Chocolate Market in Europe Analysis Highlights the Impact of COVID-19 (2020-2024) | Demand for Seasonal Chocolates to boost the Market Growth | Technavio

LONDON--()--Technavio has been monitoring the chocolate market in Europe and it is poised to grow by USD 15.08 billion during 2020-2024, progressing at a CAGR of almost 5% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.

Although the COVID-19 pandemic continues to transform the growth of various industries, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. Technavio’s in-depth research has all your needs covered as our research reports include all foreseeable market scenarios, including pre- & post-COVID-19 analysis. Download a Free Sample Report on COVID-19 Impacts

The market is fragmented, and the degree of fragmentation will accelerate during the forecast period.

Frequently Asked Questions-

1. What was the value of the chocolate market in Europe in 2019?

A. Technavio says that the value of market was at USD 56.96 billion in 2019 and is projected to reach USD 72.04 billion by 2024.


2. At what CAGR is the market projected to grow during the forecast period 2020-2024?

A. Growing at a CAGR of almost 5%, the market growth will accelerate in the forecast period of 2020-2024.


3. What is the key factor driving the market?

A. Demand for seasonal chocolates is one of the key factors driving the market growth.


4. Who are the top players in the market?

A. AUGUST STORCK KG, Chocoladefabriken Lindt & Sprüngli AG, Ferrero International SA, Mars Inc. are some of the major market participants.


5. Which region is expected to hold the highest market share in the market?

A. Western Europe


6. What is the major market driver for chocolate market in Europe?

A. The growing influence of online retailing is a major growth factor for the market.

To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

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Demand for seasonal chocolates has been instrumental in driving the growth of the market.

Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.

Chocolate Market in Europe 2020-2024: Segmentation

Chocolate Market in Europe is segmented as below:

  • Product
    • Milk Chocolate
    • Dark Chocolate
    • White Chocolate
  • Geography
    • Western Europe
    • Eastern Europe

To learn more about the global trends impacting the future of market research, download a free sample:

Chocolate Market in Europe 2020-2024: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The chocolate market in Europe report covers the following areas:

  • Chocolate Market Size in Europe
  • Chocolate Market Trends in Europe
  • Chocolate Market Analysis in Europe

This study identifies the growing influence of online retailing as one of the prime reasons driving the chocolate market growth in Europe during the next few years.

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.

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Chocolate Market in Europe 2020-2024: Key Highlights

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will assist chocolate market growth in Europe during the next five years
  • Estimation of the chocolate market size in Europe and its contribution to the parent market
  • Predictions on upcoming trends and changes in consumer behavior
  • The growth of the chocolate market in Europe
  • Analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of chocolate market vendors in Europe

Table of Contents:

Executive Summary

  • Market Overview

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2019
  • Market outlook: Forecast for 2019 - 2024

Five Forces Analysis

  • Five Forces Summary
  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by Product

  • Market segments
  • Comparison by Product placement
  • Milk Chocolate - Market size and forecast 2019-2024
  • Dark chocolate - Market size and forecast 2019-2024
  • White chocolate - Market size and forecast 2019-2024
  • Market opportunity by Product

Customer Landscape

  • Overview

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • Western Europe - Market size and forecast 2019-2024
  • Eastern Europe - Market size and forecast 2019-2024
  • Market opportunity by geography
  • Volume driver - Demand led growth
  • Market challenges
  • Market trends

Vendor Landscape

  • Overview
  • Landscape disruption

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • Chocoladefabriken Lindt & Sprüngli AG
  • Ferrero International SA
  • Mars Inc.
  • Mondelez International Inc.
  • Nestlé Group
  • Neuhaus NV
  • Roshen Corp.
  • The Hershey Co.
  • YiIdiZ Holding Inc.


  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.


Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200

Release Summary

The Chocolate market in Europe will grow by USD 15.08 bn during 2020-2024


Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200