Global Chocolate Confectionery Market Review 2014-2018 and Forecast 2019-2024 - COVID-19 Updated - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "The Global Chocolate Confectionery Market and the Impact of COVID-19 in the Medium Term" report has been added to ResearchAndMarkets.com's offering.

This report presents a strategic analysis of the global chocolate confectionery market and a forecast for its development in the medium term, taking into account the impact of COVID-19 on it. It provides a comprehensive overview of the market volume and value, dynamics, segmentation, characteristics, main players, prices, international trade, trends and insights, growth and demand drivers, challenges, etc.

This is the most detailed (COVID-19 updated) and comprehensive report about the global chocolate confectionery market, covering all global regions and 151 single countries. The report presents information on each indicator for each of the 151 countries covered, offering unmatched value, accuracy and expert insights.

Market Insights and Outlook

The global chocolate confectionery market was equal to 94.81 billion USD (calculated in retail prices) in 2014. Until 2024, the chocolate confectionery market in the world is forecast to reach 140.83 billion USD (in retail prices), thus increasing at a CAGR of 3.44% per annum for the period 2019-2024. This is a decrease, compared to the growth of about 4.69% per year, registered in 2014-2018.

The average consumption per capita in value terms reached 23.35 USD per capita (in retail prices) in 2014. In the next five years, it grew at a CAGR of 2.91% per annum. In the medium term (by 2024), the indicator is forecast to slow down its growth and increase at a CAGR of 2.44% per annum.

A growing segment during the past few years has been organic chocolate, which transitioned from a popular trend into a mainstream. Since consumers' interest in organic products is constantly growing, there are many opportunities for the confectionery industry. As a result, leading brands, as well as boutiques and independent producers are introducing more indulgent organic offerings. As a matter of fact, organic has been among the most important claims when it comes to new launches in confectionery.

One of the main reasons for the acceptance of organic products is the complexity of the organic claim and the variety of concepts, associated with it. The term organic usually supports other values consumers are searching for in products. More specifically, people are looking for organic products, as they associate them with sustainability and fair labor claims, thus believing to make an ethical decision. Secondly, they often perceive organic products as natural and healthier ones. In addition, organic claim is also connected with the ongoing free-from trend, which further meets consumers' need for a better diet.

Today, an increasing number of producers have considered the opportunity to create artisan sweets, driven by the rising interest in specialized chocolate and the growing hunger for authentic taste. They put more focus on the provenance of the raw materials and make confectionery free from artificial preservatives, colors or flavors. According to industry experts, younger generations demand delicious and authentic confectionery products with a simple, clean ingredient list. As people's palates are becoming more sophisticated, the number of boutique chocolate firms has substantially increased in the last few years, especially in Britain.

In Britain, as well as worldwide, more artisan producers have been developing new and exciting products or reinventing classic ones with a twist, incorporating unusual combinations. They have been offering consumers more variety and appealing new choices. Overall, single-origin, organic, high-cocoa, and ethical chocolate options are among the fast-growing categories in the confectionery industry. Although there is no universally accepted definition of an artisan confectionery, it is considered to be superior in taste, texture, appearance and aroma to its mass-produced counterpart.

The report on the global chocolate confectionery market covers:

• Market volume, value and dynamics for the last five years;
• Market segmentation (by region and each covered country; by product groups, etc.) for the last five years;
• Analysis of the factors, influencing the market development (market trends and insights, drivers and challenges) and the impact COVID-19 has and will have on the market in both the short and the medium term;
• Value chain analysis and structure of price formation;
• Analysis of retail price levels and their dynamics for the last five years (broken down by region and each covered country);
• Analysis of the major international trade flows;
• Volume, value, dynamics, segmentation (by region and each covered country) and analysis of imports for the last five years;
• Volume, value, dynamics, segmentation (by region and each covered country) and analysis of exports for the last five years;
• Volume and dynamics of the average import and export prices for the last five years (broken down by region and each covered country);
• Volume, value, dynamics, segmentation and analysis of per capita consumption for the last five years (broken down by region and each covered country);
• Forecast for market development in the medium term (volume, value and segmentation by region and each covered country);
• Characteristics of the main players on the market;
• Analysis of the competitive landscape;
• Five Forces analysis;
• Analysis and forecast for the global economy and demographics.
  

For more information about this report visit https://www.researchandmarkets.com/r/yxz3c5