Chocolate Confectionery Market By Product Type (Dark chocolate, Milk chocolate, White chocolate), By Price point (Economy, Mid-range, Luxury), By Age Group (Children, Adult, Geriatic), By Distribution channel (Supermarkets/hypermarkets, Convenience stores

Chocolate Confectionery Market By Product Type (Dark chocolate, Milk chocolate, White chocolate), By Price point (Economy, Mid-range, Luxury), By Age Group (Children, Adult, Geriatic), By Distribution channel (Supermarkets/hypermarkets, Convenience stores, Pharmaceutical and drug stores, Specialty stores, Duty-free stores, E-commerce, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031

The chocolate confectionery market was valued at $77,614.9 million in 2021 and is estimated to reach $118,587.9 million by 2031, registering a CAGR of 4.0% from 2022 to 2031. Chocolate confectionery is a chocolate-based delicacy with layers or combinations of nuts, fruit, caramel, nougat, and wafers. Chocolate confections come in a variety of shapes and sizes. There are several chocolate confectionary brands to choose from. A prominent example of chocolate confectionery, is a Snickers bar, which is consisting of nougat, caramel, and peanuts and is covered in milk chocolate, is a good example. Product innovations, an increase in the habit of giving candy, economic growth, an increase in disposable income, and other factors are propelling the chocolate confectionery market expansion. Consumer habits, tastes, and preferences are continually changing, prompting producers to provide innovation in the realm of chocolate confectionery in order to captivate consumers.

Innovation, processing, and packaging are important industry growth drivers. Customer health knowledge and consciousness, as well as changing consumer eating habits and tastes, drive innovation. Furthermore, it meets changing client expectations, and producers broaden their product offerings by including helpful nutrients, organic herbal fillings, tropical fruit, and nut-based & exotic flavors in product formulations. Innovative packaging strategies, such as attractive jars, family-sized packs, resealable packaging, and advertising, boost product sales and enhance awareness. Divine Chocolate, for example, debuted new branding in 2021, complete with vivid new packaging and a strong call to action to help eliminate cocoa industry exploitation. Divine Chocolate's new design depicts a unique handshake surrounded by the statement every bar directly affects the lives of farmers to represent the company's engagement with farm owners. The adoption of varied packaging and promotional activities in chocolate confectionery items enhances the chocolate confectionery industry's global expansion and development.

The organic and luxury chocolate confectionery megatrend has attracted a broader spectrum of customers. Most customers are willing to pay a premium for organic chocolates because they believe they provide extra advantages. Organic chocolates, on the other hand, have gained popularity among customers due to their high antioxidant content. Because of the health-halo advantages of dark chocolate and its clean components, the market for dark and organic chocolates is rapidly expanding. For example, the Lindt 99% Noir Dark Chocolate was one of the most popular cocoa chocolates due to customer demand. The organic chocolate confectionery industry is growing in popularity, particularly among millennial clients who are concerned not just with the influence of the confectioneries on their health and advantages. Lower-calorie food items accounted for 82% of sales increase among Healthy Weight Commitment Foundation member firms such as Kraft Foods and Nestle U.S., according to Hudson Institute, Inc. Manufacturers like Mars are reformulating their products and focusing on sugar-free, functional, and organic variations. The market release of these versions is likely to improve value sales and assist manufacturers in delivering items that support the health and wellness trend.

The chocolate confectionery market is segmented on the basis of product type, price point, age group, distribution channel, and region. Depending on product type, the market is classified into dark chocolate, milk chocolate, and white chocolate. By price point, it is segregated into the economy, mid-range, and luxury. Depending on age group, it is segregated into children, adult, and geriatric. By distribution channel, it is categorized into supermarkets/ hypermarkets, convenience stores, pharmaceuticals & drug stores, specialty stores, duty-free stores, e-commerce, and others. Region-wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Australia, and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, Turkey, and rest of LAMEA).

Players operating in the global chocolate confectionery market have adopted various developmental strategies to expand their chocolate confectionery share, increase profitability, and remain competitive in the market. Key players profiled in this report include Barry Callebaut, Chocoladefabriken Lindt & Sprüngli AG, Delfi Limited, Ferrero International S.A, Lotte Corporation, Mars, Incorporated, Mondelez International, Inc, Nestle S.A, Perfetti Van Melle, and The Hershey Company.

Key Benefits For Stakeholders

This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the chocolate confectionery market analysis from 2021 to 2031 to identify the prevailing chocolate confectionery market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the chocolate confectionery market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global chocolate confectionery market trends, key players, market segments, application areas, and market growth strategies.

Key Market Segments

By Product Type

Dark chocolate
Sub type
45%-65% cocoa
65%-80% cocoa
80% and above cocoa
Milk chocolate
Sub type
Animal milk
Plant milk
White chocolate

By Price point

Economy
Mid-range
Luxury

By Age Group

Children
Adult
Geriatic

By Distribution channel

Supermarkets/hypermarkets
Convenience stores
Pharmaceutical and drug stores
Specialty stores
Duty-free stores
E-commerce
Others

By Region

North America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Australia
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Turkey
Rest of LAMEA

Key Market Players

Barry Callebaut
Delfi Limited
Ferrero International S.A
Lotte Corporation
Mars Incorporated
Mondelez International, Inc.
Nestle S.A
Perfetti Van Melle
The Hershey Company
Chocoladefabriken Lindt and Sprüngli AG

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