Global Crunchy Chocolate Market Report and Forecast 2024-2032

Global Crunchy Chocolate Market Outlook

The global crunchy chocolate market size was approximately USD 31.17 billion in 2023. The market is further projected to grow at a CAGR of 5.4% between 2024 and 2032, reaching a value of USD 49.88 billion by 2032.

Key Trends in the Market

Crunchy chocolates are sweet desserts that are composed of malt, sugar, cocoa, condensed milk, and nuts and almonds. Chocolates are known to provide energy, control stress, and prevent ageing. They boost cognitive functions of the brain by improving blood flow and also reduce the risk of blood clots, thereby improving heart health.

• Consumers nowadays prefer confectionery products to traditional sweets because they have a longer shelf life and have unique flavours. For example, chocolates infused with peach, ginger or exotic citrus fruits like Japanese yuzu are becoming increasingly popular because of their natural ingredients and attractive packaging. The evolving customer preferences are thus favouring the crunchy chocolate market growth.

• The demand for organic chocolate has gained a significant momentum . Due to rise in the number of chronic diseases, consumers are now making a transition to a plant-based diet. Natural cocoa beans have a rich flavour. They contain vitamin C, calcium, and iron that improve concentration and make bones stronger. They also contain anandamide, which helps in boosting mood by binding to the receptors in the brain.

• Prevalence of lactose intolerance and severe eating disorders have given rise to the demand for vegan gluten free chocolates. These can also be consumed by Type 1 diabetic patients since they are prepared from pure dark chocolate that is unsweetened, and they also help in controlling cortisol levels in the human body.

• Due to busy schedule and modern lifestyle, the demand for ready to eat food items like chocolate bars has been surging, acting as one of the significant crunchy chocolate market trends. The consumption of protein bars among working professionals for quick nourishment is increasing since these bars are rich in amino acids and support muscle repair, which helps in delaying appetite.

• Some chocolate manufacturers are adapting to regional tastes and preferences of people in order to gain a competitive edge and increase their market penetration. For example, in Japan, Nestle offers Kit Kat in flavours like chestnut and sweet potato, among hundreds of other seasonal and regional flavours like wasabi and roasted tea. Most Japanese people enjoy having Kit Kat for office breaks and gifting it as travel souvenirs to foreigners.

Market Analysis

On the basis of type, the market is segmented into bars, toffee bites, balls, and truffles, among others. Based on price point, the market can be bifurcated into premium and mainstream.

On the basis of distribution channel, the crunchy chocolate market segmentation includes supermarkets/hypermarkets, convenience stores, and online channels, among others.

The major regional markets for crunchy chocolates are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global crunchy chocolate market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.

• Nestlé S.A

• Ferrero International SA

• Mondelez International Inc

• Mars, Incorporated

• A.Loacker AG/SPA

• Chocoladefabriken Lindt & Sprüngli AG

• Arcor SAIC

• Meiji Holdings Co., Ltd.

• Pladis Foods Ltd.

• Ezaki Glico Co., Ltd.

• Others

Market Share by Price Point

Growing health consciousness and a desire for rich flavours and improved sensory experience are driving consumers towards premium chocolates, which, in turn, contributes to the crunchy chocolate market demand. Premium chocolate products are prepared using signature rich caramel, tree nuts (almonds, coconut, walnuts), and other clean ingredients, delivering an elevated flavour and nutritional profile.

Governments of many European countries and the UK also support the production of cocoa rich chocolates with low sugar content, issuing stringent guidelines and production standards for manufacturers. This is to prevent widespread obesity and health related issues among citizens and ensure high product quality. Moreover, with rising disposable incomes of people, premium chocolate boxes are becoming a durable gifting option for different occasions. As a result, the premium category for crunchy chocolates is expected to witness a significant expansion in the forecast period.

Market Share by Region

Europe is one of the leading chocolate consumers in the world, supported by increasing preference for healthier and indulgent confectionery and the presence of strong chocolate processing and manufacturing industries. Many popular chocolate brands are present in the region that follow high quality standards for manufacturing chocolates, for example, Perugina and Caffarel in Italy, Godiva Chocolates in Belgium, and Tortchen in Germany. The per person consumption of chocolate in some European countries is also very high, like in Switzerland and Austria.

As per the crunchy chocolate market analysis, the inclination of the masses towards chocolate and chocolate-based products is expected to grow and penetrate deeper in European countries, further helping premium brands increase their market share by providing innovative offerings like bean-to-bar products. These factors favour the market for crunchy chocolates in Europe.

North America is expected to be another major market for the product. The USA and Canada, both are among the top ten countries in the world in terms of chocolate consumption. Meanwhile, the Asia Pacific is anticipated to witness a surge in the presence of food manufacturers specialising in chocolate and confectionery production. This is supported by evolving consumer choices in the region, which creates opportunities for businesses to foray into the premium category and expand their offerings.

Competitive Landscape

Ferrero International SA was found in Piedmont, Italy in 1946. The company specialises in the production of jams, chocolates, and sandwich spreads, among other confectionery products. Some of its most iconic brands include Nutella, Ferrero Rocher, Kinder Bueno, and Kinder Joy. It has a presence in more than 170 countries and continously works on improving its research and development process. In 2022, it invested 733 million euros in Italy and 17 million euros in USA, Germany, and Poland to scale up production capacity.

Mondelez International Inc was found in Chicago, Illinois in 1923. It is the world's second largest producer of chocolates and the biggest producer of biscuits. It has a presence in more than 80 countries and  encourages people to snack right by offering sustainable options in over 150 countries. It also makes gums, candies, and powdered beverage products. Some of its most popular brands are Oreo, Ritz, and Cadbury Dairy Milk.

Nestlé S.A was found in Vevey, Vaud, Switzerland in 1866. It is a multinational conglomerate that manufactures various food products and beverages. It has a presence in more than 80 countries and since 2014, it has been the largest publicly held food company in the world. Apart from chocolates, it also makes ice cream, candies, instant tea and coffee powder, and also has a business unit operating in the field of healthcare and nutrition.

Other players in the crunchy chocolate market are Mars, Incorporated, A.Loacker AG/SPA, Chocoladefabriken Lindt & Sprüngli AG, Arcor SAIC, Meiji Holdings Co., Ltd., Pladis Foods Ltd., and  Ezaki Glico Co., Ltd., among others.

Key Highlights of the Report