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Europe Chocolate Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

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  • 90 Pages
  • June 2022
  • Region: Europe
  • Mordor Intelligence
  • ID: 4622724
The Europe chocolate market was valued at USD 44,762.65 million in 2022, and it is projected to register a CAGR of 4.79% during the forecast period (2022 - 2027).​

During COVID-19 pandemic mainstream chocolate consumption has remained stable; however, the craft chocolate segment witnessed a sluggish growth in European Market. As per a survey conducted by the Fine Cacao and Chocolate Institute (FCCI) to better understand the impact of COVID-19 on small chocolate businesses, the cancelation of industry events was a major cause for the decline in craft chocolate sales. Additionally, the lower consumer demand played an important role.

The European chocolate market is highly competitive, with numerous leading players accounting for the majority of the market share. The increasing demand and growing popularity of dark and organic chocolates are fueling market growth. Furthermore, seasonal demand plays an important role in chocolate sales. Various companies are launching a wide range of chocolate varieties during occasions like Easter. Factors such as the shape, innovation, mix of multiple flavours and packaging of chocolates are the key strategies adopted by companies to attain maximum sales during a festive season.

Health concerns related to high sugar content are restraining the market, but dark and premium chocolates are taking over the market share. Companies evolve with innovative models and new trends that are shifted to health and human well-being, attracting a customer base and brand equity.

Key Market Trends

Complying with "Better-for-you" and "Free-from" Products​

The rise in health consciousness among European consumers and the resulting increase in awareness about the disadvantages of consuming sugar enriched confectionery, fuels the sales of organic chocolate, sugar-free chocolates and Vegan chocolates in the European market.​ Pertaining to the rising demand for vegan and organic chocolates, leading players are launching innovative organic chocolates to sustain themselves in the long run. For instance, the luxury chocolate brand, Love Cocoa, introduced the first-ever vegan chocolate with avocado in Europe. It is made from 100% natural freeze-dried avocado powder. Furthermore, companies are introducing new packaging solutions to increase the shelf life of products, thus reviving consumers’ interest in their chocolate brands.

Domination of Germany in the Europe Chocolate Market

Germany has one of the largest cocoa and chocolate markets, both, in the bulk and specialty segments, creating many opportunities for the producing country as an export destination. However, since the bulk market has already reached its saturation point, the specialty cocoa and chocolate market has been gaining momentum. This is supported by the increased demand for darker chocolate, and the large organic and sustainable cocoa market. As per Eurostats, Germany imports a large share of cocoa beans from its neighboring countries, where the Netherlands accounts for 45%, and Belgium accounts for 15% of the total share. Furthermore, only 40% of the total German imports are directly sourced from producing countries. Most of the cocoa beans imported are used domestically for further processing, where the country is the second-largest grinder in Europe, after the Netherlands. The key players in the market include companies, such as Mondelez, Ferrero, and Mars. These leading companies have established their manufacturing facilities in Germany, thus, dominating the market. On average, the country constitutes over 230 chocolate producers, where some of the major manufacturers include Hachez, Ludwig Schokolade, and Ritter Sport.

Competitive Landscape

The Europe chocolate market is consolidated, with the significant presence of top players, namely, Chocoladefabriken Lindt & Sprungli AG, The Hershey Co., Ferrero Group, Mondelez International, and Nestle SA. The leading players in the market enjoy a dominant presence in both Europe and worldwide operations. Brand loyalty among the consumers gives these companies an upper edge over competitors operating in the market. Major players in the market studied have been building an appetite for higher-priced chocolates among young consumers by increasing accessibility and innovative products depending on perceived value of customers.

Additional Benefits:

  • The market estimate (ME) sheet in Excel format
  • 3 months of analyst support

This product will be delivered within 2 business days.

Table of Contents

1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5.1 By Product Type
5.1.1 Softlines/Selflines
5.1.2 Boxed Assortments
5.1.3 Countlines
5.1.4 Seasonal Chocolates
5.1.5 Molded Chocolates
5.1.6 Other Product Types
5.2 By Distribution Channel
5.2.1 Supermarkets/Hypermarkets
5.2.2 Specialist Retailers
5.2.3 Convenience Stores
5.2.4 Online Retail
5.2.5 Other Distribution Channels
5.3 Geography
5.3.1 France
5.3.2 Germany
5.3.3 United Kingdom
5.3.4 Spain
5.3.5 Italy
5.3.6 Russia
5.3.7 Rest of Europe
6.1 Strategies Adopted by Leading Players
6.2 Market Share Analysis
6.3 Most Active Companies
6.4 Company Profiles
6.4.1 Mondelez International Inc.
6.4.2 Ferrero International SA
6.4.3 Mars Incorporated
6.4.4 Chocoladefabriken Lindt & Sprungli AG
6.4.5 Hershey Co.
6.4.6 Arcor
6.4.7 Pladis
6.4.8 Yildiz Holding
6.4.9 Nestle SA
6.4.10 Valrhona Inc.

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • Mondelez International Inc.
  • Ferrero International SA
  • Mars Incorporated
  • Chocoladefabriken Lindt & Sprungli AG
  • Hershey Co.
  • Arcor
  • Pladis
  • Yildiz Holding
  • Nestle SA
  • Valrhona Inc.