The growing demand for healthier chocolates is one of the major
trends being witnessed in the global
chocolate market 2019-2023. The demand for healthier chocolates such as
vegan, organic, and sugar-free chocolates has witnessed significant growth in
recent years. This is due to the high preference for healthy living and
awareness of the negative impacts of eating chocolates. Global firms such as
Mars, Mondelēz International, and Nestlé are reformulating their mass-market
chocolates to create a healthier image of their products in the market. The
demand for healthier chocolates is leading vendors to offer new healthy
chocolates with low-sugar content and increased fortification of nutrients.
Vendors are introducing dark chocolate bars, protein bars with chocolate,
sugar-free chocolates, and single-origin chocolate to cater to the high demand
for healthy and high-quality chocolates.
According to Technavio analysts, one of the key factors
contributing to the growth of the global chocolate market is the increasing
premiumization of chocolates:
Global chocolate market:
Premiumization of Chocolates
The global demand for premium chocolates is growing,
particularly in emerging economies such as China, India, and Brazil. Vendors
such as Mars, Barry Callebaut, and Mondelez International are increasing
efforts to improve differentiation. Premiumization, and personalization in
their chocolate segments with new premium offerings. For example, in August
2018 Mondelez International launched premium single bars under its GREEN &
BLACK'S portfolio to capture the growing premium single bar chocolate market.
Premium chocolates offer vendors higher profit margins and have a better taste
and quality. Thus, currently, many players are launching premium chocolates to
attract consumers who are influenced by price, packaging, ingredients,
exclusivity, and provenance. The practice of using premium chocolates as gifts
due to their quality and taste is also high. Thus, vendors such as
Chocoladefabriken Lindt & Sprungli, Ferraro, and Godiva Chocolatier (a
brand under Pladis) offer premium chocolates as gifts.
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Global chocolate market:
Segmentation analysis
The global chocolate market research report provides market
segmentation by product (milk chocolate, dark chocolate, white chocolate), and
by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of
the prominent factors influencing the market, including drivers, opportunities,
trends, and industry-specific challenges.
The milk chocolate held the largest share of the market in 2018,
accounting for over 45% share, followed by dark chocolate, and white chocolate
respectively. However, during the forecast period, the white chocolate segment
is expected to register the highest incremental growth, followed by the dark
chocolate segment.
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Some of the key topics covered in the report include:
Market Landscape
·
Market ecosystem
·
Market characteristics
·
Market segmentation analysis
Market Sizing
·
Market definition
·
Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
·
Regional comparison
·
Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
·
Vendors covered
·
Vendor classification
·
Market positioning of vendors
·
Competitive scenario
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