GVR Report cover Organic Chocolate Spreads Market Size, Share & Trends Report

Organic Chocolate Spreads Market Size, Share & Trends Analysis Report By Product (Hazelnut, Dark), By Distribution Channel (Supermarket & Hypermarket, Online), By Region, And Segment Forecasts, 2021 - 2028

  • Published Date: Jun, 2021
  • Base Year for Estimate: 2020
  • Report ID: GVR-4-68039-437-3
  • Format: Electronic (PDF)
  • Historical Data: 2016 - 2019
  • Number of Pages: 145

Report Overview

The global organic chocolate spreads market size was valued at USD 571.0 million in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 4.8% from 2021 to 2028. The rising consumer awareness regarding the health benefits of the products, coupled with constant product innovation, has been favoring the industry's growth over the last few years. Moreover, the rapidly increasing demand for Ready-To-Eat (RTE) products contributes to product sales worldwide. As with other sectors within the food & beverage industry, the COVID-19 pandemic has been catastrophic for the market, especially throughout 2020. At a macro-level, the reduction in chocolate consumption and cocoa grindings worldwide has had a ripple effect on the demand for the product. However, the market is expected to regain its prominence in the near future owing to the reopening of offline distribution channels, notably across Asian and North American markets.

U.S. organic chocolate spread market size, by distribution channel, 2016 - 2028 (USD Million)

The biggest and one of the most notable developments in the chocolate industry is the rise in consumer preference for organic products. Consumers worldwide are increasingly preferring healthier foods over conventional indulgences. Notwithstanding their taste and luxurious appeal, chocolate spreads are generally not considered healthy.

However, consumers worldwide are showing more interest in organic offerings by realizing the health benefits associated with the product, particularly the dark chocolate versions. With organic spreads becoming an essential breakfast item their demand is likely to be driven by the rising consumer interest in low-calorie products throughout the forecast period.

Recent years have witnessed various product launches and innovations in the industry. For instance, in February 2021, Valeo Foods, an Irish multinational food & beverage company, entered the industry by launching ChocoBee, which consists of 100% sustainably sourced ingredients. This new product line also marked the brand’s foray beyond honey-based products.

In addition, increasing preference for nutrient-rich products due to the rising importance of health and wellness among buyers will support market growth. The demand for organic spreads has been increasing over the past few years. Thus, various brands and start-ups have been launching organic products to gain maximum traction among consumers.

Product Insights

The hazelnut product segment accounted for the highest revenue share of more than 38% in 2020. Hazelnut promotes heart health and is highly nutritious as it contains vitamins, minerals, antioxidant compounds, and healthy fats. These are among the key factors driving the popularity of the product. Hazelnut is a rich source of dietary fiber that helps regulate bowel movements and is recommended by health experts. Thus, consumers’ inclination towards hazelnut as a healthy and tasty food ingredient is encouraging manufacturers to incorporate it in maximum food items.

Global organic chocolate spread market share, by product, 2020 (%)

The dark chocolate segment is projected to register the fastest growth during the forecast period. Dark chocolate-based variants are loaded with minerals, such as calcium & iron, as well as vitamins. Consuming dark chocolate that has significant cocoa content offers several health benefits including improved heart health and brain function. Also, dark chocolate is popular among consumers looking for a strong taste as it has a higher percentage of cocoa, which makes it bitter and less sweet than any other type of chocolate spread. Manufacturers, such as Biona and Askinosie Chocolate, offer dark chocolate spreads that can be included in daily diets.

Distribution Channel Insights

Supermarkets and hypermarkets held a revenue share of more than 51% in the global market in 2020. Supermarkets and hypermarkets are self-service superstores that sell a variety of products ranging from food, household items, and general merchandise to organic foods, such as chocolate spreads. Supermarkets cater to all the requirements of consumers under one roof.

Organic or conventional chocolate spreads are popular products sold in supermarkets and hypermarkets by various local and international brands. These stores attract a large number of consumers and are usually located in the central parts of a city. The prices of products in these stores vary depending on brands, which gives customers the option of choosing products from various brands depending on their budget.

The online distribution channel segment is expected to register the fastest growth rate from 2021 to 2028. Over the past few years, e-commerce has been gaining popularity as it offers convenience. Buyers across the world are increasingly turning toward online shopping for their daily needs including food, groceries, personal care items, and organic products.

Owing to the COVID-19 pandemic, consumers have started to change their shopping habits and prefer shopping online as it helps in avoiding direct contact with others. Key players in the industry are launching e-commerce websites in lucrative markets. The pandemic has triggered a digital explosion across many sectors, including the organic food market.

Regional Insights

Europe held the largest share in the global market of more than 44% in 2020. Europe houses some of the world’s most revenue-generating countries, such as Russia, Spain, and Switzerland for organic foods owing to a large number of exports. Europe is the world’s largest chocolate producer and also has a maximum number of organic certified companies, which also manufacture spreads. In addition, increasing organic and fair-trade certified cocoa companies and growing sales of organic products in the region are likely to favor the regional market growth. Furthermore, the high millennial and Gen Z population in the region is expected to generate a noteworthy demand for the product.

Asia Pacific is expected to be the fastest-growing regional market at a CAGR of 5.7% over the forecast period. Rising product demand and the focus of millennials on ingredient sourcing or origin are expected to boost the market growth. The regional market is competitive and highly fragmented owing to the presence of a large number of international and regional players. In addition, many international brands are penetrating countries, such as China and Japan, to explore new growth opportunities and gain significant market shares. Furthermore, key brands have been incorporating social media campaigns and celebrity endorsements to capture a significant share in the regional market.

Key Companies & Market Share Insights

The market is becoming highly competitive owing to the presence of a large number of small- and medium-scale regional players in this segment. Companies have been launching products to meet the changing consumer demands. In November 2020, Choco Group, UAB launched organic chocolate spreads under its Mulate brand. These spreads are available in caramel, tahini, hemp, blackcurrant, and nut flavors. In August 2020, the Violife brand launched Cocospread, a vegan and organic chocolate spread, in the U.K. Cocospread is a dairy-, gluten-, & soya-free and certified vegan, halal, and kosher product. Some of the key players in the global organic chocolate spreads market include:

  • Nutiva, Inc.

  • Rigoni di Asiago

  • Phalada Pure & Sure

  • Askinosie Chocolate, LLC

  • The Organic Family Ltd. (Mr. Organic)

  • Cocofina

  • Mason & Co.

  • BIONA

  • Artisana Organics

  • Pana Organic

Organic Chocolate Spreads Market Report Scope

Report Attribute

Details

Market size value in 2021

USD 592.0million

Revenue forecast in 2028

USD 834.0 million

Growth rate

CAGR of 4.8% from 2021 to 2028

Base year for estimation

2020

Historical data

2016 - 2019

Forecast period

2021 - 2028

Quantitative units

Revenue in USD million/billion, volume in thousand units, and CAGR from 2021 to 2028

Report coverage

Revenue forecast, volume forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Product, distribution channel, region

Regional scope

North America; Europe; Asia Pacific; Central & South America; Middle East & Africa

Country scope

U.S.; Canada; Mexico; Germany; U.K.; Switzerland; Russia; The Netherlands; Italy; France; Spain; Sweden; Denmark; Belgium; China; Japan; South Korea; Australia; Brazil; South Africa; Saudi Arabia; Israel

Key companies profiled

Nutiva, Inc.; Rigoni di Asiago; Phalada Pure & Sure; Askinosie Chocolate, LLC; The Organic Family Ltd. (Mr. Organic); Cocofina; Mason & Co.; BIONA; Artisana Organics; Pana Organic

Customization scope

Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.

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Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2028. For the purpose of this study, Grand View Research has segmented the global organic chocolate spreads market report on the basis of product, distribution channel, and region:

  • Product Outlook (Volume, Thousand Units; Revenue, USD Million, 2016 - 2028)

    • Hazelnut

    • Duo

    • Milk

    • Dark

    • Others

  • Distribution Channel Outlook (Volume, Thousand Units; Revenue, USD Million, 2016 - 2028)

    • Hypermarket & Supermarket

    • Online

    • Others

  • Regional Outlook (Volume, Thousand Units; Revenue, USD Million, 2016 - 2028)

    • North America

      • U.S.

      • Canada

      • Mexico

    • Europe

      • Germany

      • U.K.

      • Switzerland

      • Russia

      • The Netherlands

      • Italy

      • France

      • Spain

      • Sweden

      • Denmark

      • Belgium

    • Asia Pacific

      • China

      • Japan

      • South Korea

      • Australia

    • Central & South America

      • Brazil

    • Middle East & Africa

      • South Africa

      • Saudi Arabia

      • Israel

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