Europe Chocolate Market Report and Forecast 2024-2032

Europe Chocolate Market Outlook

The Europe chocolate market size was valued at USD 56.29 billion in 2023. The market is further projected to grow at a CAGR of 4.4% between 2024 and 2032, reaching a value of USD 83.18 billion by 2032.

Key Takeaways

• As per industry reports, the per capita consumption of chocolate in Europe varies significantly, with Switzerland being the highest consumer at approximately 8.8 kg (19.6 lbs) per year.

• Other notable European countries with high per capita chocolate consumption include Austria (8.1 kg), Germany (7.9 kg), Ireland (7.9 kg), and the United Kingdom (7.6 kg).

• The demand for cocoa in the European market is high and Europe accounts for almost 36% of global cocoa grinding activities, indicating its significant role in the global chocolate industry.

The demand for fine-flavour cocoa in Europe is experiencing substantial growth, with ultra and high-end beans used for gourmet chocolates. This trend is driven by the potential blood pressure-lowering benefits associated with dark chocolate and the increasing awareness of the nutritional value of cocoa products. The growing demand for fine-flavour cocoa in Europe is evident in the increasing popularity of chocolate brands that use high-quality cocoa beans, such as Valrhona, Amedei, and Domori.

The trend of product premiumisation is thriving in Europe, with discerning consumers increasingly drawn to premium chocolate offerings. Brands like Ferrero, Lindt & Sprüngli, and Yildiz Holding are repositioning their products as exquisite gifts, focusing on brand identity, quality ingredients, and authenticity. The demand for premium chocolates as gifts during festivities like Easter, Valentine's Day, Christmas, and Halloween is also propelling Europe chocolate market growth.

Consumers are seeking more information about cocoa production contexts and the impact of their purchases, leading to a rise in sustainability programs among cocoa trading companies. The emphasis on sustainability in the European chocolate market is evident in the initiatives of major chocolate manufacturers, such as Mars, Mondelez, and Nestlé, which have committed to sourcing sustainable cocoa through programs like the Cocoa Life initiative and the Cocoa Horizons Foundation.

Moreover, the introduction of new and unique chocolate products, such as the Ruby Chocolate by Barry Callebaut, which offers a pink colour and a unique flavour profile, and the Vegan Chocolate by Tony's Chocolonely, caters to the growing demand for plant-based chocolate products. These innovations enhance the overall Europe chocolate market development.

Market Segmentation

Europe Chocolate 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 Type

• Pure Chocolate

• Compound Chocolate

Market Breakup by Distribution Channel

• Supermarkets and Hypermarkets

• Convenience Stores

• Online Stores

• Others

Market Breakup by Country

• Germany

• United Kingdom

• France

• Italy

• Others

Competitive Landscape

Market players are introducing novel product lines with premium cocoa, unique flavours, and organic components, including fruit and nuts, caramel, stevia, and honey, to expand their customer base.

• Mars, Incorporated

• Mondelez International, Inc. 

• Ferrero International S.A.

• Nestlé S.A.

• The Hershey Company 

• Barry Callebaut AG 

• Grupo Arcor  

• Chocoladefabriken Lindt & Sprüngli AG  

• August Storck KG 

• Meiji Holdings Co., Ltd. 

• Others

Key Highlights of the Report