To what extent does the chocolate market potentially boost the economy in the future 2027? – UNLV The Rebel Yell
The in-depth analysis of the historical data provides the Chocolate market report offering the chocolate information on the market status for the forecast period. Comprehensive research and analysis of chocolate market segments such as major market players in different geographies, their products, and end users can help to understand the product trend, challenges, revenue, and growth factors.
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Chocolate is a typically sweet, usually brown, comfort food made from cocoa trees in lump, liquid, or paste form. Chocolate is used as a flavoring ingredient in several food products, such as chocolate brownies, cakes, chocolate cookies, bars, and candies. The main ingredient in cocoa provides phytochemicals, which are an antioxidant. The content of phytochemicals is high in dark chocolates. Chocolate increases serotonin levels in the brain and gut and improves the immune system.
It has the highest consumption of chocolate and the presence of international players such as Mars, Mondelez, etc. Asia Pacific is the fastest growing chocolate market region, owing to the growth of multinational companies in the region such as Mars, Hershey’s, Ferrero and Ghirardelli. Further, the high consumption of chocolate by the growing population is propelling the growth demand of the chocolate market during the forecast period.
By price range, chocolate in the economy range has the highest demand. During festivals such as Christmas, Easter and Diwali, demand for budget and mid-range chocolate is high due to the large population in low-income countries. According to the World Bank’s PovcalNet database, about 56% of the world’s population is low-income and about 13% is a middle-income population. Among product types, molded bars have the highest shares and were valued at US $ 35.34 billion in 2016.
Among flavored chocolates, milk chocolates dominate the global chocolate market, which was valued at US $ 39.49 billion in 2016 and it grows at a CAGR of 6.0% during the forecast period from 2017 to 2025. Dark chocolates are the second growing market with a CAGR of 8.3% during the forecast period of 2017 to 2025. Due to various health benefits and increasing people’s awareness of chocolates at the dark cocoa, the demand for dark chocolates is expected to be propelled during the forecast period.
According to the International Cocoa Organization, Mars Inc.’s net sales peaked in 2016 with US $ 18,000 million, followed by Mondelez International with US $ 12,900 million.
Major players in the Chocolate market:
Some of the major players in the chocolate market include Mars, Hershey, Nestlé, Barry Callebaut, Kraft Foods, Ferrero, Moonstruck Chocolatier Co., Ghirardelli Chocolate Co. and Mondelez International (Cadbury).
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[Note: *The PDF Brochure Includes
1) Table of Content (ToC),
2) Research Framework of the actual report, and
3) Research Methodology adopted for it.]
Important information that can be taken from the report:
♦ Assessment of the impact of COVID-19 on the growth of the Chocolate market
♦ Successful market entry strategies formulated by emerging market players
♦ Pricing and marketing strategies adopted by established market players
♦ Country assessment of the Chocolate market in key regions
♦ Year-over-year growth of each market segment over the forecast period 2027
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In addition, the years considered for the study are as follows:
Historical year – 2014 to 2018
Baseline year – 2019
Forecast period – 2020 to 2026
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