Industrial Chocolate Market Analysis Europe, North America, APAC, South America, Middle East and Africa - US, China, Germany, Belgium, France - Size and Forecast 2024-2028

Published: Nov 2023

Pages: 184

SKU: IRTNTR43472

Snapshot

Industrial Chocolate Market Forecast 2024-2028

The Industrial Chocolate Market size is projected to increase by USD 2.85 billion and the market size is estimated to grow at a CAGR (Compound Annual Growth Rate) of 5.08% between 2023 and 2028.

Technological innovations in the supply chain are notably driving the market growth. Recent technological developments in the industry are a major factor driving the growth of the market. Some of the latest technologies are blockchain and traceable cocoa. Logistics is one of the major challenges faced by companies operating in the market. Additionally, blockchain technology tracks information at each checkpoint, from harvesting, packaging, and storing in warehouses to placement in shops and other points of purchase. Information can be recorded on the blockchain, making it available for anyone to track. Thus, the introduction of blockchain in industrial chocolate logistics will improve food traceability and ensure food safety. Therefore, the introduction of such technologies will help manufacturers build strong trust among customers at different levels of the value chain.

Market Overview

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Key Trends

Personalization and mass customization of industrial chocolate is an emerging trend shaping the market growth. The trend of personalization and mass customization in the market has risen in popularity over the last few years. Owing to advances in artificial intelligence (AI) and printing technology, companies such as Barry and Hershey's Chocolate allow the mass personalization of packaged chocolates, baked goods, and ice cream with real chocolate. Barry, in collaboration with FoodJet BV, has introduced a chocolate solution in the market that can be used for printing with a food 2D+ printer. The printer can be connected to a computer to enable the personalization of designs and is capable of printing on food products, such as chocolate, at industrial speed.

However, the company offers a range of chocolate types for printing, which includes family milk, milk couverture, white, gianduja, vermicelli, and chocolate flakes. Hence, personalization and mass customization are expected to provide the market players with added opportunities, which, in turn, is expected to positively impact the growth of the market trends during the forecast period.

Major Challenge

Fluctuations in the prices of cocoa and sugar are a significant challenge hindering market growth. Cocoa beans are the primary ingredients used in the formulation of industrial chocolate, and the other key ingredients include sugar and milk powder. Rapid fluctuations in the prices of cocoa worldwide have hampered the growth of the market over the last two years. In the US, the price of cocoa witnessed an increase of 21% until Q3 2023. Supply constraints, owing to the lack of adequate rainfall in key cacao-growing countries, including West African countries such as Ghana and the Ivory Coast, have been key to fluctuations in cocoa prices during the aforementioned period.

Moreover, with Europe being a key consumer market for sugar, sugar producers in the EU are increasingly adjusting their production capacities to explore new export markets outside Europe. Price fluctuations of ingredients such as cocoa and sugar are likely to remain serious challenges to market growth during the forecast period.

Market Segmentation by End-user

In the market, confectionery is a prominent end-user that is propelling the expansion of the market in focus. The popularity of chocolate-based products, including bars, candies, and filled chocolates, drives up the demand in confectionery. The market in the confectionery industry is dynamic because of innovations, including new flavour profiles, textures, and shapes, which represent a constant evolution to suit shifting customer tastes and preferences. Owing to such factors, the demand is expected to increase from the confectionery end-user segment, which, in turn, will drive the growth market during the forecast period.

Market Segmentation by Application

The market share growth by the milk chocolate segment will be significant during the forecast period. Milk chocolate is made with milk and generally contains 10%-20% cocoa solids and dried milk solids in the form of milk powder. It is one of the most popular and common types of chocolate. The mixing of cocoa solids with milk solids, sugar, and cream during manufacturing gives milk chocolates a smoother and creamier taste than dark chocolates.

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However, increasing health consciousness among people and rising awareness of health problems caused by conditions such as obesity and heart disease have led to slow demand in recent years. Therefore, health-conscious people are trying to reduce the consumption. This has resulted in many companies trying to maintain their share by coming up with innovative new product variants and flavours. Thus, the growth of the milk segment is estimated to be quite moderate and hence drives the moderate growth of the market during the forecast period.

Key Regions

Europe is estimated to contribute 37% to the growth of the global market during the forecast period

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Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Germany, France, and Belgium are among the major markets for industrial chocolate in Europe. Barry and Nestle are among the key companies operating in the market in Europe. Growing consumer awareness about the various health benefits associated with the consumption of chocolate is one of the major factors driving the growth of the market in Europe. As a result, there is an increased demand for an active ingredient in products among various end-user sectors, such as bakery and confectionery. Apart from this, there is an increase in demand as it imparts various health benefits to consumers.

For instance, the consumption of dark chocolate can help improve blood flow and lower blood pressure. Dark chocolate is a rich source of fibre, iron, magnesium, potassium, phosphorus, zinc, and selenium. In 2022, Europe accounted for a significant share of the market, which is still showing positive growth. Such factors are expected to drive the regional market growth during 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 industrial chocolates such as dairy-free milk chocolate, dark chocolate with 1 percent added sugar only, and milk chocolate with 1 percent added sugar only.

The market growth analysis report also includes detailed analyses of the competitive landscape of the market and information about 20 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 global industrial chocolate market, a cornerstone of the food and beverage industry, is continuously evolving to meet consumer demands while addressing responsibility in sourcing and production. Food brands are embracing a paradigm shift towards innovative products that offer a differentiated experience, balancing environmental costs and ethical concerns. Certified products, regulated by legislation, aim to ensure happiness among consumers, with a focus on cacao bean cultivation and chocolate production.

Single-origin cocoa components are sought after by vendors and chocolate producers, catering to health-conscious consumers. Organic and sugar-free chocolates, alongside chocolate-flavored snack bars, offer confectionery products with health properties, rich in antioxidants like flavanols and epicatechin, which combat inflammation and free radical damage. Dark chocolate, particularly with high cacao concentration, shows promise in managing diabetes for both diabetic and non-diabetic adults.

Research and development, fueled by companies like Olam Cocoa, drive technological advances in cocoa butter confectionery products, enhancing solubility and viscosity for end-user industries such as dairy products, yogurts, creamers, and chocolate-flavored offerings like smoothies and breakfast sandwiches.

Segment Overview

The market forecasting report covers market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.

Application Outlook
- Milk
- Dark
- White

End-user Outlook
- Confectionery
- Biscuits and bakery products
- Dairy and desserts
- Ice creams and frozen items
- Cereals and others

Region Outlook
- North America
  - The U.S.
  - Canada
- South America
  - Chile
  - Brazil
  - Argentina
- Europe
  - The U.K.
  - Germany
  - France
  - Rest of Europe
- APAC
  - China
  - India
- Middle East & Africa
  - Saudi Arabia
  - South Africa
  - Rest of the Middle East & Africa

Industrial Chocolate Market Scope
Market Report Coverage	Details
Page number	184
Base year	2023
Historic period	2018-2022
Forecast period	2024-2028
Growth momentum & CAGR	Accelerate at a CAGR of 5.08%
Market Growth 2024-2028	USD 2.85 billion
Market structure	Fragmented
YoY growth 2023-2024(%)	5.04
Regional analysis	Europe, North America, APAC, South America, and Middle East and Africa
Performing market contribution	Europe at 37%
Key countries	US, China, Germany, Belgium, and France
Competitive landscape	Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks
Key companies profiled	Barry Callebaut AG, Bonn Nutrients Pvt. Ltd., Cargill Inc., Cemoi, Chocoladefabriken Lindt and Sprungli AG, Dunkin Brands Group Inc., Ferrero International S.A., Fuji Oil Holdings Inc., General Mills Inc., Guittard Chocolate Co., JI NATURALS LLC, Mars Inc., Mondelez International Inc., NATRA SA, Nestle SA, Parle Products Pvt. Ltd., Puratos Group NV, The Hershey Co., UNIBIC Foods India Pvt. Ltd., and Unilever PLC
Market dynamics	Parent market analysis, 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 the forecast period
Customization purview	If our market growth and forecasting 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 Market Research Report?

CAGR of the market during the forecast period
Detailed information on factors that will drive the growth of the market between 2024 and 2028
Precise estimation of the market size and its contribution to the market in focus to the parent market
Accurate predictions about upcoming trends and changes in consumer behavior
Growth of the market across Europe, North America, APAC, South America, and Middle East and Africa
Our market research and growth report includes a thorough analysis of the market’s competitive landscape and detailed information about companies
Comprehensive analysis of factors that will challenge the growth of market companies

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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 Global Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market by Geography
- Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
- Exhibit 06: Executive Summary – Chart on Market Segmentation by End-user
- 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 2023

3.4 Market outlook: Forecast for 2023-2028
- Exhibit 14: Chart on Global - Market size and forecast 2023-2028 ($ billion)
- Exhibit 15: Data Table on Global - Market size and forecast 2023-2028 ($ billion)
- Exhibit 16: Chart on Global Market: Year-over-year growth 2023-2028 (%)
- Exhibit 17: Data Table on Global Market: Year-over-year growth 2023-2028 (%)

4 Historic Market Size

4.1 Global industrial chocolate market 2018 - 2022
- Exhibit 18: Historic Market Size – Data Table on global industrial chocolate market 2018 - 2022 ($ billion)

4.2 Application Segment Analysis 2018 - 2022
- Exhibit 19: Historic Market Size – Application Segment 2018 - 2022 ($ billion)

4.3 End-user Segment Analysis 2018 - 2022
- Exhibit 20: Historic Market Size – End-user Segment 2018 - 2022 ($ billion)

4.4 Geography Segment Analysis 2018 - 2022
- Exhibit 21: Historic Market Size – Geography Segment 2018 - 2022 ($ billion)

4.5 Country Segment Analysis 2018 - 2022
- Exhibit 22: Historic Market Size – Country Segment 2018 - 2022 ($ billion)

5 Five Forces Analysis

5.1 Five forces summary
- Exhibit 23: Five forces analysis - Comparison between 2023 and 2028

5.2 Bargaining power of buyers
- Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2023 and 2028

5.3 Bargaining power of suppliers
- Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2023 and 2028

5.4 Threat of new entrants
- Exhibit 26: Threat of new entrants – Impact of key factors in 2023 and 2028

5.5 Threat of substitutes
- Exhibit 27: Threat of substitutes – Impact of key factors in 2023 and 2028

5.6 Threat of rivalry
- Exhibit 28: Threat of rivalry – Impact of key factors in 2023 and 2028

5.7 Market condition
- Exhibit 29: Chart on Market condition - Five forces 2023 and 2028

6 Market Segmentation by Application

6.1 Market segments
- Exhibit 30: Chart on Application - Market share 2023-2028 (%)
- Exhibit 31: Data Table on Application - Market share 2023-2028 (%)

6.2 Comparison by Application
- Exhibit 32: Chart on Comparison by Application
- Exhibit 33: Data Table on Comparison by Application

6.3 Milk chocolate - Market size and forecast 2023-2028
- Exhibit 34: Chart on Milk chocolate - Market size and forecast 2023-2028 ($ billion)
- Exhibit 35: Data Table on Milk chocolate - Market size and forecast 2023-2028 ($ billion)
- Exhibit 36: Chart on Milk chocolate - Year-over-year growth 2023-2028 (%)
- Exhibit 37: Data Table on Milk chocolate - Year-over-year growth 2023-2028 (%)

6.4 Dark chocolate - Market size and forecast 2023-2028
- Exhibit 38: Chart on Dark chocolate - Market size and forecast 2023-2028 ($ billion)
- Exhibit 39: Data Table on Dark chocolate - Market size and forecast 2023-2028 ($ billion)
- Exhibit 40: Chart on Dark chocolate - Year-over-year growth 2023-2028 (%)
- Exhibit 41: Data Table on Dark chocolate - Year-over-year growth 2023-2028 (%)

6.5 White chocolate - Market size and forecast 2023-2028
- Exhibit 42: Chart on White chocolate - Market size and forecast 2023-2028 ($ billion)
- Exhibit 43: Data Table on White chocolate - Market size and forecast 2023-2028 ($ billion)
- Exhibit 44: Chart on White chocolate - Year-over-year growth 2023-2028 (%)
- Exhibit 45: Data Table on White chocolate - Year-over-year growth 2023-2028 (%)

6.6 Market opportunity by Application
- Exhibit 46: Market opportunity by Application ($ billion)
- Exhibit 47: Data Table on Market opportunity by Application ($ billion)

7 Market Segmentation by End-user

7.1 Market segments
- Exhibit 48: Chart on End-user - Market share 2023-2028 (%)
- Exhibit 49: Data Table on End-user - Market share 2023-2028 (%)

7.2 Comparison by End-user
- Exhibit 50: Chart on Comparison by End-user
- Exhibit 51: Data Table on Comparison by End-user

7.3 Confectionery - Market size and forecast 2023-2028
- Exhibit 52: Chart on Confectionery - Market size and forecast 2023-2028 ($ billion)
- Exhibit 53: Data Table on Confectionery - Market size and forecast 2023-2028 ($ billion)
- Exhibit 54: Chart on Confectionery - Year-over-year growth 2023-2028 (%)
- Exhibit 55: Data Table on Confectionery - Year-over-year growth 2023-2028 (%)

7.4 Biscuits and bakery products - Market size and forecast 2023-2028
- Exhibit 56: Chart on Biscuits and bakery products - Market size and forecast 2023-2028 ($ billion)
- Exhibit 57: Data Table on Biscuits and bakery products - Market size and forecast 2023-2028 ($ billion)
- Exhibit 58: Chart on Biscuits and bakery products - Year-over-year growth 2023-2028 (%)
- Exhibit 59: Data Table on Biscuits and bakery products - Year-over-year growth 2023-2028 (%)

7.5 Dairy and desserts - Market size and forecast 2023-2028
- Exhibit 60: Chart on Dairy and desserts - Market size and forecast 2023-2028 ($ billion)
- Exhibit 61: Data Table on Dairy and desserts - Market size and forecast 2023-2028 ($ billion)
- Exhibit 62: Chart on Dairy and desserts - Year-over-year growth 2023-2028 (%)
- Exhibit 63: Data Table on Dairy and desserts - Year-over-year growth 2023-2028 (%)

7.6 Ice creams and frozen items - Market size and forecast 2023-2028
- Exhibit 64: Chart on Ice creams and frozen items - Market size and forecast 2023-2028 ($ billion)
- Exhibit 65: Data Table on Ice creams and frozen items - Market size and forecast 2023-2028 ($ billion)
- Exhibit 66: Chart on Ice creams and frozen items - Year-over-year growth 2023-2028 (%)
- Exhibit 67: Data Table on Ice creams and frozen items - Year-over-year growth 2023-2028 (%)

7.7 Cereals and others - Market size and forecast 2023-2028
- Exhibit 68: Chart on Cereals and others - Market size and forecast 2023-2028 ($ billion)
- Exhibit 69: Data Table on Cereals and others - Market size and forecast 2023-2028 ($ billion)
- Exhibit 70: Chart on Cereals and others - Year-over-year growth 2023-2028 (%)
- Exhibit 71: Data Table on Cereals and others - Year-over-year growth 2023-2028 (%)

7.8 Market opportunity by End-user
- Exhibit 72: Market opportunity by End-user ($ billion)
- Exhibit 73: Data Table on Market opportunity by End-user ($ billion)

8 Customer Landscape

8.1 Customer landscape overview
- Exhibit 74: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

9.1 Geographic segmentation
- Exhibit 75: Chart on Market share by geography 2023-2028 (%)
- Exhibit 76: Data Table on Market share by geography 2023-2028 (%)

9.2 Geographic comparison
- Exhibit 77: Chart on Geographic comparison
- Exhibit 78: Data Table on Geographic comparison

9.3 Europe - Market size and forecast 2023-2028
- Exhibit 79: Chart on Europe - Market size and forecast 2023-2028 ($ billion)
- Exhibit 80: Data Table on Europe - Market size and forecast 2023-2028 ($ billion)
- Exhibit 81: Chart on Europe - Year-over-year growth 2023-2028 (%)
- Exhibit 82: Data Table on Europe - Year-over-year growth 2023-2028 (%)

9.4 North America - Market size and forecast 2023-2028
- Exhibit 83: Chart on North America - Market size and forecast 2023-2028 ($ billion)
- Exhibit 84: Data Table on North America - Market size and forecast 2023-2028 ($ billion)
- Exhibit 85: Chart on North America - Year-over-year growth 2023-2028 (%)
- Exhibit 86: Data Table on North America - Year-over-year growth 2023-2028 (%)

9.5 APAC - Market size and forecast 2023-2028
- Exhibit 87: Chart on APAC - Market size and forecast 2023-2028 ($ billion)
- Exhibit 88: Data Table on APAC - Market size and forecast 2023-2028 ($ billion)
- Exhibit 89: Chart on APAC - Year-over-year growth 2023-2028 (%)
- Exhibit 90: Data Table on APAC - Year-over-year growth 2023-2028 (%)

9.6 South America - Market size and forecast 2023-2028
- Exhibit 91: Chart on South America - Market size and forecast 2023-2028 ($ billion)
- Exhibit 92: Data Table on South America - Market size and forecast 2023-2028 ($ billion)
- Exhibit 93: Chart on South America - Year-over-year growth 2023-2028 (%)
- Exhibit 94: Data Table on South America - Year-over-year growth 2023-2028 (%)

9.7 Middle East and Africa - Market size and forecast 2023-2028
- Exhibit 95: Chart on Middle East and Africa - Market size and forecast 2023-2028 ($ billion)
- Exhibit 96: Data Table on Middle East and Africa - Market size and forecast 2023-2028 ($ billion)
- Exhibit 97: Chart on Middle East and Africa - Year-over-year growth 2023-2028 (%)
- Exhibit 98: Data Table on Middle East and Africa - Year-over-year growth 2023-2028 (%)

9.8 US - Market size and forecast 2023-2028
- Exhibit 99: Chart on US - Market size and forecast 2023-2028 ($ billion)
- Exhibit 100: Data Table on US - Market size and forecast 2023-2028 ($ billion)
- Exhibit 101: Chart on US - Year-over-year growth 2023-2028 (%)
- Exhibit 102: Data Table on US - Year-over-year growth 2023-2028 (%)

9.9 Germany - Market size and forecast 2023-2028
- Exhibit 103: Chart on Germany - Market size and forecast 2023-2028 ($ billion)
- Exhibit 104: Data Table on Germany - Market size and forecast 2023-2028 ($ billion)
- Exhibit 105: Chart on Germany - Year-over-year growth 2023-2028 (%)
- Exhibit 106: Data Table on Germany - Year-over-year growth 2023-2028 (%)

9.10 Belgium - Market size and forecast 2023-2028
- Exhibit 107: Chart on Belgium - Market size and forecast 2023-2028 ($ billion)
- Exhibit 108: Data Table on Belgium - Market size and forecast 2023-2028 ($ billion)
- Exhibit 109: Chart on Belgium - Year-over-year growth 2023-2028 (%)
- Exhibit 110: Data Table on Belgium - Year-over-year growth 2023-2028 (%)

9.11 France - Market size and forecast 2023-2028
- Exhibit 111: Chart on France - Market size and forecast 2023-2028 ($ billion)
- Exhibit 112: Data Table on France - Market size and forecast 2023-2028 ($ billion)
- Exhibit 113: Chart on France - Year-over-year growth 2023-2028 (%)
- Exhibit 114: Data Table on France - Year-over-year growth 2023-2028 (%)

9.12 China - Market size and forecast 2023-2028
- Exhibit 115: Chart on China - Market size and forecast 2023-2028 ($ billion)
- Exhibit 116: Data Table on China - Market size and forecast 2023-2028 ($ billion)
- Exhibit 117: Chart on China - Year-over-year growth 2023-2028 (%)
- Exhibit 118: Data Table on China - Year-over-year growth 2023-2028 (%)

9.13 Market opportunity by geography
- Exhibit 119: Market opportunity by geography ($ billion)
- Exhibit 120: Data Tables on Market opportunity by geography ($ billion)

10 Drivers, Challenges, and Trends

10.1 Market drivers

10.2 Market challenges

10.3 Impact of drivers and challenges
- Exhibit 121: Impact of drivers and challenges in 2023 and 2028

10.4 Market trends

11 Vendor Landscape

11.1 Overview

11.2 Vendor landscape
- Exhibit 122: Overview on Criticality of inputs and Factors of differentiation

11.3 Landscape disruption
- Exhibit 123: Overview on factors of disruption

11.4 Industry risks
- Exhibit 124: Impact of key risks on business

12 Vendor Analysis

12.1 Vendors covered
- Exhibit 125: Vendors covered

12.2 Market positioning of vendors
- Exhibit 126: Matrix on vendor position and classification

12.3 Barry Callebaut AG
- Exhibit 127: Barry Callebaut AG - Overview
- Exhibit 128: Barry Callebaut AG - Business segments
- Exhibit 129: Barry Callebaut AG - Key news
- Exhibit 130: Barry Callebaut AG - Key offerings
- Exhibit 131: Barry Callebaut AG - Segment focus

12.4 Cargill Inc.
- Exhibit 132: Cargill Inc. - Overview
- Exhibit 133: Cargill Inc. - Product / Service
- Exhibit 134: Cargill Inc. - Key news
- Exhibit 135: Cargill Inc. - Key offerings

12.5 Cemoi
- Exhibit 136: Cemoi - Overview
- Exhibit 137: Cemoi - Product / Service
- Exhibit 138: Cemoi - Key offerings

12.6 Chocoladefabriken Lindt and Sprungli AG
- Exhibit 139: Chocoladefabriken Lindt and Sprungli AG - Overview
- Exhibit 140: Chocoladefabriken Lindt and Sprungli AG - Business segments
- Exhibit 141: Chocoladefabriken Lindt and Sprungli AG - Key news
- Exhibit 142: Chocoladefabriken Lindt and Sprungli AG - Key offerings
- Exhibit 143: Chocoladefabriken Lindt and Sprungli AG - Segment focus

12.7 Ferrero International S.A.
- Exhibit 144: Ferrero International S.A. - Overview
- Exhibit 145: Ferrero International S.A. - Product / Service
- Exhibit 146: Ferrero International S.A. - Key news
- Exhibit 147: Ferrero International S.A. - Key offerings

12.8 Fuji Oil Holdings Inc.
- Exhibit 148: Fuji Oil Holdings Inc. - Overview
- Exhibit 149: Fuji Oil Holdings Inc. - Business segments
- Exhibit 150: Fuji Oil Holdings Inc. - Key news
- Exhibit 151: Fuji Oil Holdings Inc. - Key offerings
- Exhibit 152: Fuji Oil Holdings Inc. - Segment focus

12.9 General Mills Inc.
- Exhibit 153: General Mills Inc. - Overview
- Exhibit 154: General Mills Inc. - Business segments
- Exhibit 155: General Mills Inc. - Key news
- Exhibit 156: General Mills Inc. - Key offerings
- Exhibit 157: General Mills Inc. - Segment focus

12.10 Guittard Chocolate Co.
- Exhibit 158: Guittard Chocolate Co. - Overview
- Exhibit 159: Guittard Chocolate Co. - Product / Service
- Exhibit 160: Guittard Chocolate Co. - Key offerings

12.11 Mars Inc.
- Exhibit 161: Mars Inc. - Overview
- Exhibit 162: Mars Inc. - Product / Service
- Exhibit 163: Mars Inc. - Key news
- Exhibit 164: Mars Inc. - Key offerings

12.12 Mondelez International Inc.
- Exhibit 165: Mondelez International Inc. - Overview
- Exhibit 166: Mondelez International Inc. - Business segments
- Exhibit 167: Mondelez International Inc. - Key news
- Exhibit 168: Mondelez International Inc. - Key offerings
- Exhibit 169: Mondelez International Inc. - Segment focus

12.13 NATRA SA
- Exhibit 170: NATRA SA - Overview
- Exhibit 171: NATRA SA - Product / Service
- Exhibit 172: NATRA SA - Key offerings

12.14 Nestle SA
- Exhibit 173: Nestle SA - Overview
- Exhibit 174: Nestle SA - Business segments
- Exhibit 175: Nestle SA - Key news
- Exhibit 176: Nestle SA - Key offerings
- Exhibit 177: Nestle SA - Segment focus

12.15 Puratos Group NV
- Exhibit 178: Puratos Group NV - Overview
- Exhibit 179: Puratos Group NV - Product / Service
- Exhibit 180: Puratos Group NV - Key offerings

12.16 The Hershey Co.
- Exhibit 181: The Hershey Co. - Overview
- Exhibit 182: The Hershey Co. - Business segments
- Exhibit 183: The Hershey Co. - Key news
- Exhibit 184: The Hershey Co. - Key offerings
- Exhibit 185: The Hershey Co. - Segment focus

12.17 Unilever PLC
- Exhibit 186: Unilever PLC - Overview
- Exhibit 187: Unilever PLC - Business segments
- Exhibit 188: Unilever PLC - Key news
- Exhibit 189: Unilever PLC - Key offerings
- Exhibit 190: Unilever PLC - Segment focus

13 Appendix

13.1 Scope of the report

13.2 Inclusions and exclusions checklist
- Exhibit 191: Inclusions checklist
- Exhibit 192: Exclusions checklist

13.3 Currency conversion rates for US$
- Exhibit 193: Currency conversion rates for US$

13.4 Research methodology
- Exhibit 194: Research methodology
- Exhibit 195: Validation techniques employed for market sizing
- Exhibit 196: Information sources

13.5 List of abbreviations
- Exhibit 197: 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 variables influencing the market growth in the primary regions?
What are the factors influencing the growth of the parent market?

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