1. Market Research
  2. > Food
  3. > Processed Food Market Trends
Premium Chocolate Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

Premium Chocolate Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

  • February 2021
  • 148 pages
  • ID: 6028497
  • Format: PDF
  • Mordor Intelligence LLP
Up to $750 off Until Jun 20th 2021

Summary

Table of Contents

Search Inside

The global premium chocolate market was valued at USD 29 billion in 2020, projected to grow at a CAGR of 9.20% during the forecast period (2021 - 2026).

The premium chocolate market was impacted by low sales volumes due to the COVID-19 pandemic, including supply-side issues linked to quality and certification. The public sector is providing support to strengthen partnerships and relationships between fine cocoa producers and premium chocolate companies, to enhance the resilience of marketing infrastructure. This is expected to provide an important means of assistance to the recovery of this sub-sector.

Although chocolate is not an essential food item, consumers have been observed to engage in stockpiling of chocolates as it is a source of indulgence and comfort that consumers have seeked even in times of COVID-19. However, the Federal Association of the German Confectionery Industry (BDSI) reported that medium-sized companies were hit the hardest with 64% of manufacturers reporting the year’s business prospects more difficult than in the previous year.?

Key trends in the market impacting the market are, growing demand for organic, vegan, sugar-free, and gluten-free chocolates. With the growing awareness of the negative effects of synthetic products on health and the environment, most health-conscious and informed consumers have started using organic products.

Furthermore, the demand for limited edition chocolates plays an important role in the market studied. Various companies are launching a wide range of premium and luxury chocolate varieties during occasions, like Easter. Factors, such as the shape and packaging of chocolates, are the key strategies adopted by companies to attain maximum sales during a festive season.

Key Market Trends
Growing Demand For Dark Premium Chocolate

The influence of the organic and clean label trend is also palpable among dark chocolate manufacturers, with demand for premium and organic ingredients witnessing a spike due to their increased health benefits. This factor is expected to increase the demand for dark premium chocolate in the coming years, facilitated by the indulgence purchase of consumers. Moreover, as consumers in the United States and Europe are more informed about the health benefits of dark chocolate, and as the overall demand for packaged products is high, they are increasingly inclined toward opting for dark chocolate as a dessert option, thus increasing its demand in developed regions, as compared to the developing economies. Another major growth driver is the branding of seasonal and premium dark chocolates as gifts, primarily attracting consumers who are influenced by the price, packaging, ingredients, authenticity, or product, and the buying experience. Therefore, with the growing popularity of the product, there is a rising number of new vendors venturing in the premium dark chocolate space and an increasing number of new product launches featuring dark chocolate. For instance, ITC is launching its premium chocolate brand, Fabelle, which was sold exclusively in ITC hotels, into the mass markets. Similarly, Mondelez India announced the introduction of a new taste experience to its thriving bouquet of premium chocolates, with Cadbury Dark Milk.

Europe Remains the Largest Market

The trend of premium textured chocolate, added with grains or cereals, is growing among the chocolate consumers in the European Region. In addition, the packaging is playing an important role, as the consumers are selecting the carefully packed premium chocolate gifts with ‘high offering value’. The supermarkets, such as Aldi and Lidl in Germany, are also offering their own premium brands of chocolate. For instance, Aldo offers Moser-Roth premium chocolates to cater to the growing demand for the products in the country. The consumers are opting for premium chocolates, especially from the supermarkets, as they offer a unique addition to assortment, attractive shelf, ready packaging, in-store promotions, and consistent quality of the chocolates. The number of private-label chocolatiers in the region is also growing, with more artisanal and specialized products (such as House of Dorchester) being launched to meet the consumers’ demand in the premium chocolate market. Such companies offer premium chocolates as chocolate gifts. This factor is leading more people to purchase the product as a luxury present for gifting it on special occasions.

Competitive Landscape
The global premium chocolate market is highly competitive, with a significant presence of global and regional players. Global players that held a prominent share include Chocoladefabriken Lindt & Sprüngli AG, Ferrero SpA, the Hershey Company, Mondel?z International, and Yildiz Holding. Major players in the market studied have been building an appetite for higher-priced chocolates among young consumers, by increasing the accessibility and innovative products. Tourists and travelers are major consumers to premium chocolates across the region. Hence, players in the market studied have been expanding their presence and offerings in the travel retail sector.

Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 150+ Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
10% Off

$4250

  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.

ReportLinker may already be registered as a supplier with your company. If you want to Order by PO, check with us first and we'll let you know if we are a registered supplier and what the vendor number is. Otherwise, we'll provide you with the necessary information to register ReportLinker as a vendor.

Ahmad helps you find the right report:
Testimonials

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at
Ikea

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at
Ingredion

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

FAQ
  • How we can help
    • I am not sure if the report I am interested in will fulfill my needs. Can you help me?
    • Yes, of course. You can call us at +33(0) 4 37 65 17 03 or drop us an email at researchadvisor@reportlinker.com to let us know more about your requirements.
    • We buy reports often - can ReportLinker get me any benefits?
    • Yes. Set up a call with a Senior Research Advisor to learn more - researchadvisor@reportlinker.com or +33(0) 4 37 65 17 03.
    • I have had negative experiences with market research reports before. How can you avoid this from happening again?
    • We advise all clients to read the TOC and Summary and list your questions so that we can get more insight for you before you make any purchase decision. A research advisor will accompany you so that you can compare samples and reports from different sources, and choose the study that is right for you.

  • Report Delivery
    • How and when I will receive my Report?
    • Most reports are delivered right away in a pdf format, while others are accessed via a secure link and access codes. Do note that sometimes reports are sent within a 12 hour period, depending on the time zones. However, you can contact us to escalate this. Should you need a hard copy, you can check if this option is offered for the particular report, and pay the related fees.
  • Payment conditions
    • What payment methods do you accept?
      1. Credit card : VISA, American Express, Mastercard, or
      2. You can download an invoice to pay by wire transfer, check, or via a Purchase Order from your company, or
      3. You can pay via a Check made out in US Dollars, Euros, or British Pounds for the full amount made payable to ReportLinker
    • What are ReportLinker’s Payment Terms?
    • All payments must normally be submitted within 30 days. However, you can let us know if you need extended time.
    • Are Taxes and duties included?
    • All companies based in France must pay a 20% tax per report. The same applies to all individuals based in the EU. All EU companies must supply their VAT number when purchasing to avoid this charge.
    • I’m not satisfied. Can I be refunded?
    • No. Once your order has been processed and the publisher has received a notification to send you the report, we cannot issue any refund or cancel any order. As these are not ‘traditional’ products that can be returned, reports that are dispatched are considered to be ‘consumed’.
  • User license
    • The license that you should acquire depends on the number of persons that need to access the report. This can range from Single User (only one person will have the right to read or access the report), or Department License (up to 5 persons), to Site License (a group of persons based in the same company location), or Corporate License (the entire company personnel based worldwide). However, as publishers have different terms and conditions, we can look into this for you.
Purchase Reports From Reputable Market Research Publishers

Global Chocolate Market, By Type, By Category, By Distribution Channel, By Region, Competition, Forecast & Opportunities, 2026

  • $ 4450
  • March 2021
  • 111 pages

Global Chocolate Market, By Type (Milk Chocolate, Dark Chocolate & White Chocolate), By Category (Tablets, Countlines, Pouches & Bags, Boxed & Others), By Distribution Channel (Supermarkets/Hypermarkets, ...

  • World
  • Chocolate
  • Industry analysis
  • Cocoa Production
  • Chocolate Price

Packaged Food in Uzbekistan $ 7150 January 2021

Packaged Food in Brazil $ 7150 January 2021

Packaged Food in Nigeria $ 7150 December 2020

Packaged Food in Belarus $ 7150 December 2020

Packaged Food in Latvia $ 7150 December 2020

Packaged Food in Egypt $ 7150 December 2020

Packaged Food in Mexico $ 7150 December 2020


ref:plp2021

Reportlinker.com © Copyright 2021. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.

Make sure you don’t miss any news and follow us on