Global Chocolate Market is worth US$ 140 Billion in 2021 due to increasing consumption

WILMINGTON, Del. - Feb. 7, 2023 - PRLog -- The "Global Chocolate Market" report analyzes the global chocolate market by product type, product form, application, pricing, sales channel, and region. The report is comprehensive and provides thorough historical and forecast market size, along with an analysis of trends.

Marketing Overview and Dynamic

The chocolate market is expected to expand at a CAGR of 6% between 2022 and 2028. Chocolates are luxurious items for people to give to their loved ones. In addition, a variety of doctors all over the globe recommend moderate consumption of chocolate because it boosts serotonin, which aids in relaxing the brain and has antidepressant effects. All these reasons are expected to create a pool of opportunities for the global chocolate market.

For instance, SMOOR, an Indian-origin premium chocolate brand, focuses on including immune-boosting components like turmeric, pumpkin seeds, amla, and ashwagandha, on providing a special element of distinction. Including local flavors that keep the chocolates true to their Indian taste will aid the company in establishing its market.

Segmental Overview

• Based on product type, chocolates hold a prominent share of the market as the demand for various chocolates like white chocolate, dark chocolate, milk chocolate, etc. among others will continue to dominate the global chocolate market in the upcoming years.

Competition Analysis

The global chocolate market is expected to witness numerous growth opportunities as chocolates with higher content of cocoa extracts are merging as a popular and preferable indulgence.

Acquisitions, product launches, and partnerships are the identified industry trend in the global chocolate market. Significant consolidation is expected in the global chocolate market during the forecasting period 2022-2028.

• In March 2022, Barry Callebaut announced the expansion of its factory in Campbellfield, Melbourne, Australia. The new factory expands the company's geographical footprint in the Asia Pacific by creating safe, high-quality products.

Some of the prominent players that contribute significantly to the global chocolate are Nestle SA, Barry Callebaut, The Hershey Company, Lindt & Sprungli AG, The Australian Carob Co, Ferrero Group, Mars Incorporated, Meiji Holdings Co Ltd., and Ghirardelli Chocolate Co. among others.

RationalStat has segmented the global chocolate market based on product type, product form, application, pricing, sales channel, and region.

• By Product Type
  • Cocoa Ingredients
    • Cocoa Butter
    • Cocoa Liquor
    • Cocoa Powder
  • Chocolate
    • White Chocolate
    • Dark Chocolate
    • Milk Chocolate
  • By Product Form
    • Molded
    • Countlines
    • Softlines/Selflines
  • By Application
    • Food Products
      • Bakery Products
      • Sugar Confectionary
      • Desserts
    • Beverages
  • By Pricing
    • Everyday Chocolate
    • Premium Chocolate
    • Seasonal Chocolate
  • By Sales Channel
    • Offline
      • Retail Stores
      • Convenience Stores
    • Online/E-commerce
  • By Region
    • North America
      • US
      • Canada
    • Latin America
      • Brazil
    • Western Europe
      • Germany
      • UK
      • France
    • Eastern Europe
      • Russia
      • Poland
    • Asia Pacific
      • China
      • Japan
    • Middle East & Africa
      • GCC
      • South Africa
      • Turkey

For more information about this report https://store.rationalstat.com/store/global-chocolate-market-analysis-forecast/