Industry research reveals global chocolate market nears $90 billion mark
Dark chocolate stack, chips and powder
The international chocolate confectionery market has been put at a value of $89.21 billion in 2021, according to latest analysis from ResearchAndMarkets.com.
Among the key factors for a strong period of trading were an increasing global population, together with changing tastes and preferences in developing nations.
According to the market research group, chocolate’s antioxidant content, blood pressure-lowering capabilities, and ostensibly anti-aging benefits are all driving consumer acceptance of chocolate and chocolate products.
Furthermore, the category remains a top flavour 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.
The research also found that among product type, dark chocolate is the fastest growing segment, which was attributed to factors including strong antioxidant content protecting against disease-causing free radicals, while flavonoids included in these chocolates aid in cancer prevention, heart health, and cognitive abilities.
Cocoa polyphenols in dark chocolate, according to numerous research, aid in cholesterol control, and some studies confirm that dark chocolate has a higher antioxidant capacity than many super foods, thus driving the demand of chocolates in the industry.
As the organisation noted, companies are increasingly promoting product lines that are free of trans fats, saturated fat, and artificial flavours and sweeteners in favour of ingredients such as organic wheat flour, cane sugar, rice syrup, and corn starch.
The research revealed, that the Asia-Pacific area holds the largest market share in Global Chocolate Confectionery Market, due to large populations along with comparatively high disposable income in Asia is the major factor propelling its highest international rankings.
The report covers a number of key areas of the market, examining its performance over the past four years, examining dark, milk and and white segments, exploring how it has performed across international markets.