Global Chocolate Confectionery Market Size, Insights, Drivers, Opportunities, By Product (Countlines, Boxed, Molded Bar, Straightlines, Others), By Type (Milk Chocolate, Dark Chocolate, White Chocolate), By Region, Growth, Trends and Forecast from 2019 to 2027
Global Chocolate Confectionery Market Size, Insights, Drivers, Opportunities, By Product (Countlines, Boxed, Molded Bar, Straightlines, Others), By Type (Milk Chocolate, Dark Chocolate, White Chocolate), By Region, Growth, Trends and Forecast from 2019 to 2027
Historic years: 2015 to 2017 Forecast Years: 2019 to 2027 Number of pages: 100
Base Year: 2018 Category: F & B Report Id: MISFnB5001
Market Insights
The global chocolate confectionery market was valued at USD 128.18 billion in 2018 and is estimated to reach a value of USD 166.82 billion in 2027. The market is analyzed to rise at a CAGR of 2.97% over the forecast period of 2019 to 2027. Major driver attributing the market growth is favorable government initiatives and mandates, high advertising campaign by manufacturers and rising adoption of prophylaxis treatment.Global chocolate confectionery market size by region, 2018 (USD Billion)
Further, chocolate confectionery producing firms conduct many promotional activities to extend their market reach among their targeted market. Additionally, promotional events, appealing packaging of merchandise, and innovative branding activities increase the demand in the global chocolate confectionery market. For instance, Ferrero India launched Kinder Joy chocolate in the market by keeping kids as the target audience. As the product is new in the market, they invested heavily on promotional and branding activity which is the result of successfully positioned product in the market. In 2016, they have launched one storytelling platform namely Kinder joy Story Station. This platform had received 2.2 million calls in the first three months.
It is been observed that the rising demand for chocolates and decreasing raw material coca cost are driving the market growth. As per a report of CNBC, in 2017, coca price was valued to be four years low. Another report by financial times conveys that global cocoa price was 40% of low in 2017. Increasing health consciousness among consumer has driving manufacturer to increase their product line among saturated fat, trans fats, sweeteners and artificial flavors in favor of ingredients such as cane sugar, organic wheat flour, corn starch, and rice syrup.
Product Insights
Countlines product category was valued to be the largest market. In 2018, this category accounts for 23.46% of the global market. It is an eaten and go product that drives the customer to consume countline chocolates more. The Boxed category is expected to be the fastest growing segment. This category is expected to grow at a CAGR of 6.43% over the forecasted period of 2019 to 2027. Major factor anticipating this market growth is consumer growing trend to purchase chocolate in festivals such as Christmas, New Year, Easter and others.Type Insights
Milk chocolate product category was valued to hold the largest market. In 2018, this category accounts for 59.65% of the global market. The Dark chocolate category was estimated to be the fastest growing type over the forecasted period of 2019 to 2027. Consumer growing health awareness is driving market growth. Dark chocolate helps to decrease the probability of heart diseases for its antioxidant properties content.Global chocolate confectionery market value share by type, 2027 (%)
Regional Insights
Europe is the largest chocolate confectionery market. In 2018 Europe accounted for 39.2% of the global market. European people are more inclined toward chocolate consumption. Switzerland, Italy, Germany, U.K. Ireland are the major chocolate consumer of this region. The Asia Pacific is the fastest growing chocolate confectionery market. Major factors attributing the growth of this market are growing middle-class population and increasing disposable income.Competitive Landscape
The market is fragmented with the presence of many small and large players. Companies are taking various strategies such as new product launch, product development, and others to increase and maintain their customer base. For instance, Nestlé S.A. has invested USD 16 million in 2017 for new product development.Research Methodology
The following report consists of market analysis including both primary and secondary research. Primary research comprises the interaction between manufacturers, industry experts, and channel partners, while the secondary research presents an analytical interpretation of relevant publications which contains details like proprietary databases, purchased database, company annual reports, and financial reports. For the single, team and corporate user license, we will provide 15% free customization of the report. However, alternatively, if you are looking for additional data or insight related to the scope of the report, you may purchase the "Customized Research License". Please put an inquiry for the pricing details.Highlights of the report
- All market drifts, drivers and opportunities
- Analyzing the regional market for the growth factors, estimated analysis and its penetration to the global market
- Understanding the dynamics of the parent market
- Prime fluctuations of the market dynamics
- Evaluation of the market opportunities
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Market segmentation and comprehensive analysis in the second or third level
- Reporting and evaluation of recent industry developments
- Analysis of market share and developments
- Detailed company profiling of leading companies
- Opportunities to newer markets in global and regional markets
- Analyzing the trajectory line of the business
- Measures to consider for chocolate confectionery products in the market
Segments covered in the report
Product Outlook- Countlines
- Boxed
- Molded bar
- Sessional chocolate
- Straightlines
- Others
- Milk chocolate
- Dark chocolate
- White chocolate
- North America
- U.S.
- Canada
- Mexico
- Europe
- U.K.
- France
- Germany
- Asia Pacific
- China
- India
- Japan
- Central & South America
- Brazil
- Middle East & Africa
- South Africa