Chocolate Market: Type (Milk/White Chocolate and Dark Chocolate), Distribution Channel (Supermarkets/ Hypermarkets, Specialist Retailers, Convenience Stores, Vending Machines, Online Channel, Variety Stores, and Others), and Geography  

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Chocolate Market size was estimated to be valued at USD 140.4 billion in 2023 and is poised to grow at a significant CAGR of 7.2% from 2024-2030. Chocolate is a food product made from roasted and ground cacao pods, that is available as a liquid, solid or paste, on its own or as a flavoring agent in others. Dark chocolate is expected to have a considerable market share in the chocolate business based on product type. This increase can be due to a growing understanding of the health benefits of dark chocolates, such as a lower risk of cardiovascular disease, lower cholesterol, and lower blood pressure, and others. Dark chocolate also contains a lot of cocoa, which is good for preventing aging and disorders like cardiovascular disease.

Furthermore, studies show that eating chocolate might help to relax. Moreover, players are focusing on product launches to maintain growth in the market. For instance, In January 2022, Hershey launched its KIT KAT, with two different flavor, which were "Duos Strawberry" and ' Duos Dark Chocolate". Rapid growth in population, change in lifestyle, development of newer products by the market players, increase in awareness about the health benefits with dark chocolates, and wide distribution network and e-commerce channels are anticipated to propel the growth of the chocolate market over the forecast years.

Chocolate Market Key Developments:

  • In September 2021, Ferrero pre-launched the new Ferrero Rocher Tablets into the travel-retail channel in partnership with Lagardre. The new product introduces Ferrero into the chocolate tablet category, available in three flavors: milk, dark 55% cocoa, and white.
  • In January 2021, Mars expanded its vegan range with two brand new chocolate bars just in time for Veganuary. After launching its first free-from chocolate with Galaxy Vegan in 2019, it has released a vegan version of two of its most iconic chocolate bars, Bounty and Topic.
  • In Feb 2021, The Grupo Arcor, Argentina's largest food firm, has inked a joint venture agreement with Ingredion Incorporated, a major worldwide ingredient solutions provider to the food and beverage sector. To enhance food and beverage ingredient offers to customers in Argentina, Chile, and Uruguay, the two firms will combine their manufacturing experience, complementing geographic footprints, and commercial capabilities. Arcor and Ingredion will own 51% and 49% of the company, respectively. The overall turnover of the joint venture will be more than US$ 300 million.

Chocolate Market Summary

Study Period

2024-2030

Base Year

2023

CAGR

7.2%

Largest Market

North America

Fastest Growing Market

N/A
Chocolate Market Dynamics

The growing use of chocolate in the medical industry due to rise in awareness of dark chocolate as a healthy confectionery product containing antioxidants that protect the skin from damaging UV radiation is likely to drive market development is a key factor surge the growth of market. Moreover, chocolates have been identified as one of the best stress relievers and anti-aging confectionery goods, which is expected to increase demand for chocolate-based products. Furthermore, consumers' preferences for novelty products such as milk-flavored chocolate and confectionary are likely to expand as their acceptance of such products grows. In addition, the market is being driven by the increasing affordability of such confectionary chocolate, which is expected to generate attractive development prospects.

Key Features of the Reports

  • The report provides granular level information about the market size, regional market share, historic market (2019-2023), and forecast (2024-2030)
  • The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
  • The report tracks recent innovations, key developments, and start-up details that are actively working in the market
  • The report provides a plethora of information about market entry strategies, regulatory framework, and reimbursement scenario

Chocolate Market Segmentation

By Type
  • Dark Chocolate
  • Milk and White Chocolate
By Distribution Channel
  • Supermarkets/ Hypermarkets
  • Specialist Retailers
  • Convenience Stores
  • Vending Machines
  • Online Channel
  • Variety Stores
  • Others
By Geography
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • MEA

Frequently Asked Questions

The chocolate market size was valued at USD 140.4 billion in 2023

The chocolate market key players are: Mars Incorporated Ferrero International SA Mondalez International The Hershey Company Nestle SA Y?ld?z Holding Chocoladenfabriken Lindt & Sprungli AG Grupo Arcor Meiji Holdings Co. Ltd Lake Champlain Chocolates

The chocolate market has been classified into North America, Asia Pacific, Europe, Latin America, Middle East and Africa, and the rest of MEA.

  1. Executive Summary
  2. Global Chocolate Market Introduction
    • Global Chocolate Market Taxonomy
    • Global Chocolate Market Definitions
      • Type
      • Product
      • Distribution Channel
  3. Global Chocolate Market Dynamics
    • Drivers
    • Restraints
    • Opportunities/Unmet Needs of the Market
    • Trends
    • Global Chocolate Market Dynamic Factors - Impact Analysis
    • Global Chocolate Market Competition Landscape
  4. Global Chocolate Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030
    • Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
    • Year-over-Year (Y-o-Y) Growth Analysis (%)
    • Market Opportunity Analysis
  5. Global Chocolate Market, By Type, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
    • Dark Chocolate
      • Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Milk and White Chocolate
      • Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
  1. Global Chocolate Market Forecast, By Product, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
    • Softlines/Selflines
      • Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Countlines
      • Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Molded Chocolates
      • Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Other Product Types
      • Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
  1. Global Chocolate Market Forecast, By Distribution Channel, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
    • Supermarkets/ Hypermarkets
      • Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Specialist Retailers
      • Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Convenience Stores
      • Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Online Channel
      • Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Other Distribution Channels
      • Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
  1. Global Chocolate Market Forecast, By Region, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
    • North America
      • Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Europe
      • Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Asia-Pacific
      • Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Latin America
      • Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Middle East and Africa
      • Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Global Chocolate Market - Opportunity Analysis Index, By Type, Product, Distribution Channel and Region, 2024 - 2030
  2. North America Chocolate Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
    • Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
      • Dark Chocolate
      • Milk and White Chocolate
    • Product Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
      • Softlines/Selflines
      • Countlines
      • Molded Chocolates
      • Other Product Types
    • Distribution Channel Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
      • Supermarkets/ Hypermarkets
      • Specialist Retailers
      • Convenience Stores
      • Online Channel
      • Other Distribution Channels
    • Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
      • US
      • Canada
    • North America Chocolate Market - Opportunity Analysis Index, By Type, Product, Distribution Channel and Country, 2024 - 2030
    • North America Chocolate Market Dynamics Trends
  3. Europe Chocolate Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
    • Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
      • Dark Chocolate
      • Milk and White Chocolate
    • Product Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
      • Softlines/Selflines
      • Countlines
      • Molded Chocolates
      • Other Product Types
    • Distribution Channel Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
      • Supermarkets/ Hypermarkets
      • Specialist Retailers
      • Convenience Stores
      • Online Channel
      • Other Distribution Channels
    • Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
      • Germany
      • UK
      • France
      • Spain
      • Italy
      • Russia
      • Poland
      • Rest of Europe
    • Europe Chocolate Market - Opportunity Analysis Index, By Type, Product, Distribution Channel and Country, 2024 - 2030
    • Europe Chocolate Market Dynamics Trends
  4. Asia-Pacific Chocolate Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
    • Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
      • Dark Chocolate
      • Milk and White Chocolate
    • Product Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
      • Softlines/Selflines
      • Countlines
      • Molded Chocolates
      • Other Product Types
    • Distribution Channel Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
      • Supermarkets/ Hypermarkets
      • Specialist Retailers
      • Convenience Stores
      • Online Channel
      • Other Distribution Channels
    • Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
      • Japan
      • China
      • India
      • ASEAN
      • Australia & New Zealand
      • Rest of Asia-Pacific
    • Asia-Pacific Chocolate Market - Opportunity Analysis Index, By Type, Product, Distribution Channel and Country, 2024 - 2030
    • Asia-Pacific Chocolate Market Dynamics Trends
  5. Latin America Chocolate Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
    • Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
      • Dark Chocolate
      • Milk and White Chocolate
    • Product Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
      • Softlines/Selflines
      • Countlines
      • Molded Chocolates
      • Other Product Types
    • Distribution Channel Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
      • Supermarkets/ Hypermarkets
      • Specialist Retailers
      • Convenience Stores
      • Online Channel
      • Other Distribution Channels
    • Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
      • Brazil
      • Mexico
      • Argentina
      • Rest of Latin America
    • Latin America Chocolate Market - Opportunity Analysis Index, By Type, Product, Distribution Channel and Country, 2024 - 2030
    • Latin America Chocolate Market Dynamics Trends
  6. Middle East and Africa Chocolate Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
    • Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
      • Dark Chocolate
      • Milk and White Chocolate
    • Product Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
      • Softlines/Selflines
      • Countlines
      • Molded Chocolates
      • Other Product Types
    • Distribution Channel Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
      • Supermarkets/ Hypermarkets
      • Specialist Retailers
      • Convenience Stores
      • Online Channel
      • Other Distribution Channels
    • Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
      • Gulf Cooperation Council (GCC) Countries
      • Israel
      • South Africa
      • Rest of MEA
    • MEA Chocolate Market - Opportunity Analysis Index, By Type, Product, Distribution Channel and Country, 2024 - 2030
    • MEA Chocolate Market Dynamics Trends
  7. Competition Landscape
    • Strategic Dashboard of Top Market Players
    • Company Profiles (Introduction, Financial Analysis, Type & Service Offerings, Key Developments, Strategies, and SWOT Analysis)
      • Nestle SA
      • FererronGroup
      • Hershey Foods Corporation
      • Mondelez International (Cadbury)
      • Mars IncMeiji Co Ltd
      • Kraft Foods
      • Moonstruck Chocolatier Co.
      • Ghirardelli Chocolate Co.
  1. Research Methodology
  2. Key Assumptions and Acronyms
  • Mars Incorporated
  • Ferrero International SA
  • Mondalez International
  • The Hershey Company
  • Nestle SA
  • Y?ld?z Holding
  • Chocoladenfabriken Lindt & Sprungli AG
  • Grupo Arcor
  • Meiji Holdings Co. Ltd
  • Lake Champlain Chocolates

Adjacent Markets