Chocolate Confectionery Market Top Players are Chocoladefabriken Lindt and Sprüngli AG and Ferrero

Chocolate Confectionery Industry Overview

The global chocolate confectionery market size is expected to reach USD 312.6 billion by 2030, expanding at a CAGR of 6.4% during the forecast period, according to a new report by Grand View Research, Inc. The chocolate confectionery market growth is attributed to the increasing tradition of gifting chocolates, especially in Asian countries.

Manufacturers are launching a wide range of chocolate confectionery in the healthier segment, with claims such as vegan, gluten, and dairy-free to cater to the rising customer demand, which is increasing the scope of chocolate confectionery in the global market. For instance, in September 2020, Chocoladefabriken Lindt & Sprüngli AG inaugurated the Lindt Home of Chocolate in Switzerland. The facility showcases a unique chocolate competence center, attractive museum, and open-view production plant. Further, strong advertising and marketing campaigns for vegan, low-sugar, and gluten-free chocolates are also driving the demand.

Chocolate Confectionery Market Segmentation

Grand View Research has segmented the chocolate confectionery market based on product, type, distribution channel, and region.

Based on the Type Insights, the market is segmented into Milk, Dark, and White

• Milk type was the largest segment in 2021. With a rising preference for milk type category, many companies have been launching new products with clean labels such as organic, vegan, and certified Kosher to expand the existing product portfolio.
• However, the dark type segment is projected to register the highest growth during the forecast period.
• In the past few years, the popularity of the product among consumers, especially in Asian countries, has increased with shifting taste preferences and growing awareness about the many health benefits of dark chocolate.

Based on the Product Insights, the market is segmented into Boxed, Molded Bars, Chips & Bites, Truffles & Cups, and Others

• Molded bars segment held the largest market share in 2021 and is expected to maintain its dominance during the forecast period.
• Bar chocolates are the most consumed chocolate form in the world. They are popular among consumers owing to their convenient size. Product launches in this segment by key players are driving the segment growth.
• The chips & bites segment is projected to register the fastest growth from 2022 to 2030. With the rising demand for premium products for various festivals and small occasions, the demand for chips & bites is also rising.

Based on the Distribution Channel Insights, the market is segmented into Supermarkets & Hypermarkets, Convenience Stores, Online, and Others

• Supermarkets & hypermarkets distribution channels made the largest contribution to the global market in 2021.
• The segment is projected to retain its dominance throughout the forecast period, owing to the high consumer inclination toward shopping for grocery products from supermarkets.
• The online distribution channel is anticipated to be the fastest-growing segment during the forecast period.
• The shift in consumers’ shopping behavior is one of the major factors driving product sales through online channels.
• Growing consumer preference for online platforms has prompted companies to offer products through this channel.

Chocolate Confectionery Regional Outlook

• North America
• Europe
• Asia Pacific
• Central & South America
• Middle East & Africa (MEA)

Key Companies Profile & Market Share Insights

The market is competitive, owing to the presence of many global and domestic companies. Various strategies, such as introducing innovative product offerings into the market and marketing & promotions, are being adopted by these key market players to increase the outreach of their products and expand their presence into emerging markets.

Some prominent players in the global Chocolate Confectionery market include:

• The Hershey Company
• Ferrero
• Chocoladefabriken Lindt & Sprüngli AG
• Mars, Incorporated
• MondelÄ“z International
• Nestlé
• CEMOI Group
• Barry Callebaut
• Lake Champlain Chocolates
• LOTTE

Order a free sample PDF of the Chocolate Confectionery Market Intelligence Study, published by Grand View Research.