Global Chocolate Market was worth US$ 140 Billion in 2021 due to increasing consumption of chocolate

By: RationalStat LLC
WILMINGTON, Del. - Aug. 29, 2023 - PRLog -- The report entitled "Global Chocolate Market" examines the global chocolate market by the type of product, its form applications, pricing, sales channel and the location. A thorough report offers thorough historical and forecast market size along with trend analysis.

Marketing Overview and Dynamic

The market for chocolate is projected to grow by around 6% over the 2022-2028 forecast timeframe. High-end chocolates are a simple luxurious item for people to give to their loved friends and family. Additionally, moderate consumption of chocolate is recommended by many doctors across the globe as it enhances serotonin levels which help to relax the mind and has antidepressant effects. These elements are likely to result in a wide range of potential for the global market for chocolate.

The consumption of chocolates in the form of a food item is predicted to increase demands for chocolates

Additionally, people would prefer to add healthy ingredients to their daily diets rather than taking medicines. Additionally, chocolate is anticipated to grow in sales over the coming years because of its calming, relaxing and joyous effects.

The growth of different chocolate brands within the retail sector is a clear sign of the trend towards high-end chocolate.

For instance, SMOOR, an Indian-origin premium chocolate brand, focuses on incorporating immune-boosting ingredients like pumpkin seeds, turmeric amla and ashwagandha in order to provide a distinct element of distinction. Utilizing indigenous flavors that keep the chocolates authentic to their Indian flavors will aid the company in establishing an industry market.

Global Chocolate Market Analysis: Segmental Overview

According to the type of product chocolates are a major part of the market, as the demand for different chocolates such as dark chocolate, white chocolate, milk chocolate etc. along with others will continue to lead the market for chocolate in the coming years.

Competition Analysis

Some of the prominent players that contribute significantly to the global chocolate are Nestle SA, Barry Callebaut, The Hershey Company, Lindt & Sprungli AG, The Australian Carob Co, Ferrero Group, Mars Incorporated, Meiji Holdings Co Ltd., Arcor, Cadbury (Mondelez International), August Storck KG, Ezaki Glico Co Ltd., Kraft Foods, Moonstruck Chocolatier Co., and Ghirardelli Chocolate Co. among others.

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About RationalStat LLC

RationalStat is an end-to-end US-based market intelligence and consulting company that provides comprehensive market research reports along with customized strategy and consulting studies.  The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store ( annually.
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