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The truffle chocolate market share is expected to increase by USD 1.22 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 4.17%.
This truffle 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 truffle chocolate market segmentation by product (boxed assortments-based truffle chocolate and seasonal-based truffle chocolate) and geography (Europe, North America, APAC, South America, and Middle East and Africa). The truffle chocolate market report also offers information on several market vendors, including AE Haigh Proprietary Ltd, Barry Callebaut AG, Chocolat Mathez, Cowgirl Chocolates, Delysia LLC, Ferrero International, Ganache Chocolate Australia Pty. Ltd., Hauser Chocolates, House of Knipschildt, Champlain Chocolate Co., Le Chocolat LLC, Confiserie Leonidas SA, Lindt and Sprungli AG, Lolli and Pops Inc., MarieBelle, Mondelez International Inc., Neuhaus NV, Purdys Chocolatier, Teuscher Chocolates of Switzerland, The Secret Truffletier, and Yildiz Holding AS among others.
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Based on our research output, there has been a positive impact on the market growth during and post COVID-19 era. The increasing number of new product launches is notably driving the truffle chocolate market growth, although factors such as distribution challenges 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 truffle chocolate industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Truffle Chocolate Market Driver
The increasing number of new product launches is one of the key drivers supporting the truffle chocolate market growth. The rise in the demand for truffle chocolates in various countries has encouraged vendors to continually launch innovative products to expand their customer base. For instance, in July 2018, under the brand Green and Black, Mondelez International Inc. launched two new bars, a truffle variant containing dark chocolate truffle encased in a dark chocolate shell and a praline product featuring a milk chocolate praline with chopped, roasted hazelnut pieces encased in a smooth and dark chocolate shell. Such product launches indicate that vendors are focusing on enhancing truffle chocolate product lines with new flavors and chocolate designs, which is expected to drive the growth of the market during the forecast period.
Key Truffle Chocolate Market Trend
The growing trend of premiumization is one of the key truffle chocolate market trends contributing to the market growth. Primarily, the improving lifestyle of consumers, owing to rising disposable income and growing health consciousness, is driving the demand for premium and luxurious confectionery items. Premiumization strategies enable vendors to differentiate their products in terms of pricing and differentiate their products. Furthermore, with the increase in awareness about health and wellness, consumers are willing to pay extra for low-calorie, low-fat food and beverages, including sugar-free truffle chocolates. Hence, vendors are offering high-priced additional products in the global truffle chocolate market. For instance, premium truffle chocolates are priced 15%-18% more than regular truffle chocolates made of natural sugar (sucrose). Such offerings will boost market growth in the coming years.
Key Truffle Chocolate Market Challenge
Distribution challenges is one of the factors hampering the truffle chocolate market growth. There is an increase in expectations from retailers for manufacturers to come up with innovative merchandising units like movable shelves that can be rolled when fully stocked to reduce the replenishment cost of the store. Retailers want to avoid a decline in revenues resulting from the gaps in inventory by making the order fulfillment rate a key factor in developing a relationship with manufacturers. This means that retailers will not hesitate to go to others if a manufacturer is not able to supply a sufficient amount of goods for promotional initiatives and at peak demand points. Channel shifts by consumers have also forced manufacturers to develop new skills in category management. Such shifts are expected to hamper the market growth in the forecasted period.
This truffle 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 2022-2026.
Technavio categorizes the global truffle chocolate market as a part of the global packaged foods and meats under the global food products segment of the global food, beverage, and tobacco 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 truffle chocolate market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the truffle chocolate market encompasses successful business strategies deployed by the key vendors. The truffle chocolate market is fragmented and the vendors are deploying growth strategies such as price, quality, innovation, service, packaging, brand /image, distribution, and promotion to compete in the market.
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 truffle 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.
Our report provides extensive information on the value chain analysis for the truffle chocolate market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain 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.
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40% of the market’s growth will originate from Europe during the forecast period. The UK, Germany, and France are the key markets for the truffle chocolate market in Europe. Market growth in this region will be slower than the growth of the market in other regions.
An increase in the number of retail stores offering truffle chocolates will facilitate the truffle 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
The market was negatively affected by the COVID-19 pandemic in 2020, as the major economies of the region were severely affected by the disease. However, in Q3 of 2020, various vendors employed new strategies of adopting online mediums for selling truffle chocolates, helping the market to cope with the negative impacts of the pandemic by registering growth owing to increased online sales of truffle chocolates. In addition, lockdown restrictions were lifted in many countries in the region in 2021 due to wide-scale vaccination drives. As a result, the demand for truffle chocolates in Europe is expected to increase during the forecasted period.
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The truffle chocolate market share growth by the boxed assortments-based truffle chocolate segment will be significant during the forecast period. The rising number of organized retailing outlets in regions such as APAC, North America, and Eastern Europe, which offer boxed assortments-based truffle chocolates, and the growing influence of online retailing are the major drivers estimated to positively impact the growth of the segment during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the truffle chocolate market size and actionable market insights on post COVID-19 impact on each segment.
Truffles market - The market share is expected to increase to USD 235.23 million from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 11.59%.
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Truffle Chocolate Market Scope |
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Report Coverage |
Details |
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Page number |
133 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 4.17% |
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Market growth 2022-2026 |
$ 1.22 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
3.59 |
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Regional analysis |
Europe, North America, APAC, South America, and Middle East and Africa |
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Performing market contribution |
Europe at 40% |
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Key consumer countries |
US, Japan, UK, Germany, and France |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
AE Haigh Proprietary Ltd, Barry Callebaut AG, Chocolat Mathez, Cowgirl Chocolates, Delysia LLC, Ferrero International, Ganache Chocolate Australia Pty. Ltd., Hauser Chocolates, House of Knipschildt, Champlain Chocolate Co., Le Chocolat LLC, Confiserie Leonidas SA, Lindt and Sprungli AG, Lolli and Pops Inc., MarieBelle, Mondelez International Inc., Neuhaus NV, Purdys Chocolatier, Teuscher Chocolates of Switzerland, The Secret Truffletier, and Yildiz Holding AS |
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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, and Market condition analysis for the forecast period. |
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Customization purview |
If our 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 report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Product
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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