Seasonal chocolate market set to deliver multi-billion growth
Chocolate pieces with cocoa powder in bowl and cinnamon on wooden table
Demand for seasonal chocolate ranges is set to soar by a total of $9 billion over the next four years, according to latest studies from Technavio, writes Neill Barston.
The organisation forecast that there would be compound annual growth of 5.99% during that period, with dark varieties within the category set to be among the most prominent in its evaluation of the market.
As Confectionery Production has noted, key Easter, Halloween and Christmas periods have formed the major backbone of the industry, though the emergence of other seasonal occasions, such as national candy month in June for the US, were also becoming more influential.
According to Technavio, some of the popular offerings include seasonal dark chocolates with mint, wasabi, and whole grapes flavour, soaked and surrounded by rum, enhanced with naturally sweet strawberry pieces and passionfruit/lychee.
Hence, the demand for dark seasonal chocolate is expected to increase in the next five years and will contribute significantly to the overall global seasonal chocolates market. Technavio offers in-depth market insights that assist global businesses to obtain growth opportunities.
Among the key players in seasonal chocolate production highlighted in its study, included Cemoi, Lindt and Sprungli AG, Ferrero International S.A., Gayles Chocolates, Hotel Chocolat Group plc, Lotte Corp., Marks and Spencer Plc, Mars Inc., Meiji Holdings Co. Ltd., Mondelez International Inc., Nestle SA, The Hershey Co..
To help businesses improve their market position, Technavio’s report provides a detailed analysis of around 15+ vendors operating in the market.
Within its studies, the report asserted that to leverage the current opportunities, market vendors must strengthen their foothold in the fast-growing segments, while maintaining their positions in the slow-growing segments.
Backed with competitive intelligence and benchmarking, our research reports on the seasonal chocolates market are designed to provide entry support, customer profile & M&As as well as go-to-market strategy support.