Chocolate Confectionery Market to Reach $146.1 billion, Globally, by 2035 at 4.1% CAGR: Allied Market Research

One of the key reasons driving market expansion is an increase in demand for chocolate confectionery items created with organic, exotic, and functional ingredients. Furthermore, the emergence of bite-size snack sizes and on-the-go alternatives has resulted in customer convenience, favoring market growth. These are some of the major reasons driving the global chocolate confectionery industry.

/EIN News/ -- Wilmington, New Castle, Delaware , Feb. 11, 2025 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, "Chocolate Confectionery Market by Product Type (Dark chocolate, Milk chocolate, White chocolate), by Price point (Economy, Mid-range, Luxury), by Age Group (Children, Adult, Geriatric), by Distribution channel (Supermarkets/hypermarkets, Convenience stores, Pharmaceutical and Drug stores, Specialty stores, Duty-free stores, E-commerce, Others): Global Opportunity Analysis and Industry Forecast, 2024-2035". According to the report, the "chocolate confectionery market" was valued at $87.5 billion in 2023, and is estimated to reach $146.1 billion by 2035, growing at a CAGR of 4.1% from 2024 to 2035.

Prime determinants of growth

The chocolate confectionery market is expanding due to changing consumer preferences, growing disposable incomes, and a growing desire for high-end, innovative chocolate products. A larger audience has been attracted to low-sugar and organic products as a result of health-conscious tendencies. E-commerce platforms and other retail channels are being expanded to increase accessibility and market penetration. Sales are greatly boosted by seasonal and festivities because chocolates are still a popular choice for gifts. However, expansion is hampered by concerns including volatile cocoa prices, strict laws, and competition from other food products. Concerns about sustainability are additionally encouraging companies to use ethical sourcing methods and eco-friendly packaging. A growing middle class and Western influence on consumer patterns make emerging nations, especially in Asia-Pacific, attractive prospects.

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Report coverage & details:

Report Coverage	Details
Forecast Period	2024–2025
Base Year	2023
Market Size in 2023	$87.5 billion
Market Size in 2035	$146.1 billion
CAGR	4.1%
No. of Pages in Report	250
Segments Covered	Product Type, Price Point, Age Group, and Distribution Channel
Drivers	Rising Consumer Demand Health & Wellness Trends Expanding Retail & E-Commerce
Opportunities	Emerging Markets Growth Sustainable & Ethical Practices
Restraints	Fluctuating Cocoa Prices Regulatory Challenges

The milk chocolate segment to maintain its leadership status throughout the forecast period

By product type, the milk chocolate segment held the highest market share in 2023, accounting for nearly three-fifths of the chocolate confectionery market share and is estimated to maintain its leadership status throughout the forecast period. The segment growth is driven by increasing consumer preference for creamy, sweet flavors, with innovations in product varieties and packaging. The dark chocolate segment, however, showcases the fastest CAGR of 5.0% during the forecast period. The dark chocolate segment in the chocolate confectionery market is driven by rising health awareness, premiumization trends, and demand for high-cocoa content products, with growth in functional ingredients and sustainable sourcing.

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The economy segment to maintain its leadership status throughout the forecast period

By price point, the economy segment held the highest market share in 2023, accounting for more than half of the chocolate confectionery market share and is estimated to maintain its leadership status throughout the forecast period. The economy price segment in the chocolate confectionery market targets cost-conscious consumers with affordable options. Key players focus on value packs, private labels, and bulk sales to drive volume growth and market penetration. The mid-range segment, however, showcases the fastest CAGR of 4.6% during the forecast period. The mid-range chocolate confectionery market targets affordability and premium taste, attracting price-conscious consumers with high-quality chocolates, innovative flavors, and sustainable packaging, driving strong demand across global markets.

The adult segment to maintain its leadership status throughout the forecast period

By age group, the adult segment held the highest market share in 2023, accounting for nearly two-fifths of the chocolate confectionery market revenue and is estimated to maintain its leadership status throughout the forecast period. The chocolate confectionery market targeting the adult age group emphasizes premium offerings, dark chocolate varieties, functional ingredients, and wellness-focused options, appealing to health-conscious, indulgent, and flavor-exploring consumers. The geriatric segment, however, showcases the fastest CAGR of 5.2% during the forecast period. The chocolate confectionery market for the geriatric age group is growing, driven by demand for low-sugar, health-conscious options. Companies are focusing on products with functional ingredients to appeal to older consumers.

The supermarkets/hypermarkets segment to maintain its leadership status throughout the forecast period

By distribution channel, the supermarkets/hypermarkets segment held the highest market share in 2023, accounting for two-fifths of the chocolate confectionery market revenue and is estimated to maintain its leadership status throughout the forecast period. Supermarkets and hypermarkets dominate the chocolate confectionery market, offering a wide range of brands and products. These outlets provide easy access, promotional offers, and increased customer footfall, driving significant sales growth. The e-commerce segment, however, showcases the fastest CAGR of 6.8% during the forecast period. E-commerce is increasingly becoming a significant distribution channel in the chocolate confectionery market, allowing brands to reach a wider audience, offer direct-to-consumer sales, and enhance customer convenience and experience.

Europe to maintain its dominance by 2035

Based on the region, Europe held the highest market share in terms of revenue in 2023 and is likely to dominate the market during the forecast period. The Europe chocolate confectionery market is thriving, driven by growing demand for premium, organic, and artisanal products. Key trends include innovations in health-conscious and sustainable options from major brands. However, the Asia-Pacific region is expected to witness the fastest CAGR of 5.4% from 2024-2035. The Asia-Pacific chocolate confectionery market is growing rapidly, driven by increasing consumer demand, urbanization, and evolving tastes. Key trends include premium products, innovative flavors, and health-conscious options, especially in China and India.

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Leading Market Players: -

• Barry Callebaut
• Chocoladefabriken Lindt & Sprüngli AG
• Delfi Limited
• Ferrero International S.A
• Lotte Corporation
• Mars, Incorporated
• Mondelez International, Inc
• Nestle S.A
• Perfetti Van Melle
• The Hershey Company

The report provides a detailed analysis of these key players in the chocolate confectionery market. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

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