Global Chocolate Market To Grow Rapidly And Can Reach Around USD 161.56 Billion By 2024

30-Dec-2019 | Zion Market Research

Zion Market Research has released a new report “Chocolate Market by Type of Chocolate (Dark, Milk, and White) and by Sales Category (Everyday Chocolate, Premium Chocolate, and Seasonal Chocolate): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017 – 2024”. As per the report, the global chocolate market was estimated at around USD 103.28 Billion in 2017 and is anticipated to reach USD 161.56 Billion in revenue by the end of 2024, growing at a CAGR of 7% during 2018–2024.

Chocolate is a very popular, profitable & consumed component of the confectionery industry worldwide. On the basis of the quantity of cocoa, various ranges of chocolates are manufactured globally. The rising preference of customers is a major factor that ultimately helps companies to target product development and marketing strategies for the expansion of a global consumer base. This helps in obtaining new markets and is driving the growth of the global market for chocolate.

Browse the full "Chocolate Market by Type of Chocolate (Dark, Milk, and White) and by Sales Category (Everyday Chocolate, Premium Chocolate, and Seasonal Chocolate): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017 – 2024" report at https://www.zionmarketresearch.com/report/chocolate-market

A major aspect contributing to the overall augmentation of this market in the forecast period is the surging disposable earnings of the population in emerging nations across Asia-Pacific. Another aspect helping for the expansion of this market is the massive demand for chocolate during festivals and seasonal occasions. Nevertheless, the high cost of raw material can impact the global chocolate market in the estimated period.

The global chocolate market is categorized based on type and sales. With reference to type, the global chocolate market is divided into milk, dark, and white segments. The dark chocolate segment is anticipated to attain the major market share during the forecasted period. Dark chocolate has numerous health benefits, for example, it protects the skin from the sun, enhances brain function, improves blood flow, reduces blood pressure, and decreases the peril of heart diseases. This contributes to attracting more customers. Moreover, it is a rich source of antioxidants and contains minerals, soluble fibers, & bioactive compounds. Hence, due to its broad range of health benefits, the demand for dark chocolate is likely to rise and help in boosting the global chocolate market in the forecast period.

On the basis of the sales segment, the chocolate market globally is divided into everyday chocolate, seasonal chocolate, and premium chocolate. The everyday chocolate segment is projected to gain more market share in relation to value than others, owing to its reasonable pricing. Based upon geography, North America region is expected to dominate the global chocolate market. This augmentation is due to the presence of major chocolate producers in the region, such as Mondelez International, Mars Inc., The Hershey Company, etc. Europe is also estimated to play major considerable role in the global market of chocolate due to rise in manufacturing units and the advanced supply chain facilities for products. In addition, Asia-Pacific is the fastest expanding region owing to a surge in the disposable income of the population in countries, like India and China.

The report studies the detailed profiles of major players, such as Ghirardelli Chocolate Company, Nestle SA, Ferrero Group, Mars Inc., Barry Callebaut, Cadbury, The Hershey Company, Moonstruck Chocolate Company, and Amul (GCMMF). The in-depth description of players includes different parameters: company overview, business strategies, financial overview, and the latest developments of the company.

This report segments the global chocolate market as follows:

Global Chocolate Market: Type Segment Analysis

  • Dark
  • Milk
  • White

Global Chocolate Market: Sale Segment Analysis

  • Everyday Chocolate
  • Premium Chocolate
  • Seasonal Chocolate

Global Chocolate Market: Regional Segment Analysis

  • North America
    • The U.S.
  • Europe
    • UK
    • France
    • Germany
  • Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • Middle East and Africa

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