China Chocolate Market Share, Analysis, Growth, Report 2022 - 27 (2024)

FAQs

How much is the chocolate industry worth 2022? ›

As of 2022, the global chocolate industry is worth $127.9 billion USD.

The India chocolate market size reached US$ 2.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 4.1 Billion by 2028, exhibiting a growth rate (CAGR) of 8.8% during 2023-2028.

The market size of the Chocolate & Confectionery Production industry is expected to increase 4.4% in 2022.

Switzerland is the country that is responsible for the most amount of chocolate consumed per capita. Even though there are certainly countries across the globe that consume more total chocolate than Switzerland, Switzerland consumes the most chocolate per person.

Chocolate makers are expected to raise prices this year because of higher costs of cocoa from exporters like Ivory Coast. The West African country is the world's largest cocoa producer. Hershey is the largest producer of chocolate products in the United States.

1. Cadbury Chocolates. Cadbury Dairy milk chocolates are some of the best chocolates in India and the world's largest brands of chocolates. The whole process of manufacturing these chocolates is done from their factory in India using locally harvested cocoa.

Market Size in 2021:

US $ 131.37 Bn.

Who is the target market for chocolate? ›

When it comes to age, chocolate is popular among everyone. However, the biggest consumers are aged between 18-35 years old.

Most product types are increasing in average price from 2019-2021. Chocolate blocks are the only product decreasing in price from last year. With more shoppers buying chocolate bars, the average pricing is getting lower this time of year, but that is consistent with 2021.

The market size of the industry has declined faster than the rest of the economy in general. The main negative factors affecting market growth in the industry are high import costs and intense competition.

According to the Association of Chinese Chocolate Manufacturers, China's per capita consumption is 70g every year. Japan and South Korea consume about 2kg, while in Europe, the average chocolate consumption is 7kg per person per year.

The four top chocolate-producing countries are Germany, Belgium, Italy, and Poland. Belgium is one of the largest producers, and much of the chocolate is still made by hand.

Limited Cocoa Supply Means Higher Chocolate Prices

The prices of these commodities are driven, for the most part, by the commodities market, which sets the price based on supply and demand levels and can result in varying levels of volatility on commodity prices. Overall, the greatest price factor is the cost of cocoa.

The US chocolate market is valued at around $20 billion. That number is expected to reach $26 billion by the end of 2026. The confectionary industry which includes makers of chocolate, candy, gum and mints generates $37 billion in retail sales domestically each year, according to the National Confectioners Association.

Chocolate is a favorite for many investors, too. The industry is dominated by a handful of snack food conglomerates, though, and average growth for these companies is pedestrian. But if slower but more stable growth paired with dividend income is what you're after, chocolate stocks are worth a look right now.

5 Star is a chocolate bar produced by Cadbury's and sold in India, Indonesia, Malaysia, Brazil, South Africa, the Philippines and Egypt. It is described as a "caramel and nougat" mix covered with "smooth milk chocolate" and is sold in a golden wrapper decorated with stars.

Which chocolate is best for brain? ›

Dark chocolate may also improve the function of your brain. Studies show that eating high flavanol cocoa can improve blood flow to the brain in young adults. This may explain why eating cocoa daily appears to improve attention, verbal learning, and memory ( 17 ).

1. Snickers Bar. Snickers Bars are a classic candy bar that combines chocolate, nougat, peanuts, and caramel. The Snickers Bar was first introduced in 1930 by Mars, Inc.

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Visually chocolate should be glossy. Hearing: it should have a crisp and firm break with a satisfying snap. Touch test: hold a piece of chocolate in your hand for 20 seconds Ð it should start melting. Taste test: melt in the mouth smooth and silky with a lingering after taste.

According to self-described fair trade proponents including Ghanaian cooperative Kuapa Kokoo, "Big Chocolate" companies are Mondelez (which owns Cadbury), Mars, Nestlé, and The Hershey Company. Together these companies process about 12% of the world's 3 million tons of cocoa each year.

The four target markets are geographic, demographic, psychographic, and behavioral.

Chocolate consumption is particularly high among the supposedly more health-conscious generation: the 25 to 34-year-olds. In this age group, a whopping 34% say they eat chocolate every day.

What motivates people to buy a chocolate? ›

The FCIA study found that the top purchase motivators for fine chocolate were pleasure, gifts, health, and environmental impact, while the NCA study reported that among fine chocolate buyers, the top motivations for purchasing fine chocolate were that it tastes better, is more satisfying, makes a good gift, and ...

The purest form of chocolate is raw cacao, better known as “Food of the Gods” by the ancient Aztecs. Cacao is bursting with nutrients making it one of nature's most perfect superfoods.

Dark chocolate is best for you because it's the least processed chocolate, which means it contains the highest percentage of flavonoid-filled cocoa bean (cocoa).

Amul dark chocolate is a bar of smooth, creamy-textured chocolate that's very delicious.

I think we can all agree the cocoa sector faces major challenges – from pests, diseases and climate change, to deforestation and the inadequate incomes most cocoa farmers currently earn.

The industry has seen an increase in ethical, sustainable production, product diversification, healthier product options and premium chocolate from speciality stores.

The global chocolate market size was estimated at USD 113.16 billion in 2021 and is anticipated to grow at a compound annual growth rate (CAGR) of 3.7% from 2022 to 2030. Consumer consciousness regarding the health benefits of eating high-quality chocolate, which remains the key driver of the market.

The house's La Madeline au Truffe is one of its most sought-after and expensive chocolates. It was titled the 'most expensive chocolate in the world' by Forbes in 2009, as per its official website. The gorgeous chocolate ganache is made of 70 percent Valrhona dark chocolate, heavy cream, sugar, truffle oil and vanilla.

In an inflationary environment, unevenly rising prices inevitably reduce the purchasing power of some consumers, and this erosion of real income is the single biggest cost of inflation. Inflation can also distort purchasing power over time for recipients and payers of fixed interest rates.

Cacao trees only prosper under specific conditions, including fairly uniform temperatures, high humidity, abundant rain, nitrogen-rich soil, and protection from wind. In short, cacao trees thrive in rainforests. Chocolate is now grown around the globe—typically within 10° north and south of the equator.

Is there a chocolate shortage now? ›

Yes, there are supply chain issues in candy land, such as a shortage of ingredients such as cocoa. The COVID-19 pandemic and the war in Ukraine have had an impact on confectioners, including Pennsylvania-based Hershey Co.

What is the market size of the Chocolate Production industry in the US in 2022? The market size, measured by revenue, of the Chocolate Production industry is $18.4bn in 2022.

So, after all of these enormous costs to run the chocolate factory, what is the company's worth? The estimate here is that Mr. Wonka's company is worth $21.5 billion—which is about on par with the worth of real-life chocolate mogul, Cadbury.

The chocolates from Lindt taste incredibly high-quality, creamy, and delicious, so it's no secret the brand snagged our No. 1 spot. We love the taste, no doubt, and feel like you can never go wrong with grabbing a bag of Lindt Lindor truffles or a Lindt Excellence Chocolate bar.

About 70 percent of the world's cocoa beans come from four West African countries: Ivory Coast, Ghana, Nigeria and Cameroon.

United States chocolate market

Overall, the United States is the leading world market for confectionery of any kind. The U.S. cocoa & chocolate market is estimated to be worth 9.67 billion U.S. dollars. The country is also the worldwide leading importer of chocolate and products with chocolate.

Global Chocolate Market size was valued at US$ 131.37 Bn in 2021 and the total revenue is expected to grow at 5.1 % through 2022 to 2029, reaching nearly US$ 195.58 Bn.

What is the most valuable chocolate? ›

Answer: To'ak's Art Series Guayasamín chocolate and House of Knipschildt's La Madeline au Truffe are some of the most expensive gourmet chocolates to try. DeLafée of Switzerland also offers a DeLafée Gold Chocolate Box that comes with an actual antique Swiss gold coin making it a royal indulgence.