23-Nov-2021 | Zion Market Research
As per the findings of Zion Market Research study, Chocolate industry amassed revenue of about US$ 136.01 billion in 2020 and is set to earn proceeds of approximately US$ 192.12 billion by 2028. In addition to this, Chocolate market is expected to record highest gains of nearly about 4.7% in 2021-2028. Furthermore, expansion of chocolate market over assessment period can be credited to growing demand for chocolate products such as dark chocolate as an antioxidant. In addition to this, impulse purchasing pattern witnessed among millennial population owing to surging awareness of product on social media & television will favor growth of chocolate market. Apart from this, as chocolate aids in mind relaxation and inducting happiness, it is likely to boost market growth in years ahead. Growing preference for premium chocolates in large number of countries will contribute significantly towards size of chocolate market in years ahead.
Milk Chocolate To Dominate Type of Chocolate Segment Over 2021-2028
Growth of milk chocolate segment over assessment period is subject to first mover advantage of the product. In addition to this, wide penetration and popularity of milk chocolate will contribute noticeable towards expansion of milk chocolate segment. Apparently, easy access to cocoa in comparison to carob will proliferate size of segment over ensuing years.
Europe To Account For Lucrative Contributions Towards Overall Market Size By 2028
Growth of regional market over anticipated timespan is due to rise in demand for cost-effective chocolates along with massive consumption of dark chocolates in countries such as Germany. Growing use of cocoa has further contributed to regional market revenue. Additionally, demand for premium chocolates will proliferate elevation in value of chocolate market in European continent.
Key players influencing market growth and profiled in report are Nestle S.A., Barry Callebaut, The Australian Carob Co, Arcor, Chocoladefabriken Lindt & Sprüngli AG, Mondelez International, Inc., Ferrero Group, The Hershey Company, Mars, Incorporated, and Meiji Holdings Co., Ltd.
Browse the full “Chocolate Market- By Type Of Chocolate (Dark, Milk, And White), By Sales Category (Everyday Chocolate, Premium Chocolate, And Seasonal Chocolate), And By Region- Global Industry Perspective, Comprehensive Analysis, And Forecast, 2021 – 2028.” Report at https://www.zionmarketresearch.com/report/chocolate-market
The global Chocolate Market is segmented as follows:
By Type of Chocolate
By Sales Category
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