Chocolate Confectionery Market Current And Future Demand

The chocolate confectionery market size was valued at $77.6 billion in 2021, and is estimated to reach $118.6 billion by 2031, growing at a CAGR of 4% from 2022 to 2031.The market growth is propelled by several factors such as product innovations, a rise in the trend of gifting confectionery, economic growth, a rise in disposable income, and others. Consumer habits, tastes, and preferences are constantly evolving. This has led to innovation in the field of chocolate confectionery market trends that drive market growth.

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The megatrend of organic and premium chocolate confectionery has attracted a wider range of consumers. Most consumers are ready to pay a high price for organic chocolates, with a belief that they have additional benefits. However, organic chocolates have witnessed high acceptance by many customers as they are rich in antioxidants.

Key Companies:

Players operating in the global chocolate confectionery market have adopted various developmental strategies to expand their chocolate confectionery market share, increase profitability, and remain competitive in the market. Key players profiled in this report include Barry Callebaut, Chocoladefabriken Lindt & Sprüngli AG, Delfi Limited, Ferrero International S.A, Lotte Corporation, Mars, Incorporated, Mondelez International, Inc, Nestle S.A, Perfetti Van Melle, and The Hershey Company.

Key findings of the study

• According to the chocolate confectionery market demand, on the basis of age group, the adult segment is expected to dominate the market from 2022 to 2031.

• On the basis of distribution channel, the supermarkets & hypermarkets segment is expected to grow at a significant CAGR during the chocolate confectionery market forecast period.

• On the basis of country, the U.S. was the largest market for the chocolate confectionery industry in 2021, in terms of revenue generation in North America.

• On the basis of region, Asia-Pacific is anticipated to witness the highest growth rate, registering a CAGR of 4.7% from 2022 to 2031.

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