Global Chocolate Market Analysis, Size, Share, Growth ⅼ Forecast (2024 – 2032) ⅼ Renub Research

Global Chocolate Market Size was US$132.65 billion in 2023 and is expected to reach to US$196.79 billion by 2032. It is predicted to expend at a CAGR of 4.48% from 2024 to 2032.

Chocolate is a beloved treat worldwide and has been for hundreds of years. The worldwide chocolate industry is worth billions of dollars, and new trends are continuously emerging. Chocolate liquor and cocoa cream are used to make exclusive sorts of chocolate insurance. Chocolate and notable chocolate products are some of the most popular foods on earth. Moderate consumption of chocolate has been shown to increase serotonin, which relaxes the brain and acts as an antidepressant. The chocolate industry is progressively developing as new products are developed and marketed.

Chocolate is believed to have various health benefits because of its antioxidant content, blood pressure-lowering traits, and alleged anti-ageing skills. Dark chocolate with a better cocoa content globally is recommended for preventing or slowing some problems, such as cardiovascular disease. Chocolate consumption is predicted to be driven by these and other similar abilities.

Global Chocolate Market Survey

• The worldwide chocolate market is thriving, with annual consumption in 2022 achieving an impressive 7.5 million tons, a substantial growth from previous years.
• Chocolate, candy, gum, and mints will stay staples within the American customer’s weight-reduction plan, with over 98% of them buying these products in 2023.
• Switzerland, Germany, Ireland, and the United Kingdom stand sturdy as the leaders in annual chocolate consumption per people. Switzerland tops the list with a remarkable 8.8 kg per person, observed carefully by Germany with 8.4 kg, and Ireland and the United Kingdom with round 8.3 kg and 8.2 kg, respectively.
• EU country exported 867,000 tons of chocolate and chocolate bars to countries the EU in 2023, a 2% increase from the previous year and a huge 35% increase from 2013.
• Germany was leading country in exporting chocolate and chocolate bars to EU nations in 2023, with 220,000 tons exported. The Netherlands followed closely in the back of with 123,000 tons, whilst Poland came in third with 150,000 tons. Belgium exported 96,000 tons of chocolate and chocolate bars, while Italy exported 92,000 tons, completing the pinnacle 5 EU exporters of chocolate.
• China imported three times more Russian chocolate in 2023, accomplishing 33 thousand lots really worth US$ 55.4 Million.
• Chocolate consumption is high amongst younger, city higher-elegance, and affluent cohorts in India. It is well-known as a present for diverse celebratory activities.

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Europe Chocolate Market

Europe is the top region for consuming chocolate, followed by North America and Asia-Pacific. The demand for chocolate in Europe has extended because of the popularity of chocolate as a present and the growing trend of indulging in sweets. Factors like flavors, texture, and flavor impact consumer buying behavior inside the worldwide chocolate market. In European locations, chocolate products labeled natural, Fairtrade-certified, and Rainforest Alliance/UTZ-licensed have become increasingly popular. Switzerland is the world’s largest consumer of chocolate, with a mean annual consumption of 8.8 kilograms per individual. Germany, Ireland, the United Kingdom, Norway, Sweden, Denmark, Finland, the Netherlands, and Belgium also have excessive degrees of chocolate consumption, starting from 8.4 kg to 6.8 kg per capita. European nations show a high-quality choice for chocolate, with Switzerland and Germany leading the way.

• Mondelez International opened a new production line in Slovakia for Toblerone by the end of 2023.

Chocolate Market Company Analysis

The worldwide chocolate market has several key players, which include Nestlé S.A., Mondelez International, AMUL Industries Pvt Ltd., The Hershey Company, Meiji Holdings Co. Ltd., Saputo Inc., Chocoladefabriken Lindt and Sprungli AG, and Hotel Chocolat Group.

Chocolate Market Company News

• In January 2024, Mars has received Hotel Chocolat, a high-end chocolate emblem based in the United Kingdom, and has introduced it to its portfolio.
• In September 2023, Nestle purchased a majority stake in Grupo CRM, a top-class chocolate maker from Brazil, to expand into luxurious confectionery.
• In October 2023, Toblerone repositioned itself as a premium chocolate brand with its “Never Square” campaign. It has also introduced unique formats and gifting options like Toblerone Truffles and Tiny Toblerone packs.
• In July 2023, Ferrara Candy Co. acquired Dori Alimentos, a Brazilian snacks company that sells chocolate and sugar confectionery manufacturers such as Dori, Pettiz, and Jubes.
• In May 2023, Reliance Consumer Products acquired a controlling stake in Lotus Chocolate Company Ltd.
• In April 2023, MBK acquired premium Belgian chocolate logo Pierre Marcolini, referred to as the “Hermes of Chocolate.” MBK previously bought Godiva’s business rights in South Korea, Japan, and Australia, and the addition of Pierre Marcolini to its portfolio will strengthen their top-rated chocolate services.
• In February 2023, Mars Wrigley India launched GALAXY FUSIONS, a dark chocolate with 70% cocoa, marking its entry into the Indian darkish chocolate market.

Type – Global Chocolate Market breakup in 2 viewpoints:

1.    Dark Chocolate

2.    Milk/White Chocolate

Distribution Channel – Global Chocolate Market breakup in 4 viewpoints:

1.    Hypermarkets/Supermarkets

2.    Convenience Stores

3.    Online Retail Stores

4.    Other Distribution Channel

Country – Global Chocolate Market breakup of 25 Countries:

1.    North America

1.1    United States

1.2    Canada

2.    Europe

2.1    France

2.2    Germany

2.3    Italy

2.4    Spain

2.5    United Kingdom

2.6    Belgium

2.7    Netherland

2.8    Turkey

3.    Asia Pacific

3.1    China

3.2    Japan

3.3    India

3.4    South Korea

3.5    Thailand

3.6    Malaysia

3.7    Indonesia

3.8    Australia

3.9    New Zealand

4.    Latin America

4.1    Brazil

4.2    Mexico

4.3    Argentina

5.    Middle East & Africa

5.1    Saudi Arabia

5.2    UAE

5.3    South Africa

All the Key players have been covered from 3 Viewpoints:

•    Overview

•    Recent Development

•    Revenue Analysis

Company Analysis:

1.    Nestlé S.A.

2.    Mondelez International, Inc.

3.    AMUL Industries Pvt Ltd.

4.    The Hershey Company

5.    Meiji Holdings Co. Ltd.

6.    Saputo Inc.

7.    Chocoladefabriken Lindt, and Sprungli AG

8.    Hotel Chocolat Group plc

Browse Related Reports:

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Convenience Food Market: https://www.renub.com/convenience-food-market-p.php

United States Chocolate Market: https://www.renub.com/united-states-chocolate-market-p.php

Saudi Arabia Chocolate Market: https://www.renub.com/saudi-arabia-chocolate-market-p.php

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