Global Chocolate Confectionery Market Size Analysis - Market Share, Forecast Trends and Outlook Report (2024-2032)

Global Chocolate Confectionery Market Growth

Chocolate confectionery refers to any semi-solid or solid food primarily composed of cocoa or chocolate with or without the addition of nuts or fruits. It contains food made by covering, coating, or representing sugar confectionery in chocolate but does not contain biscuits that have been filled, cooked, or flavoured with chocolate ice cream or chocolate, or baked confectionery flavoured with chocolate.

The chocolate confectionery market demand benefits from its universal appeal and wide range of products, from everyday treats to premium options. It thrives on seasonal demand and gift potential, supports significant economic activity, and offers innovation opportunities. Additionally, dark chocolate’s health benefits and cultural significance enhance its global market presence.

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Global Chocolate Confectionery Market Analysis

The chocolate confectionery industry growth is anticipated to witness substantial growth during the forecast period on account of the rising demand for high-quality products among consumers. Going further, the increasing adoption of healthy eating habits is boosting the inclination towards sugar-free and healthy chocolate confectionery across the globe.

The chocolate confectionery market dynamics and trends are driven by the rising popularity of organic chocolates. Increased brand awareness, the growing appeal of Western products in developing countries, evolving consumer tastes, and the trend of gifting items such as chocolates and chocolate-coated cookies are expected to drive global market expansion in the coming years.

Chocolate Confectionery Industry Outlook

As per the industry reports, in the food category, online sales as a percentage of all sales in Great Britain demonstrated a steady increase from 2019 to 2023. In 2019, online food sales contributed around 5% to the overall sales in this sector. In 2020, this figure increased significantly, reaching around 12% due to the surge in online grocery shopping during the early pandemic. By 2021, the trend continued to rise, peaking at nearly 13%. This growth was fuelled by booming online sales, as more consumers opted for digital platforms to buy their preferable chocolates and confectioneries, thereby driving the chocolate confectionery market revenue.

According to the International Cocoa Organization, in the 2021/2022 period, global cocoa bean production reached 4,826 thousand tonnes, with Africa leading the output at 3,589 thousand tonnes, representing 74% of the total production. Côte d'Ivoire emerged as the dominant producer within Africa, contributing 2,121 thousand tonnes, making up approximately 44% of the global output. Ghana followed, producing 683 thousand tonnes, accounting for about 14% of the world’s cocoa supply. Nigeria and Cameroon also contributed significantly with 280 thousand tonnes and 295 thousand tonnes, respectively, each adding around 6% to the global total. The Americas were the second-largest cocoa-producing region, with a total production of 973 thousand tonnes, accounting for 20% of the global output. Ecuador led production in the Americas with 365 thousand tonnes, making up about 7.5% of the world's total. Brazil, another key player in the Americas, produced 220 thousand tonnes, contributing around 4.5% to the global figure. The remaining countries in the Americas collectively produced 388 thousand tonnes, representing about 8% of the total. Asia and Oceania produced 265 thousand tonnes of cocoa beans in the 2021/2022 period, contributing 5% to the global production. Indonesia was the leading producer in this region, accounting for 180 thousand tonnes, which is approximately 3.7% of the global total. The diverse and robust global cocoa production supports the steady supply of high-quality raw materials, fostering innovation and variety in chocolate products. This reliable supply chain drives the expansion and resilience of the chocolate confectionery industry revenue.

Chocolate enjoys universal popularity across age groups, thus, driving high consumer demand in the chocolate confectionary market.

• The market offers a broad range of options, from premium to everyday chocolates, catering to different tastes and preferences.
• Chocolate is a favoured gift for various occasions, boosting sales during holidays and special events.

Increasing awareness of health issues related to sugar and fat content can limit consumption.

• The market is sensitive to fluctuations in cocoa prices, impacting production costs and pricing strategies.
• The market is highly competitive with numerous brands and products, making it challenging for new entrants.

There is potential for growth through new flavours, textures, and health-conscious options.

• Expanding into developing countries with growing middle-class populations presents new revenue opportunities for the chocolate confectionery market.
• Implementing eco-friendly practices and sourcing can attract environmentally conscious consumers.

Economic instability can reduce consumer spending on non-essential luxury items like premium chocolates.

• Stricter regulations on sugar and fat content may affect product formulations and market strategies.
• Disruptions in cocoa supply due to climatic conditions or geopolitical factors can impact production and pricing.

Key Players in the Global Chocolate Confectionery Market and Their Key Initiatives

Barry Callebaut

• Launched a new range of low-sugar chocolates to meet the growing demand of the chocolate confectionery market.
• Introduced innovative, 100% dairy-free plant-based chocolate products.

Nestlé S.A

• Introduced the first KitKat made with cocoa from the Nestlé Income Accelerator Program.
• Launched a new travel retail-exclusive sustainable chocolate range.

Ferrero International

• Launched Kinder Bueno Mini Chocolate Bars.
• Acquired US-based Fannie May Confections to capture the chocolate confectionary market opportunities.

Meiji Holdings Co., Ltd.

• Implemented advanced fermentation technology.
• Launched premium chocolate products.

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Global Chocolate Confectionery Industry Segmentation

“Global Chocolate Confectionery Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

Market Breakup by Type

• Dark Chocolate
• Milk Chocolate
• White Chocolate

Market Breakup by Product

• Boxed
• Countlines
• Moulded Bars
• Seasonal Chocolates
• Straightlines
• Others

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

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Chocolate Confectionery Market Share

The demand in the chocolate confectionery market is rising as dark chocolate is recognised for its health benefits, such as improved heart health, reduced inflammation, and lower blood pressure, thanks to its antioxidants. Its lower sugar content compared to milk chocolate makes it a healthier option, while its mood-boosting properties and essential minerals add to its appeal.

Milk chocolate, with its creamy texture and sweeter taste, attracts a broad audience. It provides calcium for bone health and is versatile in many products. Its sugar content also offers a quick energy boost, further driving the growth of the chocolate confectionery market.

Leading Companies in the Chocolate Confectionery Market

The companies are focusing on high-quality ingredients and creative flavours, with a strong commitment to sustainability and social responsibility. They offer a wide variety of popular sweets and snacks to customers around the globe.

• Barry Callebaut 
• Nestlé S.A 
• Ferrero International 
• Mondelez Global LLC 
• Meiji Holdings Co., Ltd.