NEW YORK, Jan. 31, 2022 /PRNewswire/ --The premium chocolate market is estimated to grow by USD 16.48 billion from 2020 to 2025, and the market's growth is anticipated to accelerate at a CAGR of 9.40%.
Factors such as growing popularity and demand for new product launches are significantly driving the premium chocolate market.
Our research report on "Premium Chocolate Market – Forecast and Analysis Report 2021-2025" has extensively covered factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the market share during the forecast period.
Premium Chocolate market report key highlights
Premium Chocolate Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of 9.40% |
Market growth 2021-2025 |
$ 16.48 billion |
Market structure |
Fragmented |
YoY growth (%) |
8.50 |
Regional analysis |
Europe, North America, APAC, South America, and MEA |
Performing market contribution |
Europe at 36% |
Key consumer countries |
US, Germany, UK, Belgium, and China |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
CEMOI Group, Champlain Chocolate Co., Chocoladefabriken Lindt & Sprungli AG, Ferrero International SA, Mars Inc., Mondelez International Inc., Nestle SA, Pierre Marcolini Group, The Hershey Co., and Yildiz Holding A.S. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Do reach out to our analysts for more customized reports as per needs. Speak to our Analyst now!
Premium Chocolate Market Trend
The growing demand for organic, vegan, gluten-free, and sugar-free chocolates is one of the key drivers for the global premium chocolate market share growth. The rising awareness about the effects of synthetic products on the health and environment among health-conscious consumers has shifted their preference towards organic products including the premium chocolate sector. As organic foods are beneficial in terms of health they are becoming more popular in the market with consumers showing concern for ingredients used in the chocolates. Thus, the changing preferences by the end-users have encouraged major players to come up with a wide variety of organic chocolates for gaining health-conscious consumers.
Premium Chocolate Market Challenge
One of the most important challenges for the growth of the market is the fluctuating price of basic raw materials including sugar, milk powder, and cocoa beans. The price of premium chocolates is higher than other conventional chocolates, and the rising cost of these raw materials will lead to a further increase in the cost of production. This is further passed down to consumers by either reducing the portion size of chocolates or by increasing the prices. Additionally, the productivity of crops also gets affected by epidemics, drastic weather conditions, and other adverse conditions resulting in a rise in the prices of crops.
Get free sample for extensive insights on key market Drivers, Trends, and Challenges influencing the premium chocolate market.
Key market vendors insights
The premium chocolate market is fragmented, and the vendors are deploying various organic and inorganic strategies to compete in the market.
Some of the key market vendors are:
For more detailed highlights on products offerings and the growth strategies adopted by other vendors, Download free sample report
The dark premium chocolate segment will be significant in the premium chocolate market share growth during the forecast period. Dark chocolate, also known as black chocolate and plain chocolate, is rich in fiber, antioxidants, iron, and magnesium. Moreover, it can also help in improving cognitive functions and blood flow and is less detrimental to teeth than other forms of chocolate. Thus, the multiple health benefits will significantly increase the demand for dark premium chocolate among the consumers facilitating the growth in this segment.
Regional Market Analysis
Europe will contribute to 36% of the global premium chocolate market share growth during the forecast period. Belgium, Germany, and UK are the major markets for premium chocolate in Europe.
The increasing per capita consumption of chocolate along with the presence of key vendors in Europe is expected to boost the premium chocolate market growth in the region.
Request our free sample for additional highlights and key segments that are expected to impact the market during the forecast period.
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SOURCE Technavio
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