Market Overview

Chocolate is a typically sweet, usually brown comfort food prepared from cocoa tree in the form of blocks, liquid, or paste. Chocolate is used as flavoring ingredients in several foodstuffs, such as chocolate brownies, cakes, chocolate cookies, bars, and candies. The main ingredient cocoa provides phytochemicals, which is an antioxidant. The content of phytochemicals is high in dark chocolates. Chocolate increases serotonin levels in the brain and the gut and improves immune system.

The increasing awareness of health benefits associated with chocolate is major factor propelling growth of the chocolate market. Consuming chocolate offers health benefits such as blood pressure suppressing property, antioxidant enrichment, and anti-aging. Furthermore, increasing demand for chocolate and chocolate-base products on seasonal and festival occasion significantly contributes to growth of the chocolate market. High demand for chocolate in confectionery market further fuels growth of the market. For instance, according to Coherent Market Insights’ analysis, the confectionery market is expected to witness CAGR of 3.8% during the forecast period of 2017 - 2025.

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Market Dynamics

Major drivers propelling the growth of chocolate market includes wide range of application such as flavored food items and confectionary products. Milk chocolates dominates the flavored chocolate market, followed by dark chocolate. According to coherent market insights, global milk chocolate market is valued US$ 39.49 billion in 2016. Rising awareness about the health benefits of dark chocolate, such as potential cancer prevention, improved heart health, maintaining cholesterol level, and high antioxidant level is expected to boost the growth of chocolate market over the forecast period. According to National Center for Biotechnology Information (NCBI), cocoa chocolate has cancer protective properties along with it is strong antioxidant effects with a pleasurable eating experience.

Detailed Segmentation:

Global Chocolate Market, By Price Range:

Economic Chocolate

Mid-Range Chocolate

Premium Chocolate

Global Chocolate Market, By Flavor:

White Chocolate

Milk Chocolate

Dark Chocolate

Bittersweet

Semi-sweet

Others

Some of the major players in the chocolate market include Mars, Hershey, Nestlé, Barry Callebaut, Kraft Foods, Ferrero, Moonstruck Chocolatier Co., Ghirardelli Chocolate Co., and Mondelez International (Cadbury).

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