$ 41.15 Billion growth expected in Global Chocolate Market 2020-2024 | Technavio

NEW YORK, June 22, 2021 /PRNewswire/ — The chocolate market is expected to grow by USD 41.15 billion during 2020-2024, according…

NEW YORK, June 22, 2021 /PRNewswire/ — The chocolate market is expected to grow by USD 41.15 billion during 2020-2024, according to Technavio. The chocolate market is driven by the increasing premiumization of chocolates. In addition, other factors such as new product launches are expected to trigger the chocolate market toward witnessing a CAGR of over 5% during the forecast period.

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The continuing spread of the coronavirus pandemic has compelled organizations across the globe to gradually flatten their recessionary curve by leveraging technology. Many businesses are going through response, recovery, and renewal phases. Building business resilience and enabling agility will aid businesses to move forward in their journey out of the COVID-19 crisis towards the Next Normal.

Key Considerations for Market Forecast:

  • Impact of lockdowns, supply chain disruptions, demand destruction, and change in customer behavior
  • Optimistic, probable, and pessimistic scenarios for all markets as the impact of pandemic unfolds
  • Pre- as well as post-COVID-19 market estimates
  • Quarterly impact analysis and updates on market estimates

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Major Five Chocolate Market Participants:

Arcor Group: The company provides different varieties and flavors of chocolate products under various brands such as Arcor, Cofler, and Tofi.

Barry Callebaut AG: The company provides different varieties and flavors of chocolate products such as ruby chocolate, dark chocolate, milk chocolate, and caramel doré chocolate.

Nestlé Group: The company provides different varieties and flavors of chocolate products under various brands such as KitKat, Aero, Cailler, Milkybar, and others.

The Hershey Co.: The company provides different varieties and flavors of chocolates such as HUGS Candy, HERSHEYS Milk Chocolate Bar, HERSHEYS Cookies n Creme Bars, HERSHEY SYMPHONY Milk Chocolate Extra Large Bars, and others.

Mondelez International Inc.: The company provides different varieties and flavors of chocolate products under various brands such as Cadbury, Toblerone, Alpen Gold, Marabou, and others.

Chocolate Market 2020-2024: Segmentation

Chocolate market is segmented as below:

  • Product
    • Milk Chocolate
    • Dark Chocolate
    • White Chocolate
  • Geographic Landscape
    • APAC
    • Europe
    • MEA
    • North America
    • South America

Related Reports on Consumer Staples Include:

Global Truffle Chocolate Market – Global truffle chocolate market is segmented by product (boxed assortments-based truffle chocolate and seasonal-based truffle chocolate) and geography (APAC, Europe, MEA, North America, and South America).

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Global Cocoa Market – Global cocoa market is segmented by product (cocoa liquor, cocoa butter, and cocoa powder), application (confectionery, food and beverage, and others), and geography (Europe, MEA, APAC, North America, and South America).

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  • Vendor classification
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Report: www.technavio.com/report/chocolate-market-industry-analysis

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