components in various quantities.

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  Market Dynamics:

  The popularity of dark chocolate is expected to rise over the coming years thanks to the fact that it helps in preventing cardiac diseases, in addition to another usage like chocolate cake and chocolate milk is gaining opportunities in the global market for chocolate.

  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.

  Chocolate's antioxidant content, blood pressure-lowering qualities and alleged anti-aging capabilities will continue to drive acceptance of chocolate and chocolate-related goods. Dark chocolate with a higher cocoa content is highly suggested for preventing or slowing the ageing process as well as some disorders including cardiovascular disease. Chocolate consumption will anticipated to be driven by these and other comparable potential benefits of chocolates.

   

   

  Segmentation Analysis

  by Product

  Milk Chocolate
  Dark Chocolate
  White Chocolate

  by Distribution Channel

  Online Channel
  Departmental Store
  Supermarket
  Hypermarket
  Others

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  Regional Insights:

  Europe dominate the global Chocolate market during the forecast period 2024-2030. Europe held the largest market share 45% in 2023. Due to the growing popularity of sugar-free, fat-free chocolates as a result of increased health consciousness Premium chocolates made from responsibly harvested cocoa from a specific estate are in growing market.

  North America held the second largest market share of xx% in 2023. As a result of the increased demand for chocolate confectionary. It is a major supplier of cocoa to fulfill the requirements of chocolate confectioneries; growth can be attributed to the increase in consumption. Asia Pacific is expected to grow at a higher CAGR of 6.9% in the global chocolate market during the forecast period. Due to an increase in customers' expendable income in developing world, as well as a shift in people's lifestyles based on western culture.

   

  Key Players are:

  1. Heinz
  2. Nestle
  3. Moonstruck Chocolatier Co.
  4. Mars Inc.
  5. Ghirardelli Chocolate Co.
  6. Ferrero Group
  7. Hershey Foods Corp.
  8. Cadbury
  9. Meiji Co Ltd
  10. Arcor
  11. Ezaki Glico Co Ltd
  12. August Storck KG.
  13. Barry Callebaut
  14. Amul
  15. Lindt & Sprüngli Ag.

  Conclusion

  With shifting consumer preferences, growing health awareness, and increasing demand for premium products, the global chocolate market is set for robust growth. Companies that align their strategies with sustainability, innovation, and customization will gain a competitive edge in the evolving landscape.

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