Chocolate Market Share, Forecasts 2015 To 2022: Grand View Research, Inc.

Chocolate Market Analysis, Market Size, Application
Analysis, Regional Outlook, Competitive Strategies And
Forecasts, 2015 To 2022
Chocolate market is expected to witness significant growth owing to improving
lifestyles along with changing dietary habits mainly in Asia Pacific. Rapid
urbanization coupled with increasing disposable income of consumers particularly
in emerging markets including China, India, Brazil, South Korea and Singapore is
expected to drive demand over the next seven years. Increasing chocolate
consumption in functional foods on account of high nutritional value and stress
relieving property is expected to augment market growth over the projected period.
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Rising demand for chocolates in applications including confectionery products and
flavored food items is anticipated to stimulate market growth. Rising popularity of
chocolates in alcoholic beverages is further expected to drive its demand over the
next seven years. Europe was one of the largest regional markets owing to well
established chocolate brands coupled with large number of manufacturers in U.K
and Germany. Asia Pacific is expected to show significant growth on account of
rising consumer spending along with introduction of confectionery categories and
new product variants of different tastes in the market. India is expected to drive
demand as a result of high chocolate consumption in festive seasons. However,
increasing production cost on account of volatility in raw materials prices of cocoa
beans is expected to restrain market growth over the next six years.
In addition, harmful ingredients in Brazilian chocolate such as lead and cadmium
which causes brain damage and health problems is further expected to restrict
market growth. Rising demand for dark chocolate owing to health benefits such as
reducing risk of cardiovascular diseases and improving blood flow is expected to
propel market growth over the next six years. Growing demand for new flavors
and varieties in chocolates is expected to propel market growth over the next seven
years. Key market players include Ferrero Group, Mars Inc., Nestle, Mondelez
International, Barry Callebaut, Hershey Foods Corporation, Arcor, Ezaki Glico Co
Ltd, Meiji Co Ltd, Ghirardelli Chocolate Co., Cargill and August Storck KG.
Various innovations in flavors, both sweet and savory by manufacturers are
expected to spur demand for chocolates over the forecast period. Innovations of
new products such as low-calorie chocolates are expected to drive market growth.
Cargill provides wide range of chocolates including Caramel Equilibre, Mocha
Chocolate, Hazelnut Chocolate and Gianduja. The company offers low calorie
products and chocolates that use sugar alternatives, which includes stevia chocolate
or low added sugar chocolate.
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting
company, registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research reports,
and consulting services. To help clients make informed business decisions, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals, materials,
healthcare and energy.
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