Chocolate Market, By Type (Dark Chocolate, Milk Chocolate, and White Chocolate), By Category (Everyday Chocolate, Premium Chocolate, and Seasonal Chocolate), By Sales Channel (Supermarkets and Hypermarkets, Independent Retailers, and Convenience Stores), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2034

Chocolate Market was valued at US$ 126.7 Billion in 2024 and is projected to grow at a CAGR of 11.50% to reach US$ 341.3 Billion by 2034.

Chocolate Market encompasses the production, distribution, and consumption of chocolate and chocolate-based products. Chocolate is a popular and widely consumed confectionery item globally, made from cocoa beans, sugar, and often other ingredients such as milk and nuts. It is available in various forms, including bars, truffles, pralines, and other confectionery items.

Dividing this target market into segments:

Chocolate Market is segmented based on Type, Category, Sales Channel and Region.

Type Insight

On the basis of Type, the target market is segmented into Dark Chocolate, Milk Chocolate, and White Chocolate.

Category Insight

On the basis of Category, the target market is segmented into Everyday Chocolate, Premium Chocolate, and Seasonal Chocolate.

Sales Channel Insight

On the basis of Sales Channel, the target market is segmented into Supermarkets and Hypermarkets, Independent Retailers, and Convenience Stores.

Regional Insights:

On region the target market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

North America market is estimated to witness a significantly high revenue share over the forecast period due to rising investment and funding.

o   High per capita chocolate consumption.

o   Demand for premium and artisanal chocolates.

o   Growing interest in dark chocolate and health-conscious options.

o   Seasonal trends influencing sales during holidays.

Asia Pacific market is estimated to witness a fastest revenue share over the forecast period.

o   Increasing middle-class population and rising disposable income.

o   Adoption of Western lifestyles and preferences.

o   Growing awareness of premium and imported chocolate brands.

o   Seasonal gifting traditions boosting chocolate sales.

Report Scope:

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2024 to 2034.

The key players operating the Chocolate Market includes, Nestle SA, Mars Inc., Cadbury, Moonstruck Chocolatier Co., Ghirardelli Chocolate Co., Ferrero Group, Hershey Foods Corp., Barry Callebaut, Amul (GCMMF), and Mondelez International, Inc.

Recent Development:

The New Launched Product News

•  In February 2023, Cadbury launches first range of non-HFSS chocolate with four new products under Cadbury Dairy Milk Fruitier & Nuttier. The Cadbury Dairy Milk Fruitier and Nuttier Trail Mix is a blend of nuts, fruits, and Cadbury chocolate. The nuts include roasted almonds, hazelnuts, cranberries, raisins, and sultanas. The Cadbury chocolate buttons are coated in cocoa powder. On the other hand, a layer of Cadbury Dairy Milk covers a mixture of fruits, crispies, chocolate, and crunchy nuts in the Cadbury Dairy Milk Fruitier and Nuttier Bars.
• In April 2023, the initial product portfolio from Masqa, a high-end direct-to-consumer brand, introduced a variety of couverture chocolate bars, barks, and pebbles with creative flavors and exquisite culinary expertise, all available in rich and luscious flavors. The best culinary artisans handcraft Masqa's line of chocolate goods, which all offer an extraordinary experience and a passion for all things festive. Some of the traditional flavors found in milk chocolate bars like Classic Smooth and Chewy Crunch and dark chocolate bars like Dark Divine and Nutty Delight are among Masqa's chocolate product offerings. It also gives a unique take on these traditional chocolates with flavors like pink Himalayan salt, rose, and chilly.