In a Rapidly Changing Economic Scenario, Here’s What to Expect in the Global Industrial Chocolate Market in 2020 & Beyond
The global Industrial Chocolate market is projected to reach US$62 billion by 2025, driven by the robust popularity of affordable, mass-produced confections.
Global Industry Analysts, Inc. (GIA) launches comprehensive analysis of industry segments, market trends, growth drivers, market share, size and demand forecasts on the global Industrial Chocolate market. End-use report segmentation includes Confectionery, Biscuits & Bakery Products, Dairy & Desserts, Ice Creams & Frozen Items, Cereals, and Other End-Uses.
10 June 9:05 A.M., California/Marketwire/ - According to the new market research report, the global Industrial Chocolate market is projected to reach US$62 billion by 2025, driven by the robust popularity of affordable, mass-produced confections. Although industrial chocolates have made chocolates an affordable luxury, the market is expected to decline in the year 2020 before recovering to reach a revised market size and reset to a new normal which going forwards in a post COVID-19 era will be continuously redefined and redesigned. Chocolates have emerged to be one of the most successful foods in human history. Humans and chocolates have a long and serious history that dates back 5000 years to the Mayo-Chinchipe culture. Today, chocolates have evolved from being the food of the rich to the masses, a modest luxury for all to enjoy. Industrialization of chocolates has largely helped achieve this. Economies of scale stemming from large scale procurement of cocoa and automation of the manufacturing process from cacao bean to the final chocolate bar have helped reduce price of chocolates. Unlike boutique chocolates, industrial chocolates are manufactured with quality that is consistent and repeatable. Today, demand for cheap yet high quality chocolate continues to be high with chocolate making giants continuously innovating with portion controlled packaging, sugar-free variants, heart-healthy dark chocolate and fortified chocolates of unbelievable variety.
With a dizzying array of beautifully packaged bars, industrial chocolate giants such as Hershey Company, Nestle S.A., Blommer Chocolate Company & Cargill hold a mind share in the chocolate market despite the rising competition from emerging chocolate categories. Growth in the market is benefiting from the emerging trend of chocoholism supported by the growing body of medical evidence that links chocolate to a variety of health benefits such as source of antioxidants which are vital for cell-protection; cocoa beans are rich in polyphenol and elevates mood; reduced heart disease risk; improved blood flow and lower blood pressure; improves brain function; helps with cognitive decline and memory loss associated with Alzheimer`s disease; protects skin from the sun related damage; reduces inflammation and improves cholesterol levels; reduces fatigue and helps the body produce more endorphins. As this once indulgent treat becomes a functional food, the affordability advantage offered by industrial chocolates will only grow in importance in the coming years. Although specialty chocolates are evolving, the category is still defining itself and poses no immediate threat to the industrial chocolate market. Apart from being expensive, specialty chocolates such as craft, artisanal and small batch suffer from lack of transparency in food labelling.
Key Competitors Covered in the Report
Aalst Chocolate Pte Ltd.
Barry Callebaut AG
The Campco Ltd.
Clasen Quality Chocolate Inc.
Foleys Candies LP
Fuji Oil Co. Ltd.
Guittard Chocolate Company
The Hershey Co.
Lotus Chocolate Co. Ltd.
Mondelez International Inc.
Geographies Analyzed in the Report
Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe)
Asia-Pacific (Australia, India, South Korea, and Rest of Asia-Pacific)
Latin America (Argentina, Brazil, Mexico, and Rest of Latin America)
Middle East (Iran, Israel, Saudi Arabia, United Arab Emirates, and Rest of Middle East)
This latest edition of the research study is conducted and published by Global Industry Analysts, Inc., in close collaboration with senior executives in the industry driving strategy, business development, marketing, sales, product management, technology and operations. All analysis and findings published in the report are based on validated engagements from a total executive pool size of 3353. Among this pool, 604 direct interactions with domain experts were carried out via our proprietary market research platform, MarketGlass. Among the 101 unique participations, a total of 46 validated responses were received as part of this report's primary research outreach program. We are unique in the industry to provide our clients with the validated list executive engagements and the complete project data stack.
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) (www.strategyr.com) is the world's only influencer driven AI powered market research company. Serving more than 41,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for 33 years, offering the widest coverage of topics, geographic markets, competitive brands, and companies profiled.
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Global Industry Analysts, Inc.