Global Milk Chocolate Market Is Expected To Reach $97.87 Billion By 2032

12-Jul-2024 | Zion Market Research

Zion Market Research has published a new report titled “Milk Chocolate Market by Form (Bar, Candies, Chocolate Coated Nuts, Chocolate Chips, and Others), By Nature (Organic and Conventional), By Application (Food & Beverages, Personal Care, Pharmaceuticals and Cosmetics), and by Distribution Channel (Hypermarkets/Supermarkets, Business-To-Business, E-Commerce, Specialty Retail, and Other Retail Formats), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2024 – 2032”. According to the report, the global milk chocolate market accounted for USD 56.00 billion in 2023 and is predicted to grow to around USD 97.87 billion by 2032 with a compound annual growth rate (CAGR) of roughly 6.4% between 2024 and 2032.

Milk chocolate is among the prominent products in the chocolate and dairy industry. It is produced by mixing solid chocolate with different milk forms like liquid, powdered, and condensed milk. The global milk chocolate market is expected to show substantial growth over the forecast time period, owing to the growing consumer demand for different flavored chocolates. This has paved the way for different varieties of chocolates in the milk chocolate market globally.

Moreover, various benefits of milk chocolate in cosmetic and pharmaceutical sectors are also boosting the market growth. However, the considerable shift toward dark chocolate in recent years may prove to a threat to the milk chocolate market.

Browse the full “Milk Chocolate Market by Form (Bar, Candies, Chocolate Coated Nuts, Chocolate Chips, and Others), by Nature (Organic and Conventional), By Application (Food & Beverages, Personal Care, Pharmaceuticals and Cosmetics), and by Distribution Channel (Hypermarkets/Supermarkets, Business-To-Business, E-Commerce, Specialty Retail, and Other Retail Formats), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2024 – 2032Report at https://www.zionmarketresearch.com/report/milk-chocolate-market

Global Milk Chocolate Market

The global milk chocolate market is fragmented based on form, nature, application, and distribution channel. By form, the global milk chocolate market includes bar, chocolate coated nuts, candies, chocolate chips, and others. The presence of all these forms has presented the consumers with a variety of choices, which has increased the overall milk chocolate consumption. Milk Chocolate bars and candies are the most common consumer choices, due to their easy availability and cost-friendliness.

On the basis of nature, the global market is categorized into organic and conventional. Conventional milk chocolate has maximum market applications, due to its easy preparation and cost-friendly nature. Alternatively, organic milk chocolate is gaining popularity among the consumer, due to its various health benefits, and is expected to show significant growth over the forecast time period.

Based on application, the milk chocolate market is classified into food and beverages, pharmaceuticals, cosmetics, and personal care. The food and beverage industry dominates the milk chocolate market globally. This can be attributed to a wide range of milk chocolate applications in the preparation of milkshakes, cakes, hot chocolate, and other bakery products. Additionally, the demand for milk chocolate has increased in the pharmaceutical sector, owing to the medicinal properties of milk chocolate, as its consumption helps in hydrating the skin, boosting memory, and reducing heart attack risk.

The distribution channel segment comprises business-to-business, hypermarkets/supermarkets, specialty retail, e-commerce, and other retail formats. Supermarkets and hypermarkets dominate the market globally, due to their offering of different types and brands of milk chocolate. The growing smartphone usage is driving the e-commerce segment, as consumers prefer to shop for various products from the comforts of their home.

Europe dominates the global milk chocolate market, both in terms of consumption and production, owing to the growing demand for milk chocolate by the region’s food and beverage industry. The Asia Pacific and North American regions are expected to show substantial growth rates over the forecast time period, owing to the high milk chocolate demand in these regions.

Milk Chocolate Market: Competitive Analysis

The global milk chocolate market is dominated by players like:

  • Ezaki Glico
  • Kinder Chocolate
  • Blommer Chocolate
  • Godiva Chocolates
  • Stella Bernrain
  • Nestle

This report segments the global milk chocolate market into:

Global Milk Chocolate Market: Form Analysis

  • Bar
  • Candies
  • Chocolate Coated Nuts
  • Chocolate Chips
  • Others

Global Milk Chocolate Market: Nature Analysis

  • Organic
  • Conventional

Global Milk Chocolate Market: Application Analysis

  • Food and Beverages
  • Personal Care
  • Pharmaceuticals
  • Cosmetics

Global Milk Chocolate Market: Distribution Channel Analysis

  • Hypermarkets/Supermarkets
  • Business-To-Business
  • E-Commerce
  • Specialty Retail
  • Other Retail Formats

Global Milk Chocolate Market: Regional Analysis

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

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