Increasing demand for confectionary food items around the world is impelling the growth for the global chocolate confectionery market says Fortune Business Insights in a report titled “Chocolate Confectionery Market Size, Share and Global Trend by Type (Dark, White, Milk), By Product (Countlines, Boxed, Seasonal Chocolates, Molded Bars, Straightlines), And Geography Forecast till 2026”. Key companies are launching new exotic products to remain prominent in the global market which is facilitating the growth of the global chocolate confectionery market.
List of prominent companies that are operating in the global Chocolate Confectionery Market are:
- Mondelez International, Inc.,
- Nestle S.A.,
- Ferrero S.p.A.,
- Mars Inc.,
- The Hershey Company,
- Grupo Arcor,
- Lindt & Sprugli,
- Perfetti Van Melle S.p.A.,
- Shadani Group, and Meiji Holdings
ITC Unveils Its First Ruby Chocolate
ITC Fabelle, the home-grown luxury chocolate brand launched its first-ever ruby chocolate in the form of Ruby Gianduja. These ruby chocolates along with hazelnut paste are handcrafted and manufactured by ITC in Bengaluru. The launch of ruby chocolates is predicted to fuel demand and attract consumers, owing to the unique berry taste of the chocolates. The launch of exotic brands by leading chocolate companies is driving the chocolate and confectionery market.
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For instance, Hershey India Pvt Ltd., a part of the leading snacking giant The Hershey Company announced its Kisses brands of chocolates in the Indian market. The company launched three variants under its newly launched brand, which includes Cookies ‘n’ Crème, Milk Chocolate, & Almonds. The launch of different variants by Hershey is expected to escalate the growth of the global chocolate and confectionery market.
Benefits of Dark Chocolate to Contribute to The Rising Demand
The chocolate confectionery market on the basis of type is segmented into dark chocolate, white chocolate, and milk chocolate. The dark chocolate segment is predicted to witness high demand during the forecast period, owing to the health benefits associated with the consumption of dark chocolate and rising inclination of consumers towards the product. The dark chocolates are filled with antioxidants which helps in the prevention of heart diseases and infections.
These factors are further predicted to aid the growth of the segment. The chocolate confectionery market on the basis of product is segmented into countlines, boxed, seasonal chocolates, molded bars, Straightlines, and others. Countlines are likely to lead and hold a major share in the global chocolate confectionery market, owing to acceptance of countlines as an easy and convenient snacking option for consumers. Further, Seasonal chocolates are projected to witness rapid growth, owing to the rising attractiveness of chocolates as gifting options on occasions.
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Major Segments include:
- Seasonal Chocolates
- Molded Bars
Europe to Dominate the Global Market
Geographically, the global chocolate confectionery market is segmented into North America, Europe, Asia-pacific, South America, Middle East & Africa. Europe is predicted to dominate the global chocolate confectionery market, owing to rising per capita consumption of chocolate across various European nations, such as Germany, Switzerland, U.k and others.
Existing prominent key players in the European market along with rising cocoa processing industry in the region is anticipated to boost the chocolate confectionery market during the forecast period. In 2017, according to the Centre for the Promotion of Imports (CBI), the cocoa processing industry of Europe grew by 2.6%. This factor is expected to contribute profoundly to the global chocolate confectionery market.
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