Crunchy Chocolate Market Is Booming Worldwide Business Forecast 2030
Author : kailas wagh | Published On : 13 Oct 2021
crunchy chocolate market was estimated at $16.86 billion in 2020 and is expected to hit $27.86 billion by 2030, registering a CAGR of 5.1% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
High-end product innovation, rise in disposable income of individuals, expansion of retail market, and surge in trend of gifting confectionery items drive the growth of the global crunchy chocolate market. On the other hand, rise in health awareness, fluctuating costs, and unavailability of raw materials restrain the growth to some extent. Nevertheless, increase in demand for organic and premium chocolates is expected to pave the way for lucrative opportunities in the industry.
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- The extended lockdown in the majority of countries gave way to distorted activities in the chocolate processing industry, which in turn impacted the global crunchy chocolate market negatively.
- However, the overall situation across the globe is getting ameliorated and the market is expected to revive soon.
The global crunchy chocolate market is analyzed across type, distribution channel, age group, price point, and region.
Based on type, the bar segment accounted for nearly half of the total market revenue in 2020, and is expected to lead the trail by 2030. The balls segment, on the other hand, would cite the fastest CAGR of 6.7% during the forecast period.
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Based on distribution channel, the supermarket/hypermarket segment contributed to more than one-third of the total market share in 2020, and is anticipated to dominate by 2030. At the same time, the duty-free outlets segment would cite the fastest CAGR of 8.8% throughout the forecast period.
Based on region, Europe held the major share in 2020, garnering nearly two-fifths of the global crunchy chocolate market. The Asia-Pacific region would showcase the fastest CAGR of 5.8% from 2021 to 2030. The other provinces studied in the report include North America and LAMEA.
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The key market players analyzed in the global crunchy chocolate market report include Mars Inc., Mondelez International, Ferrero Group, Nestle SA, A. Loacker Spa, ??r?h??'?, Pierre Hermé Paris Lindt & Spruengli AG, Y?ld?z Holding, and Maison Chaudun. These market players have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to brace their stand in the industry.