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Premium Chocolate Market by Product and Geography - Forecast and Analysis 2021-2025

  • Published: Jan 2022
  • Pages: 120
  • SKU: IRTNTR72027
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The premium chocolate market share is expected to increase by USD 16.48 billion from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 9.40%.

This premium chocolate market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers premium chocolate market segmentation by product (dark premium chocolate and white and milk premium chocolate) and geography (Europe, North America, APAC, South America, and MEA). The premium chocolate market report also offers information on several market vendors, including CEMOI Group, Champlain Chocolate Co., Chocoladefabriken Lindt & Sprungli AG, Ferrero International SA, Mars Inc., Mondelez International Inc., Nestle SA, Pierre Marcolini Group, The Hershey Co., and Yildiz Holding A.S. among others.

What will the Premium Chocolate Market Size be During the Forecast Period?

Download the Free Report Sample to Unlock the Premium Chocolate Market Size for the Forecast Period and Other Important Statistics

 

Premium Chocolate Market: Key Drivers, Trends, and Challenges

The new product launches is notably driving the premium chocolate market growth, although factors such as the fluctuating price of raw materials may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the premium chocolate industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Premium Chocolate Market Driver

One of the key factors driving the global premium chocolate market growth is the new product launches owing to the increase in the popularity and demand for premium chocolates. Both small and global chocolate players are taking a greater interest in manufacturing premium chocolates and taking strategic initiatives by launching new products in regional as well as international markets for optimum market penetration. For instance, in October 2020, Hershey India Pvt Ltd, a part of The Hershey Co, strengthened its portfolio of Hershey’s premium chocolates with the launch of the distinctive Hershey’s Exotic dark chocolates. The increase in demand for premium chocolates especially in countries such as China and India will further drive the growth of the market in focus during the forecast period.

Key Premium Chocolate Market Trend

Demand for organic, vegan, sugar-free, and gluten-free chocolates is another key factor driving the global premium chocolate market growth. With the growing awareness of the negative effects of synthetic products on health and the environment, most health-conscious and informed consumers have started using organic products. This also applies to the premium chocolate sector. Organic foods are healthy and are becoming popular in the market as consumers are gradually showing increased concern over the quality and origin of the ingredients used in chocolates. With the current changes in the preferences of end-consumers, players like Artisan Confections Company, Lake Champlain Chocolates, Green & Black’s, Sjaak's Organic Chocolates, and others are coming up with more varieties in organic chocolates to gain health-cautious consumers. Moreover, the growing trend of sugar-free products and rising health consciousness among consumers will encourage many key players to come up with a sugar-free chocolate portfolio, which is expected to further support the market growth during the forecast period.

Key Premium Chocolate Market Challenge

One of the key challenges to the global premium chocolate market growth is the fluctuating price of raw materials that includes cocoa beans, milk powder, and sugar, which will increase the price of premium chocolates. Drastic weather conditions, epidemics, and other adverse conditions affect the productivity of crops. In 2020, prices for most raw materials used in the making of premium chocolates, including hazelnuts, milk powder products, and various oils, rose sharply. Moreover, the Living Income Differential (LID), a levy jointly introduced in July 2019 by the Ivory Coast and Ghana (Western Africa’s two leading producers) inevitably increased the prices of cocoa beans. Other factors such as the increase in the price of refined sugar will also limit the production and growth of the market in focus during the forecast period.

This premium chocolate market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Parent Market Analysis

Technavio categorizes the global premium chocolate market as a part of the global packaged foods and meats market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the premium chocolate market during the forecast period.

Who are the Major Premium Chocolate Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • CEMOI Group
  • Champlain Chocolate Co.
  • Chocoladefabriken Lindt & Sprungli AG
  • Ferrero International SA
  • Mars Inc.
  • Mondelez International Inc.
  • Nestle SA
  • Pierre Marcolini Group
  • The Hershey Co.
  • Yildiz Holding A.S.

 

This statistical study of the premium chocolate market encompasses successful business strategies deployed by the key vendors. The premium chocolate market is fragmented and the vendors are deploying growth strategies such as business expansion and product differentiation to compete in the market.

Product Insights and News

  • CEMOI Group - The company offers Cemoi bars, Jacquot chocolate, French heritage, and others under premium chocolate.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The premium chocolate market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Premium Chocolate Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the premium chocolate market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chains is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of the global packaged foods and meats market includes the following core components:

  • Inputs
  • Inbound logistics
  • Primary processing
  • Secondary and tertiary processing
  • Outbound logistics
  • End-customers
  • Marketing and sales
  • Service

The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

 

Which are the Key Regions for Premium Chocolate Market?

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36% of the market’s growth will originate from Europe during the forecast period. Germany, the UK, and Belgium are the key markets for premium chocolate in Europe. Market growth in this region will be faster than the growth of the market in North America.

The significant increase in the per capita consumption of chocolate in Europe and the presence of key vendors such as Ferrero International SA will facilitate the premium chocolate market growth in Europe over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

In 2020, the COVID-19 pandemic had a negative impact on the vendors in the regional premium chocolate market. Severe restrictions were imposed by governments to limit the spread of the virus in many countries in the region, such as Italy, the UK, Germany, France, Belgium in 2020. This included shutting down retail shops selling premium chocolates in these countries. This had a strong impact on sales of premium chocolates in the traditional trade and retail shops of vendors. However, vendors in the market responded to changes in consumer behavior caused by the pandemic with numerous entrepreneurial initiatives such as home deliveries, pick-up services, click and collect services, and the expansion of e-commerce. Such initiatives will meet the consumers’ demand for premium chocolates even during the pandemic, which will help the regional premium chocolate market to grow during the forecast period.

What are the Revenue-generating Product Segments in the Premium Chocolate Market?

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The premium chocolate market share growth by the dark premium chocolate segment will be significant during the forecast period. The rise in demand for dark premium chocolate due to its multiple health benefits will facilitate the growth in this segment. It helps in improving cognitive functions, cardiovascular health, and blood flow as it is rich in fiber, antioxidants, iron, and magnesium.

This report provides an accurate prediction of the contribution of all the segments to the growth of the premium chocolate market size and actionable market insights on post COVID-19 impact on each segment.

 

Premium Chocolate Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 9.40%

Market growth 2021-2025

$ 16.48 billion

Market structure

Fragmented

YoY growth (%)

8.50

Regional analysis

Europe, North America, APAC, South America, and MEA

Performing market contribution

Europe at 36%

Key consumer countries

US, Germany, UK, Belgium, and China

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

CEMOI Group, Champlain Chocolate Co., Chocoladefabriken Lindt & Sprungli AG, Ferrero International SA, Mars Inc., Mondelez International Inc., Nestle SA, Pierre Marcolini Group, The Hershey Co., and Yildiz Holding A.S.

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 forecast period

Customization purview

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What are the Key Data Covered in this Premium Chocolate Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive premium chocolate market growth during the next five years
  • Precise estimation of the premium chocolate market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the premium chocolate industry across Europe, North America, APAC, South America, and MEA
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of premium chocolate market vendors

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Executive Summary

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2020
  • Market outlook: Forecast for 2020 - 2025

Five Forces Analysis

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

Market Segmentation by Product

  • Market segments
  • Comparison by Product
  • Dark premium chocolate - Market size and forecast 2020-2025
  • White and milk premium chocolate - Market size and forecast 2020-2025
  • Market opportunity by Product

Customer landscape

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • Europe - Market size and forecast 2020-2025
  • North America - Market size and forecast 2020-2025
  • APAC - Market size and forecast 2020-2025
  • South America - Market size and forecast 2020-2025
  • MEA - Market size and forecast 2020-2025
  • Key leading countries
  • Market opportunity by geography
  • Market drivers
  • Market challenges
  • Market trends

Vendor Landscape

  • Overview
  • Vendor landscape
  • Landscape disruption

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • CEMOI Group
  • Champlain Chocolate Co.
  • Chocoladefabriken Lindt & Sprungli AG
  • Ferrero International SA
  • Mars Inc.
  • Mondelez International Inc.
  • Nestle SA
  • Pierre Marcolini Group
  • The Hershey Co.
  • Yildiz Holding A.S.

Appendix

  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations

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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The premium chocolate market growth will increase by $16.48 billion during 2020-2025.
The premium chocolate market is expected to grow at a CAGR of 9.40% during 2020-2025.
Technavio has segmented the premium chocolate market by product (Dark premium chocolate and White and milk premium chocolate) and geographic (Europe, North America, APAC, South America, and MEA).
CEMOI Group, Champlain Chocolate Co., Chocoladefabriken Lindt & Sprungli AG, Ferrero International SA, Mars Inc., Mondelez International Inc., Nestle SA, Pierre Marcolini Group, The Hershey Co., Yildiz Holding A.S. are a few of the key vendors in the premium chocolate market.
Europe will register the highest growth rate of 36.23% among the other regions. Therefore, the premium chocolate market in Europe is expected to garner significant business opportunities for the vendors during the forecast period.
The key factors driving the premium chocolate market growth are:
  • New product launches
The premium chocolate market vendors should focus on grabbing business opportunities from the dark premium chocolate segment as it accounted for the largest market share in the base year.
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