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Milk Chocolate Market by Type and Geography - Global Forecast and Analysis 2019-2023

  • Published: May 2019
  • Pages: 116
  • SKU: IRTNTR31418
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The global milk chocolate market has the potential to grow by USD 16.38 billion during 2019-2023. The growth momentum will accelerate throughout the forecast period, and the market will grow at a CAGR of almost 5%.

Rising demand for low-calorie milk chocolate from health-conscious consumers and increasing vendor focus on temperature tolerant milk chocolates are some of the major factors driving growth. The US, Germany, and the UK are currently the major markets for milk chocolates.

Milk Chocolate Market Report - Key Insights

Milk-Chocolate-Market-Overview

Scope of the Report

The report provides a detailed analysis of the market by type and geography. Also, the report analyzes the market’s competitive landscape and offers information on several market vendors.

Milk-Chocolate-Market-Report-Scope

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Market Segmentation

Milk Chocolate Market by Type

  • Bar milk chocolate
  • Bite-size milk chocolate

Milk Chocolate Market by Region

  • APAC
  • Europe
  • MEA
  • North America
  • South America

Milk-Chocolate-Market-Report

Market Competitive Analysis

The milk chocolate market is fragmented, and the degree of fragmentation will remain the same during the forecast period. Consumers are increasing their preference for flavored milk chocolates in both commercial brands and crafted brands. This is encouraging vendors to introduce milk chocolates with added ingredients such as nuts, fruits, flavors, and textures to increase their revenue. Chocoladefabriken Lindt & Sprüngli AG, Mars Inc., and Mondelēz International Inc. are some of the major market participants. Though the accelerating growth momentum will offer immense growth opportunities, the competition from dark chocolate varieties will challenge the growth of market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The report provides information on the production, sustainability, and prospects of several companies, including:

  • Chocoladefabriken Lindt & Sprüngli AG
  • Mars Inc.
  • Mondelēz International Inc.
  • Nestlé SA
  • The Hershey Co.

Milk Chocolate Market: Key Drivers and Trends

Chocolates and other confectioneries have a lot of sugar content which could lead to obesity and weight gain. Milkfat accounts for nearly half of the total calories in milk chocolates. This is driving many consumers to refrain from such products. Many chocolate manufacturers are investing in introducing diverse and innovative milk chocolate products for such diet-conscious consumers. For instance, Cadbury launched a low-sugar dairy milk bar chocolate last year to target health-conscious consumers. As consumers are shifting toward the consumption of low-calorie milk chocolates, manufacturers are increasingly launching different varieties of low-sugar milk chocolates. This is expected to fuel the growth of the global milk chocolate market size during the forecast period.

  • Milk chocolate market trends such as the rising focus on temperature tolerant milk chocolates will also influence market growth.
  • Milk chocolates melt easily at room temperatures because of the presence of cocoa butter. This is inducing consumers to refrain from consuming milk chocolates.
  • Global chocolate brands are working on developing heat-resistant milk chocolate varieties that can sustain hot and humid climatic regions.
  • For instance, Hershey developed heat resistant milk chocolates that are free from additives
  • Such developments will benefit mass production of milk chocolates in hot climates, especially in emerging economies where high investments are made in supply chains.
  • During 2019-2023, the market will register a CAGR of almost 5%.

Milk Chocolate Market: Segmentation by Region

Milk-Chocolate-Market-Share-by-Region

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Countries such as Switzerland, Austria, Germany, Ireland, the UK, Estonia, Sweden, and Belgium are some of the major consumers of milk chocolate in Europe. Many regional and global players are making significant investments in the European market to expand their market shares.

During the forecast period, nearly 47% of the overall market growth will originate from Europe. However, market growth in the region will be slower than the growth of the market in APAC and South America.

Milk Chocolate Market: Segmentation by Type

Milk-Chocolate-Market-Share-by-Type

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Vendors in the market are focusing on introducing limited edition bar chocolates with added ingredients or a new look. Several vendors are introducing premium milk chocolate bars in developing countries because of consumer inclination toward global brands.

As a result, the milk chocolate market size will steadily increase during the forecast period. However, market growth in bar milk chocolate segment will be slower than the growth of the market in bite-size milk chocolate segment.

Milk Chocolate Market: Key Highlights of the Report

  • CAGR of the market during the forecast period 2019-2023
  • Detailed information on factors that will accelerate the growth of the market during the next five years
  • Precise estimation of the global milk chocolate market size and its contribution to the parent market
  • Accurate milk chocolate market forecast on upcoming trends and changes in consumer behavior
  • The growth of the milk chocolate industry across APAC, Europe, MEA, North America, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of milk chocolate market companies

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PART 01: EXECUTIVE SUMMARY

PART 02: SCOPE OF THE REPORT

  • 2.1 Preface
  • 2.2 Preface
  • 2.3 Currency conversion rates for US$

PART 03: MARKET LANDSCAPE

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

PART 04: MARKET SIZING

  • Market definition
  • Market sizing 2018
  • Market size and forecast 2018-2023

PART 05: FIVE FORCES ANALYSIS

  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

PART 06: MARKET SEGMENTATION BY TYPE

  • Market segmentation by type
  • Comparison by type
  • Bar milk chocolate - Market size and forecast 2018-2023
  • Bite-size milk chocolate - Market size and forecast 2018-2023
  • Market opportunity by type

PART 07: CUSTOMER LANDSCAPE

PART 08: GEOGRAPHIC LANDSCAPE

  • Geographic segmentation
  • Geographic comparison
  • Europe - Market size and forecast 2018-2023
  • North America - Market size and forecast 2018-2023
  • APAC - Market size and forecast 2018-2023
  • South America - Market size and forecast 2018-2023
  • MEA - Market size and forecast 2018-2023
  • Key leading countries
  • Market opportunity

PART 09: DECISION FRAMEWORK

PART 10: DRIVERS AND CHALLENGES

  • Market drivers
  • Market challenges

PART 11: MARKET TRENDS

  • Rise in flavors in milk chocolates
  • Introduction of small-scale startups
  • Focus toward temperature tolerant milk chocolates

PART 12: VENDOR LANDSCAPE

  • Overview
  • Landscape disruption
  • Competitive scenario

PART 13: VENDOR ANALYSIS

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Chocoladefabriken Lindt & Sprüngli AG
  • Mars Inc.
  • Mondelēz International Inc.
  • Nestlé SA
  • The Hershey Co.

PART 14: APPENDIX

  • Research methodology
  • List of abbreviations
  • Definition of market positioning of vendors

PART 15: EXPLORE TECHNAVIO

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.

TechnavioINFORMATION 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
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TechnavioDATA 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
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TechnavioREPORT 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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