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

  • Single User License $3500

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

Status : August, 2021 | Food and Beverages

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 reports at TMR Research provide qualitative solutions that break the barriers of doubt or uncertainties when the stakeholders plan to expand their growth reach. The researchers compile the necessary information that enlightens the CXOs about the current growth opportunities in a specific market and enables them to make the most of the opportunities.

TMR Research is a leader in developing well-researched reports. The expertise of the researchers at TMR Research makes the report stand out from others. TMR Research reports help the stakeholders and CXOs make impactful decisions through a unique blend of innovation and analytical thinking. The use of innovation and analytical thinking while structuring a report assures complete and ideal information of the current status of the market to the stakeholders.

TMR Research has rich experience in developing state-of-the-art reports for a wide array of markets and sectors. The brilliance of the experts at TMR Research and their alacrity to conduct thorough research and create phenomenal reports makes TMR Research better than others.

5-Point Growth Formula

The 5-point growth formula developed by TMR Research provides an insight to the stakeholders and CXOs about the current situation in the market. The growth formula makes the report a perfect companion for the stakeholders and CXOs.

The 5-point growth formula includes the following points:

  • Current and Future Threats
  • Accurate Trend Analysis
  • Regional Assessment
  • Industrial Analogy
  • COVID-19 Impact

Current and Future Threats

Along with studying the opportunities necessary for growth, threats are also an important aspect to look upon for the companies and stakeholders in a specific sector. TMR Research studies every negative aspect that will hinder the growth of a specific area of business and includes it in the report. The stakeholders and CXOs will have the benefit of assessing the threat and take the necessary steps to prevent the hindrance caused due to the threats.

Accurate Trend Analysis

Keeping up with the latest trends is crucial in any business or sector. While stakeholders are aware of the trends that are on the surface, TMR Researchers find trends that are deeply entrenched in the particular market or sector. The reports are constantly updated with the latest trends so that the stakeholders and CXOs can derive benefits from the trends and generate good revenues.

Regional Assessment

Demography forms an important part of the growth pattern of all the markets. Diving deep into the demographics enables maximum output from specific areas. The TMR Research team assesses every region and picks out the vital points that have a large impact on the growth of a market.

Industrial Analogy

The analysts at TMR Research conduct an all-round analysis on the competitive landscape of the market. The observations recorded by the analysts are added to the reports so that every stakeholder gets a glimpse of the competitive scenario and frame their business plans according to the situation.

COVID-19 Impact

The COVID-19 outbreak has changed the growth projections of numerous sectors and businesses. The analysts at TMR Research have conducted a conscientious survey on the markets after the pandemic struck. The analysts have put forth their brilliant and well-researched opinions in the report. The opinions will help the stakeholders to plan their strategy accordingly.

The reports offer answers to the top 7 questions that revolve around the growth of the market

  • What are the diverse growth parameters influencing the market?
  • Which regions will contribute largely to the growth of the market
  • What are the recent innovations and technological advancements in the market?
  • What are the emerging trends across the market?
  • How has COVID-19 affected the market?
  • What will be the post-pandemic scenario of the market?
  • What are the major threats that will dent the growth prospects of the market?