Premium Chocolate Market Overview
Premium Chocolate Market size is estimated to reach $48.2
billion by 2026, growing at a CAGR of 9.6% during the forecast period
2021-2026. Premium chocolates are high-quality chocolate variants that are
produced from ultra-fine ingredients and are infused with a variety of exotic
flavors, including peanut butter, caramel, mint, honey, tropical fruits,
espresso, and others. Premium chocolates are increasingly being adopted across
the world owing to the growing awareness about the benefits of premium
chocolates and the rise in the branding of premium chocolates as gifts by the
key players. The rise in the demand for dark
chocolates made with cocoa powder, growing adoption of skimmed milk
chocolate among the young population, increase in the popularity of gourmet
chocolates prepared from ultra-fine cocoa beans, and growing investment by the
key players to develop quality and healthier premium chocolates are the factors
that are set to drive the growth of the Premium Chocolate Market for the period
2021-2026.
Premium Chocolate Market Report Coverage
The
report: “Premium Chocolate Market
Forecast (2021-2026)”, by Industry ARC, covers an in-depth analysis of the
following segments of the Premium
Chocolate Market.
By
Product Type: Dark Premium Chocolate and White and Milk
Premium Chocolate.
By
Distribution Channel: Supermarkets/Hypermarkets,
Online Channels, Convenience Stores, and Others.
By
Geography: North America (U.S., Canada, and Mexico), Europe (Germany, UK,
France, Italy, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India,
Japan, South Korea, Australia & New Zealand, and Rest of Asia-Pacific),
South America (Brazil, Argentina, and Rest of South America) and Rest of World
(Middle East and Africa).
Key Takeaways
- Geographically, North America Premium Chocolate Market accounted for the highest revenue share in 2020 and it is poised to dominate over the period 2021-2026 owing to the rise in the demand for dark chocolates made with cocoa powder.
- The increase in the availability of flavored premium chocolates in supermarkets is driving the Supermarkets/Hypermarkets segment. However, the fluctuating price of cocoa beans is one of the major factors that is said to reduce the growth of the Premium Chocolate Market.
- Detailed analysis on the Strength, Weakness, and Opportunities of the prominent players operating in the market will be provided in the Premium Chocolate Market report.
Premium Chocolate Market Size, By Product Type, 2020-2026 (USD Million)
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Premium Chocolate Market Segment Analysis-By Product Type
The Premium Chocolate Market based on the Product Type can be further segmented into Dark Premium Chocolate and White and Milk Premium Chocolate. The Dark Premium Chocolate segment held the largest share in 2020 and is also estimated to be the fastest-growing segment with a CAGR of 10.1% over the period 2021-2026. This growth is owing to the factors such as the increase in the availability of dark premium chocolates and the growing demand for dark chocolates made with cocoa powder. The rise in the inclination towards dark chocolates made with cocoa beans in developed nations is driving the growth of the Premium Chocolate Market. The White and Milk Premium Chocolate segment held the second-largest share in 2020 owing to the factors such as the growing demand for skimmed milk chocolate among the young population and the rise in the product launches of white and milk premium chocolates.
Premium Chocolate Market Segment Analysis-By Distribution Channel
The
Premium Chocolate Market based on the Distribution Channel can be further
segmented into Supermarkets/Hypermarkets, Online Channels,
Convenience Stores, and Others. The Supermarkets/Hypermarkets segment
held the largest share in 2020 owing to the factors such as the increase in the
demand for various premium chocolates made with cocoa powder in supermarkets and
the rise in the investment by the key players. The easy availability of choice of flavor
and trustworthiness in the supermarkets is driving the growth of the
Premium Chocolate Market. The Online Channels segment
is estimated to be the fastest-growing segment with a CAGR of 10.3% over the
period 2021-2026. This growth is owing to the factors such as the rise in the demand for skimmed
milk chocolate among the young population in online channels, advancements
in technology, and growing inclination towards a sedentary lifestyle.
Premium Chocolate Market Segment Analysis-By Geography
North America held the largest share with 27% of the overall
market in 2020. The growth in this segment is owing to the factors such as the
growing demand for dark chocolates made with cocoa powder and cocoa beans and
an increase in product launches by key players. The increasing awareness about the
health benefits of premium chocolates in developed nations is driving the growth of the Premium
Chocolate Market. Asia-Pacific
segment is estimated to be the fastest-growing segment over the period 2021-2026. The
growth in this segment is owing to the factors such as the rise in the demand
for skimmed milk chocolate and growing investment by the key players to develop
quality and healthier premium chocolates.
Premium Chocolate Market Drivers
Rise in the Demand for Dark Premium Chocolates
The rise in the demand for organic and clean label trends has propelled the demand for dark premium chocolates made with cocoa powder and cocoa beans. Moreover, consumers in developed nations are more informed about the health benefits of dark chocolate and are increasingly inclining towards opting for dark chocolates as a dessert option, which is one of the major factors driving the growth of the Premium Chocolate Market.
Increase in the Branding of Premium Chocolates as Gifts
Premium
chocolates, such as skimmed milk chocolate and dark chocolate are increasingly
being branded as gifts to attract young consumers across the world. The key players
across the world are also increasingly launching dark and milk premium
chocolates as gifts owing to the growing demand from consumers, which is
further propelling the growth of the Premium Chocolate Market.
Premium Chocolate Market Challenges
Fluctuating Price of Cocoa Beans
The
key players in the market are increasing their investment to carry out various
research and development activities for launching quality and healthier premium
chocolates. However, the fluctuating price of cocoa beans is one of the major
factors that is estimated to reduce the growth of the Premium Chocolate Market.
Premium Chocolate Market Competitive Landscape:
Product
launches, mergers and acquisitions, joint ventures, and geographical expansions
are key strategies adopted by players in the Premium Chocolate Market. Key
companies of this market are The Hershey Company, Ferrero Group, Yildiz Holding,
Mondelez International Inc, Mars Incorporated, Lake Champlain Chocolates, Nestle
SA, Cemoi Chocolatier SA, Chocoladefabriken Lindt & Sprungli AG, and Pierre
Marcolini Group among others.
Acquisitions/Product Launches:
- In January 2021, Mondelez International Inc has launched Cadbury Dairy Milk Silk Mousse under its premium chocolate segment to the customers who are always on the lookout for innovative and unique experiences.
- In October 2020, Ferrero Group has launched the premium gifting brand ‘Ferrero Rocher Moments’ in India to expand the existing portfolio by bringing an enjoyable and light-hearted experience for consumers in the country to celebrate daily moments.
- In October 2020, The Hershey Company has launched Hershey’s Exotic Dark Chocolate to strengthen the premium chocolate portfolio and to make customers experience the exotic and indulgent taste of Dark Chocolates under the Hershey’s brand name.
Relevant Links:
Chocolate
Market - Forecast (2021 - 2026)
Report
Code: FBR 0224
Chocolate
Flavors Market - Forecast 2021 - 2026
Report
Code: FBR 40375
For more Food and Beverage Market reports, please click here
LIST OF TABLES
1.Global MARKET SEGMENTATION Market 2023-2030 ($M)1.1 By Product Type Market 2023-2030 ($M) - Global Industry Research
1.1.1 Dark Premium Chocolate Market 2023-2030 ($M)
1.1.2 White and Milk Premium Chocolate Market 2023-2030 ($M)
1.2 By Distribution Channel Market 2023-2030 ($M) - Global Industry Research
1.2.1 Supermarkets/Hypermarkets Market 2023-2030 ($M)
1.2.2 Convenience Stores Market 2023-2030 ($M)
1.2.3 Online Stores Market 2023-2030 ($M)
2.Global COMPETITIVE LANDSCAPE Market 2023-2030 ($M)
2.1 Most Adopted Strategies Market 2023-2030 ($M) - Global Industry Research
2.2 Most Active Companies Market 2023-2030 ($M) - Global Industry Research
3.Global MARKET SEGMENTATION Market 2023-2030 (Volume/Units)
3.1 By Product Type Market 2023-2030 (Volume/Units) - Global Industry Research
3.1.1 Dark Premium Chocolate Market 2023-2030 (Volume/Units)
3.1.2 White and Milk Premium Chocolate Market 2023-2030 (Volume/Units)
3.2 By Distribution Channel Market 2023-2030 (Volume/Units) - Global Industry Research
3.2.1 Supermarkets/Hypermarkets Market 2023-2030 (Volume/Units)
3.2.2 Convenience Stores Market 2023-2030 (Volume/Units)
3.2.3 Online Stores Market 2023-2030 (Volume/Units)
4.Global COMPETITIVE LANDSCAPE Market 2023-2030 (Volume/Units)
4.1 Most Adopted Strategies Market 2023-2030 (Volume/Units) - Global Industry Research
4.2 Most Active Companies Market 2023-2030 (Volume/Units) - Global Industry Research
5.North America MARKET SEGMENTATION Market 2023-2030 ($M)
5.1 By Product Type Market 2023-2030 ($M) - Regional Industry Research
5.1.1 Dark Premium Chocolate Market 2023-2030 ($M)
5.1.2 White and Milk Premium Chocolate Market 2023-2030 ($M)
5.2 By Distribution Channel Market 2023-2030 ($M) - Regional Industry Research
5.2.1 Supermarkets/Hypermarkets Market 2023-2030 ($M)
5.2.2 Convenience Stores Market 2023-2030 ($M)
5.2.3 Online Stores Market 2023-2030 ($M)
6.North America COMPETITIVE LANDSCAPE Market 2023-2030 ($M)
6.1 Most Adopted Strategies Market 2023-2030 ($M) - Regional Industry Research
6.2 Most Active Companies Market 2023-2030 ($M) - Regional Industry Research
7.South America MARKET SEGMENTATION Market 2023-2030 ($M)
7.1 By Product Type Market 2023-2030 ($M) - Regional Industry Research
7.1.1 Dark Premium Chocolate Market 2023-2030 ($M)
7.1.2 White and Milk Premium Chocolate Market 2023-2030 ($M)
7.2 By Distribution Channel Market 2023-2030 ($M) - Regional Industry Research
7.2.1 Supermarkets/Hypermarkets Market 2023-2030 ($M)
7.2.2 Convenience Stores Market 2023-2030 ($M)
7.2.3 Online Stores Market 2023-2030 ($M)
8.South America COMPETITIVE LANDSCAPE Market 2023-2030 ($M)
8.1 Most Adopted Strategies Market 2023-2030 ($M) - Regional Industry Research
8.2 Most Active Companies Market 2023-2030 ($M) - Regional Industry Research
9.Europe MARKET SEGMENTATION Market 2023-2030 ($M)
9.1 By Product Type Market 2023-2030 ($M) - Regional Industry Research
9.1.1 Dark Premium Chocolate Market 2023-2030 ($M)
9.1.2 White and Milk Premium Chocolate Market 2023-2030 ($M)
9.2 By Distribution Channel Market 2023-2030 ($M) - Regional Industry Research
9.2.1 Supermarkets/Hypermarkets Market 2023-2030 ($M)
9.2.2 Convenience Stores Market 2023-2030 ($M)
9.2.3 Online Stores Market 2023-2030 ($M)
10.Europe COMPETITIVE LANDSCAPE Market 2023-2030 ($M)
10.1 Most Adopted Strategies Market 2023-2030 ($M) - Regional Industry Research
10.2 Most Active Companies Market 2023-2030 ($M) - Regional Industry Research
11.APAC MARKET SEGMENTATION Market 2023-2030 ($M)
11.1 By Product Type Market 2023-2030 ($M) - Regional Industry Research
11.1.1 Dark Premium Chocolate Market 2023-2030 ($M)
11.1.2 White and Milk Premium Chocolate Market 2023-2030 ($M)
11.2 By Distribution Channel Market 2023-2030 ($M) - Regional Industry Research
11.2.1 Supermarkets/Hypermarkets Market 2023-2030 ($M)
11.2.2 Convenience Stores Market 2023-2030 ($M)
11.2.3 Online Stores Market 2023-2030 ($M)
12.APAC COMPETITIVE LANDSCAPE Market 2023-2030 ($M)
12.1 Most Adopted Strategies Market 2023-2030 ($M) - Regional Industry Research
12.2 Most Active Companies Market 2023-2030 ($M) - Regional Industry Research
13.MENA MARKET SEGMENTATION Market 2023-2030 ($M)
13.1 By Product Type Market 2023-2030 ($M) - Regional Industry Research
13.1.1 Dark Premium Chocolate Market 2023-2030 ($M)
13.1.2 White and Milk Premium Chocolate Market 2023-2030 ($M)
13.2 By Distribution Channel Market 2023-2030 ($M) - Regional Industry Research
13.2.1 Supermarkets/Hypermarkets Market 2023-2030 ($M)
13.2.2 Convenience Stores Market 2023-2030 ($M)
13.2.3 Online Stores Market 2023-2030 ($M)
14.MENA COMPETITIVE LANDSCAPE Market 2023-2030 ($M)
14.1 Most Adopted Strategies Market 2023-2030 ($M) - Regional Industry Research
14.2 Most Active Companies Market 2023-2030 ($M) - Regional Industry Research
LIST OF FIGURES
1.US Premium Chocolate Market Revenue, 2023-2030 ($M)2.Canada Premium Chocolate Market Revenue, 2023-2030 ($M)
3.Mexico Premium Chocolate Market Revenue, 2023-2030 ($M)
4.Brazil Premium Chocolate Market Revenue, 2023-2030 ($M)
5.Argentina Premium Chocolate Market Revenue, 2023-2030 ($M)
6.Peru Premium Chocolate Market Revenue, 2023-2030 ($M)
7.Colombia Premium Chocolate Market Revenue, 2023-2030 ($M)
8.Chile Premium Chocolate Market Revenue, 2023-2030 ($M)
9.Rest of South America Premium Chocolate Market Revenue, 2023-2030 ($M)
10.UK Premium Chocolate Market Revenue, 2023-2030 ($M)
11.Germany Premium Chocolate Market Revenue, 2023-2030 ($M)
12.France Premium Chocolate Market Revenue, 2023-2030 ($M)
13.Italy Premium Chocolate Market Revenue, 2023-2030 ($M)
14.Spain Premium Chocolate Market Revenue, 2023-2030 ($M)
15.Rest of Europe Premium Chocolate Market Revenue, 2023-2030 ($M)
16.China Premium Chocolate Market Revenue, 2023-2030 ($M)
17.India Premium Chocolate Market Revenue, 2023-2030 ($M)
18.Japan Premium Chocolate Market Revenue, 2023-2030 ($M)
19.South Korea Premium Chocolate Market Revenue, 2023-2030 ($M)
20.South Africa Premium Chocolate Market Revenue, 2023-2030 ($M)
21.North America Premium Chocolate By Application
22.South America Premium Chocolate By Application
23.Europe Premium Chocolate By Application
24.APAC Premium Chocolate By Application
25.MENA Premium Chocolate By Application