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Chocolate Market Trends

Report ID: GMI7029
Published Date: Oct 2023
Report Format: PDF

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Chocolate Market Trends

As customers seek higher-quality and distinctive flavor experiences, the chocolate industry is seeing a growing trend toward premium and artisanal chocolate products. Furthermore, there is a growing desire for healthier chocolate options, such as dark chocolate with a greater cocoa content, driven by health-conscious customers seeking less sugar and more nutritional advantages.

Authors: Kunal Ahuja, Himanshu Kabra

Frequently Asked Questions (FAQ) :

The market size of chocolate was worth USD 120.42 billion in 2023 and is set to reach USD 161.85 billion by the end of 2032, owing to its rising adaptability in numerous forms, including bars, truffles, and beverages made with cocoa.

Demand for milk chocolate segment held over USD 68.7 billion in revenue in 2022, driven by higher adoption in multiple dessert and confectionery products to offer sweet and creamy flavor.

The supermarkets and hypermarkets segment is anticipated to grow at 2.9% CAGR from 2023-2032, owing to benefits, such as convenience and extensive product variety.

Europe market size was valued at USD 51.4 billion in 2022, due to ongoing popularity as a beloved treat and important component in wide variety of culinary and confectionery products.