Technavio has been monitoring the global chocolate confectionery market since 2018 and the market is poised to grow by USD 19.97 billion, progressing at a CAGR of nearly 3% during the forecast period. Request free sample pages
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Read the 123-page report with TOC on “Chocolate Confectionery Market Analysis Report by Product (Chocolate bars, Box assortments and seasoned variants, and Others), Geography (APAC, Europe, MEA, North America, and South America), and the Segment Forecasts, 2019-2023”.
The market is driven by the rising demand for organic, functional, vegan, and gluten-free confectioneries. In addition, expansions and promotions by vendors through various strategies are anticipated to boost the growth of the chocolate confectionery market.
The growing health consciousness among consumers has resulted in a rise in the demand for organic, vegan, functional, and gluten-free products across the world. This is encouraging market players to introduce healthier and organic chocolate confectioneries made from raw materials. Also, the growing prevalence of lactose intolerance has prompted vendors to offer vegan and gluten-free chocolate confectioneries. These factors coupled with increasing number of product launches is expected to drive the growth of the market during the forecast period.
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Major Five Chocolate Confectionery Companies:
Chocoladefabriken Lindt & Sprüngli AG
Chocoladefabriken Lindt & Sprüngli AG owns and operates businesses across segments such as Europe, North America, and Rest of the World. The company offers a wide range of chocolate confectioneries under the brands LINDOR, Ghirardelli, Russel Stover, Hofbauer, Kufferle, and Caffarel.
Mars, Incorporated and its Affiliates
Mars, Incorporated and its Affiliates owns and operates businesses across segments such as Mars Petcare, Mars Wrigley Confectionery, Mars Food, Mars Drinks, and Mars Edge. The company offers a wide range of chocolate confectioneries under its well-known brands such as M&M’s, SNICKERS, TWIX, DOVE, GOODNESSKNOWS, and MALTESERS.
Mondelez International owns and operates businesses across segments such as Latin America, Asia, Middle East & Africa, Europe, and North America. The company offers a wide range of chocolate confectioneries under its popular brands such as Alpen Gold, Cadbury, Freia, Lacta, Marabou, Milka, and Toblerone.
Nestle owns and operates businesses across segments such as Zone EMENA, Zone AMS, Zone AOA, Nestle Waters, and other businesses. The company offers a wide range of chocolate confectioneries under brands such as KitKat, TOLL HOUSE, Milkybar, Garoto, Aero, and Orion.
The Hershey Company
The Hershey Company owns and operates businesses across segments comprising of North America, and International and other segments. The company offers a wide range of chocolate confectioneries under its popular brands comprising Hershey’s, KISSES, REESE’S, TWIZZLERS, and KitKat.
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Chocolate Confectionery Product Outlook (Revenue, USD Billion, 2019 - 2023)
- Chocolate bars
- Boxed assortments and seasonal variants
Chocolate Confectionery Geography Outlook (Revenue, USD Billion, 2019 - 2023)
- North America
- South America
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