Chocolate Confectionery Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028
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
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., and Wm. Wrigley Jr. Company are among the leading companies in the chocolate confectionery market.
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,
Based on the end products, the chocolate confectionery market is segmented into
Based on distribution channels, the chocolate confectionery market is segmented into
The study presents reliable qualitative and quantitative insights into:
The regional analysis covers:
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:
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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