The global demand for chocolate is now showing recovery and leading suppliers such as Barry Callebaut are now forecasting stabilization of demand in the key markets worldwide. By 2020, the United States is expected to be the largest consumer of chocolate globally, followed by Russia. Amongst the BRIC nations, while India and China are nations projected to have the highest chocolate market growth in the period 2015-2020, economic conditions in Brazil and Russia have been hampering the chocolate market’s growth.
It is expected that the global chocolate market will grow at a CAGR of approximately to 5% through 2020. New flavours coupled with product packaging innovations will be the trend going forward. World over there is growth potential in the customized and luxury chocolate segments. People have a rising affinity for handcrafted chocolate and many startups are dappling in the art of chocolate making. Popularity of premium chocolates is on the rise particularly in the United States and Brazil. While rising obesity and health concerns world wide is a challenge for the growth of the sector, there is also growing awareness about the benefits of dark chocolate. Players have also been introducing low sugar and sugarless chocolates.
In 2014 the per capita consumption of chocolate in China was just 0.2 kgs as compared with 2.5 kgs per person in Brazil, 0.7 kgs per person in India and 2.2 kgs in United States. Hence, a huge untapped potential exists in the market. However, the recent government corruption crackdown has dampened the chocolate market in China. It is projected that the Chinese chocolate market will grow by 47% by 2020. As compared with other parts of the world, the Chinese customers are more conservative in their taste and prefer to consume chocolate brands and flavours that they grew up with rather than trying newer ones.
A challenge facing the market is that Chinese customers do not trust home grow brands due to food safety issues. They have a greater affinity for foreign chocolate brands, close to 70% of the Chinese chocolate market is controlled by European brands. Other than the food safety concern, the poor performance of local chocolate brands can be attributed primarily to poor marketing efforts.
Why should the report be purchased?
The report ‘A Study of China's Chocolate Market 2017’ highlights key dynamics of the global, and China’s chocolate market. The potential of the sector has been investigated along with the emerging trends. The current market scenario and future prospects of the sector has also been studied. The report contains profiles of key players including Nestle S.A., Mars Foods, Ferrero Rocher, The Hershey Company, Mondelez International Inc. and Jiangsu Liangfeng Food Group. The report contains latest opinions of industry experts.
Research methodology and delivery time
The author has conducted in depth secondary research to arrive at key insights. Data collected from key public industry sources and publications has been scanned and analyzed impartially to present a clear picture of the industry. All recent developments which impact the sector dynamics have been captured and used to support the research hypothesis.
The report is available in soft as well as hard copy format. The delivery time for the electronic version of the report is 3 business days. The dispatch time for hard copies is 4 business days, as each hard copy is custom printed for the client.
1. Analyst Opinion
2. Global Chocolate Market
2.2 Market Statistics & Performance
2.4 Industry Speak
3. China Chocolate Market
3.2 Market Statistics & Performance
3.3 Market Drivers
3.4 Emerging Trends
3.7 Industry Speak
4. Competitive Landscape
4.1 Nestle S.A.
4.2 Mars Foods
4.3 Ferrero Rocher
4.4 The Hershey Company
4.5 Mondelez International Inc.
4.6 Jiangsu Liangfeng Food Group
5. List of Charts and Graphs
6. Research Methodology
List of Charts and Graphs
1. Global Forecast Leading Chocolate Consuming Countries (2020, thousand tons)
2. Global Total Chocolate Consumption (1999, 2009 & 2020 P, million tonnes)
3. Global Top Eight Confectionery Companies Net Confectionary Sales (2015, USD millions)
4. Global Per capita consumption of Chocolate Confectionery by Key Markets (2015, kilograms)
5. Global Chocolate Consumption (1999-2020 E, million tonnes)
6. Global Chocolate Consumption (2012-2019 E, million tonnes)
7. China Chocolate Market Share by Players (%, 2014)
8. China Chocolate Market Size (2014-2019 E, tonnes)
9. China Retail Sales of Chocolate (2010-2015, billion USD)