Spain Chocolate Market Report and Forecast 2024-2032

Spain Chocolate Market Outlook

The Spain chocolate market size was valued at USD 853.98 million in 2023. The market is further projected to grow at a CAGR of 4.3% between 2024 and 2032, reaching a value of USD 1250.98 million by 2032.

Key Takeaways

• The Spain chocolate market growth is driven by the health benefits of dark chocolate, increased demand for chocolate in various applications such as confectionery and flavoured eatables, and rising demand for chocolate as a token of love and appreciation.

• Milk chocolate is the largest segment in the market due to its sweeter and softer texture compared to dark chocolate.

• As per industry reports, Europe is the largest chocolate market, with USD 45 billion in chocolate sales projected in 2022.

• The average per capita chocolate consumption in Europe is estimated at 5.0 kg, with Europe being the largest region for cocoa grinding activities.

Dark chocolates are increasingly becoming popular among consumers in Spain due to their perceived health benefits and low sugar content. Dark chocolate is rich in antioxidants, which can help protect the body against damage from free radicals. As a result, the demand for dark chocolate is growing rapidly, and it is expected to continue to do so in the future.

As per Spain chocolate market analysis, the trend of gifting chocolates on special days, occasions, or festivals is becoming increasingly popular in Spain. Chocolates are seen as a thoughtful and indulgent gift, making them an ideal choice for various occasions. This trend is contributing to the growth of the chocolate market during certain periods of time.

According to a report by the International Cocoa Organisation, the price of cocoa beans increased by 16.5% in 2021 compared to the previous year. As a result, chocolate manufacturers like Nestle and Hershey's have been exploring alternatives to cocoa butter and cocoa powder to reduce costs. For instance, Nestle has developed a new chocolate recipe that uses less cocoa butter and more shea butter, while Hershey's has developed a new chocolate formula that uses rice flour instead of cocoa powder.

Pure chocolate is made from cocoa solids, cocoa butter, sugar, and milk powder and has rich taste. The demand for pure chocolate in Spain is increasing due to the growing trend of healthy eating habits and the rising preference for dark chocolate aiding the Spain chocolate market growth. Compound chocolate, on the other hand, is made by replacing cocoa butter with vegetable oils. It is less expensive than pure chocolate and is commonly used in the production of chocolates with fillings, such as cream, nuts, and fruits. The demand for compound chocolate in Spain is driven by the mass market, which prefers low-cost chocolate products.

Market Segmentation

Spain 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 Region

• Andalusia 

• Catalonia 

• Madrid 

• Valencian Community 

• Rest of Spain

Competitive Landscape

Market players are introducing premium chocolates with high-quality cocoa, distinct flavours, and organic components, including honey, caramel, and dark chocolate, to maintain their competitiveness.

• Mars, Incorporated 

• Mondelez International, Inc.  

• Ferrero International S.A. 

• Nestlé S.A. 

• Barry Callebaut AG 

• Chocoladefabriken Lindt & Sprüngli AG  

• August Storck KG 

• IBERCACAO, S.A. 

• NATRA S.A. 

• Comercial Chocolates Lacasa, S.A  

• Others

Key Highlights of the Report