Enjoy complimentary customisation on priority with our Enterprise License!
The seasonal chocolates market size is forecast to increase by USD 9.30 billion at a CAGR of 5.89% between 2023 and 2028. The seasonal chocolate market experiences a significant surge during festive occasions, driven by the high demand for organic and vegan options. Consumers are increasingly conscious of their health and ethical choices, leading to a growing preference for chocolates made with locally sourced and seasonal ingredients. This trend reflects a broader shift towards sustainable and ethically produced food products. Organic and vegan seasonal chocolates offer a unique and desirable experience for consumers, who appreciate the rich flavors and textures that come from using fresh, high-quality ingredients. As a result, the seasonal chocolate market is poised for continued growth, with innovations in flavor profiles, packaging, and production methods expected to further capture consumer interest.
To learn more about this report, Request Free Sample
The market thrives during holidays such as Father’s Day, Mother’s Day, Halloween, Easter, and Diwali, appealing to both kids and adults alike. With variants like dark chocolate, white chocolate, milk chocolate, and mixed chocolate, consumers indulge in a variety of flavors. Rich in minerals like iron, magnesium, and copper, as well as flavanols, zinc, and phosphorus, chocolates offer numerous health benefits for the heart. Gifting chocolates during the winter season is a common practice, with ingredients like cocoa butter, sugar, and vanilla flavorings enhancing the taste. Made from ingredients such as whole eggs, cream cheese, and cocoa beans, chocolates are packed with antioxidants and enjoyed by many worldwide. Our market growth analysis report analyzed the market growth and forecasting data with 2023 as the base year, along with the key trends and challenges. A holistic analysis of market growth and trends, drivers, and challenges will help stakeholders in the value chain refine their marketing strategies to gain a competitive advantage.
The manufacturers pushing seasonal chocolates dedicated to holidays and festivals are major drivers impacting the market growth. The popularity is increasing at a fast pace, and thus, players are capitalizing on holiday consumerism for special day celebrations. For instance, in Japan, White Day was created when men were encouraged to buy white chocolate for women. Players like Lindt and Sprungli, and Champlain Chocolate Co. are selling these specifically designed for special days like Mother's Day and Father's Day.
Players like Godiva Chocolatier Inc., Gayle's Chocolates, Zoe's Chocolate, and others have product lines dedicated to Thanksgiving Day, which is popular in Western regions like North America and Europe. These special days increase the overall sales as they are an easy gifting option. Therefore, manufacturers pushing the sales during holidays and festivals is expected to drive the growth of the seasonal chocolate market during the forecast period.
Personalized seasonal chocolates are one of the major trends influencing market growth. Festivals (like Easter, Valentine's Day, and Diwali) and special days (like Mother's Day, Father's Day, and Thanksgiving) are occasions when people want to make their loved ones feel special. As the trend for personalization is popular, consumers often opt for personalized gifts on such occasions. They are becoming common among consumers. Thus, players like Rebell Wrap, Beau-coup Favors, BabyGrams, Chocablock Chocolates, and My M and M's offer personalized seasonal chocolates.
Consumers usually opt for these to add their creative touch. It is expected that the trend for personalized seasonal chocolates is going to increase during the forecast period, which will further increase the popularity and sales of the global seasonal chocolate market during the forecast period.
Product recalls are one of the major challenges impeding the market growth. Product recalls hamper market growth by tainting a company's reputation, lowering consumer trust and loyalty, and causing financial and operational burdens on the company. Products are recalled if they have the potential to cause health hazards, contain contaminants, contain allergens not mentioned on labels, and others. With people becoming increasingly health conscious, product recalls from companies due to factors such as contamination will erode the trust of consumers in the brand, leading to low loyalty and a shift to substitutes.
Recently, one of the popular seasonal chocolate players, Cadbury Dairy Milk, recalled its products. Thus, product recalls reduce a company's goodwill and increase consumers' propensity toward other brands. This results in decreasing profits and sales, thereby hindering the growth of the market.
The market share growth by the dark seasonal chocolate segment will be significant during the forecast period. Dark chocolates are considered a good gifting option among consumers, further prompting the major players to increase such products in their portfolios in seasonal chocolates. Seasonal chocolates with mint, wasabi, and whole grapes flavor, soaked and surrounded by rum, enhanced with naturally sweet strawberry pieces and passionfruit/lychee, are becoming popular among consumers, which will increase the market growth.
For a detailed summary on the market segments, Request Sample Report
The dark seasonal chocolate segment was valued at USD 13.85 billion in 2018. Dark chocolate contains 50%-60% cocoa and less milk compared with milk chocolate or no milk at all. The Cadbury Bournville is the most common dark chocolate range in India. Ingredients are sugar, cocoa Solids (40%), cocoa Butter (10%), milk solids, emulsifiers (442, 476), and lactose. The claim that consuming dark chocolate has many health benefits is driving sales in the market. Chocolates are also rich in fiber, antioxidants, iron, and magnesium.
The cocoa flavanols present in dark chocolate are believed to help improve cardiovascular health. It can help in improving cognitive functions and blood flow and is less detrimental to teeth than other forms of chocolate. So, with these positive attributes of dark chocolate, consumers are more inclined toward this category even while buying seasonal chocolates. Thus, the demand for dark seasonal chocolate is expected to increase in the next five years and will contribute significantly to the overall market.
Get a glance at the market share of various regions View PDF Sample
Europe is estimated to contribute 33% to the growth of the global market research and growth during the forecast period. Technavio's analysts have provided extensive insight into the market forecasting, detailing the regional trends and drivers influencing the market's trajectory throughout the forecast period.
Europe is one of the largest chocolate manufacturers in the world. Western Europe has the highest per capita consumption of chocolate in Europe. Consumers are more inclined toward these owing to their popularity as gift items during festive and special occasions. Moreover, the presence of major vendors such as Chocoladefabriken Lindt and Sprungli AG, Ferrero International S.A., Nestle SA, and Mondelez International Inc. will drive the growth of the market in the region during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, which forecasts to enhance their presence in the market report.
The market growth and forecasting report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:
The market analysis and report of 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.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth and trends strategies.
Customer Landscape
The market research and growth report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
South Korea Chocolate Market: South Korea Chocolate Market by Product, Distribution Channel, and Product Type - Forecast and Analysis
Premium Chocolate Market: Premium Chocolate Market Analysis Europe, North America, APAC, South America, Middle East and Africa - US, China, Germany, UK, Belgium - Size and Forecast
US Confectionery Market: US Confectionery Market by Distribution Channel, Product, and Type - Forecast and Analysis
The market encompasses the specialty chocolate industry, with highlights during occasions like Halloween, Christmas, Easter, and New Year. Through ecommerce platforms, customers gain access to a wide range of chocolates featuring unique flavors such as pumpkin spice, salted caramel, and gingerbread, catering to preferences for low sugar and gluten-free options. The tradition of gift giving is celebrated with seasonal favorites like Easter eggs and Christmas candy, often presented in sustainable packaging. While raw material prices fluctuate in the cocoa industry, chocolates remain a staple during festive seasons, offering indulgence with considerations for sugar and fat content and calories. Independent retailers excel in offering artisanal chocolates, often showcased at chocolate festivals, shaping the market's regional outlook with their unique offerings.
Market Scope |
|
Report Coverage |
Details |
Page number |
166 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.89% |
Market growth 2024-2028 |
USD 9.30 billion |
Market structure |
USD Fragmented |
YoY growth 2023-2024(%) |
5.47 |
Regional analysis |
Europe, North America, APAC, South America, and Middle East and Africa |
Performing market contribution |
Europe at 33% |
Key countries |
US, UK, France, Canada, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Blue Frog Chocolates, Cemoi, Champlain Chocolate Co., Chocoladefabriken Lindt and Sprungli AG, Ferrero, Gayles Chocolates, Gilbert Chocolates Inc., HAIGHS CHOCOLATES, Hotel Chocolat, Lotte Corp., Marks and Spencer Group plc, Mars Inc., Meiji Holdings Co. Ltd., Mondelez International Inc., Nestle SA, Phillips Candy, Purdys Chocolatier, Savencia SA, The Hershey Co., and Yildiz Holding AS |
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 market forecast period |
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
Get the report (PDF) sent to your email within minutes.
Get lifetime access to our
Technavio Insights
Quick Report Overview:
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.