GVR Report cover Chocolate Confectionery Market Size, Share & Trends Report

Chocolate Confectionery Market Size, Share & Trends Analysis Report By Product (Boxed, Countlines, Molded Bars, Seasonal Chocolates, Straightlines, Others), By Type (Milk, Dark, White), by Region And Segment Forecasts, 2018 - 2025

  • Published Date: Jan, 2018
  • Base Year for Estimate: 2016
  • Report ID: GVR-2-68038-294-5
  • Format: Electronic (PDF)
  • Historical Data: 2014 - 2015
  • Number of Pages: 66

Industry Insights 

The global chocolate confectionery market size was valued at USD 123.7 billion in 2016 and is expected to grow at a CAGR of 2.5% during the forecast period. The decline in the prices of cocoa beans is bound to bolster the chocolate confectionery market globally. The cocoa beans prices had been steadily increasing over the past few years. However, as per the Financial Times, in 2017 the prices of cocoa beans fell by around 40%. Further, it was published by CNBC that cocoa prices in 2017 hit a four-year low.  The declining price of cocoa beans which is a key raw material in the manufacture of chocolate confectionery items is anticipated to have a favorable impact on market growth over the forecast period.

North America chocolate confectionery market

Further, chocolate confectionery manufacturing companies conduct several marketing & promotional activities to increase the outreach of their products amongst their targeted end-user segments. In addition, appealing packaging of products, innovative branding activities, and promotional events increase the demand for chocolates amongst consumers. For instance, Ferrero India has initiated several marketing activities to promote the sales of its Kinder Joy chocolates. The company has focussed on branding the products keeping kids as the target audience.

The company has introduced the kinder toys within chocolates and strategies such as blue chocolates and pink chocolates aimed at boys and girls respectively. In addition, the company also has conducted several marketing events. For instance, in 2016, the company initiated an innovative platform for storytelling, namely ‘The Kinder Joy story station’ to increase brand engagement. This platform resulted in the company receiving over 2.2 million calls in three months. Such advertising and marketing strategies are bound to increase the demand for chocolate confectionery products over the forecast period.

Moreover, companies in this market are increasingly promoting product lines that are free of trans fats, saturated fat, and artificial flavors and sweeteners in favor of ingredients such as organic wheat flour, cane sugar, rice syrup, and corn starch. This is also likely to be a vital impact rendering driver due to the growing health consciousness amongst the population.

Factors such as growing consumerism and rising disposable incomes further strengthen the growth of the market. Besides, several market players have adopted strategies of branding their chocolate confectionery items in innovative ways as healthy diet options. This has also resulted in the growing consumption of these items, especially dark chocolate. In addition, several key market players invest significantly in R&D to improve product features and innovation and into marketing & promotional activities. These factors also contribute to the growth over the forecast period. 

Product Insights

Countlines dominated the global chocolate confectionery market in 2016, as it is an easy snacking option that can be eaten on-the-go. However, the seasonal chocolate segment is anticipated to witness the fastest growth over the forecast period.

Chocolate confectionery items are popular gifting options especially during holiday seasons and festivals such as Christmas and Easter. This contributes to the robust growth rate of the seasonal chocolate segment. In addition, the growth of premium chocolates available in this segment further bolsters this segment. 

Type Insights

The market, on the basis of type, is segmented into milk, dark, and white chocolates. The milk chocolate segment held the dominant market share in 2016. However, the dark chocolate segment is anticipated to register the fastest growth over the forecast period owing to the proven significant health benefits of these chocolates including its antioxidant properties and ability to reduce the risk of heart diseases.

Regional Insights

Europe dominated the market in 2016. As per Eurostat, in 2014, Europe had 12,315 companies producing 11.7 million tons of products annually. Moreover, it was also published by Eurostat that in 2015 production in Europe increased by 2.3% to reach 11,736.975 metric tonnes of product. In addition, it was also reported by Nielsen Holdings plc in 2017 that in Western Europe the growth of the grocery market was driven by fresh food and confectionery items. The robust food & drinks industry in Europe is likely to boost the chocolate confectionery market in this region as well over the forecast period. Several prominent market players such as Barry Callebaut, Lindt, and Nestlé (all based in Switzerland); and Ferrero (Italy) are also present in the European region.

Global chocolate market

Asia Pacific is anticipated to witness the fastest growth over the forecast period. The huge population base, rising disposable income & consumerism, and the increasing focus of leading market players on expanding their presence in this region are key factors likely to drive market growth.

Chocolate Confectionery Market Share Insights

Few of the major players operating in this market include Mars, Inc., Mondelēz International, Inc., The Hershey Company, Nestlé, and the Ferrero Group. 

Various strategies such as the introduction of 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. For instance, in June 2017, Ferrero opened an innovation center in Singapore. The innovation center aimed to leverage advanced technology to improve the company’s product offerings.

Similarly, in July 2017, Nestlé invested in an operations center in Uruguay in a deal worth CHF 17 million (around USD 16.6 million). The investment was directed at the improvement in the production of powdered chocolate beverages among others.

Report Scope



Base year for estimation


Actual estimates/Historical data

2014 - 2015

Forecast period

2017 - 2025

Market representation

Revenue in USD Million & CAGR from 2017 to 2025

Regional scope

North America, Europe, Asia Pacific, Latin America, & MEA

Country scope

U.S., Canada, U.K., Germany, Japan, China, Brazil, Mexico, South Africa, and Saudi Arabia

Report coverage

Revenue, competitive landscape, growth factors, and trends

15% free customization scope (equivalent to 5 analysts working days)

If you need specific market information, which is not currently within the scope of the report, we will provide it to you as a part of customization

Segments Covered in the Report

This report forecasts revenue growth and provides an analysis of the latest trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research, Inc. has segmented the chocolate confectionery market on the basis of product, type, and region:

  • Product Outlook (Revenue, USD Million, 2014 - 2025)

    • Boxed

    • Countlines

    • Molded Bars

    • Seasonal Chocolates

    • Straightlines

    • Others

  • Type Outlook (Revenue, USD Million, 2014 - 2025)

    • Milk

    • Dark

    • White

  • Regional Outlook (Revenue, USD Million, 2014 - 2025)

    • North America

      • The U.S.

      • Canada

    • Europe

      • Germany

      • The U.K.

    • Asia Pacific

      • Japan

      • China

    • Latin America

      • Brazil

      • Mexico

    • The Middle East and Africa (MEA)

      • South Africa

      • Saudi Arabia

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