The Global Organic Chocolate Spreads Market size is expected to reach $826 Million by 2027, rising at a market growth of 5.4% CAGR during the forecast period. Chocolate spread refers to a soft and smooth chocolate-flavored paste. It is used as a spread on waffles, pancakes, muffins, and pitas. The tastes, smells, and looks of chocolate spread are the same as chocolate, and it does not get solidified even at room temperature.
Organic Chocolate spread is either eaten with bread, toast, or as a spread on waffles, pancakes, and cookies. The increasing urbanization and the adoption of Western culture have resulted in the higher consumption of organic chocolate spread. Moreover, the rising food product innovation is also boosting the demand for organic chocolate spread in recent years. The chefs in the cafés and restaurants are focused on novel dish developments which are pushing the growth of the global organic chocolate spread market.
Chocolate spread is a product often loved by children and use as a spread on their sandwiches. Some adults also enjoy chocolate spread added on the sandwiches as one of the comfort foods. Growing consumption of chocolate-based spreads added on the bread and toast as a part of the breakfast meal and increasing consumer inclination for organic and natural food products are likely to be key factors boosting the organic chocolate spread market over the forecast period.
Due to rapid urbanization across the globe, the lifestyle of people is becoming ever more hectic. There is a lack of time for cooking; therefore, people are willing to purchase the ready-to-cook and ready-to-eat food products. This factor is promoting the usage of readymade spreads and therefore would boost the growth of the organic chocolate spread market over the forecast period. Other factors like the availability of organic, low fat, low sugar, and gluten-free chocolate spread products are also increasing the already huge demand for these products in the market.
The sudden outbreak of the COVID-19 pandemic has a negative impact on the market in terms of sales. It has hampered the food industry market due to disruption in transport and supply chains. This led to the higher capabilities of the manufacturers to transport the products across the market owing to stringent norms of lockdown and growing safety concerns. Moreover, the temporary shutdown of specialty stores & hypermarkets, demand destruction, and supply chain interruptions have a negative impact on the growth of the organic chocolate spread market. Also, owing to stringent lockdown conditions the customer behavior has also changed across the globe, thereby impeded the chocolate spread market.
Although, despite the effects of Covid-19, the supply of the processed dairy products can reach foodservice restaurants as most of these chains work closely with food supply companies. This is important to assure faultless operations and deliveries of food products. This has kept the supply of organic chocolate spread market stable. The major industry players are focused on developing e-commerce websites in some targeted areas where the demand for these products is high. The pandemic has ignited a digital revolution in various industries, including the food market.
Based on Product, the market is segmented into Smart Watches, Pulse Oximeters, Smart Wrist Bands and Other Products. By product, the smartwatches segment acquired the largest revenue share in the Organic Chocolate Spreads Market in 2020 and is anticipated to register a significant CAGR during the forecast period. There is increasing usage of PPG biosensors in consumer smartwatches that keep track of the user’s health conditions on daily basis during their sleep, sport, and other activities.
Based on Product, the market is segmented into Hazelnut, Duo, Milk, Dark and Others. Dark chocolate is very popular among those consumers who seek a robust flavor. Since dark chocolate has a higher percentage of cocoa, it gives a bitter and less sweet taste as compared to other forms of chocolate spread. Dark chocolate spreads are offered by brands like Biona and Askinosie Chocolate and can be eaten by consumers in everyday diets.
Based on Distribution Channel, the market is segmented into Hypermarket & Supermarket, Online and Others. The online distribution channel sector would exhibit the fastest growth rate. In recent years, E-commerce has gained popularity due to its ease of buying things. People all across the globe are increasingly dependent on the internet shopping for buying their everyday necessities including food, personal care goods, groceries, and organic products.
| Report Attribute | Details |
|---|---|
| Market size value in 2020 | USD 557.1 Million |
| Market size forecast in 2027 | USD 826 Million |
| Base Year | 2020 |
| Historical Period | 2017 to 2019 |
| Forecast Period | 2021 to 2027 |
| Revenue Growth Rate | CAGR of 11.1% from 2021 to 2027 |
| Number of Pages | 151 |
| Number of Tables | 280 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling |
| Segments covered | Product, Distribution Channel, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. Europe appeared as the leading region in the global organic chocolate spreads market in 2020 by obtaining the largest revenue share. Across the globe, Europe possessed the largest portion of the market for certified organic cocoa. It is attributed to the factors like a significant number of exports of organic foods in this region. Apart from it, the world's largest chocolate producer is Europe.
Free Valuable Insights: Global Organic Chocolate Spreads Market size to reach USD 826 Million by 2027
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Nutiva, Inc., Rigoni di Asiago, Phalada Pure & Sure (Phalada Agro Research Foundations Pvt. Ltd.), Askinosie Chocolate, LLC, The Organic Family Ltd. (Mr. Organic), Cocofina Limited, Mason & Co., BIONA Organic, Artisana Organics (Premier Organics Inc.), and Pana Organic.
By Product
By Distribution Channel
By Geography
The organic chocolate spreads market size is projected to reach USD 826 Million by 2027.
The increasing popularity of organic chocolate spread among children and adults are driving the market in coming years, however, Fluctuating prices of raw materials may hamper the market limited the growth of the market.
Nutiva, Inc., Rigoni di Asiago, Phalada Pure & Sure (Phalada Agro Research Foundations Pvt. Ltd.), Askinosie Chocolate, LLC, The Organic Family Ltd. (Mr. Organic), Cocofina Limited, Mason & Co., BIONA Organic, Artisana Organics (Premier Organics Inc.), and Pana Organic.
The Europe market dominated the Global Organic Chocolate Spreads Market by Region 2020, growing at a CAGR of 5.1 % during the forecast period.
Based on distribution channels, supermarkets and hypermarkets procured the highest revenue share of the market in 2020.
Based on type, the dark chocolate segment would be the fastest-growing segment during the forecast period. Dark chocolate-based spreads are rich in minerals and vitamins like calcium and iron.
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