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Global Luxury Chocolates Market - Market Size & Forecasting (2017-2028)

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  • 136 Pages
  • February 2021
  • Region: Global
  • Quince Market Insights
  • ID: 5514229
The luxury chocolate market is estimated to be USD 16,543.2 million in 2020 and is projected to reach USD 33,764.5 million by 2028, at a CAGR of 9.3% during the forecast period in the COVID-19 period. However, without the COVID-19 impact, the luxury chocolates market is expected to be at USD 16,630.9 million in 2020 and USD 34,333.4 million in 2028, with a CAGR of 9.5%.

Growing demand for chocolate in developing countries is due to the increasing income levels and changing eating habits of individuals. Innovations in the packaging of chocolates and their use as a gift also contribute to the development of the global market. Some of the noteworthy findings of the market include rising health benefits related to dark chocolates that are rich in cocoa, increasing demand for premium-based dark chocolates, and a desire for innovation of various flavored premium chocolates, which are expected to propel the growth of the market.

According to the National Institute of Mental Health, 40 million people in the U.S. are affected by anxiety disorders, accounting for 18% of the total population. Eating chocolate increases brain serotonin and acts as an antidepressant. It also releases endorphins in the body, which produces the feels-good effect. These factors are expected to boost the demand for luxury chocolate in the forecast period.

Luxury chocolate is perhaps the most commonly used phrase, and this best defines the pure indulgence experienced with the creamy chocolate texture of melted chocolate and the full flavor that it provides when the chocolate is warmed, often covered with cream. The most indulgent types of luxurious chocolate are certainly the most abused types of chocolate in their make-up, and many chocolate truffles use hydrogenated fats as a more cost-effective replacement for 100% cocoa butter.

This research report categorizes the market for luxury chocolates based on various segments and region and forecasts revenue growth and analysis of trends in each of the submarkets. The report analyses the key growth drivers, opportunities and challenges which influence the luxury chocolates market. Recent market developments and competitive strategies such as expansion, product launch and development, partnership, merger and acquisition have been included in order to draw the competitive landscape in the luxury chocolates market. The report strategically identifies and profiles the key market players and analyses their core competencies in each segment such as fruit, nature, product type, application, and distribution channel of the luxury chocolates market

Based on the product type, the market is segmented into milk chocolate, dark chocolate, and white chocolate. Among these, the milk chocolate segment dominates the global luxury chocolate market. The large share of milk chocolate is due to the health benefits associated with white chocolates, such as regulation of fats in the body, cardiovascular benefits, and others.

Based on the distribution channel, the market is segmented into online and offline. The offline distribution channel is again segmented into convenience stores and hypermarket/supermarket. Among these, the online distribution channel is dominating the global luxury chocolate market. The online distribution channel is dominating the market, owing to the availability of maximum variety of chocolates at one place and growing usage of the internet in different countries. Moreover, the hypermarket/supermarket segment is expected to have significant growth in the forecast period, owing to the availability of all luxury and regular chocolates at a single place.

Based on the end user, the market is segmented into hotels and restaurants, in-house, and others. Among these, the hotels and restaurants segment dominates the global luxury chocolate market. The large share of hotels and restaurants segment is due to the growing use of premium chocolates as desserts and many hotels offering luxury chocolate gifts for any occasion to their customers.

By region, this market is segmented as North America, Europe, Asia Pacific, Middle East & Africa, and South America. Among these regions, the Asia Pacific region is to hold the largest share of the global luxury chocolate market in the forecast period. Rising health awareness, coupled with an increase in per capita income in this region, is expected to drive the demand and growth in luxury chocolate over the forecast period. Moreover, the Middle East and Africa region is expected to register significant growth in the forecast period.

The competitive scenario highlights the performance of major companies operating in this market. This includes detailed profiling of major companies and their competitive benchmarking. Product profiling provides key information including products/solutions offered, key developments, company performances, and strategies adopted in recent years. The major companies profiled include Godiva, Hotel Chocolat, Prestat, Lindt & Sprugli, Guylian, Artisan du Chocolat, Montezuma, Bettys, Maison Pierre Marcolini, Fifth Dimension, and others. These companies have adopted product development, expansion, and merger strategies to consolidate their market position amid intense competition.

Table of Contents

1 Market Abstract
2 Market Introduction
2.1 Market Scope
3 Qmi Research Practice
3.1 Research Practice
3.1.1 Supply Based Analysis
3.1.2 Demand Based Analysis
3.1.3 Global Level Analysis
3.1.4 Country Level Analysis
3.1.5 Triangulation
3.2 Primary Data
3.3 Secondary Data
3.4 Market Evaluation & Forecasting Methodology
3.5 Assumptions/ Limitations for the Study
3.6 What this Study Provides
3.7 Key Questions Answered by this Report
3.8 this Study is Intended for
4 Key Related Data
4.1 Competitive Positioning
4.1.1 Product Positioning
4.1.2 Regional Reach Positioning
4.2 Distributional Channel Analysis
4.3 Major Investments in the Last Five Years by Global Players
4.4 Key Industry Trends in Major Countries
4.4.1 U.S.
4.4.2 India
4.4.3 Germany
4.4.4 Spain
4.5 Standards and Regulations
4.5.1 Standards
4.5.2 Regulations
4.6 Covid- 19 Impact on Luxury Chocolates Market
4.6.1 Global Analysis (Region Wise) U.S. Russia Germany France Italy China Japan
5 Impact Factor Analysis
5.1 Drivers/Restraints/Opportunities/Challenges
5.1.1 Drivers Growing Demand for Luxury Chocolate During Occasions Growing Awareness Among Population Regarding Medical Advantages of Chocolate
5.1.2 Restraints High Cost of Luxury Chocolates Products
5.1.3 Opportunities Increasing Demand for Luxury Chocolates as Gifts
5.1.4 Challenges Health Connotation of Chocolate
5.2 Porter's Five Forces Model
6 Market Development Analysis
6.1 Overview
6.2 Agreements, Partnership & Collaborations (2015-2020)
6.3 Product Launch (2015-2020)
6.4 Merger and Acquisitions (2015-2020)
6.5 Expansions and Investments (2015-2020)
7 Luxury Chocolates Market, by Product Type
7.1 Introduction
7.2 Milk Chocolate
7.3 Dark Chocolate
7.4 Luxury White Chocolates
8 Luxury Chocolates Market, by Distribution Channel
8.1 Introduction
8.2 Online
8.3 Offline
8.4 Offline by Type.
9 Luxury Chocolates Market, by End-user
9.1 Introduction
9.2 Hotels and Restaurants
9.3 In-House
9.4 Others
10 Luxury Chocolates Market, Regional Analysis
10.1 Introduction
10.2 North America
10.2.1 North America Luxury Chocolates Market - by Product Type
10.2.2 North America Luxury Chocolates Market - by Distribution Channel North America Luxury Chocolates Market - by Offline Distribution Channel
10.2.3 North America Luxury Chocolates Market - by End-user
10.2.4 U.S.
10.2.5 Canada
10.2.6 Mexico
10.3 Europe
10.3.1 Europe Luxury Chocolates Market - by Product Type
10.3.2 Europe Luxury Chocolates Market - by Distribution Channel Europe Luxury Chocolates Market - by Offline Distribution Channel
10.3.3 Europe Luxury Chocolates Market - by End-user
10.3.4 Germany
10.3.5 UK
10.3.6 France
10.3.7 Italy
10.3.8 Spain
10.3.9 Russia
10.3.10 the Netherlands
10.3.11 Rest of Europe
10.4 Asia-Pacific
10.4.1 Asia-Pacific Luxury Chocolates Market - by Product Type
10.4.2 Asia-Pacific Luxury Chocolates Market - by Distribution Channel Asia-Pacific Luxury Chocolates Market - by Offline Distribution Channel
10.4.3 Asia-Pacific Luxury Chocolates Market - by End-user
10.4.4 China
10.4.5 Japan
10.4.6 India
10.4.7 South Korea
10.4.8 Taiwan
10.4.9 Malaysia
10.4.10 Rest of Asia-Pacific
10.5 Middle East & Africa
10.5.1 Middle East & Africa Luxury Chocolates Market - by Product Type
10.5.2 Middle East & Africa Luxury Chocolates Market - by Distribution Channel Middle East & Africa Luxury Chocolates Market - by Offline Distribution Channel
10.5.3 Middle East & Africa Luxury Chocolates Market - by End-user
10.5.4 Uae
10.5.5 Saudi Arabia
10.5.6 Qatar
10.5.7 Turkey
10.5.8 South Africa
10.5.9 Rest of Middle East & Africa
10.6 South America
10.6.1 South America Luxury Chocolates Market - by Product Type
10.6.2 South America Luxury Chocolates Market - by Distribution Channel South America Luxury Chocolates Market - by Offline Distribution Channel
10.6.3 South America Luxury Chocolates Market - by End-user
10.6.4 Brazil
10.6.5 Argentina
10.6.6 Rest of South America
11 Company Profile
11.1 Bettys & Taylors of Harrogate Ltd.
11.1.1 Company Overview
11.1.2 Bettys & Taylors of Harrogate Ltd: Product Overview
11.2 Mars, Incorporated
11.2.1 Company Overview
11.2.2 Mars, Incorporated: Product Overview
11.3 Nestle Sa
11.3.1 Company Overview
11.3.2 Nestle Sa: Financial Overview
11.3.3 Nestle Sa: Product Overview
11.3.4 Nestle Sa.: Key Developments (2017-2020)
11.4 Prestat Ltd.
11.4.1 Company Overview
11.4.2 Prestat Ltd.: Product Overview
11.5 Artisan Du Chocolat.
11.5.1 Company Overview
11.5.2 Artisan Du Chocolat: Product Overview
11.6 Chocoladefabriken Lindt & Sprüngli AG
11.6.1 Company Overview
11.6.2 Chocoladefabriken Lindt & Sprüngli Ag: Financial Overview
11.6.3 Chocoladefabriken Lindt & Sprüngli Ag: Product Overview
11.6.4 Chocoladefabriken Lindt & Sprüngli Ag.: Key Developments (2017-2020)
11.7 Hotel Chocolat
11.7.1 Company Overview
11.7.2 Hotel Chocolat : Financial Overview
11.7.3 Hotel Chocolat : Product Overview
11.8 Ferrero International Sa
11.8.1 Company Overview
11.8.2 Ferrero International Sa: Financial Overview
11.8.3 Ferrero International Sa: Product Overview
11.8.4 Ferrero International Sa: Key Developments (2015-2020)
11.9 Hershey Company
11.9.1 Company Overview
11.9.2 Hershey Company: Financial Overview
11.9.3 Hershey Company: Product Overview
11.9.4 Hershey Company: Key Developments (2015-2020)
11.10 Yildiz Holding
11.10.1 Company Overview
11.10.2 Yildiz Holding: Financial Overview
11.10.3 Yildiz Holding: Product Overview
11.10.4 Yildiz Holding: Key Developments (2015-2020)
11.11 Fifth Dimen Sion Chocolates
11.11.1 Company Overview
11.11.2 Fifth Dimension Chocolates: Product Overview
11.12 Guylian Chocolates
11.12.1 Company Overview
11.12.2 Guylian Chocolates: Product Overview
11.13 Maison Pierre Marcolini Chocolates
11.13.1 Company Overview
11.13.2 Maison Pierre Marcolini: Product Overview
11.14 Montezuma's Chocolates
11.14.1 Company Overview
11.14.2 Montezuma's Chocolates: Product Overview
11.15 August Storck Kg
11.15.1 Company Overview
11.15.2 August Storck Kg: Product Overview
12 Additional Customization
12.1 Luxury Chocolate Retail Stores Globally
12.2 Luxury Chocolate Brand Performance
12.2.1 the Hershay Company
12.2.2 Ferrero
12.2.3 Yildiz Holding
12.2.4 Guylian
12.2.5 Montezuma
12.2.6 Lindt & Sprüngli
12.2.7 Nestle Sa
12.2.8 Hotel Chocolat
12.2.9 Prestat Ltd
12.2.10 Mars Corporation
12.2.11 Bettys & Taylors of Harrogate Ltd.
13 Appendix
13.1 List of Abbreviation
13.2 Key Related Reports

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Bettys & Taylors of Harrogate Ltd
  • Mars Incorporated
  • Nestle Sa
  • Prestat Ltd
  • Artisan Du Chocolat
  • Chocoladefabriken Lindt & Sprüngli Ag
  • Hotel Chocolat
  • Ferrero International Sa
  • Hershey Company
  • Yildiz Holding
  • Fifth Dimension Chocolates
  • Guylian Chocolates
  • Maison Pierre Marcolini Chocolates
  • Montezuma’S Chocolates
  • August Storck Kg