World - Chocolate And Cocoa Products - Market Analysis, Forecast, Size, Trends and Insights
Update: COVID-19 Impact
Global Chocolate Market to Reach 20.2M Tonnes by 2025
Photo: © derepente / Bigstockphoto
According to market research conducted by IndexBox, the global chocolate market had total revenues of X million USD in 2015, which was X million USD (or X%) less than the year before. In physical terms, the market fell slightly over the last year, amounting for X thousand tonnes. However, the market represented a compound annual growth rate (CAGR) of +X% from 2007 to 2015.
The countries with the highest consumption were the U.S., Germany, Russia, Brazil, and Italy together comprising near X% of global consumption. The highest annual growth rates of chocolate and cocoa products consumption from 2007 to 2015 were recorded in Russia, with +X% growth, Italy and Brazil, with +X% per year and +X% growth, respectively. Following significant consumption growth rates, Russia significantly strengthened its share in terms of the global consumption from X% in 2007 to X% in 2015. By contrast, the share of the U.S. and Germany declined over the period under review.
Driven by global population growth, rapid urbanization and changing lifestyles in Asia, the chocolate and cocoa products market as a whole is projected to continue an upward consumption trend over the next nine years. The performance of the market is forecast to stay positive, with an anticipated CAGR of +X% for the nine-year period from 2015 to 2025, which is expected to lead the market value to X million tonnes by the end of 2025.
Developed Western countries (USA, Canada, European countries) are the largest consumers of chocolate, where it has long-become a traditional treat not only as a dessert, but as a snack, as well. Brazil and Russia can also be noted among the leaders in chocolate consumption. The volume of chocolate consumption in these two countries grew in the last several years due to an increase in the income of the population.
Asian countries, despite their large population, are not among the largest consumers of chocolate. This, on the other hand does indicate that dynamically growing Asian countries have the largest potential for chocolate and confectionery consumption growth. While there is no basis to predict significant growth of consumption volumes in Europe and North America, the growth potential in Asia is supplemented by rising disposable incomes and changing lifestyles in Asian countries. Increase of the population's income, continuing urbanization and the increasing popularity of the western lifestyle lead to an increase of poplarity of western products, including chocolate. Furthermore, the population growth of Asian countries also contributes into the chocolate market growth prospects.
Do you want to know more about the global chocolate market? Get the latest trends and insight from our report. It includes a wide range of statistics on
- chocolate market share
- chocolate prices
- chocolate industry
- chocolate sales
- chocolate market forecast
- chocolate price forecast
- key chocolate producers
Source: IndexBox AI Platform
This report provides an in-depth analysis of the global chocolate market. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2025.
Making Data-Driven Decisions to Grow Your Business
A Quick Overview of Market Performance
Understanding the Current State of The Market and Its Prospects
Finding New Products to Diversify Your Business
Choosing the Best Countries to Establish Your Sustainable Supply Chain
Choosing the Best Countries to Boost Your Exports
The Latest Trends and Insights into The Industry
The Largest Importers on The Market and How They Succeed
The Largest Exporters on The Market and How They Succeed
The Largest Producers on The Market and Their Profiles
The Largest Markets And Their Profiles
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