Global Fairtrade chocolate Market Expected to Reach USD 34,137.23 Million by 2027, With a CAGR Of 15.2% | Growth Market Reports
PUNE, India, Aug. 6, 2021 /PRNewswire/ -- According to a recent market study published by Growth Market Reports, titled, "Global Fairtrade Chocolate Market by Sources (Organic Fairtrade chocolates, and Regular Fairtrade chocolates), Types (Bars, Chips & Chunks, and Others), Certifications (UTZ Certified, Fairtrade International Certified, Fairtrade USA Certified, Rainforest Alliance Certified, and Others), Sales Channels {Offline (Supermarkets, Convenience Stores, Department Stores, Specialty Stores, and Others), Online (Company-owned Websites, and E-commerce)}, and Regions: Size, Share, Trends and Opportunity Analysis, 2017-2027", the market was valued at USD 11,372.83 Million in 2019 and is expected to grow at a rate of 15.2% by the year 2027. The global Fairtrade chocolate market is anticipated to grow significantly during the forecast period. Impulse purchasing behavior of consumers, increasing trend pertaining to fair trade chocolate consumption reducing child labor, increasing customer inclination towards organic Fairtrade chocolates, and increasing preference of consumers towards Fairtrade chocolate are some of the factors contributing to the market growth.
Key Market Players Profiled in the Report
- Divine Chocolate Limited
- Barry Callebaut
- Chocolate and Love
- Belvas Chocolate
- Stella Bernrain
- EMVI Chocolate
- Endangered Species Chocolate
- Fran's Chocolates
- Lily's Sweets
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
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This report also includes a complete analysis of industry players that cover their latest developments, product portfolio, pricing, mergers, acquisitions, and collaborations. Moreover, it provides crucial strategies that are helping them to expand their market share.
Highlights on the segments of the Fairtrade Chocolate Market
Based on Sources, the Fairtrade chocolate market is segregated into organic Fairtrade chocolate and regular Fairtrade chocolate. Regular Fairtrade chocolate is expected to grow at a significant rate during the forecast period. Non-organic chocolate involves cacao and sugar, which is grown with the help of chemical fertilizers, pesticides, and herbicides, which have a negative effect on the environment. The organic Fairtrade chocolate segment is projected to account for a substantial share of the market during the forecast period. Rising health consciousness and increasing consumer awareness about the demerits of consuming chemical-containing products are anticipated to increase the sale of organic Fairtrade chocolates, thus fueling the global Fairtrade chocolate market.
In terms of Types, the Fairtrade chocolate market is classified as bars, chips and chunks, and others. The bars segment is expected to grow at a rapid pace during the forecast period, owing to increasing demand for organic chocolate bars. The chips and chunks segment is anticipated to grow at a rapid pace during the forecast period. Chocolate chunks are available in irregular sizes, while chips are available in small teardrop shape. These are extensively used in baked products such as cookies or muffins.
Based on Certifications, the global Fairtrade chocolate is segregated into UTZ Certified, Fairtrade International Certified, Fairtrade USA Certified, and Others. The UTZ is committed to creating an efficient sustainability program with effective certification and traceability tools for socially and environmentally responsible cocoa production that meet the needs of producers and markets. The Fairtrade USA helps producers access high wages and create safe working conditions. This certification-authorizing body has grown into a leading market-based model of sustainable production, trade, and consumption of Fairtrade chocolates.
In terms of Sales Channels, the global Fairtrade chocolate is segmented into online and offline. The online segment is further segmented into company-owned websites and e-commerce. The offline segment is sub-segmented into supermarkets, convenience stores, department stores, and others. The supermarket sub-segment is expected to expand at a rapid pace during the forecast period, due to availability of Fairtrade chocolates. Furthermore, supermarkets are placing premium Fairtrade chocolates, such as organic Fairtrade chocolate, around the point of sale for a high-priced impulse purchase. The convenience stores sub-segment is projected to expand at a rapid pace during the forecast period, due to the sale of a limited range of Fairtrade chocolates. The e-commerce sub-segment is anticipated to grow at a significant rate during the forecast period due to rising number of online purchases of chocolates as gifts among consumers.
On the basis of Regions, the global Fairtrade chocolate market is fragmented into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. North America accounted for a significant share of the market in 2019 due to the presence of a large number of companies offering Fairtrade chocolate in the US. The market in Europe is expected to grow at a rapid pace during the forecast period, due to the presence of certified cocoa and Fairtrade chocolate market in UK and Germany. South Africa dominates the Fairtrade chocolate market in the Middle East & Africa, as around 30% of the total world's cocoa is produced in Ghana. China accounts for the largest share of the market in Asia Pacific, while the market in Japan is projected to expand at a rapid pace during the forecast period. The use of Fairtrade cocoa and chocolate is growing in developing economies such as India and China due to the growing consumption of cocoa.
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Key Takeaways from the Study:
- The market in UK has a significant market share and is expected to grow at substantial CAGR during the forecast period.
- The organic Fairtrade chocolate segment is expected to hold a significant market share position during the forecast period.
- The bar segment is anticipated to hold a significant market share during the forecast period.
- The market in China has a significant market share and is expected to grow at substantial CAGR during the forecast period.
Read 293 Pages Research Report with Detailed ToC on "Global Fairtrade Chocolate Market by Sources (Organic Fairtrade chocolates, and Regular Fairtrade chocolates), Types (Bars, Chips & Chunks, and Others), Certifications (UTZ Certified, Fairtrade International Certified, Fairtrade USA Certified, Rainforest Alliance Certified, and Others), Sales Channels {Offline (Supermarkets, Convenience Stores, Department Stores, Specialty Stores, and Others), Online (Company-owned Websites, and E-commerce)}, and Regions (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028"
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Key Segments Covered
By Sources
- Organic Fairtrade Chocolate
- Regular Fairtrade Chocolate
By Types
- Bars
- Chips & Chunks
- Others
By Certifications
- UTZ Certified
- Fairtrade International Certified
- Fairtrade USA Certified
- Rainforest Alliance Certified
- Others
By Sales Channels
- Offline
- Supermarkets
- Convenience Stores
- Department Stores
- Specialty Stores
- Others
- Online
- Company-owned Websites
- E-commerce
By Regions
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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