Global Crunchy Chocolates Market Analysis

Market Overview

The global Crunchy Chocolates market size is projected to reach approximately $ 27.86 billion by 2030, at a CAGR of 6.7% from 2022 to 2030. Chocolate coating wafers generally contain a layer of chocolate and a filling such as honey, caramel, or butterscotch. In the era of interest in healthy snacks, manufacturers are producing crunchy chocolate bars which are not only tasty but also suit consumer demands. However, in addition to this, some customers might even add various ingredients such as nuts and fruits along with filling flavors like honey, caramel, and butterscotch to enhance the flavor. Hence, organic chocolate, vegan gluten-free chocolate, and energy bars are emerging as the most sought-after chocolate types around the world. “Crunchy chocolate” is applied to a variety of uses including drinks, desserts, and snacks. Its popularity as a food item that can be eaten with hands also contributed to its demand.

COVID-19 Impact Analysis

The COVID-19 pandemic had a negative impact on the market for Crunchy chocolates. During the covud19 pandemic, there was an extended lockdown in the majority of countries with a range of negative effects on the crunchy chocolate processing market. This impacted negatively all over the world as it reduced global production.  After suffering a long downturn, things are looking more hopeful across the globe and the market is expected to soon begin recovering.

The COVID-19 pandemic has led to some changes in how people are considering their purchase decisions. One of the biggest changes is that they are now more likely to shop online rather than at a brick-and-mortar store. This could be because many of the physical stores that handle COVID-19 items don’t know exactly how those items should be sold.

Market Dynamics

One of the major factors affecting the growth of the demand for crunchy chocolates is premiumization. People are willing to pay more for things that they associate with rising status, such as fast-food restaurants, highly distributed distribution channels, etc.

Drivers

Ø  The creation of premium products and their use in beverages

Increasing demand for crunchy chocolate has led to the growth of new export markets, such as vegan, gluten-free, and organic chocolate bars packed with added nuts and dried fruits. This market will continue to grow over the next few years.  The producers have witnessed an increase in demand for their chocolate products, particularly among millennials.  Demand for “organic and vegan” chocolate bars is expected to continue over the next few years. In the coming years, there is projected to be a demand increase for crunchy chocolate. This is mostly due to its use in drinks such as smoothies, coffee, or chocolate sandwiches.

Restraint:

• Rise in health awareness and fluctuating cost

One of the major factors affecting the market for crunchy chocolate is that it has a high level of saturated fats and sugar content. It can lead to numerous types of health problems, such as obesity, tooth decay, etc. Heart diseases and diabetes are prevalent among people who consume excessive amounts of this. With this rise in health awareness, the costs of crunchy chocolates are also on the rise. And due to the unavailability of raw materials, their growth is being restrained as well.

Crunchy chocolate Market Opportunity:

• Expanding distribution channel

The demand for Crunchy chocolates in the chocolate market is increasing. They are flourishing in part due to the increase of new technology, the efficient distribution of goods, and a rise in disposable incomes.  Moreover, organic and premium chocolate production is expected to increase over the coming years and as a result, create several lucrative opportunities in the industry.

Segment Overview

By Type

Based on the Type, the market has been segmented into bar segment and ball segment, toffee bites, truffles, and others. And bar segment contains half part of the market. Crunchy chocolate bars have been gaining significant popularity among users owing to their crispiness and it adds a spot of fun to the snack.

By distribution channel

Based on distribution, the market has been segmented into supermarkets and hypermarkets, convenience stores, non-grocery retailers, and others. Supermarkets and hypermarkets currently dominate the market and hold the largest market share.

Regional Analysis

Based on region, the crunchy chocolate market has been divided into North America, Europe, Asia-Pacific, and the Rest of the World. Europe is projected to dominate the use of the crunchy chocolate market followed by the Asia-Pacific and North American regions.

Europe Market

The Europe region of crunchy the market has the largest market share and leads industry growth. In 2020, Europe owned almost two-fifths of the crunchy chocolate market.

Asia-Pacific Market

Asia-Pacific is the fastest-growing region with developing economies such as Singapore, China, and India driving this growth.

Competitive Landscape

The market comprises tier-1, tier-2, and local players. With their wide product portfolios, tier-1 and tier-2 players have a global reach. Because of their strategic innovations and broad regional presence, companies such as Mars Inc., Mondelez International, Ferrero Group, Nestle SA,  A. Loacker Spa, Неrѕhеу’ѕ, Pierre Hermé Paris Lindt & Spruengli AG, Yıldız Holding, and Maison Chaudun lead the crunchy chocolates business. To increase their market position and attract a wide consumer base, the businesses are employing various strategies, such as growth, product releases, and alliances.

Prominent Players:

• Mars Inc.
• Mondelez International
• Ferrero Group
• Nestle SA
• Loacker Spa
• Неrѕhеу’ѕ
• Pierre Hermé Paris Lindt & Spruengli AG
• Yıldız Holding
• Maison Chaudun

Scope of the Report

Crunchy chocolate Market, by Type

• Bar
• Ball
• Toffeefe bites
• Truffles
• Others

Crunchy chocolate Market, by Distribution Channel

• supermarkets
• hypermarkets
• convenience stores
• non-grocery retailers
• others

Global MICE Tourism Market, by Region

• North America
  • US
  • Canada
  • Mexico
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • South Korea
  • India
  • Rest of Asia Pacific
• Rest of the World

 

Parameters	Indicators
Market Size	2030: $ 27.86 Billion
CAGR	6.7% CAGR (2022-2030)
Base year	2021
Forecast Period	2022-2030
Historical Data	2020
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Key Segmentations	Type, Distribution channel
Geographies Covered	North America, Europe, Asia-Pacific, Latin America, Middle East, Africa
Key Vendors	Mars Inc., Mondelez International, Ferrero Group, Nestle SA,  A. Loacker Spa, Неrѕhеу’ѕ, Pierre Hermé Paris Lindt & Spruengli AG, Yıldız Holding, and Maison Chaudun
Key Market Opportunities	Expanding distribution channel
Key Market Drivers	The creation of premium products and its use in beverages

 

REPORT CONTENT BRIEF:

• High-level analysis of the current and future crunchy  market trends and opportunities
• Detailed analysis of current market drivers, restraining factors, and opportunities in the future
• Crunchy chocolates market historical market size for the year 2020the, and forecast from 2021 to 2028
• Crunchy chocolates market share analysis at each product level
• Competitor analysis with a detailed insight into its product segment, financial strength, and strategies adopted.

• Identifies key strategies adopted including product launches and developments, mergers and acquisitions, joint ventures, collaborations, and partnerships as well as funding taken and investment done, among others.
• To identify and understand the various factors involved in the crunchy chocolate affected by the pandemic
• To provide a detailed insight on the maintor companies operating in the market. The profiling will include the financial health of the company past 2-3 years with segmental and regional revenue breakup, product offering, recent developments, SWOT analysis, and key strategies.