The global
chocolate market is poised to grow by USD 41.15 billion during
2020-2024, progressing at a CAGR of over 5% during the forecast period.
The market is driven by the increasing premiumization of
chocolates. In addition, the New product launches is anticipated to boost the
growth of the chocolate market.
Vendors are introducing new premium chocolates for
differentiation and personalization of their chocolate segment. This is driving
the demand for premium chocolates from emerging economies including Brazil,
India, and China. The sales of premium chocolates help vendors to improve their
profit margins as customers are highly influenced by exclusivity, packaging,
provenance, ingredients, and price. Thus, the increasing premiumization of
chocolates is expected to drive market growth during the forecast period.
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Major Five Chocolate Companies:
Arcor Group
Arcor Group has its business operations under three segments,
such as consumer food products, agribusiness, and packaging. The company
provides different varieties and flavors of chocolate products under various brands
such as Arcor, Cofler, and Tofi.
Barry Callebaut AG
Barry Callebaut AG operates its business through various
segments, such as food manufacturers, cocoa products, and gourmet &
specialties. The company provides different varieties and flavors of chocolate
products such as ruby chocolate, dark chocolate, milk chocolate, and caramel
doré chocolate.
Chocoladefabriken Lindt & Sprüngli AG
Chocoladefabriken Lindt & Sprüngli AG has its business
operations under three geographic regions, such as Europe, North America, and
ROW. The company provides different varieties and flavors of chocolate products
under various brands such as Lindt, Ghirardelli, Caffarel, and others.
Ferrero International SA
Ferrero International SA operates its business through four
segments, such as Nutella, Kinder, Ferrero Pralines, and Tic Tac. The company
offers chocolates such as Ferrero Rocher and Raffaello.
Mars Inc.
Mars Inc. has its business operations under various segments,
such as Mars Petcare, Mars Wrigley Confectionery, Mars Food, Mars Drinks, and
Mars Edge. The company offers chocolate products such as Skittles, M&M'S,
SNICKERS, TWIX, MILKY WAY, and others.
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