According to the latest report by IMARC Group, titled "Chocolate Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026," the global chocolate market report exhibited moderate growth during 2021-2026. Chocolates refer to consumable food items that are prepared by using roasted and ground cacao seeds that are found in the pods of the Theobroma cacao trees. The chocolate liquor and cocoa butter obtained from the beans are further mixed in varying proportions in order to manufacture dark, milk, white, and couverture chocolates. These edibles are widely available in the market in numerous forms, such as blocks, cubes and molten. They are rich in alkaloids, including phenethylamine, caffeine, theobromine and flavonoids. Consequently, they are commonly used as flavoring ingredients in the preparation of diverse beverages, bakery goods and confectionery products, such as cake, cookies, brownies, pudding, milkshakes, and ice creams.As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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Global Chocolate Market Trends:
The global market is primarily driven by considerable growth in the food and beverages sector. This can be accredited to the inflating disposable income levels of the masses and their shifting dietary preferences, which has contributed to a rise in the consumption of ready-to-eat bakery and confectionery products, wherein chocolate is commonly utilized as an indispensable ingredient. The market is further driven by the increasing awareness regarding the numerous health benefits associated with dark chocolates. These variants comprise soluble fibers and bioactive compounds while being a rich source of antioxidants. As a result, moderate consumption of cocoa-rich chocolates is known to lower blood pressure levels, improve brain functions and minimize the chances of developing cardiac diseases. Supported by the rising sales of chocolates through organized online and offline retail channels, this is expected to provide a thrust to the market growth. Some of the other factors contributing to the market include the growing prominence of sugar- and gluten-free chocolates among health-conscious consumers, the widespread popularity of chocolates as festive gifts and the increasing premiumization of chocolate-based products. On account of the aforementioned factors, the market is expected to grow at a CAGR of around 5% during the forecast period (2021-2026).
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Competitive Landscape with Key players:
The report has also analysed the competitive landscape of the market with some of the key players being.
Arcor
Barry Callebaut
Chocoladefabriken Lindt & Sprüngli AG
Chocolaterie Guylian
Ferrero International
Mars Incorporated
Meiji Co. Ltd.
Mondelez International Inc. (Kraft Foods)
Moonstruck Chocolate Company
Nestlé S.A.
The Hershey Company