Is the chocolate market growing?



The global chocolate market size was valued at USD 130.56 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 4.6% from .

Is the demand for chocolate increasing?

There has been significant growth in demand for specialty chocolate products and premiumized offerings in the past few years due to rising emphasis on the bean-to-bar concept. The single-origin cocoa trend continues to propel innovations and new product developments.

Why is there a growing demand for cocoa?

The rising popularity of natural cosmetics across the globe due to rising concerns about the adverse effects of synthetic products is projected to augment the demand for butter cocoa beans as a functional ingredient.

What is the future of chocolate?





Milk chocolate is expected to remain the most popular variety in the next 15 years, but the R&D experts forecast strong growth for compound and dark chocolate. Boone said compound was considered chocolate in many emerging markets and in some cases has a longer flavor release than many varieties of ‘real chocolate’.

What country has the highest demand for chocolate?

When it comes to the league of chocoholics, Switzerland is out in front with annual per capita consumption amounting to an impressive 8.8 kilograms. The country is well known for its excellent chocolate industry with Toblerone one of its more recognizable brands.

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Are cocoa prices rising?

Like many other foods, the price of chocolate is about to go up. While inflation and on-going issues with the supply chain have caused chocolate prices to increase 2022, the reason behind this spike is actually much larger and could be long-term (via CBS News).

How much is the chocolate industry worth 2021?

roughly USD 131.9 Million





The Chocolate market was estimated to be worth roughly USD 131.9 Million in 2021 and is expected to reach USD 171.7 Million by 2028; based on primary research. On the basis of region, Europe is projected to dominate the worldwide Chocolate market.

How wealthy is the chocolate industry?

United States chocolate market

The U.S. cocoa & chocolate market is estimated to be worth 9.67 billion U.S. dollars. The country is also the worldwide leading importer of chocolate and products with chocolate. Imports of this nature amount to almost 3 billion U.S. dollars annually.

What demographic buys the most chocolate?

Adults

Adults are not only by far the largest candy buying demographic, accounting for 92 percent of chocolate sales, but also the largest consumers as nearly 60 percent of those purchases are made for self-consumption.