Chocolate Confectionery Market Insights, Competitive Landscape and Forecast Report to 2030

San Francisco, California , USA, Feb 03, 2023 — /EPR Network/ —

Chocolate Confectionery Industry Overview

The global chocolate confectionery market size was valued at USD 178.8 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 6.4% from 2022 to 2030.

According to the National Confectioners Association (NCA), sales of chocolate confectionery products through supermarkets increased by 17.9% between March 2020 to August 2020 as compared to the same period last year. Furthermore, demand for high-quality products is getting stronger among the consumers, which is likely to propel market growth. According to the survey conducted by Cargill’s North America Cocoa & Chocolate team of 600 U.S. grocery shoppers in February 2021, approximately one-third of the Americans in the country increased chocolate consumption during the pandemic. Approximately 72% of surveyed consumers claimed that chocolate uplifted their moods, while 59% stated it supports their energy while working from home during the lockdown. Such facts are likely to bode well for future market growth.

Gather more insights about the market drivers, restrains and growth of the Global Chocolate Confectionery Market

Consumers in the market are looking out for premium confectionery products, which include a wide range of textures and premium quality. According to a report by Barry Callebaut proprietary study 2019, approximately 55% of consumers globally are willing to pay for products with multiple flavors, textures, and premium quality. The key brands in the market are capitalizing on such demands. For instance, in September 2021, premium brand Baron Chocolatier launched a product line of bars exclusively at Dollar Stores in the U.S. The product range consists of five bars in three flavors such as peanut butter, milk mousse, and creamy caramel. These bars are certified Kosher, trans-fat-free, and non-GMO.

Furthermore, an increasing number of consumers globally are following healthy eating lifestyles that have specialized needs and demand “better-for-me” alternatives, as health & wellbeing have become a top priority. According to Cargill’s ChocoLogic research in February 2021, 52% of consumers in the U.S. purchase dark chocolate confectionery products due to the perception of health benefits associated with it. Such factors are likely to complement the overall market growth for healthier products.

Consumers consider a variety of factors when shopping for confectionery products, with many purchasing premium items. The premium confectionery products in the chocolate segment have been growing in recent years as brands launch products with label claims such as vegan, cruelty-free, organic, and paleo, aimed at differentiating their offerings with healthier titles. For instance, in October 2021, Cadbury announced the launch of a vegan milk bar in Britain in two flavors such as Cadbury Plant Bar Smooth Chocolate and Cadbury Plant Bar Smooth Chocolate with Salted Caramel pieces.

Many key companies have been acquiring premium chocolate brands to expand their brand portfolio. For instance, in January 2021, MondelÄ“z International acquired Hu Master Holdings, a manufacturer of premium snacks made from simple ingredients, at USD 340 million. The brand is paleo-friendly and clean-label, which would further expand the company’s product offerings in the U.S.

Browse through Grand View Research’s Consumer F&B Industry Research Reports.

  • Chocolate Syrup MarketThe global chocolate syrup market was valued at USD 8.7 billion in 2021 and is expected to witness a compound annual growth rate (CAGR) of 3.8% from 2022 to 2030.
  • Chocolate MarketThe global chocolate market size was estimated at USD 113.16 billion in 2021 and is anticipated to grow at a compound annual growth rate (CAGR) of 3.7% from 2022 to 2030.

Chocolate Confectionery Market Segmentation

Grand View Research has segmented the chocolate confectionery market based on product, type, distribution channel, and region.

  • Chocolate Confectionery Market Product Outlook (Revenue, USD Billion, 2017 – 2030)
    • Boxed
    • Molded Bars
    • Chips & Bites
    • Truffles & Cups
    • Others
  • Chocolate Confectionery Market Type Outlook (Revenue, USD Billion 2017 – 2030)
    • Milk
    • Dark
    • White
  • Chocolate Confectionery Market Distribution Channel Outlook (Revenue, USD Billion, 2017 – 2030)
    • Supermarkets & Hypermarkets
    • Convenience Stores
    • Online
    • Others
  • Chocolate confectionery Regional Outlook (Revenue, USD Billion, 2017 – 2030)
    • North America
    • Europe
    • Asia Pacific
    • Central & South America
    • Middle East & Africa (MEA)

Key Companies profiled:

Some prominent players in the global Chocolate Confectionery market include

  • The Hershey Company
  • Ferrero
  • Chocoladefabriken Lindt & Sprüngli AG
  • Mars, Incorporated
  • MondelÄ“z International
  • Nestlé
  • CEMOI Group
  • Barry Callebaut
  • Lake Champlain Chocolates
  • LOTTE

Order a free sample PDF of the Chocolate Confectionery Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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