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Chocolate Confectionery Market New Developments, Demand and Forecast by 2023-2027 The global chocolate confectionery market size is projected to reach USD 136.42 billion by 2027, exhibiting a CAGR of 2.3% during the forecast period. Widespread awareness regarding the potential health benefits of chocolate is expected to play a central role in driving the growth of this market, states Fortune Business Insights™ in its report, titled “Chocolate Confectionery Market Size, Share & COVID-19 Impact Analysis, By Type (Dark, Milk, and White), Category (Premium, Seasonal, and Everyday), and Regional Forecast, 2020-2027”. Chocolate products, especially dark chocolate, offer a plethora of health benefits. Dark chocolate and cocoa are known to have more flavanols, polyphenols, and antioxidants compared to acai berries, blueberries, and many other naturally occurring consumable foods. Further, a dark chocolate bar holds considerable amounts of iron, copper, and fiber, bolstered with an additional variety of other nutrients. A research study in the National Institutes of Health found that consuming dark chocolate helps regulate blood pressure more efficiently as the presence of flavanols can activate the lining within the arteries, reducing the impediments to blood flow and lowering the risk of heart disorders. These benefits of dark chocolate are surging their consumption, which is propelling the global market growth. List of Key Players Covered in the Chocolate Confectionery Market Report are: Mars Inc. (Virginia, U.S.) The Hershey Company (Pennsylvania, U.S.) Mondelez International (Illinois, U.S.) Ferrero SpA (Alba, Italy) Nestle S.A. (Vevey, Switzerland) Ezaki Glico Co., Ltd. (Osaka, Japan) Meiji Holdings Co., Ltd. (Tokyo, Japan) HARIBO GmbH & Co. KG (Bonn, Germany) Chocoladefabriken Lindt & Sprungli AG (Zürich, Switzerland) Barry Callebaut (Zürich, Switzerland) Market Restraints Shrinking Sales amid COVID-19 Pandemic to Stall Market Growth The chocolate confectionery market growth is expected to be hit by the coronavirus pandemic as lockdown and social distancing measures have forced consumers to stay at home and retail shops to close down, albeit temporarily. Moreover, severe global economic downturn has led to job losses and plummeting revenues for businesses, which has arrested spending on non-essential foods such as chocolate products. This, in turn, has contracted sales of some of the major players in the chocolate confectionery industry. The Hershey Company, for instance, reported in April that its international net sales dipped by 8.1% to USD 192.5 million. Similarly, in July 2020, Lindt & Spruengli, the Swiss chocolate maker, announced a fall in organic sales by 5-7% in the current year owing to store closures forced by COVID-19. Regional Insights North America to Have Dominating Lead in the Market Backed by High Demand for Premium Chocolates With a market size of USD 19.50 billion in 2019, North America is anticipated to lead the chocolate confectionery market share during the forecast, mainly owing to the high demand for premium chocolate snacks and products among the consumers in the region. However, in the US, whose market volume stood at 1,410.20 thousand tons in 2019, the market is expected to experience limited growth owing to increasing resistance to high-sugar chocolate confectioneries and rising preference for low-sugar confectionery items. In Europe, chocolate items are a central component in festivals in the region, which is the major factor augmenting the market growth. In Asia-Pacific, per capita consumption of chocolate products is increasing as a result of growing disposable income in the region. Large proportion of young population and evolving taste preferences are having a considerable influence on the growth trajectory of the market in the region. Competitive Landscape Heavy Investments in R&D by Key Players to Create Healthy Competitive Atmosphere The market for chocolate confectioneries is characterized by a healthy competitive climate as top companies are directing their energies towards elevating their R&D capabilities. Moreover, some players in this market are also engaging in efforts towards establishing sustainable agriculture practices in key cocoa producing regions. Browse In-depth Summary of This Research Insight: https://www.fortunebusinessinsights.com/industry-reports/chocolate-confectionery-market-100539

Vegan Chocolate Market Latest Trends, Segmentation, Revenue and Forecast by 2030 The global vegan chocolate market size was valued at USD 1,145.61 million in 2022. The market is projected to grow from USD 1,252.80 million in 2023 to USD 2,831.93 million by 2030, exhibiting a CAGR of 12.36% during the forecast period. Increased attentiveness toward environmental impact of the rising influence of consumers and animal agriculture has gained immense demand and popularity in recent years. The increase in the number of people with dietary restrictions such as dairy allergies or lactose intolerance has resulted in the vegan chocolate market growth globally. Fortune Business Insights™ mentioned this in a report titled “Vegan Chocolate Market, 2023-2030.” List of Key Market Players Profiled in the Report: Plamil Foods Ltd (U.K.) Schmilk Chocolate (U.S.) Chocoladefabriken Lindt & Sprüngli AG (Switzerland) Mondelēz International, Inc. (U.S.) Ludwig Weinrich GmbH & Co. KG (Germany) The Hershey Company (U.S.) Nestle S.A. (Switzerland) Mars, Incorporated (U.S.) Barry Callebaut (Switzerland) Purdys Chocolatier (Canada) Segments: Dark Segment Dominated the Market Due to Higher Cocoa Content and Health Benefits On the basis of type, the market is segmented into dark, milk, and others. The dark segment is estimated to hold a considerable share of the global market due to presence of rich antioxidants and various other health benefits. Supermarkets/Hypermarkets Segment to Propel Market Owing to Convenience and Huge Amount of Availability of Product Based on distribution channel, the market is segmented into convenience stores, supermarkets/hypermarkets, online stores, specialty stores, and others. The supermarkets/hypermarkets segment is anticipated to hold the largest market share. The segment's dominance is due to the consumers’ strong preference to buy products from such supermarkets due to a wide variety of brands and pricing options. Geographically, the market is divided across regions such as North America, Europe, Asia Pacific, South America, and the Middle East & Africa. Report Coverage: The report offers a detailed study of the market and a keen examination of the significant segments of the market. It provides an in-depth analysis of key players and their insightful strategies to spur market growth for monetary gains. It also shares tangible insights which guide business owners with their investment perspective. Drivers & Restraints: Increased Popularity of Vegan Chocolates at Various Stores to Boost Market Growth In recent years, the demand and availability of vegan chocolates have increased significantly. The growing accessibility of vegan chocolates has made it their way to specialty shops, online stores, and grocery stores, attracting a larger population. The new vegan dark chocolate contains nutrients such as amino acids, vitamins, minerals, and botanicals that help reduce stress, insomnia, and other activities. Vegan chocolates have superior quality ingredients such as coconut milk, or so milk, and plant-based almond milk. The ingredients used are more expensive, contributing to a higher cost of production. This leads to the hindrance of the market growth. Regional Insights: Europe Led the Market Growth Owing to the Growing Demand for Dairy-Free Products Europe dominated the global vegan chocolate market share in 2022. As consumers nowadays are more inclined toward traditional dairy-based chocolate, the increase in demand has been witnessed owing to the growing demand for dairy-free products. North America is anticipated to record significant growth during the forecast period. Increasing health awareness among consumers has increased the demand for plant-based chocolate. Competitive Landscape: Growth Strategies by Prominent Companies to Gain Market Position Vegan chocolate manufacturers are adopting strategies such as partnerships, investment, joint ventures, base expansion, collaborations, and acquisitions to strengthen their market growth. The plant-based confectionery market comprises various small & medium-scale and well-established players. Browse In-depth Summary of This Research Insight: https://www.fortunebusinessinsights.com/vegan-chocolate-market-106130

Chocolate Confectionery Market Development Status, Top Leaders and Global Forecast by 2027 The global chocolate confectionery market size is projected to reach USD 136.42 billion by 2027, exhibiting a CAGR of 2.3% during the forecast period. Widespread awareness regarding the potential health benefits of chocolate is expected to play a central role in driving the growth of this market. Chocolate products, especially dark chocolate, offer a plethora of health benefits. Dark chocolate and cocoa are known to have more flavanols, polyphenols, and antioxidants compared to acai berries, blueberries, and many other naturally occurring consumable foods. Further, a dark chocolate bar holds considerable amounts of iron, copper, and fiber, bolstered with an additional variety of other nutrients. A research study in the National Institutes of Health found that consuming dark chocolate helps regulate blood pressure more efficiently as the presence of flavanols can activate the lining within the arteries, reducing the impediments to blood flow and lowering the risk of heart disorders. These benefits of dark chocolate are surging their consumption, which is propelling the global market growth. List of Key Players Covered in the Chocolate Confectionery Market Report are: Mars Inc. (Virginia, U.S.) The Hershey Company (Pennsylvania, U.S.) Mondelez International (Illinois, U.S.) Ferrero SpA (Alba, Italy) Nestle S.A. (Vevey, Switzerland) Ezaki Glico Co., Ltd. (Osaka, Japan) Meiji Holdings Co., Ltd. (Tokyo, Japan) HARIBO GmbH & Co. KG (Bonn, Germany) Chocoladefabriken Lindt & Sprungli AG (Zürich, Switzerland) Barry Callebaut (Zürich, Switzerland) Market Restraints Shrinking Sales amid COVID-19 Pandemic to Stall Market Growth The chocolate confectionery market growth is expected to be hit by the coronavirus pandemic as lockdown and social distancing measures have forced consumers to stay at home and retail shops to close down, albeit temporarily. Moreover, severe global economic downturn has led to job losses and plummeting revenues for businesses, which has arrested spending on non-essential foods such as chocolate products. This, in turn, has contracted sales of some of the major players in the chocolate confectionery industry. The Hershey Company, for instance, reported in April that its international net sales dipped by 8.1% to USD 192.5 million. Similarly, in July 2020, Lindt & Spruengli, the Swiss chocolate maker, announced a fall in organic sales by 5-7% in the current year owing to store closures forced by COVID-19. Regional Insights North America to Have Dominating Lead in the Market Backed by High Demand for Premium Chocolates With a market size of USD 19.50 billion in 2019, North America is anticipated to lead the chocolate confectionery market share during the forecast, mainly owing to the high demand for premium chocolate snacks and products among the consumers in the region. However, in the US, whose market volume stood at 1,410.20 thousand tons in 2019, the market is expected to experience limited growth owing to increasing resistance to high-sugar chocolate confectioneries and rising preference for low-sugar confectionery items. In Europe, chocolate items are a central component in festivals in the region, which is the major factor augmenting the market growth. In Asia-Pacific, per capita consumption of chocolate products is increasing as a result of growing disposable income in the region. Large proportion of young population and evolving taste preferences are having a considerable influence on the growth trajectory of the market in the region. Competitive Landscape Heavy Investments in R&D by Key Players to Create Healthy Competitive Atmosphere The market for chocolate confectioneries is characterized by a healthy competitive climate as top companies are directing their energies towards elevating their R&D capabilities. Moreover, some players in this market are also engaging in efforts towards establishing sustainable agriculture practices in key cocoa producing regions. Browse In-depth Summary of This Research Insight: https://www.fortunebusinessinsights.com/industry-reports/chocolate-confectionery-market-100539

Chocolate Confectionery Market Development Plans and Future Growth Forecast by 2023-2027 The global chocolate confectionery market size is projected to reach USD 136.42 billion by 2027, exhibiting a CAGR of 2.3% during the forecast period. Widespread awareness regarding the potential health benefits of chocolate is expected to play a central role in driving the growth of this market. Chocolate products, especially dark chocolate, offer a plethora of health benefits. Dark chocolate and cocoa are known to have more flavanols, polyphenols, and antioxidants compared to acai berries, blueberries, and many other naturally occurring consumable foods. Further, a dark chocolate bar holds considerable amounts of iron, copper, and fiber, bolstered with an additional variety of other nutrients. A research study in the National Institutes of Health found that consuming dark chocolate helps regulate blood pressure more efficiently as the presence of flavanols can activate the lining within the arteries, reducing the impediments to blood flow and lowering the risk of heart disorders. These benefits of dark chocolate are surging their consumption, which is propelling the global market growth. List of Key Players Covered in the Chocolate Confectionery Market Report are: Mars Inc. (Virginia, U.S.) The Hershey Company (Pennsylvania, U.S.) Mondelez International (Illinois, U.S.) Ferrero SpA (Alba, Italy) Nestle S.A. (Vevey, Switzerland) Ezaki Glico Co., Ltd. (Osaka, Japan) Meiji Holdings Co., Ltd. (Tokyo, Japan) HARIBO GmbH & Co. KG (Bonn, Germany) Chocoladefabriken Lindt & Sprungli AG (Zürich, Switzerland) Barry Callebaut (Zürich, Switzerland) Market Restraints Shrinking Sales amid COVID-19 Pandemic to Stall Market Growth The chocolate confectionery market growth is expected to be hit by the coronavirus pandemic as lockdown and social distancing measures have forced consumers to stay at home and retail shops to close down, albeit temporarily. Moreover, severe global economic downturn has led to job losses and plummeting revenues for businesses, which has arrested spending on non-essential foods such as chocolate products. This, in turn, has contracted sales of some of the major players in the chocolate confectionery industry. The Hershey Company, for instance, reported in April that its international net sales dipped by 8.1% to USD 192.5 million. Similarly, in July 2020, Lindt & Spruengli, the Swiss chocolate maker, announced a fall in organic sales by 5-7% in the current year owing to store closures forced by COVID-19. Regional Insights North America to Have Dominating Lead in the Market Backed by High Demand for Premium Chocolates With a market size of USD 19.50 billion in 2019, North America is anticipated to lead the chocolate confectionery market share during the forecast, mainly owing to the high demand for premium chocolate snacks and products among the consumers in the region. However, in the US, whose market volume stood at 1,410.20 thousand tons in 2019, the market is expected to experience limited growth owing to increasing resistance to high-sugar chocolate confectioneries and rising preference for low-sugar confectionery items. In Europe, chocolate items are a central component in festivals in the region, which is the major factor augmenting the market growth. In Asia-Pacific, per capita consumption of chocolate products is increasing as a result of growing disposable income in the region. Large proportion of young population and evolving taste preferences are having a considerable influence on the growth trajectory of the market in the region. Competitive Landscape Heavy Investments in R&D by Key Players to Create Healthy Competitive Atmosphere The market for chocolate confectioneries is characterized by a healthy competitive climate as top companies are directing their energies towards elevating their R&D capabilities. Moreover, some players in this market are also engaging in efforts towards establishing sustainable agriculture practices in key cocoa producing regions. Industry Developments: July 2020: Mars, Incorporated announced its collaboration with World Agroforestry and the International Fund for Agricultural Development to initiate a 5-year-long research project called Sustainable Farming in Tropical Asian Landscapes. The project will be directed towards sustainably connecting small-scale cocoa and palm oil producers in Indonesia and the Philippines to global supply chains. October 2019: India-based ITC Limited released the world’s most expensive chocolate under its Fabelle brand. Priced at INR 4.3lakh per kilogram, the limited edition luxury chocolate dubbed ‘Trinity – Truffles Extraordinaire’ entered into the Guinness Book of World Records as the world’s costliest chocolate product. Browse In-depth Summary of This Research Insight: https://www.fortunebusinessinsights.com/industry-reports/chocolate-confectionery-market-100539

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