Spirulina Chocolates Market by Distribution Channel and Geography - Forecast and Analysis 2020-2024
- Published: Apr 2020
- Pages: 120
- SKU: IRTNTR43154
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The spirulina chocolates market size has the potential to grow by USD 151.32 million during 2020-2024, and the market’s growth momentum will accelerate during the forecast period because of the steady increase in year-over-year growth.
This report provides a detailed analysis of the market by distribution channel (offline distribution and online distribution) and geography (APAC, Europe, MEA, North America, and South America). Also, the report analyzes the market’s competitive landscape. It offers information on several market vendors, including Akal Food, Bio Benjamin Chocolate Factory, Doisy & Dam Ltd., Giddy Yoyo Inc., Karmasukom Energy LLP, Landish Foods, Meraviglie Srlestle SA, The Algae Factory BV, and Vosges Haut-Chocolat Ltd.
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Market Competitive Analysis
The spirulina chocolates market is fragmented with the presence of numerous players at the regional level. With more established distribution networks and branding activities as well as high-end product offerings, major players are expected to continue to benefit from the rising consumer demand for spirulina chocolates products. Consumers across the world have become conscious about the quality of consumable products. Thus, competition in the global spirulina chocolates market is likely to shift from pricing to quality and brand reputation. The large-scale production of high-end spirulina-based chocolates is a lengthy process, which requires an investment of extensive time in the business by vendors. Hence, it becomes difficult for new players to enter the global spirulina chocolates market. Akal Food, Bio Benjamin Chocolate Factory, and Doisy & Dam Ltd. are some of the major market participants. Although the health benefits associated with spirulina products will offer immense growth opportunities, fluctuations in raw material prices will challenge the growth of the 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.
To help clients improve their market position, this spirulina chocolates market forecast report provides a detailed analysis of the market leaders. It offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and provides information on the products offered by various companies. Moreover, this spirulina chocolates market analysis report also includes information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.
This report provides information on the production, sustainability, and prospects of several leading companies, including:
- Akal Food
- Bio Benjamin Chocolate Factory
- Doisy & Dam Ltd.
- Giddy Yoyo, Inc.
- Karmasukom Energy LLP
- Landish Foods
- Meraviglie Srlestle SA
- The Algae Factory BV
- Vosges Haut-Chocolat Ltd.
Spirulina Chocolates Market: Segmentation by Geography
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Europe was the largest spirulina chocolates market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The presence of critical vendors, rising disposable incomes, and awareness about the health benefits will significantly drive spirulina chocolates market growth in this region over the forecast period.
Over 39% of the market’s growth will originate from Europe during the forecast period. Germany, the UK, and France are the key markets for spirulina chocolates in Europe. Market growth in this region will be slower than the growth of the market in APAC and North America.
Spirulina Chocolates Market: Segmentation by Distribution Channel
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The offline distribution segment of the global spirulina chocolates market includes supermarkets and hypermarkets, discount stores, convenience stores, and individual retailers, among others. Independent retailers are mostly located close to residential areas, which is the main reason for their success. The popularity of independent retailers is increasing, and therefore, their number is expected to rise during the forecast period.
The spirulina chocolates market share growth by the offline distribution segment will be slower than the growth of the market by the online distribution segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the spirulina chocolates market size.
Spirulina Chocolates Market: Key Drivers and Trends
The demand for spirulina chocolates is likely to grow during the forecast period, owing to the growing awareness about their health benefits, especially in Europe and the Americas. Spirulina is considered a superfood, owing to its nutrient content. A single tablespoon (7 grams) of dried spirulina powder has 4 grams protein, 11% of the recommended dietary allowance of Vitamin B1 (thiamine), 15% of the recommended dietary allowance of Vitamin B2 (riboflavin), and other components such as copper, iron, magnesium, potassium, manganese, and other micronutrients. Spirulina contains beta-carotene and thus is an excellent antioxidant. Spirulina has anti-inflammatory properties. The chocolate manufacturers are focusing on catering to the changing consumer preference for healthy food and are opting for additive ingredients such as spirulina. These factors are expected to drive the global spirulina chocolates market growth over the forecast period.
- Government support to promote the production and cultivation of spirulina is another key spirulina chocolate market drivers.
- The above factor has increased the production rate of spirulina.
- Vendors across many food and beverage companies are incorporating spirulina in their products, which is one of the vital spirulina chocolates market trends.
- Research institutions across the world are focusing on R&D to invent technology for the low-cost production of spirulina. For instance, EnerGaia Pte. Ltd. has developed a proprietary algae production system that balances the costs of system installation, maintenance, and operation during algal production.
Spirulina Chocolates Market: Key Highlights of the Report for 2020-2024
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will drive spirulina chocolates market growth during the next five years
- Precise estimation of the spirulina chocolates market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the spirulina chocolates 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 spirulina chocolates market vendors
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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.
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
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