The Global Chocolate Confectionery Market was valued at USD89.21bn in 2021, according to a recent report by Research and Markets, and growing.
The increasing population combined with the changing taste and preferences affects the beverage industries in the developing nations. Chocolate’s health claims, from antioxidant content, blood pressure-lowering capabilities, and anti-aging benefits are driving consumer acceptance of chocolate and chocolate products. Chocolate remains a top flavor in treating, so manufacturers and brands are taking cocoa into new formats and categories to meet this new demand. As a result, chocolate categories continue to mutate while snacking and gifting are going through a little revolution.
Among product types, dark chocolate is the fastest growing segment. Dark chocolate is believed to have strong antioxidant content and flavonoids that might prevent disease.
Chocolate confectionery manufacturers engage in a variety of marketing and promotional efforts to promote product awareness among their target end-user categories. The companies are increasingly promoting product lines that are free of trans fats, saturated fat, and artificial flavors and sweeteners in favor of ingredients such as organic wheat flour, cane sugar, rice syrup, and cornstarch.
Asia Pacific holds the largest market share in the Global Chocolate Confectionery Market. Large population along with high disposable income in Asia is the major factor propelling its highest global share.