The companies are focusing more on altering their supply chains in order to reinforce their online presence and delivery measures, in an attempt to adapt to the present business environment. For instance, in February 2020, the company launched completely dairy-free chocolates to its plant craft range. The rising trend of organic and sustainably sourced chocolate has contributed to new product developments in the chocolate confectionery industry. Ferrero Group (Luxembourg / Italy) Founded in Italy, Ferrero has long been one of the world’s top … I appreciate the timeliness and responsiveness of you and your team.”, © 2020 Fortune Business Insights . However, the seasonal chocolate segment is anticipated to witness the fastest growth over the forecast period. The declining price of cocoa beans which is a key raw material in the manufacture of chocolate confectionery items is anticipated to have a favorable impact on market growth over the forecast period. The cocoa beans prices had been steadily increasing over the past few years. Swift Rise in Demand for Chocolate Confectioneries Due to Stockpiling During COVID-19 Lockdown. "Market Intelligence that Adds Flavour to Your Success", Region : Global | Format: PDF | Report ID: FBI100539. Moreover, it was also published by Eurostat that in 2015 production in Europe increased by 2.3% to reach 11,736.975 metric tonnes of product. The emerging trend of clean-label and organic products to maintain overall health & wellness has increased the demand for dark & sugar-free chocolate snacks with higher cocoa content. The huge population base, rising disposable income & consumerism, and the increasing focus of leading market players on expanding their presence in this region are key factors likely to drive market growth. The rising per capita income of consumers across the world has led to increased spending on premium, dark chocolates. The growing demand for such chocolates has encouraged manufacturers to introduce small, consumer packs in the market, which is expected to boost growth during the forecast period. However, consumers may not be willing to pay the higher prices, and may turn to cheaper alternatives instead. The leading players in the industry are taking efforts to develop and launch low-sugar chocolate products. Revenue in USD Million & CAGR from 2017 to 2025, North America, Europe, Asia Pacific, Latin America, & MEA, U.S., Canada, U.K., Germany, Japan, China, Brazil, Mexico, South Africa, and Saudi Arabia, Revenue, competitive landscape, growth factors, and trends, 15% free customization scope (equivalent to 5 analysts working days), If you need specific market information, which is not currently within the scope of the report, we will provide it to you as a part of customization. This is a very good piece of work and will be very helpful to us going forward. The global confectionery market can be segmented into five categories: chocolate confectionery, sugar confectionery, gum, cereal bars, and others. Which region held the highest share in the market? Major raw materials used in chocolates are cocoa and sugar, and raw materials used in gum include latex. Growing at a CAGR of 2.3%, the market will exhibit steady growth in the forecast period (2020-2027). The chocolate confectionery market is gaining momentum as a wide range of chocolate confections are vended through multiple distribution channels, such as supermarkets, grocery stores, hypermarkets, online stores, convenience stores, forecourt retailers, and specialty confectionery stores. The market in the region is primarily propelled by the growing trend of organic and clean-label chocolate confectioneries. The changes in consumer buying behavior and the dynamic shifts towards online and D2C distribution channels may have serious implications on the near future growth of the industry. In addition, several key market players invest significantly in R&D to improve product features and innovation and into marketing & promotional activities. How much is the chocolate confectionery market worth? The market exhibits a highly consolidated structure. In general, though, confectionery is divided into two broad and somewhat overlapping categories, bakers' confections and sugar confections. Privacy Policy. The chocolate confectionery market has witnessed significant growth globally. On the other hand, consumers also prefer the private label chocolate products considering the value for the price. The sugar and chocolate segments have witnessed a significant growth in overall confectionery market globally. For instance, The Hershey Company’s (one of the major players in this market) net sales stood at USD 2.037 billion in the first quarter of 2020 which is an increase of 1% compared to the same period a year ago. The milk chocolate segment is expected to be the leading segment in this market during the forecast period. However, the milk chocolate segment holds the major market share across the globe owing to its popularity among children and adolescents. Looking forward to work together on similar projects”, “We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. It looks quite comprehensive and the data is exactly what I was looking for. The demand for chocolate confectioneries in emerging economies such as China and India has witnessed an upward trend in recent years, attributed to the increasing consumer expenditure on indulgent confectionery products, especially chocolate items. In 2019, the chocolate segment accounted for the highest confectionery market share. Which is the leading segment in the market? It is also evolving by the varied eating preferences for innovative chocolate products. To get information on various segments, share your queries with us The report provides qualitative and quantitative insights into the market. Outlook on the Chocolate Confectionery Global Market to 2025 - Increase Profit Margins - ResearchAndMarkets.com The "World - Chocolate Confectionery (Not Containing Fillings) - … The key players such as Olam International, Cargill, Inc., Nestle S.A, and Berry Callebaut AG are focusing on strategic mergers, acquisitions, and partnerships to further consolidate the market. However, as per the Financial Times, in 2017 the prices of cocoa beans fell by around 40%. The MarketWatch News Department was not involved in the creation of this content. However, the dark chocolate segment is anticipated to register the fastest growth over the forecast period owing to the proven significant health benefits of these chocolates including its antioxidant properties and ability to reduce the risk of heart diseases. In 2019, the North America market value stood at USD 19.50 billion. Several prominent market players such as Barry Callebaut, Lindt, and Nestlé (all based in Switzerland); and Ferrero (Italy) are also present in the European region. Chocolate and Confectionery Manufacturing from Cacao Beans - 2021 U.S. Industry Market Research Report with COVID-19 Updates & Forecasts The 2021 Chocolate and Confectionery Manufacturing from Cacao Beans Market Research Report is one of the most comprehensive and in-depth assessments of the industry in the United States with over 100 data sets covering 2012-2025. The production and sales of chocolate items have experienced a sudden slump due to the outbreak of the COVID-19 pandemic. Shop candy & chocolate online at The Fresh Market. Barry Callebaut, Ferrero SpA, & Nestle S.A. are the major players in the market. In addition, appealing packaging of products, innovative branding activities, and promotional events increase the demand for chocolates amongst consumers. Purchase the Chocolate Confectionery in Portugal country report as part of our chocolate confectionery market research for September 2020. It also offers a detailed analysis of its utility, applications, availability of raw materials, types of chocolate confectionery, market size and growth rate for all possible segments in the market. In addition to the aforementioned factors, the report encompasses several factors that have contributed to the growth of the market over recent years. Barry Callebaut, a leading player in the chocolate industry, is focused on investing in the development of innovative products to strengthen its position in the market. Various strategies such as the introduction of innovative product offerings into the market, and marketing & promotions are being adopted by these key market players to increase the outreach of their products and expand their presence into emerging markets. U.S. Candy Market Size, Share & Trends Analysis Report By Product (Chocolate, Non-Chocolate Candy), By End Use, Competitive Landscape, And Segment Forecasts, 2018 - 2025 Published Date: Jan, 2018 Base Year for Estimate: 2016 Emerging Trend of Premiumisation to Drive Global Chocolate Sales. The rising interest in knowing the origin of chocolate and labor welfare concerns among consumers is expected to contribute to the growth in the demand for fair-traded cocoa and chocolate, strengthening the region’s position in the chocolate confectionery market share. The market in Asia Pacific is expected to grow at a significant CAGR. It provides the latest retail sales data 2015-2019, allowing you to identify the sectors driving growth. Similarly, in July 2017, Nestlé invested in an operations center in Uruguay in a deal worth CHF 17 million (around USD 16.6 million). It is dominated by five major players holding approximately 88% share in the entire market owing to their huge client base, strong brand loyalty, & robust distribution network. Consumers have purchased chocolate snacks and other confectionery products in bulk to sustain them for the next few months. Consumers are looking for healthy products that also provide indulgence. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The company also claims that its technology helps in reducing the sugar content by 70% in chocolate products. Chocolate Confectionery Market The ‘ Chocolate Confectionery market’ research report added by Report Ocean, is an in-depth analysis of the latest … The volume sales in the U.S. reached 1,410.20 thousand tons in 2019 and is projected to witness a marginal growth trend throughout the forecast years due to the consumer reticence towards high sugar intake. We value them as a research company worthy of building long-term relationships.”, “Well done Fortune Business Insights! Consumers in the U.S. are becoming more inclined towards chocolate confectionery products having reduced sugar content to cut down on the sugar intake levels. The data offered to us was exactly what we were looking for. Choose a new shopping mode. Increasing Association of Chocolate with Festivals & Special Occasions to Drive  Growth. The global chocolate confectionery market was equal to 94.81 billion USD (calculated in retail prices) in 2014. The revenue of the chocolate and confectionery market in the U.S. amounted to $6B in 2018, picking up by 13% against the previous year. This platform resulted in the company receiving over 2.2 million calls in three months. The report covered all the points and was very detailed. Reticence of U.S. Consumers towards Sugar Intake is Affecting Sales by Volume. The Fresh Market Dark Chocolate, Pink Sea Salt. The same is projected to affect the market as it will lead to higher costs to the chocolate manufacturers and increased cost of end products. The per capita consumption of chocolate in these countries is higher than the countries of other regions. Grand View Research is registered in the State of California at Grand View Research, Inc. 201 Spear Street 1100, San Francisco, CA 94105, United States. Growing Awareness Regarding Health Risks Associated with Chocolate Confectioneries to Impede Market Growth. This report forecasts revenue growth and provides an analysis of the latest trends in each of the sub-segments from 2014 to 2025. For instance, in June 2017, Ferrero opened an innovation center in Singapore. Euromonitor International is the leading provider of strategic market research reports. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. However, there is a swift reduction in the demand for premium chocolates amidst the pandemic wherein premium and specialty chocolate products are used seasonally and are majorly used as gifting products during travelling and festival celebrations. Chocolate Confectionery in Norway by Mintel Market Sizes provides you with annual year-end market size data, most recently updated in 2020. The spread of the COVID-19 pandemic and extended period of lockdowns is negatively affecting the chocolate product sales. Copyright © 2021 Grand View Research, Inc. All rights reserved. Fortune Business Insights says that the global chocolate confectionery market size was valued at USD 114.33 billion in 2019 and is projected to reach USD 136.42 billion by 2027. On the other hand, the company’s international and other segments’ net sales have declined by 8.1% due to the slowdown in purchases in the Chinese market as the COVID-19 pandemic impacted the country well before the other countries. Equally, another route would be to pass on the price increase to their customers. Increased consumer preference towards knowing the origin of ingredients used in chocolate confectioneries is expected to further foster the growth of specialty chocolates. To gain extensive insights into the market, Request for Customization. This will enable the market players to achieve sustainable growth in the industry. Chocolate confectionery items are popular gifting options especially during holiday seasons and festivals such as Christmas and Easter. The global confectionery market was valued at $210.3 billion in 2019, and is projected to reach $270.5 billion by 2027, registering a CAGR of 3.6%. Consumers look for novel chocolate flavors and innovative chocolate formulations, which fuels the segmental growth. The global chocolate confectionery market size was valued at USD 123.7 billion in 2016 and is expected to grow at a CAGR of 2.5% during the forecast period. According to the U.S. Department of Agriculture, grocery store sales were up 99% in the middle of March and 25% higher on April 1st in 2020, compared to the previous year. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”, “Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is also likely to be a vital impact rendering driver due to the growing health consciousness amongst the population. Request a Free sample to learn more about this report. Dark chocolate is a rich source of antioxidants, balances the blood pressure level, and offers many other advantages that entice consumers to buy it in the market. Moreover, the increased importance of seasonal chocolates during special events and their increased affordability is also aiding the growth of the market. Along with the growing population, the increase in the consumption of various confectionery products such as sugar, chocolate, gums, and others are growing. online dashboard trial. The market, on the basis of type, is segmented into milk, dark, and white chocolates. The chocolate confectionery market research report provides a detailed analysis of the market and focuses on key aspects such as leading companies, product types, and leading distribution channels of the product. Please fill out the form below for a free PDF report sample & Chocolate sales statistics for the recent months reveal that there is a huge rise in the purchase of chocolate items before the lockdown measures were implemented in almost all countries. For instance, in 2016, the company initiated an innovative platform for storytelling, namely ‘The Kinder Joy story station’ to increase brand engagement. As per Eurostat, in 2014, Europe had 12,315 companies producing 11.7 million tons of products annually. Countlines dominated the global chocolate confectionery market in 2016, as it is an easy snacking option that can be eaten on-the-go. Thus, the increasing number of people suffering from health conditions such as diabetes and cardiovascular diseases is expected to dampen the overall market growth during the forecast period. By continuing to visit this site you agree to our use of cookies . Furthermore, the situation is leading to the disruption of the supply chains including the movement of raw materials from the producing countries to the consuming countries. Cocoa is emerging as a healthy ingredient owing to its richness in antioxidants & minerals. Get your queries resolved from an industry expert. The market report provides qualitative and quantitative insights. Market research on the chocolate confectionery industry. The manufacturers are focusing on growing demand of chocolate confectionery and with new and innovative sustainable chocolate. New technologies for chocolate confectionery formulation along with the beneficial natural flavors and other ingredients have given rise to a new phase in this industry. Very satisfied with the overall report as it has helped me to build strategies for my business”, “This is regarding the recent report I bought from Fortune Business insights. For instance, Ferrero India has initiated several marketing activities to promote the sales of its Kinder Joy chocolates. Please wait while we are processing your request... Chocolate Confectionery Market Share, Trends, Research Report, 2025, Request discounts available for Start-Ups & Universities. The milk chocolate segment held the dominant market share in 2016. The chocolate confectionery market report finds that the competition in this market is set to get redefined and reoriented as leading companies direct … Thank you!”, “I recommend Fortune Business Insights for their honesty and flexibility. Euromonitor International's Chocolate Confectionery in Philippines report offers a comprehensive guide to the size and shape of the market at a national level. Chocoladefabriken Lindt & Sprungli AG (Zürich, Switzerland), Europe (U.K., France, Italy, Spain, Germany, and the Rest of Europe), Asia-Pacific (China, India, Japan, Australia, and the Rest of Asia- Pacific), South America (Brazil, Argentina, and the Rest of South America), Middle East & Africa (South Africa, UAE, and the Rest of the MEA), Granular Research on Specified Regions or Segments, Companies Profiled based on User Requirement, Broader Insights Pertaining to a Specific Segment or Region, Breaking Down Competitive Landscape as per Your Requirement, Other Specific Requirement on Customization. When it comes to the enjoyment of small delicacies all aspects have to be flawless to delight the consumer. Besides this, the report offers insights into the market trends for chocolate confectionery and highlights key industry developments. Technological Advancements Contribute to the Increasing Demand for Premium Chocolates. In the initial stages of lockdown, panic buying of food supplies by consumers contributed to the rapid growth in the sales of mainstream chocolates in retail channels as a source of indulgence and comfort. Remarkable job and great efforts by your research team. Europe is the largest market for confectionery products of chocolate and is expected to rise at a CAGR of 1.7% during the forecast period from 2020 to 2027. 1 oz. For the purpose of this study, Grand View Research, Inc. has segmented the chocolate confectionery market on the basis of product, type, and region: Product Outlook (Revenue, USD Million, 2014 - 2025), Type Outlook (Revenue, USD Million, 2014 - 2025), Regional Outlook (Revenue, USD Million, 2014 - 2025), We never share your personal data. Design an exclusive study to serve your research needs. In many countries across the world, chocolates are mainly consumed and associated with seasonal festive occasions, fuelling their demand in the global market. Welcome to The Fresh Market. Our support available to help you 24 hours a day, five days a week. In addition, the growth of premium chocolates available in this segment further bolsters this segment.
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