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Chocolate Market Size, Industry Analysis Report By Distribution Channel (Supermarket and Hyper Market, Conventional Store, Online Channels), By Product Type (Traditional, Artificial), By End Use (Men, Women) & Region – Forecasts

  • PUBLISHED ON
  • 06/12/2022
  • NO OF PAGES
  • 256
  • CATEGORY
  • Food & Beverages
Global Chocolate Market- Overview
It is estimated for the global chocolate market to witness growth at a CAGR of 4.1% during the forecast period of 2022 to 2030. The market witnessed growth at a CAGR of 3.3% during the previous forecast period of 2018 to 2021. Chocolate was a trendy drink for rich Europeans throughout the 18th century. The Industrial Revolution allowed chocolate to be mass-produced and brought the treat to the masses. The popularity led to the development of cacao tree plantations. Enslaved people farmed most of the plantations.

Global Chocolate Market- Growth Factors
The increasing number of chocolate lovers around the globe coupled with the increasing use of chocolate in various arenas including that cold drinks, various food items, ice creams and so on are the factors that are estimated to boost the growth of the market during the forecast period. These factors played a major role in the growth of the market even during the previous forecast period of 2018 to 2021. The health benefits associated with eating chocolates are also a factor that is estimated to boost the growth of the market during the forecast period. The population is being aware of the hazards associated with eating the chocolates such as the increase in sugar levels. And the increasing diabetic population around the globe is estimated to hinder the growth of the market during the forecast period.

Global Chocolate Market – Market Trends
• The increasing number of chocolate lovers around the globe coupled with the increasing use of chocolate in various arenas including that cold drinks, various food items, ice creams and so on are the factors that are estimated to boost the growth of the market during the forecast period.
• The health benefits associated with eating chocolates are also a factor that is estimated to boost the growth of the market during the forecast period.
• The population is being aware of the hazards associated with eating the chocolates such as the increase in sugar levels. And the increasing diabetic population around the globe is estimated to hinder the growth of the market during the forecast period.

Global Chocolate Market – Segmentation
The global chocolate market has been segmented into product type and distribution channel.

Based on product type, the market is segmented into,
• Traditional
• Artificial

Based on distribution channel, the market is been segmented into,
• Supermarket and Hyper Market
• Conventional Store
• Online Channels

Based on end use, the market has been segmented into,
• Men
• Women

Global Chocolate Market – Regional Analysis
It is estimated for the region of Asia Pacific to drive the growth of the market during the forecast period. The growing in the technological advancements in the food sector in the region is estimated to foster the growth of the market during the forecast period. The region of Europe is estimated to witness growth at a healthy rate during the forecast period. The US region is also estimated to witness a notable growth rate in the market.

Global Chocolate Market – Key Market players
Barry Callebaut, Chocoladefabriken Lindt & Sprüngli AG, Mondelēz International, Inc., Nestlé, The Hershey Company, Ferrero Group, Mars, Incorporated, The Australian Carob Co., Meiji Holdings Co., Ltd., and Arcor are the major players that are driving the growth of the market during the forecast period.

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Market Research Process




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Case Study- Automotive Sector

One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).

Solution

The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research

The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.

Market Estimates and Forecast

In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.

Case Study- ICT Sector

Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.


Business Solution

An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.


Conclusion

The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.

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