Global Chocolate Confectionery Market, By Product (Boxed, Countlines, Molded Bars, Seasonal Chocolates, Straightlines, and Others), By Type (Milk, Dark, and White), – By Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa) – Market Trends, Analysis, and Forecast Till 2034

Chocolate confectionery market size was valued at USD 196.6 billion in 2024 and is expected to reach USD 353.65 billion by 2034 at growth rate (CAGR) of 6.7% from 2024 to 2034

Confectionery, also called sweets or candy, is sweet food. Consumer habits, tastes, and preferences are constantly evolving. This has led to innovation in the field of confectionery that drives the market growth. Manufacturers are increasing their product range by including functional ingredients, organic herbal fillings, tropical fruit, and nut-based & exotic flavors in product formulations to meet changing consumer demands. Brands are constantly establishing unique engaging techniques to seek consumer attention as confectionery products are significantly purchased as a result of impulse buying. These factors have cumulatively enabled to drive the market for confectionery products. The declining price of cocoa beans which is a key raw material in the manufacture of chocolate confectionery items is anticipated to have a favorable impact on market growth over the forecast period.

Impact of COVID19 Pandemic on Market

The outbreak of COVID-19 has caused a severe impact on the confectionery market. The stringent rules and lockdown during the course of 2020 have led to decrease in the confectionery business, which caused differential impact on raw material supply (agricultural produce, food ingredients, and intermediate food products), trade & logistics, demand-supply volatility, uncertain consumer demand, and affected the workforce at industrial level. One of the major factors that affected the confectionery industry during the lockdown was sales decline as a result of reduced gifting and impulse buying among consumers across the globe.

Rising the emergence of on-the-go snacks assure the growth of global confectionary market

Innovations in the market in terms of flavor and nutritional content are driving the market growth. Global confectionery manufacturers are focusing on the development of confectionery products with flavors such as coffee, fruits, cinnamon, and different ingredients. Recent approvals of factor concentrate by regulatory bodies, favorable government initiatives and mandates, and rising adoption of prophylaxis treatment are the key factors that are driving the market growth. The Chocolate Confectionary market growth is anticipated to increase due to favorable impact of advertising. Chocolate confectionery manufacturing companies conduct several marketing & promotional activities to increase the outreach of their products amongst their targeted end user segments. In addition, appealing packaging of products, innovative branding activities and promotional events increase the demand for chocolates amongst consumers. Gift packages with chocolates, products targeting holiday and festival seasons, “healthy snack sized” products are very popular amongst parents and children who constitute a major end user segment.

However, the rising consciousness among consumers towards sugar intake is the primary factor hindering the growth of the confectionery market. Sugar present in confectionery products is considered as a leading cause for diseases such as Obesity and Diabetes. 

Global Chocolate Confectionery Market, By Product

The global chocolate confectionary market is segmented based on the product, type and region. Base on the product, the global market is segmented into Boxed, Countlines, Molded Bars, Seasonal Chocolates, Straightlines, and Others. Countlines dominated the global chocolate confectionery market in 2019, as it is an easy snacking option that can be eaten on-the-go.

On the basis of type, the target market is segmented into milk, dark, and white. Dark Type constitutes the highest growth. Dark chocolate is considered as a healthy snack owing to its nutrient content and its potential in lowering the risk of heart disease. Epidemiologists across the globe are suggesting consumption of dark and milk chocolate for heart health with clinically proven and study based facts.

Regional Insights

According to the region, market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Europe accounts for a major share in the confectionery market with predominance in the chocolate confectionery segment. However, the Asia-Pacific region is expected to witness significant CAGR during the confectionery market forecast period as a result of growing disposable income, increasing population, and new brand launches from established players.  

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.  For the purpose of this study, has segmented the global chocolate confectionary market report based on product, type and region.

Global Chocolate Confectionery Market, By Product

• Boxed
• Countlines
• Molded Bars
• Seasonal Chocolates
• Straightlines
• Others

Global Chocolate Confectionery Market, By Type

• Milk
• Dark
• White

Global Chocolate Confectionery Market, By Region

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Russia
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • Israel
  • South Africa
  • Rest of Middle East & Africa

The key players operating in the global confectionery market include Mars, Incorporated, Mondelez International, Inc., Nestlé S.A., Ferrero Group, Meiji Co., Ltd., The Hershey Company, Chocoladefabriken Lindt & Sprüngli AG, Ezaki Glico Co., Ltd., Haribo GmbH & Co. K.G., and Pladis.

Recent news:

• In May 2023, Ferrero USA, the famous Italian confectionery brand, announced that Kinder Chocolate will be available for the first time in the United States, starting in August 2023.
• In September 2022, Ferrero launched new Rocher Premium chocolate bars, available in four different flavors: Whole Milk Hazelnut, 55% Dark Hazelnut, White Hazelnut and Hazelnut Almond.
• In July 2021, Barry Callebaut announced the acquisition of European Chocolate Company (ECC), a privately held B2B specialty chocolate manufacturer headquartered in Belgium.

• Mars
• Incorporated
• Mondelez International Inc.
• Nestlé S.A.
• Ferrero Group
• Meiji Co. Ltd.
• The Hershey Company
• Chocoladefabriken Lindt & Sprüngli AG
• Ezaki Glico Co. Ltd.
• Haribo GmbH & Co. K.G.
• Pladis.