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The white chocolate market size is projected to increase by USD 4,060.07 million and the market size is estimated to grow at a CAGR of 3.98% between 2022 and 2027.
This white chocolate market report extensively covers market segmentation by product (white chocolate bars, white chocolate bulk, and white chocolate truffles), distribution Channel (offline and online), and geography (Europe, North America, APAC, South America, and Middle East and Africa).It also includes an in-depth analysis of drivers, trends, and challenges.
The increasing premiumization of chocolates is one of the key factors driving market growth. The global demand for premium chocolates is rising, especially in developing countries like China, India, and Brazil. Vendors such as Mars, Barry Callebaut, and Mondelez International are rising their efforts to improve differentiation, premiumization, and personalization in their white chocolate segments with new premium offerings. Additionally, the rising demand for organic, sugar-free, vegan, and gluten-free chocolates is also driving the growth of the premium chocolate market. Moreover, the demand for limited-edition chocolates plays a crucial role in market growth. Various companies launch a range of premium chocolate varieties during festive seasons. Packaging and shape are the factors considered by companies to attain maximum sales during festive seasons. Thus, the demand for premium chocolates experiences growth which will boost the growth of the market during the forecast period.
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Our researchers analyzed the data with 2022 as the base year, along with the key trends, and challenges. A holistic analysis of drivers, trends, and challenges will help stakeholders in the value chain refine their marketing strategies to gain a competitive advantage.
The cosmetics industry creates an opportunity for manufacturers is the primary trend in the global white chocolate market. The cosmetics industry creates an opportunity for white chocolate manufacturers as it is said to be excellent for skin renewal and hydration. Owing to its skincare advantages, the beauty industry includes white chocolate in its products. The use of white chocolate in personal products is becoming increasingly popular, particularly in the skincare market.
Moreover, cosmetics companies are focusing on using bourbon vanilla and jojoba oil in their products, in addition to white chocolate, to provide organic and natural solutions to customers. For instance, white chocolate body lotion and white chocolate wax have been a trend. The white chocolate body lotion is a premium, luxurious moisturizing lotion with the smell of white chocolate. Thus, such benefits of white chocolate in cosmetics will drive its demand further during the forecast period.
Unstable cocoa prices are the major challenge that affects the growth of the global white chocolate market. The primary component of white chocolate, cocoa butter, has been witnessing fluctuating prices over the past decade. The fluctuating prices of cocoa butter make the cost of chocolate production, including white chocolate production, more volatile and prevent marketers of white chocolate products from estimating their production costs on a yearly basis.
Furthermore, the demand for high-end, handcrafted chocolates with alluring features, including a shiny look, a smooth texture, and melting characteristics, is increasing, which drives the demand for cocoa butter. As white chocolates, especially hand-made ones, are confectionery items that are in high demand in the market, volatility in cocoa butter prices has become a major challenge for the global white chocolate market.
The various types of offline channels include hypermarkets, supermarkets, and grocery and convenience stores. As two of the offline white chocolate distribution channels, organized retail including hypermarkets and supermarkets makes the purchasing process easier for consumers. Factors such as business expansion and an increase in the number of hypermarkets and supermarkets have raised the market penetration of premium chocolates and increased sales. Shopping in hypermarkets and supermarkets is considered advantageous owing to the large number of brands in stock, ample shelf space, and frequent discounts. Thus, the ease of availability of products with a broad mix of merchandise is estimated to fuel the growth of this segment during the forecast period.
The online segment includes the revenue generated from the online sales of white chocolate, either through the websites of vendors or third-party online retailers such as Amazon.com Inc. (Amazon) and Walmart Inc. (Walmart), and online delivery grocery applications, such as Instacart, Cornershop, and Grofers. online retailing is popular because it offers shopping convenience, competitive prices, and a wide range of products. Many providers are focused on offering a variety of white chocolates via online platforms. Selling products through online platforms allows vendors to expand their market reach in regions that do not have offline stores. An increasing focus on the shifting from traditional retail to online retail is expected to be complemented by rising internet penetration across the region to drive the growth of the market during the forecast period.
The market share growth of the white chocolate bars segment will be significant during the forecast period. Product innovation boosts the growth of the global white chocolate bars segment, Major vendors operating in the global white chocolate bars segment are focusing on launching innovative products. For instance, in August 2021, Cadbury announced three new white chocolate delights in the UK, with the White Chocolate Block costing USD 2, and the White Buttons costing USD 1.
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The white chocolate bars segment was valued at USD 11,203.93 million in 2017 and continued to grow until 2021. White chocolate bars are usually rectangular or oblong in shape. They are entirely made from cocoa butter, sugar, and milk or contain filling and flavoring ingredients such as nuts, caramel, nougat, fondant, vanilla, orange, coffee, butterscotch, honey, and mint. Currently, white chocolate bars are offered in two formats, countline, and molded bars. Major vendors operating in the global white chocolate bars segment include Nestle, Mondelez International, Mars, Barry Callebaut, and Arcor.
The white chocolate bulk segment refers to white chocolate mass, which is mainly available in large quantities as couverture blocks, compounds, chips, and wafers, among other formats. White chocolate is mainly used for industrial and commercial purposes in the production of products such as bakery goods, confectionery, cookies, and biscuits. White compound chocolate is creamy-white in color and tastes similar to traditional white chocolate. Key players operating in the white chocolate bulk segment are Chocoladefabriken Lindt and Sprungli AG, Cargill Inc., and Barry Callebaut AG. Therefore, such factors continue to drive the growth of the white chocolate bulk segment during the forecast period.
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Europe is estimated to contribute 44% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Europe is one of the largest chocolate manufacturers in the world. Consumers prefer premium chocolates in most countries in the region. In Europe, the demand for premium chocolates, white chocolates, and organic chocolates has been witnessing high demand. Europe's chocolate-manufacturing industry requires high volumes of cocoa beans; therefore, the region is experiencing substantial growth in the demand for fine flavor cocoa. This is because of the growing health awareness and the high number of obese people in the region. Vendors are concentrating on the innovation of new chocolates with low sugar content. Increasing product innovations and launches are expected to drive the growth of the highly fragmented and competitive chocolate market in Europe during the forecast period.
The white chocolate market in Europe was adversely affected due to the outbreak of the COVID-19 pandemic in 2020. However, the governments in the region took some initiatives to support the food industry. For instance, the Real Bread campaign was initiated by the UK Government to support small and medium enterprise (SME) bakery businesses to provide jobs, keep high streets alive, and aid in money circulation in local economies. Moreover, in 2021, the initiation of large-scale vaccination drives?has lifted the lockdown and will lead to the recovery in demand for white chocolate and the restoration of supply chains, which will positively impact the regional white chocolate market during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The white chocolate market report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
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 growth strategies.
Global White Chocolate Market Customer Landscape
The white chocolate market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
White Chocolate Market Scope |
|
Report Coverage |
Details |
Page number |
176 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 3.98% |
Market growth 2023-2027 |
USD 4,060.07 million |
Market structure |
USD Fragmented |
YoY growth 2022-2023(%) |
3.32 |
Regional analysis |
Europe, North America, APAC, South America, and Middle East and Africa |
Performing market contribution |
Europe at 44% |
Key countries |
US, Canada, China, Germany, and France |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Alfred Ritter GmbH and Co. KG, Barry Callebaut AG, Cargill Inc., Chocoladefabriken Lindt and Sprungli AG, Darrell Lea Confectionery Co. Pty Ltd., Ezaki Glico Co. Ltd., Ferrero International S.A., Fuji Oil Holdings Inc., ITC Ltd., Lotte Corp., Ludwig Weinrich GmbH and Co. KG, MarieBelle, Mars Inc., Molinos Rio de la Plata SA, Mondelez International Inc., Nestle SA, Nugali Chocolates, Strauss Group Ltd., The Hershey Co., and Unilever PLC |
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. |
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. |
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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 Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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