Published Date : Nov 14, 2016
ALBANY, NY, Nov 14, 2016: The report provides a holistic overview of the global chocolate market and the various factors influencing its trajectory. It is titled “Global Chocolate Market 2016-2020” and is available for sale on the company website. The market as per the report is poised to expand at a CAGR 5.32% between 2016 and 2020. The modest expansion witnessed in the cocoa market is expected to be a key driver of the global chocolate market.
The leading manufacturers of chocolate are engaged in the innovation of flavors and launching diverse products within the segment to continue gaining traction and cater to the dynamic consumer demand. Nowadays, the trend is shifting towards low-calorie and reduced sugar chocolates. A considerably high preference towards chocolate brands using organic ingredients is observed as well. Besides these, packaging has emerged as a crucial factor that the vendors are focusing on to enhance the shelf-life of chocolates and trigger consumer interest.
To ensure price-efficiency, many of these producers are making available the most popular flavors in smaller packages. One of the recent developments witnessed in the global chocolate market is the advent of Fairtrade certified chocolates. These are the varieties made using cocoa produced from farms that observe fair-trade practices. Some of the most popular brands having acquired Fairtrade certifications include Alter Eco, Green and Black’s, San Churro, and Cadbury.
Regionally, EMEA held dominance in the global chocolate market in 2015. Europe over the years has emerged as a major revenue generator in this region. A considerably large number of manufacturers domiciled in Europe have been investing in product innovation due to the criticism of the high sugar content in their products. The market according to the report is expected to gain significant impetus in EMEA with the rising consumption of premium brand chocolates such as Ferrero and Lindt across countries located in the Middle East.
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By distribution channel, the global chocolate market can be segmented into independent retailers, supermarkets and hypermarkets, convenience stores, and specialist stores. Of these, supermarkets and hypermarkets have made position as the most popular distribution channel in the market. Due to the rapid growth of the organized retail sector in developed and developing economies, the penetration of chocolate market worldwide has been impressive. Based on product, white, dark, and milk chocolates are the key segments. Of these, milk chocolates is the most commonly sold variant in the market.
Due to the presence of a large number of manufacturers, the global chocolate market represents a highly competitive vendor landscape. In order to gain competitive advantage, players mostly offer differentiated products at competitive price. Ferrero, Mondel?z, Hershey's, Nestlé, and Mars are identified in the report as the leading market players. Other companies profiled in the report include Barry Callebaut, Amul, Empresas Carozzi, August Storck, Cemoi Chocolatier, Blommer Chocolate Company, and Chocolate Frey.
To study the competitive landscape, the report has used various analytical tools, based on the results of which it has determined the strengths and weaknesses of the companies profiled. The threats and opportunities that these companies may face in the future are studied in detail as well.
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