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Chocolate Market to Rear Excessive Growth by 2024

Chocolate is one of the most profitable components of the confectionary industry globally

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While developed countries represent established and thriving markets for chocolate, a shift in consumer taste preferences and rising spending on chocolate and other confectionary products are identified to be the major drivers to market growth, prominently in developing countries. Increasing urbanization and widespread availability of chocolate and derived products will remain another key factor fueling the market for chocolate globally.

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Antioxidants-enrichment, blood pressure-suppressing character, and supposedly anti-aging properties of chocolate will remain the key factors propelling adoption of chocolate and chocolate products. Dark chocolate that contains a larger proportion of cocoa is especially recommended to prevent or slow down aging and certain diseases, such as CVDs. These and more similar perceived benefits of chocolate will continue to drive demand for chocolate in the global market.

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A few recent research findings indicate that chocolate consumption aids in looking younger as well as relieving stress, which are expected to further push the demand for chocolate. A sweeping range of new applications of chocolate in food and confectionary products are anticipated to escalate the demand, whereas wide acceptance of chocolate-flavored milk, drinks, bakery products, ice creams, functional foods, and liquor chocolates will sustain the demand throughout the next four years.

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Chocolates are still largely considered as an affordable luxury in some regions of the globe. Price-sensitivity may detain the penetration of chocolate market in some of the underdeveloped parts of the world. Moreover, the uncertain economy of the cocoa supply is likely to raise chocolate prices, which is foreseen to be a major challenge to market growth.

Some of the key players participating in the global chocolate market, include Nestle SA, Fererro Group, Hershey Foods Corporation, Mondelez International (Cadbury), Mars Inc, Meiji Co Ltd, August Storck KG, Ezaki Glico Co. Ltd. and Arcor. A few other notable companies are Kraft Foods, Moonstruck Chocolatier Co., and Ghirardelli Chocolate Co.

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The publisher indicated in each case (see company info by clicking on image/title or company info in the right-hand column) is solely responsible for the stories above, the event or job offer shown and for the image and audio material displayed. As a rule, the publisher is also the author of the texts and the attached image, audio and information material. The use of information published here is generally free of charge for personal information and editorial processing. Please clarify any copyright issues with the stated publisher before further use. In case of publication, please send a specimen copy to service@pressebox.de.