Chocolate Confectionery Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028

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Chocolate Confectionery Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028

Status : October, 2019 | Food and Beverages | PPT format

Report Digest


Chocolate Confectionery Market Introduction

The confectionery industry is broadly segmented into two categories – bakers’ confectionery and sugar confectionery. Chocolate confectionery involves sugar confections, in which the primary ingredient is chocolate. Depending on the types of chocolates, such as dark chocolates, milk chocolates, and white chocolates, various innovative types of chocolate confections are being introduced by leading players in the chocolate confectionery market.

Chocolate Confectionery Market – Notable Developments

  • Mars Wrigley Confectionery, world’s leading manufacturer of chocolate confectionery, announced its new cocoa sustainability strategy in September 2018. Company’s new plan – Cocoa for Generations – for overhauling its cocoa supply chain creates a pathway for cocoa-growing communities and smallholder cocoa farmers to thrive. The company also announced an investment of US$1 billion over the span of a decade and its goal to have 100% of its cocoa in chocolate confectionery to be responsibly traceable and sourced globally by 2025.
  • Mondelez International, Inc. is another American chocolate confectionery company to have announced that its chocolate brand ‘Milka’ will join sustainable cocoa sourcing program by the company to source all its cocoa sustainably over time. Through the Cocoa Life program, the company aims to reach over 200 thousand farmers and more than one million people by 2022.
  • Ferrero Group, another leading player in the chocolate confectionery market – announced in January 2018 that it has entered a definitive agreement to acquire Nestlé’s confectionery business in the United States (U.S.) for US$ 2.8 billion. The company also announced that it will acquire more than twenty chocolate confectionery brands in the U.S., including BabyRuth®, Butterfinger®, Wonka®, Raisinets®, and 100Grand®, and Nestlé’s U.S. chocolate confectionery facilities in Bloomington, Illinois, Franklin Park and Itasca, to expand its presence in the U.S. markets on a greater scale. 

Some of the most prominent competitors operating in the competitive landscape of global chocolate confectionery market include –

  • Lotte Confectionery Co. Ltd.
  • Nestlé S.A.
  • Grupo Arcor
  • Ferrero SpA
  • The Hershey Company
  • Lindt & Sprüngli AG
  • Ezaki Glico Co., Ltd.
  • Mars Incorporated
  • Delfi Limited
  • Mondelez International, Inc.
  • Wm. Wrigley Jr. Company

Chocolate Confectionery Market Dynamics 

Rapid Retail Market Expansion is Powering the Chocolate Confectionery Market

The chocolate confectionery market is gaining momentum as a wide range of chocolate confections are vended through multiple distribution channels, such as supermarkets, grocery stores, hypermarkets, online stores, convenience stores, forecourt retailers, and specialty confectionery stores. The global retail industry is undergoing explosive modernization with increasing investments in developing markets, such as chocolate confectionery market.

Thereby, lucrative opportunities in the retail industry are acting as a marketing tool for chocolate confectionery market players, enabling them to build a premium brand image and increasing brand exposure to a wide consumer base. This is expected to complement growth of the chocolate confectionery market in the upcoming years. 

Increasing Use of Unique and Unusual Ingredients – An Emerging Trend in the Chocolate Confectionery Market

Increasing growth of the confectionery industry as well as the chocolate industry is making chocolate confectionery market an intensely competitive market. Leading players in the chocolate confectionery market are adopting product innovation strategies to introduce unique flavors and ingredients in chocolate confections.

Consumers are willing to try new flavors and types of chocolate confections and this is encouraging chocolate confectionery market players to beyond the usual flavors and experiment with unusual ingredients, such as fruits, nuts, vegetables, and cereals. Innovation in the variety of ingredients used in chocolate confections, apart from chocolates, is likely to emerge as a popular trend among a majority of players in the chocolate confectionery market in the coming future. 

Innovative Advertising Strategies by Market Leaders Are Giving the Chocolate Confectionery Market a New Direction

While the chocolate confectionery market is witnessing incremental growth with burgeoning demand, the heavy impact of advertising on the target consumer base is encouraging chocolate confectionery market players to come up with innovative promotional strategies. Leading players in the chocolate confectionery market are conducting many product promotional and marketing activities among their target consumer groups to improve the outreach of their products.

Furthermore, a mounting number of players in the chocolate confectionery market are adopting the strategy using appealing packaging to attract a larger consumer base. Moreover, conducting branding activities and innovative promotional events on a large scale is expected to augur well for stakeholders in the chocolate confectionery market. In order to ensure the appropriate impact of their advertising and promotional strategies, leading players in the chocolate confectionery market are closely monitoring changing end-user or consumer behavior patterns, which is giving the chocolate confectionery market a new direction. 

Chocolate Confectionery Market Segmentation

Based on the product types, the chocolate confectionery market is segmented into,

  • Dark Chocolate Confectionery
    • Semi-sweet Chocolate
    • Bitter Chocolate
    • Other Dark Chocolates
  • Milk Chocolate Confectionery
  • White Chocolate Confectionery
  • Organic Chocolate Confectionery
  • Nut Chocolate Confectionery
  • Chocolate Creams

Based on the end products, the chocolate confectionery market is segmented into

  • Chocolate with Toys
  • Countlines
  • Chocolate Lollipops
  • Straightlines
  • Bagged Selflines/Softlines
  • Novelties
  • Boxed
  • Seasonal Chocolates
  • Molded Bars & Tablets
  • Alfajores
  • Others

Based on distribution channels, the chocolate confectionery market is segmented into

  • Supermarkets/Hypermarkets
  • Convenience Stores
  • Club Stores
  • Drug Stores
  • Confectionery Specialists/Shops
  • Online Retail
  • Discounters/Dollar Stores
  • Independent Small Grocers
  • Health and Beauty Retailers
  • Other Distribution Channels

The study presents reliable qualitative and quantitative insights into:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand chain of the market
  • Market valuation (revenue and/or volume)
  • Key trends/opportunities/challenges
  • Forces defining present and estimated future state of the competitive landscape
  • Technological developments
  • Value chain and stakeholder analysis

The regional analysis covers:

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East and Africa

The vast market research data included in the study is the result of extensive primary and secondary research activities. Surveys, personal interviews, and inputs from industry experts form the crux of primary research activities and data collected from trade journals, industry databases, and reputable paid sources form the basis of secondary research. The report also includes a detailed qualitative and quantitative analysis of the market, with the help of information collected from market participants operating across key sectors of the market value chain. A separate analysis of macro- and micro-economic aspects, regulations, and trends influencing the overall development of the market is also included in the report.

Highlights of the report:

  • A detailed analysis of key segments of the market
  • Recent developments in the market’s competitive landscape
  • Detailed analysis of market segments up to second or third level of segmentation
  • Historical, current, and projected future valuation of the market in terms of revenue and/or volume
  • Key business strategies adopted by influential market vendors
  • Outline of the regulatory framework surrounding and governing numerous aspects of the market
  • Growth opportunities in emerging and established markets
  • Recommendations to market players to stay ahead of the competition

Note: Immense care has been taken to present data with the highest levels of accuracy in all TMRResearch reports. Nevertheless, recent developments related to market/vendor landscape may take time to reflect in the analysis.

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