Europe Chocolate Market by Product and Distribution Channel - Forecast and Analysis 2023-2027

Published: Oct 2023

Pages: 151

SKU: IRTNTR41279

Snapshot

Chocolate Market in Europe Forecast 2023-2027

The Europe Chocolate Market size is projected to increase by USD 17,691.38 million and the market size is estimated to grow at a CAGR of 4.95% between 2022 and 2027.

The increasing number of new product launches and rising demand for seasonal chocolates are driving the chocolate market growth in Europe. Some of the key drivers for the significant chocolate market growth in Europe include new product development, improvements in taste and versatility, packaging innovations, and a high focus on marketing and promotional campaigns. There is an increasing demand for several seasonal chocolates during festive seasons such as Easter, Valentine's Day, Christmas, and Halloween. Vendors like Ferrero and Chocoladefabriken Lindt and Sprungli have significantly contributed to the market growth. Hence, such factors are expected to drive the chocolate market growth in Europe during the forecast period.

Chocolate Market in Europe : Overview

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Trends

The rising trend of product premiumization in the chocolate market is expected to have a positive impact on the market in the coming years. There is a growing trend of product premiumization in Europe which is also influencing the chocolate segment as well. Some of the main buyers of the premium segment include consumers who are conscious of the brand and quality.

As there is an increasing demand for the premium chocolate segment, several vendors such as Ferrero, Chocoladefabriken Lindt and Sprungli, and Yildiz Holding have started positioning their products as gift items. Additionally, several prominent vendors in Europe are launching their own range of premium chocolates to attract consumers whose buying behavior is greatly influenced by price, packaging, ingredients, authenticity, provenance, and brand experience. For instance, In May 2019, Ferrero launched a new premium Chocolate brand, Ferrero Golden Gallery Signature. Hence, such factors are expected to drive the chocolate market growth in Europe during the forecast period.

Challenge

Unstable cocoa prices will be a major challenge for the Europe chocolate market during the forecast period. One of the significant challenges faced by chocolate vendors in Europe is the fluctuating prices of cocoa which makes the cost of chocolate production more volatile and prevent manufacturers and marketers of chocolate products from estimating their production costs on a yearly basis.

One of the main problems with coca prices is that it depends on the growing conditions and can vary largely from month to month. Factors such as Crop disease, aging crops, and political instability in key cacao-growing countries such as Ghana and the Ivory Coast in Africa are determining the prices of cocoa around the world. Hence, such factors are expected to hinder the chocolate market growth in Europe during the forecast period.

Segmentation by Distribution Channel

Offline channels like supermarkets, hypermarkets, and convenience stores will dominate market growth. Online sales will also grow due to high internet penetration and smartphone usage. Overall, Europe's chocolate market is expected to thrive in both offline and online segments.

Segmentation by Product

The milk chocolate segment is estimated to witness significant growth during the forecast period. Milk chocolate comprises 15%-20% of cocoa solids and dried milk solids. One of the most consumed chocolate segments in 2022 was milk chocolate.

The milk chocolate segment was the largest segment and was valued at USD 29,780.35 million in 2017.

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The growing demand for dark chocolates, especially in Western Europe, could impact market growth negatively. To stay competitive, vendors focus on product innovation, like Mondelez International leveraging Cadbury Dairy Milk Oreo Sandwich Bar's popularity in the UK and Ireland. Rising per capita consumption, new product launches, and organized retailing will drive segment growth in the forecast period.

Company Overview

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

Key Offering - Barry Callebaut AG: The company offers chocolates under the brands Callebaut, Cacao Barry, Carma.
Key Offering - Cargill Inc: The company offers chocolates under the brand Gerkens.
Key Offering - Cloetta AB: The company offers chocolates under the brands Lakerol, Cloetta, CandyKing,

The report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Market Analyst Overview

The European Chocolate Market is dominated by European Chocolate Manufacturers, with Market Share distributed across various segments. Product Types range from Softlines/Selflines to Boxed Assortments and Seasonal Chocolates. Distribution Channels include Supermarkets/Hypermarkets, Specialist Retailers, and Online Retail, catering to diverse consumer preferences. The market is valued in USD million. While the craft chocolate segment faces challenges such as a decline in sales due to health concerns related to high sugar content, the industry witnesses a rise in demand for dark and organic chocolates. European Chocolate Market Trends reflect a shift towards "Better-for-you" and "Free-from" Products, including sugar-free and vegan chocolates, with leading players like Love Cocoa innovating with natural ingredients such as avocado. Notable regions in the market include Germany, known for its specialty cocoa and chocolate markets, and Belgium, home to renowned brands like Godiva.

Segment Overview

The Europe chocolate market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest market growth and trends and growth opportunities from 2017 to 2027.

Product Outlook (USD Million, 2017 - 2027)
- Milk chocolate
- Dark chocolate
- White chocolate
Distribution Channel Outlook (USD Million, 2017 - 2027)
- Offline
- Online

Scope
Report Coverage	Details
Page number	151
Base year	2022
Historic period	2017-2021
Forecast period	2023-2027
Growth momentum & CAGR	Accelerate at a CAGR of 4.95%
Market growth 2023-2027	USD 17691.38 million
Market structure	USD Fragmented
YoY growth 2022-2023(%)	4.29
Regional analysis	Europe
Performing market contribution	Europe at 100%
Key countries	Western Europe and Central and Eastern Europe
Competitive landscape	Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks
Key companies profiled	Arcor Group, Barry Callebaut AG, Cargill Inc., Chocoladefabriken Lindt and Sprungli AG, Cloetta AB, Ezaki Glico Co. Ltd., Ferrero International S.A., General Mills Inc., Kerry Group Plc, Mars Inc., Meiji Holdings Co. Ltd., Mondelez International Inc., Montezumas Direct Ltd., Morinaga and Co. Ltd., Nestle SA, ORION Holdings Corp., Perfetti Van Melle Group BV, Tate and Lyle Plc, The Hershey Co., and The Kraft Heinz Co.
Market dynamics	Parent market analysis, Market forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Chocolate Market In Europe In Regional Research Report?

CAGR of the market during the forecast period
Detailed information on factors that will drive the market growth and forecasting of the market between 2023 and 2027
Precise estimation of the size of the market size and its contribution to the parent market
Accurate predictions about upcoming market trends and analysis and changes in consumer behavior
Growth of the market industry across Europe, North America, APAC, South America, and Middle East and Africa
Thorough market growth analysis of the market’s competitive landscape and detailed information about vendors
Comprehensive market analysis and report on the factors that will challenge the market research and growth of market vendors

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Table of Contents

1 Executive Summary

1.1 Market overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Country Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market by Geography
- Exhibit 05: Executive Summary – Chart on Market Segmentation by Product
- Exhibit 06: Executive Summary – Chart on Market Segmentation by Distribution Channel
- Exhibit 07: Executive Summary – Chart on Incremental Growth
- Exhibit 08: Executive Summary – Data Table on Incremental Growth
- Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

2.1 Market ecosystem
- Exhibit 10: Parent market
- Exhibit 11: Market Characteristics

3 Market Sizing

3.1 Market definition
- Exhibit 12: Offerings of vendors included in the market definition

3.2 Market segment analysis
- Exhibit 13: Market segments

3.3 Market size 2022

3.4 Market outlook: Forecast for 2022-2027
- Exhibit 14: Chart on Europe - Market size and forecast 2022-2027 ($ million)
- Exhibit 15: Data Table on Regional - Market size and forecast 2022-2027 ($ million)
- Exhibit 16: Chart on Europe: Year-over-year growth 2022-2027 (%)
- Exhibit 17: Data Table on Regional - Market size and forecast 2022-2027 ($ million)

4 Historic Market Size

4.1 Chocolate market in Europe 2017 - 2021
- Exhibit 18: Historic Market Size – Data Table on chocolate market in Europe 2017 - 2021 ($ million)

4.2 Product Segment Analysis 2017 - 2021
- Exhibit 19: Historic Market Size – Product Segment 2017 - 2021 ($ million)

4.3 Distribution channel Segment Analysis 2017 - 2021
- Exhibit 20: Historic Market Size – Distribution channel Segment 2017 - 2021 ($ million)

4.4 Geography Segment Analysis 2017 - 2021
- Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

5.1 Five forces summary
- Exhibit 22: Five forces analysis - Comparison between 2022 and 2027

5.2 Bargaining power of buyers
- Exhibit 23: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

5.3 Bargaining power of suppliers
- Exhibit 24: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

5.4 Threat of new entrants
- Exhibit 25: Threat of new entrants – Impact of key factors in 2022 and 2027

5.5 Threat of substitutes
- Exhibit 26: Threat of substitutes – Impact of key factors in 2022 and 2027

5.6 Threat of rivalry
- Exhibit 27: Threat of rivalry – Impact of key factors in 2022 and 2027

5.7 Market condition
- Exhibit 28: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Product

6.1 Market segments
- Exhibit 29: Chart on Product - Market share 2022-2027 (%)
- Exhibit 30: Data Table on Product - Market share 2022-2027 (%)

6.2 Comparison by Product
- Exhibit 31: Chart on Comparison by Product
- Exhibit 32: Data Table on Comparison by Product

6.3 Milk chocolate - Market size and forecast 2022-2027
- Exhibit 33: Chart on Milk chocolate - Market size and forecast 2022-2027 ($ million)
- Exhibit 34: Data Table on Milk chocolate - Market size and forecast 2022-2027 ($ million)
- Exhibit 35: Chart on Milk chocolate - Year-over-year growth 2022-2027 (%)
- Exhibit 36: Data Table on Milk chocolate - Year-over-year growth 2022-2027 (%)

6.4 Dark chocolate - Market size and forecast 2022-2027
- Exhibit 37: Chart on Dark chocolate - Market size and forecast 2022-2027 ($ million)
- Exhibit 38: Data Table on Dark chocolate - Market size and forecast 2022-2027 ($ million)
- Exhibit 39: Chart on Dark chocolate - Year-over-year growth 2022-2027 (%)
- Exhibit 40: Data Table on Dark chocolate - Year-over-year growth 2022-2027 (%)

6.5 White chocolate - Market size and forecast 2022-2027
- Exhibit 41: Chart on White chocolate - Market size and forecast 2022-2027 ($ million)
- Exhibit 42: Data Table on White chocolate - Market size and forecast 2022-2027 ($ million)
- Exhibit 43: Chart on White chocolate - Year-over-year growth 2022-2027 (%)
- Exhibit 44: Data Table on White chocolate - Year-over-year growth 2022-2027 (%)

6.6 Market opportunity by Product
- Exhibit 45: Market opportunity by Product ($ million)
- Exhibit 46: Data Table on Market opportunity by Product ($ million)

7 Market Segmentation by Distribution Channel

7.1 Market segments
- Exhibit 47: Chart on Distribution Channel - Market share 2022-2027 (%)
- Exhibit 48: Data Table on Distribution Channel - Market share 2022-2027 (%)

7.2 Comparison by Distribution Channel
- Exhibit 49: Chart on Comparison by Distribution Channel
- Exhibit 50: Data Table on Comparison by Distribution Channel

7.3 Offline - Market size and forecast 2022-2027
- Exhibit 51: Chart on Offline - Market size and forecast 2022-2027 ($ million)
- Exhibit 52: Data Table on Offline - Market size and forecast 2022-2027 ($ million)
- Exhibit 53: Chart on Offline - Year-over-year growth 2022-2027 (%)
- Exhibit 54: Data Table on Offline - Year-over-year growth 2022-2027 (%)

7.4 Online - Market size and forecast 2022-2027
- Exhibit 55: Chart on Online - Market size and forecast 2022-2027 ($ million)
- Exhibit 56: Data Table on Online - Market size and forecast 2022-2027 ($ million)
- Exhibit 57: Chart on Online - Year-over-year growth 2022-2027 (%)
- Exhibit 58: Data Table on Online - Year-over-year growth 2022-2027 (%)

7.5 Market opportunity by Distribution Channel
- Exhibit 59: Market opportunity by Distribution Channel ($ million)
- Exhibit 60: Data Table on Market opportunity by Distribution Channel ($ million)

8 Customer Landscape

8.1 Customer landscape overview
- Exhibit 61: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

9.1 Geographic segmentation
- Exhibit 62: Chart on Market share by geography - 2022-2027 (%)
- Exhibit 63: Data Table on Market share by geography - 2022-2027 (%)

9.2 Geographic comparison
- Exhibit 64: Chart on Geographic comparison
- Exhibit 65: Data Table on Geographic comparison

9.3 Western Europe - Market size and forecast 2022-2027
- Exhibit 66: Chart on Western Europe - Market size and forecast 2022-2027 ($ million)
- Exhibit 67: Data Table on Western Europe - Market size and forecast 2022-2027 ($ million)
- Exhibit 68: Chart on Western Europe - Year-over-year growth 2022-2027 (%)
- Exhibit 69: Data Table on Western Europe - Year-over-year growth 2022-2027 (%)

9.4 Central and Eastern Europe - Market size and forecast 2022-2027
- Exhibit 70: Chart on Central and Eastern Europe - Market size and forecast 2022-2027 ($ million)
- Exhibit 71: Data Table on Central and Eastern Europe - Market size and forecast 2022-2027 ($ million)
- Exhibit 72: Chart on Central and Eastern Europe - Year-over-year growth 2022-2027 (%)
- Exhibit 73: Data Table on Central and Eastern Europe - Year-over-year growth 2022-2027 (%)

9.5 Market opportunity by geography
- Exhibit 74: Market opportunity by geography ($ million)
- Exhibit 75: Data Table on Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

10.1 Market drivers

10.2 Market challenges

10.3 Impact of drivers and challenges
- Exhibit 76: Impact of drivers and challenges in 2022 and 2027

10.4 Market trends

11 Vendor Landscape

11.1 Overview

11.2 Vendor landscape
- Exhibit 77: Overview on Criticality of inputs and Factors of differentiation

11.3 Landscape disruption
- Exhibit 78: Overview on factors of disruption

11.4 Industry risks
- Exhibit 79: Impact of key risks on business

12 Vendor Analysis

12.1 Vendors covered
- Exhibit 80: Vendors covered

12.2 Market positioning of vendors
- Exhibit 81: Matrix on vendor position and classification

12.3 Barry Callebaut AG
- Exhibit 82: Barry Callebaut AG - Overview
- Exhibit 83: Barry Callebaut AG - Business segments
- Exhibit 84: Barry Callebaut AG - Key news
- Exhibit 85: Barry Callebaut AG - Key offerings
- Exhibit 86: Barry Callebaut AG - Segment focus

12.4 Cargill Inc.
- Exhibit 87: Cargill Inc. - Overview
- Exhibit 88: Cargill Inc. - Product / Service
- Exhibit 89: Cargill Inc. - Key news
- Exhibit 90: Cargill Inc. - Key offerings

12.5 Chocoladefabriken Lindt and Sprungli AG
- Exhibit 91: Chocoladefabriken Lindt and Sprungli AG - Overview
- Exhibit 92: Chocoladefabriken Lindt and Sprungli AG - Business segments
- Exhibit 93: Chocoladefabriken Lindt and Sprungli AG - Key news
- Exhibit 94: Chocoladefabriken Lindt and Sprungli AG - Key offerings
- Exhibit 95: Chocoladefabriken Lindt and Sprungli AG - Segment focus

12.6 Cloetta AB
- Exhibit 96: Cloetta AB - Overview
- Exhibit 97: Cloetta AB - Business segments
- Exhibit 98: Cloetta AB - Key offerings
- Exhibit 99: Cloetta AB - Segment focus

12.7 Ezaki Glico Co. Ltd.
- Exhibit 100: Ezaki Glico Co. Ltd. - Overview
- Exhibit 101: Ezaki Glico Co. Ltd. - Business segments
- Exhibit 102: Ezaki Glico Co. Ltd. - Key offerings
- Exhibit 103: Ezaki Glico Co. Ltd. - Segment focus

12.8 Ferrero International S.A.
- Exhibit 104: Ferrero International S.A. - Overview
- Exhibit 105: Ferrero International S.A. - Product / Service
- Exhibit 106: Ferrero International S.A. - Key news
- Exhibit 107: Ferrero International S.A. - Key offerings

12.9 General Mills Inc.
- Exhibit 108: General Mills Inc. - Overview
- Exhibit 109: General Mills Inc. - Business segments
- Exhibit 110: General Mills Inc. - Key news
- Exhibit 111: General Mills Inc. - Key offerings
- Exhibit 112: General Mills Inc. - Segment focus

12.10 Mars Inc.
- Exhibit 113: Mars Inc. - Overview
- Exhibit 114: Mars Inc. - Product / Service
- Exhibit 115: Mars Inc. - Key news
- Exhibit 116: Mars Inc. - Key offerings

12.11 Meiji Holdings Co. Ltd.
- Exhibit 117: Meiji Holdings Co. Ltd. - Overview
- Exhibit 118: Meiji Holdings Co. Ltd. - Business segments
- Exhibit 119: Meiji Holdings Co. Ltd. - Key news
- Exhibit 120: Meiji Holdings Co. Ltd. - Key offerings
- Exhibit 121: Meiji Holdings Co. Ltd. - Segment focus

12.12 Mondelez International Inc.
- Exhibit 122: Mondelez International Inc. - Overview
- Exhibit 123: Mondelez International Inc. - Business segments
- Exhibit 124: Mondelez International Inc. - Key news
- Exhibit 125: Mondelez International Inc. - Key offerings
- Exhibit 126: Mondelez International Inc. - Segment focus

12.13 Morinaga and Co. Ltd.
- Exhibit 127: Morinaga and Co. Ltd. - Overview
- Exhibit 128: Morinaga and Co. Ltd. - Product / Service
- Exhibit 129: Morinaga and Co. Ltd. - Key offerings

12.14 Nestle SA
- Exhibit 130: Nestle SA - Overview
- Exhibit 131: Nestle SA - Business segments
- Exhibit 132: Nestle SA - Key news
- Exhibit 133: Nestle SA - Key offerings
- Exhibit 134: Nestle SA - Segment focus

12.15 ORION Holdings Corp.
- Exhibit 135: ORION Holdings Corp. - Overview
- Exhibit 136: ORION Holdings Corp. - Product / Service
- Exhibit 137: ORION Holdings Corp. - Key offerings

12.16 The Hershey Co.
- Exhibit 138: The Hershey Co. - Overview
- Exhibit 139: The Hershey Co. - Business segments
- Exhibit 140: The Hershey Co. - Key news
- Exhibit 141: The Hershey Co. - Key offerings
- Exhibit 142: The Hershey Co. - Segment focus

12.17 The Kraft Heinz Co.
- Exhibit 143: The Kraft Heinz Co. - Overview
- Exhibit 144: The Kraft Heinz Co. - Business segments
- Exhibit 145: The Kraft Heinz Co. - Key offerings
- Exhibit 146: The Kraft Heinz Co. - Segment focus

13 Appendix

13.1 Scope of the report

13.2 Inclusions and exclusions checklist
- Exhibit 147: Inclusions checklist
- Exhibit 148: Exclusions checklist

13.3 Currency conversion rates for US$
- Exhibit 149: Currency conversion rates for US$

13.4 Research methodology
- Exhibit 150: Research methodology
- Exhibit 151: Validation techniques employed for market sizing
- Exhibit 152: Information sources

13.5 List of abbreviations
- Exhibit 153: List of abbreviations

Methodology

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

INFORMATION SOURCES

Primary sources

Manufacturers and suppliers
Channel partners
Industry experts
Strategic decision makers

Secondary sources

Industry journals and periodicals
Government data
Financial reports of key industry players
Historical data
Press releases

DATA ANALYSIS

Data Synthesis

Collation of data
Estimation of key figures
Analysis of derived insights

Data Validation

Triangulation with data models
Reference against proprietary databases
Corroboration with industry experts

REPORT WRITING

Qualitative

Market drivers
Market challenges
Market trends
Five forces analysis

Quantitative

Market size and forecast
Market segmentation
Geographical insights
Competitive landscape

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Key Questions Answered

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What are the latest trends influencing the growth of this market?
What are the variables influencing the market growth in the primary regions?
What are the factors influencing the growth of the parent market?

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