LONDON--(BUSINESS WIRE)--Technavio has announced the top six leading vendors in their recent global chocolate market 2017-2021 report. This market research report also lists 15 other prominent vendors that are expected to impact the market during the forecast period.
Competitive vendor landscape
According to the research analysis, the global chocolate market is highly fragmented because of the presence of numerous small and large vendors who compete based on numerous factors such as price, quality, innovation, service, reputation, distribution, and promotion. The increasing vendor competition can encourage vendors to reduce their product prices, negatively affecting their vendor margins and market growth.
“The influx of private labels in the market is also on the rise. Innovative packaging is one of the best ways to attract new consumers and create demand. Packages that express freshness and temptation, communicate health and power, and are creative and original are likely to grab more attention of the consumers,” says Sharan Jagannath, lead food analyst from Technavio.
The report also states that many players in the market are switching to omni-channel retailing as they realize the vital role this channel plays in ensuring that the product gets maximum visibility. Omni-channel retailing uses a mix of distribution channels like retail stores and online stores for enhancing customer engagement. Players are also selling products through e-commerce websites like Amazon as the e-commerce segment has seen a rapid growth over the last few years.
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Technavio market research analysts identify the following key vendors:
Mars
Mars is a privately-held business that manufactures and markets food products, confectionery, and pet care products. It markets its products under the brand names M&M's, Snickers, Orbit, Dove, Mars, Pedigree, Whiskas, Royal Canin, Uncle Ben's, Flavia, and Cirkuhealth.
Mondelēz International
Mondelēz International is one of the largest players in the snack segment. It sells and produces its snack foods and beverages in more than 165 countries worldwide. The company's product portfolio includes 53 brands and its brands provide five categories of products: biscuits; cheese and grocery; beverages; gum and candy; and chocolate.
Nestlé
Nestlé manufactures and produces packaged food products. The company focuses on the emerging markets, the positioning of its products, premiumization, innovation, and renovation. The company holds popular brands like Maggi, KitKat, Gerber, Toll House, Milo, Nestlé Pure Life, Nescafé, and others.
Ferrero
Ferrero is an Italian manufacturer and distributor of chocolate. The company’s product portfolio includes chocolate, cream spreads, sugar confectionery, and drinks. It sells its products directly or through authorized distributors. The company's brands include Kinder, Nutella, TicTac, and Ferrero Rocher.
THE HERSHEY COMPANY
THE HERSHEY COMPANY is one of the leading players in the global confectionery market. The company has more than 80 brands, some of which are Jolly Rancher, Hershey's, Reese's, Hershey's Kisses, Ice Breakers, and Brookside. It offers products in various categories including syrups, candies, bars, baking products, and spreads.
Chocoladefabriken Lindt & Sprüngli
The company, along with its subsidiaries, develops, produces, and sells chocolate products worldwide. Lindt offers its products in 120 countries worldwide. The company offers its products under the brands Caffarel, Ghirardelli, Hofbauer, Küfferle, Lindt, and Russell Stover/Whitman’s.
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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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