Published Date: 31-May-2022
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According to a new report, published by KBV research, The Global Chocolate Confectionery Market size is expected to reach $265.9 billion by 2028, rising at a market growth of 6.7% CAGR during the forecast period.
The Dark segment is showcasing a CAGR of 7.2% during (2022 - 2028). The increasing growth of the segment is attributed to the health benefits linked with the consumption of dark chocolates. With altering taste preferences and a greater understanding of several health advantages of dark chocolate, the product's appeal among consumers has risen in recent years, particularly in developed countries. As a result of these changes, many product manufacturers are releasing vegan and organic items on the market. This factor is propelling the growth of this segment.
The Supermarkets & Hypermarkets segment acquired maximum revenue share in the Global Chocolate Confectionery Market by Distribution Channel in 2021, thereby, achieving a market value of $107.0 Billion by 2028. Due to the significant consumer preference for shopping for grocery products at supermarkets. Because of their larger client bases, most new items are introduced at huge supermarkets and hypermarkets like Walmart, Tesco, and Kroger. Additionally, the availability of both luxury and private label items in these outlets increases sales through such distribution channels.
The Chips & Bites segment has shown growth rate of 6.9% during (2022 - 2028). Chips and nibbles are becoming more popular as the demand for premium items for various festivals and minor events grows. While all restaurants and bakeries were closed, a worldwide trend of home cooking and producing unusual dishes, particularly bakery goods, was seen. The product's popularity is growing among millennials and centennials.
The Europe market dominated the Global Chocolate Confectionery Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $104.2 Billion by 2028. The Asia Pacific market is estimated to witness a CAGR of 7.4% during (2022 - 2028). Additionally, The North America market would experience a CAGR of 6.2% during (2022 - 2028).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Ferrero Group, The Hershey Company (Hershey Trust Company), Lindt & Sprungli AG, Mars, Inc., Mondelez International, Inc., Nestle S.A., The Barry Callebaut Group, Lotte Corporation, Lake Champlain Chocolates, and CÉMOI Group.
By Distribution Channel
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