Published Date : Jun 07, 2016
The global market for chocolate has been experiencing immense growth over the past few years. The rising awareness regarding the health benefits of chocolates has increased its consumption across the world, driving the market significantly. Cocoa-rich chocolates contain a massive amount of anti-oxidants that help in preventing cardiac diseases and various other disorders.
Asia Pacific leads Global Market for Chocolates
The global chocolate market is spread across Europe, Asia Pacific, North America, and the Rest of the World. Asia Pacific, among all the regional market, has emerged as the leader with a share of approximately 20%. In Asia Pacific, Japan has surfaced as the leading domestic market with a share of more than 40%.
The increasing impact of western culture together with the rise in disposable income of people in emerging economies such as India, Korea, China, and Japan has fueled the market for chocolates in Asia Pacific. Nestlé and Cadbury are the leading producers of chocolates in Asia Pacific while Hershey, Ferrero, Mars, and Ghirardelli are also trying to get a foothold in the regional market.
U.S. Dominates Chocolate Market in North America
North America has captured the second position and Europe has emerged third in the global market for chocolates. The North America market for chocolates is led by the U.S., which holds a share of approximately 80% of the overall production of chocolate in North America. In the Europe market for chocolate, the U.K. has surfaced as the market leader with a share of more than 16% and is closely followed by Germany.
Hershey Co., Ferrero, Lotte, Nestlé, Chocolates Garoto, Belcolade, Scharffen Berger, Moonstruck Chocolatier Co., Divine Chocolate Ltd., Barry Callebaut, Kraft Foods, Lindt & Sprüngli, Lotus Chocolate Ltd., Michel Cluizel, Cemoi, Ghirardelli Chocolate Co., and Cadbury are some of the leading chocolate producers in the global market.