Global Chocolate Market Report and Forecast 2023-2028

Global Chocolate Market Report and Forecast 2023-2028


Market Outlook

According to the report by Expert Market Research (EMR), the global chocolate market reached a value of USD 127.7 billion in 2022. Aided by the unwavering consumer devotion and a constant stream of innovation, the market is projected to further grow at a CAGR of 4.4% between 2023 and 2028 to reach a value of USD 165.35 billion by 2028.

Chocolate's universal appeal lies in its ability to tantalise the senses and evoke nostalgia. Just as casein plays a pivotal role in various food products, chocolate reigns supreme in a myriad of culinary delights. From the smooth silkiness of a bar of dark chocolate to the comforting embrace of a mug of hot cocoa, the versatility of chocolate is unrivalled, which is a major driving factor of the chocolate market growth.

Beyond its delectable taste, chocolate has captured the attention of researchers and health enthusiasts alike. Recent studies have unveiled potential health benefits associated with moderate chocolate consumption. Dark chocolate, in particular, is heralded for its antioxidant-rich composition, believed to contribute to heart health and cognitive well-being. This newfound reputation has spurred a demand for premium, high-cocoa content chocolate products, aligning with the growing consciousness towards healthier indulgence.

The chocolate market outlook is likely to be shaped by its applications in diverse spectrum, resonating with various industries. In the realm of beauty and wellness, cocoa has found its place as a key ingredient in skincare products. With its rich source of antioxidants and moisturising properties, chocolate-infused lotions and masks offer a sensory spa experience that pampers and rejuvenates.

Similarly, chocolate's allure reaches even the most unexpected corners. The cosmetic sector has embraced cocoa's natural pigments to create a palette of warm, earthy tones, evoking the essence of indulgence and luxury. This harmonious blend of aesthetics and nature's gifts has transformed the way we perceive and utilise chocolate.

As dietary preferences evolve, so does the chocolate landscape. Much like casein stepping up to meet the demand for plant-based alternatives, chocolate has embarked on a journey to cater to diverse diets. The rise of veganism and lactose intolerance has spurred the development of dairy-free and vegan chocolate options, allowing everyone to savour the magic of cocoa, regardless of dietary restrictions.

Innovation has played a pivotal role in bolstering the chocolate market demand. Artisan chocolatiers are pushing boundaries, experimenting with unconventional flavour pairings and infusions. From chili-spiced dark chocolate to lavender-infused truffles, these creations redefine the very essence of chocolate, transforming it into a work of art that appeals not only to the taste buds but also to the soul.

Market Segmentation

The market can be divided based on product, category, distribution channel, and region.

Market Breakup by Product
  • Dark Chocolate
  • Milk Chocolate
  • White Chocolate
  • Others
Market Breakup by Category
  • Pure Chocolate
  • Compound Chocolate
Market Breakup by Distribution Channel
  • Supermarkets and Hypermarkets
  • Convenience Stores
  • Online
  • Others
Market Breakup by Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa
Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global chocolate market. Some of the major players explored in the report by Expert Market Research are as follows:
  • Mars, Incorporated
  • Mondelēz International, Inc.
  • Ferrero International
  • Nestlé S.A.
  • The Hershey Company
  • Chocoladefabriken Lindt & Sprüngli AG
  • August Storck KG
  • LOTTE Corp.
  • United Confectionary, SLU
  • Godiva Chocolatier, Inc.
  • Ghirardelli Chocolate Company
  • Meiji Holdings Co., Ltd.
  • Arcor Group
  • Barry Callebaut AG
  • Others
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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.


1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Chocolate Market Analysis
8.1 Key Industry Highlights
8.2 Global Chocolate Historical Market (2018-2022)
8.3 Global Chocolate Market Forecast (2023-2028)
8.4 Global Chocolate Market by Product
8.4.1 Dark Chocolate
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2022)
8.4.1.3 Forecast Trend (2023-2028)
8.4.2 Milk Chocolate
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2022)
8.4.2.3 Forecast Trend (2023-2028)
8.4.3 White Chocolate
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2018-2022)
8.4.3.3 Forecast Trend (2023-2028)
8.4.4 Others
8.5 Global Chocolate Market by Category
8.5.1 Pure Chocolate
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2022)
8.5.1.3 Forecast Trend (2023-2028)
8.5.2 Compound Chocolate
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2022)
8.5.2.3 Forecast Trend (2023-2028)
8.6 Global Chocolate Market by Distribution Channel
8.6.1 Supermarkets and Hypermarkets
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2018-2022)
8.6.1.3 Forecast Trend (2023-2028)
8.6.2 Convenience Stores
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2022)
8.6.2.3 Forecast Trend (2023-2028)
8.6.3 Online
8.6.3.1 Market Share
8.6.3.2 Historical Trend (2018-2022)
8.6.3.3 Forecast Trend (2023-2028)
8.6.4 Others
8.7 Global Chocolate Market by Region
8.7.1 North America
8.7.1.1 Market Share
8.7.1.2 Historical Trend (2018-2022)
8.7.1.3 Forecast Trend (2023-2028)
8.7.2 Europe
8.7.2.1 Market Share
8.7.2.2 Historical Trend (2018-2022)
8.7.2.3 Forecast Trend (2023-2028)
8.7.3 Asia Pacific
8.7.3.1 Market Share
8.7.3.2 Historical Trend (2018-2022)
8.7.3.3 Forecast Trend (2023-2028)
8.7.4 Latin America
8.7.4.1 Market Share
8.7.4.2 Historical Trend (2018-2022)
8.7.4.3 Forecast Trend (2023-2028)
8.7.5 Middle East and Africa
8.7.5.1 Market Share
8.7.5.2 Historical Trend (2018-2022)
8.7.5.3 Forecast Trend (2023-2028)
9 North America Chocolate Market Analysis
9.1 Market by Product
9.2 Market by Category
9.3 Market by Distribution Channel
9.4 Market by Country
9.4.1 United States of America
9.4.1.1 Market Share
9.4.1.2 Historical Trend (2018-2022)
9.4.1.3 Forecast Trend (2023-2028)
9.4.2 Canada
9.4.2.1 Market Share
9.4.2.2 Historical Trend (2018-2022)
9.4.2.3 Forecast Trend (2023-2028)
10 Europe Chocolate Market Analysis
10.1 Market by Product
10.2 Market by Category
10.3 Market by Distribution Channel
10.4 Market by Country
10.4.1 United Kingdom
10.4.1.1 Market Share
10.4.1.2 Historical Trend (2018-2022)
10.4.1.3 Forecast Trend (2023-2028)
10.4.2 Germany
10.4.2.1 Market Share
10.4.2.2 Historical Trend (2018-2022)
10.4.2.3 Forecast Trend (2023-2028)
10.4.3 France
10.4.3.1 Market Share
10.4.3.2 Historical Trend (2018-2022)
10.4.3.3 Forecast Trend (2023-2028)
10.4.4 Italy
10.4.4.1 Market Share
10.4.4.2 Historical Trend (2018-2022)
10.4.4.3 Forecast Trend (2023-2028)
10.4.5 Others
11 Asia Pacific Chocolate Market Analysis
11.1 Market by Product
11.2 Market by Category
11.3 Market by Distribution Channel
11.4 Market by Country
11.4.1 China
11.4.1.1 Market Share
11.4.1.2 Historical Trend (2018-2022)
11.4.1.3 Forecast Trend (2023-2028)
11.4.2 Japan
11.4.2.1 Market Share
11.4.2.2 Historical Trend (2018-2022)
11.4.2.3 Forecast Trend (2023-2028)
11.4.3 India
11.4.3.1 Market Share
11.4.3.2 Historical Trend (2018-2022)
11.4.3.3 Forecast Trend (2023-2028)
11.4.4 ASEAN
11.4.4.1 Market Share
11.4.4.2 Historical Trend (2018-2022)
11.4.4.3 Forecast Trend (2023-2028)
11.4.5 South Korea
11.4.5.1 Market Share
11.4.5.2 Historical Trend (2018-2022)
11.4.5.3 Forecast Trend (2023-2028)
11.4.6 Australia
11.4.6.1 Market Share
11.4.6.2 Historical Trend (2018-2022)
11.4.6.3 Forecast Trend (2023-2028)
11.4.7 Others
12 Latin America Chocolate Market Analysis
12.1 Market by Product
12.2 Market by Category
12.3 Market by Distribution Channel
12.4 Market by Country
12.4.1 Brazil
12.4.1.1 Market Share
12.4.1.2 Historical Trend (2018-2022)
12.4.1.3 Forecast Trend (2023-2028)
12.4.2 Argentina
12.4.2.1 Market Share
12.4.2.2 Historical Trend (2018-2022)
12.4.2.3 Forecast Trend (2023-2028)
12.4.3 Mexico
12.4.3.1 Market Share
12.4.3.2 Historical Trend (2018-2022)
12.4.3.3 Forecast Trend (2023-2028)
12.4.4 Others
13 Middle East and Africa Chocolate Market Analysis
13.1 Market by Product
13.2 Market by Category
13.3 Market by Distribution Channel
13.4 Market by Country
13.4.1 Saudi Arabia
13.4.1.1 Market Share
13.4.1.2 Historical Trend (2018-2022)
13.4.1.3 Forecast Trend (2023-2028)
13.4.2 United Arab Emirates
13.4.2.1 Market Share
13.4.2.2 Historical Trend (2018-2022)
13.4.2.3 Forecast Trend (2023-2028)
13.4.3 Nigeria
13.4.3.1 Market Share
13.4.3.2 Historical Trend (2018-2022)
13.4.3.3 Forecast Trend (2023-2028)
13.4.4 South Africa
13.4.4.1 Market Share
13.4.4.2 Historical Trend (2018-2022)
13.4.4.3 Forecast Trend (2023-2028)
13.4.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Trade Data Analysis (HS Code - 1806)
16.1 Major Importing Countries
16.1.1 By Volume
16.1.2 By Value
16.2 Major Exporting Countries
16.2.1 By Volume
16.2.2 By Value
17 Price Analysis
18 Competitive Landscape
18.1 Market Structure
18.2 Company Profiles
18.2.1 Mars, Incorporated
18.2.1.1 Company Overview
18.2.1.2 Product Portfolio
18.2.1.3 Demographic Reach and Achievements
18.2.1.4 Certifications
18.2.2 Mondelēz International, Inc.
18.2.2.1 Company Overview
18.2.2.2 Product Portfolio
18.2.2.3 Demographic Reach and Achievements
18.2.2.4 Certifications
18.2.3 Ferrero International
18.2.3.1 Company Overview
18.2.3.2 Product Portfolio
18.2.3.3 Demographic Reach and Achievements
18.2.3.4 Certifications
18.2.4 Nestlé S.A.
18.2.4.1 Company Overview
18.2.4.2 Product Portfolio
18.2.4.3 Demographic Reach and Achievements
18.2.4.4 Certifications
18.2.5 The Hershey Company
18.2.5.1 Company Overview
18.2.5.2 Product Portfolio
18.2.5.3 Demographic Reach and Achievements
18.2.5.4 Certifications
18.2.6 Chocoladefabriken Lindt & Sprüngli AG
18.2.6.1 Company Overview
18.2.6.2 Product Portfolio
18.2.6.3 Demographic Reach and Achievements
18.2.6.4 Certifications
18.2.7 August Storck KG
18.2.7.1 Company Overview
18.2.7.2 Product Portfolio
18.2.7.3 Demographic Reach and Achievements
18.2.7.4 Certifications
18.2.8 LOTTE Corp.
18.2.8.1 Company Overview
18.2.8.2 Product Portfolio
18.2.8.3 Demographic Reach and Achievements
18.2.8.4 Certifications
18.2.9 United Confectionary, SLU
18.2.9.1 Company Overview
18.2.9.2 Product Portfolio
18.2.9.3 Demographic Reach and Achievements
18.2.9.4 Certifications
18.2.10 Godiva Chocolatier, Inc.
18.2.10.1 Company Overview
18.2.10.2 Product Portfolio
18.2.10.3 Demographic Reach and Achievements
18.2.10.4 Certifications
18.2.11 Ghirardelli Chocolate Company
18.2.11.1 Company Overview
18.2.11.2 Product Portfolio
18.2.11.3 Demographic Reach and Achievements
18.2.11.4 Certifications
18.2.12 Meiji Holdings Co., Ltd.
18.2.12.1 Company Overview
18.2.12.2 Product Portfolio
18.2.12.3 Demographic Reach and Achievements
18.2.12.4 Certifications
18.2.13 Arcor Group
18.2.13.1 Company Overview
18.2.13.2 Product Portfolio
18.2.13.3 Demographic Reach and Achievements
18.2.13.4 Certifications
18.2.14 Barry Callebaut AG
18.2.14.1 Company Overview
18.2.14.2 Product Portfolio
18.2.14.3 Demographic Reach and Achievements
18.2.14.4 Certifications
18.2.15 Others
19 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Chocolate Market: Key Industry Highlights, 2018 and 2028
2. Global Chocolate Historical Market: Breakup by Category (USD Million), 2018-2022
3. Global Chocolate Market Forecast: Breakup by Category (USD Million), 2023-2028
4. Global Chocolate Historical Market: Breakup by Product (USD Million), 2018-2022
5. Global Chocolate Market Forecast: Breakup by Product (USD Million), 2023-2028
6. Global Chocolate Historical Market: Breakup by Distribution Channel (USD Million), 2018-2022
7. Global Chocolate Market Forecast: Breakup by Distribution Channel (USD Million), 2023-2028
8. Global Chocolate Historical Market: Breakup by Region (USD Million), 2018-2022
9. Global Chocolate Market Forecast: Breakup by Region (USD Million), 2023-2028
10. North America Chocolate Historical Market: Breakup by Country (USD Million), 2018-2022
11. North America Chocolate Market Forecast: Breakup by Country (USD Million), 2023-2028
12. Europe Chocolate Historical Market: Breakup by Country (USD Million), 2018-2022
13. Europe Chocolate Market Forecast: Breakup by Country (USD Million), 2023-2028
14. Asia Pacific Chocolate Historical Market: Breakup by Country (USD Million), 2018-2022
15. Asia Pacific Chocolate Market Forecast: Breakup by Country (USD Million), 2023-2028
16. Latin America Chocolate Historical Market: Breakup by Country (USD Million), 2018-2022
17. Latin America Chocolate Market Forecast: Breakup by Country (USD Million), 2023-2028
18. Middle East and Africa Chocolate Historical Market: Breakup by Country (USD Million), 2018-2022
19. Middle East and Africa Chocolate Market Forecast: Breakup by Country (USD Million), 2023-2028
20. Major Importing Countries by Volume
21. Major Exporting Countries by Volume
22. Major Importing Countries by Value
23. Major Exporting Countries by Value
24. Global Chocolate Market Structure

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