Global Chocolate Market Size Analysis, 2018-2028

REPORT ID: BKR782 Domain: Food & Beverages Published Date: August 2018

 

 

Global Chocolate Market is estimated to be valued over US$ 105 Billion in 2018 and is set to register a CAGR of 2.5% to create higher revenue opportunity for industry players.

Over the years, the chocolate industry has grown manifold and is witnessing rapid transition with changing consumer taste preferences. Most consumers have their own local preferences. As such, there has been a wide range of diversity in product offerings – resulting in market capitalization by numerous small scale players.

Heightened competition from regional players and product personalization has led leading companies to focus on product innovation. Leading c ompanies outsources their production to contract manufacturers while, actively spending on R&D and marketing purpose. Higher R&D spending is likely to play a major role in chocolate ecosystem. Personalization is another major factor that will play a key role in overall sales. Few companies are already offering personalized chocolates to consumers in Western Europe. The trend is likely to hit the developing economies with changing spending behavior.

Merger and acquisition is another prominent chocolate market trend. There has been a series of mergers and acquisitions in order to capture a major chunk of global share. Nestle, Ferrero, Kraft Jacobs, Masterfoods and Mondelez holds significant global share. These companies accounted for over 67% of Western Europe share in 2017. The success behind dominating the global share is the amount of time spent on building global brand recognition. Emergence of social media platform has further helped these companies to effectively strengthen their business presence especially in South East Asia and Africa. These platforms also helps companies to focus on product innovation than on marketing. This can be gauged from the fact that cumulative R&D spending has increased by 7.3% in last ten years as compared to that on marketing (3.9%).

On demand level, rapid urbanization and changing lifestyle has created favorable ecosystem for sales of chocolates worldwide. While the demand is set to increase at a substantial rate, fluctuating raw material prices has been at core concern for many industry players. Low profit margins has even further limited any external impact. Few companies are therefore focusing on adopting vertical supply chain model (from raw material supplier to manufacturing and distribution end).

Global Chocolate Value Chain Analysis

The industry is significantly concentrated at each value chain. While most of the cocoa is procured from Africa, standardization in export has led to elimination of small scale players. As such, the supplier ratio has declined considerably in last decade.

At manufacturer’s level, mergers and acquisition has concentrated the brand presence. Inorganic growth strategy has certainly helped these players to ensure long term sustainability and higher profit margins.

Global Chocolate Market Analysis, By Distribution Channel

Chocolates manufactured are distributed through various retail channel. While most brand operates through their own outlets, companies also leverages other modes for effective presence. Globally, supermarkets accounted for 69% of global share in 2017. The share is above 75% in Western Europe and North America.

Global Chocolate Market Analysis, By Product

By product type, milk chocolates accounted for 37% of global share, followed by filled chocolates and dark chocolates. Milk chocolates has nearly 10-12% cocoa with abundant milk presence.

Dark chocolates will register fastest growth owing to its taste and health benefits. Dark chocolates has more than 70% cocoa in it. Sugar free is the recent trend among consumers. As such, dark chocolates has increasingly become the preferred choice of consumers. Growing premium chocolates will further strengthen the dark chocolates demand worldwide.

Global Chocolate Market Size and Forecast: Regional Analysis

Globally, Western Europe dominated the market followed by North America (US$ 33 Billion, 2017).  Despite the increase in chocolate prices, volume has increased considerably in last two years. Germany followed by UK and France accounted for majority of the regional share in 2017.

Asia Pacific will register fastest growth during the forecast period. The growth will not only be driven by emerging countries (China and India), but also developed economies such as Japan and South Korea. As a matter of fact, Japan registered 3.7% growth in 2016 and 2017 – higher than the global average. Glico and Meiji Holdings are two leading chocolate suppliers in Japan. In 2017, Meijo accounted for 23% of country share, followed by Glico with 15% market share. Chocolate industry in Japan is primarily driven by the increased health awareness benefits among consumers.

Another prominent region in Asia Pacific is India, which is expected to register 5.8% CAGR in another ten years. Chocolate market in India is dominated by Mondelez India and Nestle that accounts for over 87% of country share. Demand for premium chocolate is registering healthy growth in the country and is expected to increase its share from 11% in 2017 to 15% by 2028.

Global Chocolate Market Size and Forecast: Competition Landscape

Some of the key global Chocolate market companies are Mars Inc, Arcor, Meiji Co Ltd, Nestle SA, Fererro Group, Hershey Foods Corporation, August Storck KG, Mondelez International (Cadbury), Ezaki Glico Co. Ltd.

Research Scope:

By Product:

  • Milk
  • Dark
  • Filled

By Application Type:

  • Everyday
  • Gourmet
  • Premium
  • Seasonal

By Distribution Channel:

  • Hypermarkets
  • Supermarkets
  • Convenience Stores
  • Groceries
  • Others

Chocolates Market Size TOC

  1. Report Structure
  2. Research Methodology
    • Market Engineering Factors Weightage
    • Market Share Methodology
  3. Executive Summary
    • Key Findings
    • Market Engineering Factors
    • Industry Expert Perspectives
  4. Market Definitions
  5. The Global Chocolates Market Value
    • Overall Market Forecast
    • Chocolates Growth Outlook, By Segments
    • Chocolates Growth Scenario, by Region
  6. The Chocolates Industry Ecosystem
    • Parent Market Overview
    • Industry Value Chain and Distribution Analysis
    • Growth Factor Analysis
    • Key Industry Players By Region
  7. The Chocolates Industry Dynamics
    • Drivers
    • Challenges
    • Opportunities
    • Mega Trends
    • Geographical Trends
    • Industry Experts Views
    • Merger Acquisition
    • Regulatory Compliances, By Selected Countries
    • Key Industry Developments
  8. The Chocolates Market Pricing Analysis
    • Chocolates Product Pricing Forecast
    • Pricing Analysis By Region
    • Pricing Trends
  9. Global Chocolates Industry Value and Forecast
    • Introduction
    • Industry Initiatives
    • Industry Predictive Analysis
    • Chocolates Industry Segment Comparative Ranking Analysis
    • Key Companies Involved and Initiatives
    • Global Industry Opportunity Proposition Analysis
    • Market Share Analysis, (%)
    • Global Chocolates Market Size and Forecast, (2017-2027)
      • Market Value Forecast (US$ Million)
      • Growth Analysis (Y-o-Y) and Forecast
  1. Global Chocolates Industry Size and Forecast, By Segments

By Product:

  • Milk
  • Dark
  • Filled

By Application Type:

  • Everyday
  • Gourmet
  • Premium
  • Seasonal

By Distribution Channel:

  • Hypermarkets
  • Supermarkets
  • Convenience Stores
  • Groceries
  • Others
  1. North America Industry Value and Forecast
    • Introduction
    • Industry Initiatives
    • Bekryl Predictive Analysis
    • Comparative Ranking Analysis, By Segments (As mentioned in section 10)
    • Key Companies Involved and Initiatives, By Region
    • Industry Value Proposition Analysis
    • North America Chocolates Market Analysis
      • Industry Size and Forecast, (2017-2027)
      • Industry Share (%)
      • Industry Growth Forecast (%)
      • North America Chocolates Market, By Segments (As mentioned in section 10 of TOC)
    • S. Chocolates Market Size and Forecast, By Segments
    • Canada Chocolates Market Size and Forecast, By Segments
  2. Latin America Chocolates Industry Value and Forecast
    • Introduction
    • Industry Initiatives
    • Bekryl Predictive Analysis
    • Comparative Ranking Analysis, By Segments (As mentioned in section 10)
    • Key Companies Involved and Initiatives, By Region
    • Industry Value Proposition Analysis, By Regional Countries
    • Latin America (South America) Chocolates Market Analysis
      • Industry Size and Forecast, (2017-2027)
      • Industry Share (%)
      • Industry Growth Forecast (%)
      • Latin America Chocolates Market, By Segments (As mentioned in section 10 of TOC)
    • Brazil Chocolates Market Size and Forecast, By Segments
    • Argentina
    • Mexico
    • Rest of Latin America

(Chocolates industry analysis covered across Latin America countries by segments mentioned in section 10. Request Sample to access detailed TOC and Research Framework)

  1. Western Europe Chocolates Industry Value and Forecast
    • Introduction
    • Industry Initiatives
    • Bekryl Predictive Analysis
    • Comparative Ranking Analysis, By Segments (As mentioned in section 10)
    • Key Companies Involved and Initiatives, By Region
    • Industry Value Proposition Analysis, By Regional Countries
    • Western Europe Chocolates Market Analysis
      • Industry Size and Forecast, (2017-2027)
      • Industry Share (%)
      • Industry Growth Forecast (%)
    • Western Europe Chocolates Market, By Segments (As mentioned in section 10 of TOC)
    • Germany Chocolates Market Size and Forecast, By Segments
    • UK
    • France
    • Spain
    • Italy
    • NORDIC
    • Switzerland
    • Rest of Western Europe

(Chocolates industry analysis covered across Western Europe countries by segments mentioned in section 10. Request Sample to access detailed TOC and Research Framework)

  1. Central and Eastern Europe (CEE) Chocolates Industry Value and Forecast
    • Introduction
    • Industry Initiatives
    • Bekryl Predictive Analysis
    • Comparative Ranking Analysis, By Segments (As mentioned in section 10)
    • Key Companies Involved and Initiatives, By Region
    • Industry Value Proposition Analysis, By Regional Countries
    • Central and Eastern Europe Chocolates Market Analysis
      • Industry Size and Forecast, (2017-2027)
      • Industry Share (%)
      • Industry Growth Forecast (%)
    • Central and Eastern Europe Chocolates Market, By Segments (As mentioned in section 10 of Chocolates Market TOC)
    • Russia Chocolates Market Size and Forecast, By Segments
    • Poland
    • Ukraine
    • Rest of CEE

(Chocolates industry analysis is covered across Central and Eastern Europe countries by segments mentioned in section 10. Request Sample to access detailed TOC and Research Framework)

  1. Asia Pacific Chocolates Industry Value and Forecast
    • Introduction
    • Industry Initiatives
    • Bekryl Predictive Analysis
    • Comparative Ranking Analysis, By Segments (As mentioned in section 10)
    • Key Companies Involved and Initiatives, By Region
    • Industry Value Proposition Analysis, By Asia Pacific Countries
    • Asia Pacific Chocolates Market Analysis
      • Industry Size and Forecast, (2017-2027)
      • Industry Share (%)
      • Industry Growth Forecast (%)
    • Asia Pacific Chocolates Market, By Segments (As mentioned in section 10 of TOC)
    • Japan Chocolates Market Size and Forecast, By Segments
    • China
    • India
    • South Korea
    • Australia
    • ASEAN
    • Rest of Asia Pacific

(Chocolates industry analysis is covered across Asia Pacific countries by segments mentioned in section 10. Request Sample to access detailed TOC and Research Framework)

  1. Middle East Chocolates Market Value and Forecast
    • Introduction
    • Industry Initiatives
    • Bekryl Predictive Analysis
    • Comparative Ranking Analysis, By Segments (As mentioned in section 10)
    • Key Companies Involved and Initiatives, By Region
    • Industry Value Proposition Analysis, By Middle East Countries
    • Middle East Chocolates Market Analysis
      • Industry Size and Forecast, (2017-2027)
      • Industry Share (%)
      • Industry Growth Forecast (%)
    • Middle East Chocolates Market, By Segments (As mentioned in section 10 of TOC)
    • GCC Chocolates Market Size and Forecast, By Segments
    • Israel
    • Rest of Middle East

(Chocolates industry analysis is covered across Middle East countries by segments mentioned in section 10. Request Sample to access detailed TOC and Research Framework)

  1. Africa Chocolates Market Value and Forecast
    • Introduction
    • Industry Initiatives
    • Bekryl Predictive Analysis
    • Comparative Ranking Analysis, By Segments (As mentioned in section 10)
    • Key Companies Involved and Initiatives, By Region
    • Industry Value Proposition Analysis, By Africa Countries
    • Market Share Analysis, (%)
    • Africa Chocolates Industry Size and Forecast, (2017-2027)
    • Africa Chocolates Industry Share (%)
    • Africa Chocolates Industry Growth Forecast (%)
    • South Africa Chocolates Market Size and Forecast, By Segments
    • Algeria
    • Nigeria

(Chocolates industry analysis is covered across Africa countries by segments mentioned in section 10. Request Sample to access detailed TOC and Research Framework)

  1. Chocolates Market Competitive Landscape
    • Competition Dashboard
    • Funding and Investment
    • Company Market Positioning
    • Marketing Mix Strategies
    • Product Level Strategies
    • Go-to-Market Strategies
    • SWOT Analysis
    • Key Developments, By Companies
    • Company Profiles*

Mars Inc,

Arcor, Meiji Co Ltd,

Nestle SA,

Fererro Group,

Hershey Foods Corporation

August Storck KG

Mondelez International (Cadbury)

Ezaki Glico Co. Ltd.

  1. Analyst Opinion
  2. Summary and Conclusion
  3. For more Information, Bekryl can help

*(SWOT, Key Developments, and Strategies are based on individual companies)

To access the detailed Chocolates industry TOC and sample research pages, download sample.

 

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