Global Crunchy Chocolates Market Overview
The Global Crunchy Chocolates Market size accounted for USD 3.31 Billion in 2023 and is estimated to account for 3.68 Billion in 2024. The Market is expected to reach USD 4.10 Billion by 2034 growing at a compound annual growth rate (CAGR) of 5.10% from 2024 to 2034. 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.
Global Crunchy Chocolates Market Synopsis
Global Crunchy Chocolates Market Dynamics
The major factors that have impacted the growth of Global Crunchy Chocolates are as follows:
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.
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.
Global Crunchy Chocolates 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.
Global Crunchy Chocolates Market Regional Analysis
Based on region, the Global Crunchy Chocolates market has been divided into North America, Europe, Asia-Pacific, the Middle East & Africa, and Latin America. Europe is projected to dominate the use of the Global Crunchy Chocolates market followed by the Asia-Pacific and North America regions.
Global Crunchy Chocolates Europe Market
Europe holds a dominant position in the Global Crunchy Chocolates 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.
Global Crunchy Chocolates Asia-Pacific Market
The Asia-Pacific region has indeed emerged as the fastest-growing market for the Global Crunchy Chocolates industry. Asia-Pacific is the fastest-growing region with developing economies such as Singapore, China, and India driving this growth.
Competitive Landscape
The Global Crunchy Chocolates market is highly competitive, with numerous players offering a wide range of software solutions. The competitive landscape is characterized by the presence of established companies, as well as emerging startups and niche players. To increase their market position and attract a wide consumer base, the businesses are employing various strategies, such as Type launches, and strategic 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
Key Development
In September 2023, Nestlé SA focused on expanding its portfolio in the crunchy chocolates segment by enhancing its production capabilities and introducing new innovative flavor profiles to meet growing consumer demand for textured and layered chocolate products.
Scope of the Report
Global Crunchy Chocolates Market, by Type
- Bar
- Ball
- Toffeefe bites
- Truffles
- Others
Global Crunchy Chocolates Market, by Distribution Channel
- supermarkets
- hypermarkets
- convenience stores
- non-grocery retailers
- others
Global Crunchy Chocolates Market, by Region
- North America
- US
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Benelux
- Nordic
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- Indonesia
- Austalia
- Malaysia
- India
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- South Africa
- Rest of Middle East & Africa
| Parameters | Indicators |
|---|---|
| Market Size | 2034: USD 4.10 Billion |
| CAGR (2021-2034) | 5.10% |
| Base year | 2023 |
| Forecast Period | 2021-2034 |
| Historical Data | 2021 (2017 to 2020 On Demand) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Key Segmentations | Type, Distribution Channel. |
| Geographies Covered | North America, Europe, Asia-Pacific, South America, Middle East, Africa |
| Key Vendors | Mars Inc., Mondelez International, Ferrero Group, Nestle SA, Loacker Spa, Неrѕhеу’ѕ, Pierre Hermé Paris Lindt & Spruengli AG, Yıldız Holding, 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 Global Crunchy Chocolates market trends and opportunities
- Detailed analysis of current market drivers, restraining factors, and opportunities in the future
- Global Crunchy Chocolates market historical market size for the year 2022, and forecast from 2021 to 2034
- Global Crunchy Chocolates market share analysis at each Type level
- Competitor analysis with detailed insight into its Type segment, Government & Defense strength, and strategies adopted.
- Identifies key strategies adopted including Type 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 Global Crunchy Chocolates market affected by the pandemic
- To provide a detailed insight into the major companies operating in the market. The profiling will include the Government & Defense health of the company’s past 2-3 years with segmental and regional revenue breakup, Type offering, recent developments, SWOT analysis, and key strategies.
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Frequently Asked Questions (FAQ)
What is the growth rate of the Global Crunchy Chocolates market?
The Global Crunchy Chocolates market is growing at a CAGR of 5.10% over the next 10 years
Which region has the highest growth rate in the market of Global Crunchy Chocolates?
Asia Pacific is expected to register the highest CAGR during 2021-2034
Which region has the largest share of the Global Crunchy Chocolates market?
Europe holds the largest share in 2023
Who are the key players in the Global Crunchy Chocolates market?
Mars Inc., Mondelez International, Ferrero Group, Nestle SA, Loacker Spa, Неrѕhеу’ѕ, Pierre Hermé Paris Lindt & Spruengli AG, Yıldız Holding, Maison Chaudun, are the major companies operating in the market.
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