Global Chocolate Market: Dark Chocolate Sales Rise Among Health Conscious Buyers, observes TMR

Transparency Market Research elaborates on the choices that manufacturers of chocolates can make over the coming years, in “Chocolate Market (Product Type - Dark Chocolate, Milk Chocolate, and White Chocolate) - Global Industry Analysis, Size, Share, Growth, Trends, And Forecast 2016 – 2024.” Chocolate is one of the most popular food products in the world and holds a high percentage of consumers from the younger demographics. Chocolates are largely differentiated based on the percentage of cocoa they contain, along with the addition of other ingredients such as nuts and candies. As a part of the food and beverages market that is intensely dependent on taste, texture, and appeal more than any other characteristics, manufacturers from the global chocolate market resort to high level marketing strategies.

One of the leading factors lending to the growth rate of the global chocolate market is the increasing consumption rates of chocolate among the health conscious demographic. A swiftly increasing number of people around the world are becoming more and more aware of the issues related to eating foods that are high in sugar and have begun to avoid sugary foods, while increasing their consumption dark chocolates. At the same time, more and more consumers are becoming aware of the health benefits they can gain from eating dark chocolates, thus improving the rate of growth of the global chocolate market.

The global chocolate market is additionally augmented by the increasing rate of consumption in emerging economies. Nations such as China and India are showing an increased rate of chocolate consumption, thanks to rising disposable incomes and a greater demand for globally prominent chocolate brands. A large number of multinational chocolates brands are setting up manufacturing facilities and distribution chains across emerging economies owing to similar reasons.

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Manufacturers are also aware of the seasonal nature of chocolate sales, as the demand for chocolates can be influenced by the change in seasons as well the proximity of specific holidays. They therefore change their marketing strategies as well as manufacturing rates accordingly, in order to maintain an efficient and high rate of sales and production.

Geographically speaking, the global chocolate market has been led by Asia Pacific and North America. Asia Pacific holds a very high density of population, which when coupled with rising disposable incomes and a high volume of regional players, allows it to achieve one of the top spots in the global chocolate market. North America is also high on the charts when it comes to chocolate consumption, especially the more recently increasing rates of dark chocolate consumption.

The leading players in the global chocolate market over recent times, have included Kraft Foods, Nestle SA, Moonstruck Chocolatier Co., Mars Inc., Ghirardelli Chocolate Co., Ferrero Group, and Hershey Foods Corp.

Chocolate Market: Rising Disposable Incomes to Encourage Consumption across Emerging Asia Pacific Economies

The global market for chocolates is examined in a recent market research report by Transparency Market Research. The report, titled “Chocolate Market (Product Type - Dark Chocolate, Milk Chocolate, and White Chocolate) - Global Industry Analysis, Size, Share, Growth, Trends, And Forecast 2016 – 2024,” forecasts the growth trajectory of the market and its key elements over the period between 2016 and 2024.

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The report states that the market is chiefly influenced and driven by the increasing level of consumer awareness regarding the vast health benefits of cocoa-rich dark chocolates (cocoa percentage of 70% or more). Studies have demonstrated that the regular, and limited, consumption of dark chocolates is good for blood circulation, heart, brain, and may also prove beneficial in effective management of health challenges such as obesity, autism, and diabetes.

The increased awareness regarding these factors has significantly helped in boosting the overall consumption of chocolates across the globe. The factor is also expected to play a crucial role in the future development of the market and is projected to be a key driver of the dark chocolates segment in the global market. Other product segments of the global chocolate market, including milk chocolate and white chocolate, are also expected to gain increased traction globally as the disposable incomes of consumers in several emerging economies are rising at an encouraging rate. In developing countries across Asia Pacific, the rising population of affluent consumers is one of the key factors boosting the overall consumption of chocolates.

From a geographic persepctive, the global chocolate market has been segmented into Asia Pacific, Europe, North America, and Rest of the World (RoW). Over the past few years, Asia Pacific has secured a strong position in the market as one of the dominant consumers of chocolates. The increasing influence of Western eating habits on the population of emerging economies in the region has intensified the demand for chocolates. Moreover, many international chocolate brands are increasingly foraying into this region, expected to further bolster the market for chocolates.

The report provides a thorough overview of the competitive and vendor landscape of the global chocolates market and includes details pertaining to the key business strategies adopted, finances, market share, product portfolios, and strengths and weaknesses of some of the key vendors operating in the market. Details regarding mergers, acquisitions, and other strategic collaborations observed in the market in the past few years are also analyzed. Some of the key vendors operating in the global chocolates market are Mars Inc., Kraft Foods, Moonstruck Chocolatier Co., Nestle SA, Ferrero Group, Hershey Foods Corp., and Ghirardelli Chocolate Co.

Chocolate Market (Product Type - Dark Chocolate, Milk Chocolate, and White Chocolate) - Global Industry Analysis, Size, Share, Growth, Trends, And Forecast, 2016–2024

Global Chocolate Market: Overview

One of the most consumed and popular food product among consumers across the globe is chocolate. Based on the amount of cocoa employed during preparation, different varieties of chocolates are produced globally. As the global chocolate market is highly driven by the taste preferences of consumers, it is imperative that companies focus on product development and marketing strategies to gain a wider consumer base and capture new markets.

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The report presents an in-depth analysis of the growth trajectory of the global chocolate market along with the principal trends. The study also highlights the factors that are likely to affect the global chocolate market in a positive or negative manner. It also evaluates the prime elements at play in the market. To offer a clear outline of the market, the report utilizes Porter’s five forces analysis and examines the competitive landscape. It also presents an assessment of the products, key strategies, and shares of the companies operating in the global chocolate market. Information on the degree of entry and exit barriers present in the market has also been provided in the intelligence report.

Global Chocolate Market: Trends and Opportunities

The growth of the global chocolate market is primarily driven by the rising awareness among consumers regarding the health benefits associated with cocoa-rich dark chocolates. This trend is anticipated to boost the popularity of chocolate across the globe. The popularity of dark chocolate is expected to rise over the forthcoming years owing to the fact that it helps in preventing cardiac diseases, in addition to other benefits.

The growing disposable income of consumers in developing countries of Asia Pacific is one of the primary reasons behind the mounting demand for chocolates. In countries such as South Korea, Japan, India, and China, the presence of regional brands has stirred the sales of chocolates over the last couple of years. Multinational brands such as Ghirardelli, Mars, Ferrero, and Hershey’s have also gained popularity in these countries owing to the changing taste preferences and increasing brand loyalty.

The demand for chocolate is at its peak during seasonal and festive occasions. The expanding applications of chocolate is another factor that is likely to positively impact the growth of the global chocolate market. However, fluctuating prices of raw materials, especially cocoa, the instability of its supply, and the political instability in cocoa producing countries are likely to restrain the growth of the market over the next couple of years.

Global Chocolate Market: Regional Outlook

Region-wise, the global chocolate market is categorized into Europe, North America, Asia Pacific, and the Rest of the World. Amidst these, Asia Pacific emerged as one of the leading consumers of chocolates due to the rising influence of Western culture and habits in countries in the region. The success of several international chocolate brands is expected to further intensify the demand for chocolate in the region.

Companies Mentioned in the Report

The leading companies operating in the global chocolate market are focusing on product differentiation in terms of taste, flavor, and price to gain a strong hold over the market. Some of the key players are Kraft Foods, Nestle SA, Moonstruck Chocolatier Co., Mars Inc., Ghirardelli Chocolate Co., Ferrero Group, and Hershey Foods Corp. 

Chocolate Sales Set for Steady Growth with the Entry of Inexpensive, Local Brands

A new market intelligence study by Transparency Market Research presents a detailed overview of the global chocolate market. The report is titled “Chocolate Market - Global Industry Analysis, Size, Share, Growth, Trends And Forecast, 2013 - 2019.” The report provides a comprehensive analysis of the growth drivers, factors challenging growth, trends, innovations, and projections of the market for the period from 2013 to 2019.

The global chocolate market is driven by the rising awareness among consumers regarding the health benefits of dark, cocoa-rich chocolate. Dark chocolate, rich in anti-oxidants, has the potential to prevent cardiac diseases and other diseases, which is expected to boost the consumption and drive the global chocolate market. The availability of a wide variety of dark chocolate is encouraging consumers to try out the variants, boosting the market. Improvement in the lifestyles of consumers and an increase in their disposable income are some of the other factors benefitting the global chocolate market. Chocolate is used in confectionary products and flavored food and beverages, thus driving the market.

Chocolate is typically a sweet preparation of Theobroma cacao seeds that is roasted and grounded, generally flavored with vanilla. Chocolate is extremely popular and widely consumed across the globe. Chocolate is classified on the basis of the amount of cocoa present in the chocolate.

The rising disposable income of Asia Pacific consumers, especially in countries such as Japan, China, India, and South Korea has brought down the social status of chocolate from a luxury food item to an everyday commodity. This has impacted the chocolate market positively. The inexpensive, local brands of chocolate as well as the premium, international brands of chocolate are popular among consumers, thus driving the market.

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Chocolate as functional foods, is a growing trend among people, since they are perceived as stress-relieving eatables, having high nutritional value. However, the fluctuating prices or instability of raw materials required in the manufacturing of chocolate, such as cocoa, act as a challenge for the manufacturers of chocolate. The unstable supply of cocoa is due to heavy reliance on West African countries and the political instability in the major cocoa producing regions.

The global chocolate market is segmented on the basis of type and region. On the basis of type, the global chocolate market is categorized into dark chocolate, milk chocolate, and white chocolate. The geographies studied in the report include Europe, North America, Asia Pacific, and the Rest of the World.

The report profiles some of the leading manufacturers of chocolate such as Nestle SA, Ferrero Group, Mars Inc., Hershey Foods Corp., Ghirardelli Chocolate Co., Moonstruck Chocolatier Co., and Kraft Foods.

Rising Disposable Incomes in Developing Countries Drive Global Chocolate Market

Transparency Market Research offers an in-depth research report about the global chocolate market. The holistic research report examines the trends and dynamics in the global chocolate market and highlights the key market drivers and restraints.

The research report, titled “Chocolate Market - Global Industry Analysis, Size, Share, Growth, Trends And Forecast, 2013 - 2019,” provides the readers with an assessment of the historical data and compares it with the current market scenario to map the trajectory of the market for the coming years. Additionally, the research report also uses SWOT analysis to point out the strengths, weaknesses, opportunities, and threats of the market. The industry experts have also used Porter’s five forces analysis to evaluate the threat of new entrants, the threat of substitute products or services, the bargaining power of customers, the bargaining power of suppliers, and the intensity of competitive rivalry.

In recent years, the global chocolate market has grown tremendously due to the increasing awareness about the health benefits of chocolate, which is rich in cocoa. Owing to these realizations, the global chocolate market is expected to grow at an accelerated pace in the near future. According to scientific studies, dark chocolate has the potential to avert cardiac diseases and other diseases, as this food product is rich in antioxidants.

 The global chocolate market is segmented on the basis of product and geography. The products available in this market are white chocolate, milk chocolate, and dark chocolate. Geographically, this market is segmented into Asia Pacific, North America, Europe, and Rest of the World.

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In terms of regions, the chocolate market in Asia Pacific is likely to have a tremendous growth potential due to the acceptance of Western habits in several Asian countries. Furthermore, the market in Asia Pacific will also be driven by the increasing penetration of international brands, along with the success of local brands. The growing share of Asia Pacific in the overall chocolate market will also be attributable to the rise in the disposable income of residents of the developing countries in Asia Pacific such as India, China, South Korea, and Japan.

Some of the important players profiled in the global chocolate market are Hershey Foods Corp., Ghirardelli Chocolate Co., Ferrero Group, Moonstruck Chocolatier Co., Mars Inc., Kraft Foods, and Nestle SA. The research report provides a detailed analysis of the competitive landscape of the global chocolate market, the impact of regulatory analysis, and governing import and export policies. Additionally, the research report also explains the financial overview, product portfolio, business and marketing strategies, research and development activities, and investment outlook of these top players in the global chocolate market.

How The Chocolate Market Is Poised For Growth?

A new market research report by Transparency Market Research presents an in-depth analysis of the global chocolate market. The report provides detailed insights into the market, including its drivers and restraints, challenges and opportunities, product segmentation, and the competitive landscape of the market. The research report is titled “Chocolate Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019”. A combination of primary as well as secondary research data has been used in the research report to determine the market share figures, market estimates, and trends. In addition, charts, tables, and other infographics are used to include the historical data and forecast figures.

By product type, the global market for chocolate has been segmented into white chocolate, dark chocolate, and milk chocolate. Among these types, the dark chocolate segment holds the largest market share owing to the increasing awareness regarding the health benefits associated with consuming cocoa-rich dark chocolates. This segment is expected to dominate the global chocolate market owing to the rising popularity of dark chocolate rich in antioxidants, which are helpful in preventing cardiac as well as other diseases. On the other hand, unpredictability in the supply of cocoa due to political instability in most key cocoa manufacturing countries is one of the major factors expected to hamper the growth of this market in the coming years.

The global chocolate market has been divided on the basis of geography into North America, Europe, Asia Pacific, and Rest of the World. Among these regions, Asia Pacific accounts for the largest share in the global market owing to the rising influence of Western culture and habits in most Asia Pacific countries.

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Currently, chocolate is very popular across Asia Pacific countries due to the success of international as well as local brands. As a result, the growing demand for chocolate from Asia Pacific is estimated to fuel the growth of the global market throughout the forecast period. In addition, the increasing disposable income of consumers in Asia Pacific, especially in economies such as India, China, South Korea, and Japan, has brought down the status of chocolate from luxury to a routine commodity. The local brands offer cheap products which has resulted in chocolate becoming very popular among the masses, whereas international brands of chocolate are expected to grow progressively in the Asia Pacific chocolate market in the next few years.

The research report further covers the competitive landscape of the global chocolate market, including the company profile, inception details, product portfolio, financial overview, business strategies, and recent developments. Some of the prominent players operating in the global chocolate market are Moonstruck Chocolate Co., Mars Inc., Ferrero Group, Hershey Foods Corp., Nestle SA, Kraft Foods, and Ghirardelli Chocolate Co.

Chocolate Market - Global Industry Analysis, Size, Share, Growth, Trends And Forecast, 2013 – 2019

Chocolate is among the most popular and widely consumed substances in the modern world. Various varieties of chocolate, classified on the basis of the amount of cocoa present in the chocolate, are produced and are equally popular all over the world.

The report on the global chocolate market uses trustworthy primary and secondary research to present a comprehensive database regarding the global chocolate market. Various reliable analytical tools are then employed to break down the statistics and present forecasts for the market’s potential growth in the forecast period. Industry figures such as production statistics, profit margins, and value chains are analyzed in the report to present detailed information regarding the global chocolate market. Growth drivers and restraining factors acting upon the global chocolate market are analyzed and their potential impact is detailed in the report.

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Major players in the chocolate market are profiled in the report, on the basis of their financial and business operation, their standing in the global chocolate market, and recent developments in the market. SWOT analysis is used to elaborate upon the particular factors working in the favor of or hampering each company.

Overview of the Global Chocolate Market

The primary growth driver of the global chocolate market is the growing awareness regarding the health benefits of dark, cocoa-rich chocolates. This trend is expected to dominate the market in the coming years, as dark chocolate rises in popularity. Dark varieties of chocolate, which are rich in antioxidants, have the potential to prevent cardiac diseases as well as several other diseases.

The main growth driver for the market in Asia Pacific is the growing influence of Western habits and culture in Asian countries. Chocolate is now popular across the board in several Asia Pacific nations owing to the success of local as well as international brands, and this is expected to propel the global chocolate market in the near future.

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Rising disposable income of Asia Pacific consumers, particularly in countries such as China, India, Japan, and South Korea, has also brought the social status of chocolate down from a luxury to an everyday commodity. The cheap products offered by local brands in these countries have made chocolate popular among the masses, and international premium chocolate brands such as Hershey, Ferrero, Mars, and Ghirardelli are slowly but surely gaining a sizeable foothold in Asia Pacific markets.

Instability in the supply of cocoa owing to political instability in many major cocoa-producing nations is the major restraint acting on the global chocolate market. However, rising diversification of cocoa production as well as stabilization of the political scenario in countries such as Ghana is expected to act as a countermeasure to this concern.

Companies Mentioned in the Research Report

The report describes and analyzes major companies in the global chocolate market such as Hershey Foods Corp., Ferrero Group, Ghirardelli Chocolate Co., Mars Inc., Moonstruck Chocolatier Co., Nestle SA, and Kraft Foods.

Segmentation of the Global Chocolate Market by Product Type:

• Dark Chocolate
• Milk Chocolate
• White Chocolate

Major geographies analyzed under this research report are:

• Europe
• North America
• Asia Pacific
• Rest of the World

This report gives you access to decisive data such as:

• Market growth drivers
• Factors limiting market growth
• Current market trends
• Market structure
• Market projections for the coming years

Key highlights of this report

• Overview of key market forces propelling and restraining market growth
• Up-to-date analyses of market trends and technological improvements
• Pin-point analyses of market competition dynamics to offer you a competitive edge
• An analysis of strategies of major competitors
• An array of graphics and SWOT analysis of major industry segments
• Detailed analyses of industry trends
• A well-defined technological growth map with an impact-analysis
• Offers a clear understanding of the competitive landscape and key product segments

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