Crunchy Chocolate Global Market Size is estimated to reach $3.6 billion by 2027 and it is poised to grow at a CAGR of 4.1% over the forecast period of 2022-2027.
“Crunchy Chocolate Global Market Forecast (2022-2027)", by Industry ARC covers an in-depth analysis of the following segments of the Crunchy Chocolate Global Market.
Crunchy Chocolate Global Market Size is estimated to reach $3.6 billion by 2027 and it is poised to grow at a CAGR of 4.1% over the forecast period of 2022-2027. Wafer chocolate, often known as crunchy chocolate, is made by coating a wafer with a layer of chocolate. It's made with cocoa butter, sugar or glucose syrup, skimmed milk powder, modified palm oil, peanuts, raising agent, soy lecithin, emulsifier and a filling of delightful flavours like honey, caramel and butterscotch to boost the flavor. Manufacturers are now developing a variety of crunchy chocolate product types that are not only tasty but also meet the needs and aspirations of a health-conscious consumer base. As a result, organic chocolate, vegan gluten-free chocolate and energy bars are becoming increasingly popular around the world. There are a variety of applications for crunchy chocolate that have influenced its popularity. Crunchy chocolate crumbs and pieces are added to liquids like coffee and smoothies or used to make chocolate sandwiches. Premiumization, a growing fast-food business, expanding distribution channels and other reasons are all contributing to the rise in demand for crunchy chocolates. The surge in demand for chocolates, particularly crispy chocolate, is driving the confectionery business. Dark, milk and white chocolates have gained popularity in recent years as a result of an increase in their consumption rate. Furthermore, the widespread availability of chocolate products, combined with a shift in consumer preferences toward confectionery items, has fueled chocolate demand. Increased demand for crunchy chocolate, as well as brand awareness advertising by manufacturers, are the fundamental reasons driving the Crunchy Chocolate Global sector during the forecast period 2022-2027.
Crunchy Chocolate Global Market Report Coverage
The report : “Crunchy Chocolate Global Market Forecast (2022-2027)", by Industry ARC covers an in-depth analysis of the following segments of the Crunchy Chocolate Global Market.
By Type : Bar, Toffee Bites, Truffles, Balls, Others
By Composition : Milk Chocolate, Dark Chocolate (Bitter Chocolate, Semi-sweet chocolate, Pure Bitter Chocolate, Others), White chocolate, Nut Chocolate, Organic Chocolate and, Others.
By Age Group : Millennials, Gen A/ Z, GenX and Boomers.
By Price Point : Mainstream, Premium.
By Distribution Channel : Supermarkets, Hypermarkets, E-commerce websites and Others.
By Geography- North America (U.S., Canada, Mexico), Europe (Germany, United Kingdom (U.K.), France, Italy, Spain, Russia and Rest of Europe), Asia Pacific (China, Japan India, South Korea, Australia and New Zealand and Rest of Asia Pacific), South America (Brazil, Argentina, Chile, Columbia and Rest of South America) and Rest of the World (the Middle East and Africa).
Key Takeaways
- Geographically, Europe held a dominant market share in the year 2021 owing to changing trends of indulging in sugar-free, fat-free chocolates as a result of increased health consciousness. Moreover, Premium chocolates made from sustainably harvested cocoa from a single plantation are in high demand.
- There are a variety of applications for crunchy chocolate that have influenced its popularity. Crunchy chocolate crumbs and pieces are added to liquids like coffee and smoothies or used to make chocolate sandwiches. Premiumisation, a growing fast-food business, expanded distribution channels and other reasons are all contributing to the rise in demand for crunchy chocolates will help to the market's growth during the forecast period of 2022-2027.
- However, the presence of high saturated fats and sugar content which can lead to numerous health problems, such as obesity, tooth decay, etc. limit the global Crunchy Chocolate Global industry growth throughout the forecast period.
- A detailed analysis of strengths, weaknesses, opportunities and threats will be provided in the Crunchy Chocolate Global Market Report.
Crunchy Chocolate Global Market: Market Share (%) by region, 2021
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Crunchy Chocolate Global Market Segmentation Analysis- By Type
Crunchy Chocolate Global Market based on the type can be further segmented into Bar, Toffee Bites, Truffles, Balls and Others. Bar held a dominant Crunchy Chocolate Global market share in 2021. Manufacturers are creating crunchy chocolates that are not only delicious but also fulfil the wants and desires of a health-conscious audience. Organic chocolate, vegan gluten-free chocolate and energy bars including peanut bars are becoming increasingly popular around the world as a result. Increased awareness of crunchy dark chocolate bars as a healthy confectionery product with antioxidants that protect the skin from damaging UV radiation is expected to fuel market growth over the next several years. Customers have grown to like crunchy chocolate bars owing to their crispiness and the fact that they add a little of excitement to the snack.
However, Toffee Bites is estimated to be the fastest-growing, with a CAGR of 4.8% over the forecast period of 2022-2027. Toffee bites are most popular among children & adults, adults look at them as childhood memory & children like them are attributed to a variety of flavours & loaded nuts. Such increasing popularity will increase the Toffee Bites market in the forecast period.
Crunchy Chocolate Global Market Segmentation Analysis- By Price point
Crunchy Chocolate Global Market based on product type can be further segmented into Mainstream, Premium. Mainstream held a dominant Crunchy Chocolate Global market share in 2021. The mainstream section includes things that are considered affordable by the majority of people in developing countries. Crunchy chocolate is commonly found in the lower price range of any product category and is frequently discounted. Confectionery items, particularly chocolates and sweets, may be considered impulse purchases, although they have become a commonplace commodity among mass consumers. Although discretionary income is increasing in both emerging and developed countries, many customers still pick the lowest alternative. As a result, the bulk of confectionery products, including crunchy chocolate, cater to the economy's enormous masses. Price promotions are also used as an efficient tactic to enhance sales by lowering product prices and encouraging impulsive buying.
However, Premium is estimated to be the fastest-growing, with a CAGR of 5.4% over the forecast period of 2022-2027. The growing demand for organic, vegan, sugar-free and gluten-free chocolates. With the growing awareness of the negative effects of synthetic products on health and the environment, most health-conscious and informed consumers have started using organic products; which can lead the premium segment in the forecast period.
Crunchy Chocolate Global Market Segmentation Analysis- By Geography
The Crunchy Chocolate Global Market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America and the Rest of the World. Europe held a dominant Crunchy Chocolate Global market share of 36% in 2021. Europe, in particular, provides a diverse selection of chocolate products, including Fry's chocolate cream, milk chocolate, dark chocolate, white chocolate, peanut chocolate and others, so expanding the breadth of the chocolate confectionery business in the region. The chocolate confectionery market in Europe is centred in Germany. The largest chocolate consumers in the world are the Germans with a per capita consumption of 11 kilogrammes per year. Switzerland is ranked as the second-largest with 9.7 kilogrammes per capita, followed by Estonia with 8.8 kilogrammes. The average per capita chocolate consumption in Europe is estimated at 5.0 kilogrammes, according to the Centre for the Promotion of Imports from developing countries (CBI). A white organic chocolate bar flavoured with pepper and lemon zest was presented by Gepa – The Fair-Trade Company in Germany. Furthermore, Kaoka, a German business, has developed organic dark chocolate with buttery crispy crépes. Such innovation in products &presence of key players grows the Crunchy Chocolate Global industry in the forecast period.
However, Asia-Pacific is estimated to be the fastest-growing over the forecast period of 2022-2027. This surge can be attributed to the growing impact of the Western lifestyle, as well as increasing awareness of chocolate's health advantages. Seasonal and festive sales are projected to have a stronghold in growing Asian countries like India, driving demand in the region. The presence of a large population base, changes in consumer taste and preferences and increased demand for confectionary, particularly chocolate, owing to health benefits such as improved blood flow, lower blood pressure and reduced heart disease risk are the major drivers of the Asia-Pacific crunchy chocolate market.
Crunchy Chocolate Global Market Drivers
Anti-Oxidant and Anti-ageing Property of Chocolate Leads the Market Growth
Over the next few years, raising awareness of crunchy dark chocolate bars as a healthier confectionery product containing antioxidants that protect the skin from damaging ultraviolet radiation is likely to drive market expansion. Chocolates have also been identified as one of the best pressure relievers and anti-ageing, confectionery foods, which is expected to increase demand for chocolate-based products. As per, Candy Industry from 2015 to 2020, there had been 5,275 newly introduced dark chocolate flavours in the global market and Crunchy chocolate bars have grown in popularity among customers owing to their crispiness and the fact that they offer a bit of excitement to the snack which leads to increase in crunchy Chocolate global market size.
Rising Vegan, Gluten-Free and Organic Trends is Propelling the Market Growth.
The demand for Crunchy Chocolate Global is increasing owing to the rise in the consumption of gluten-free, organic chocolate by vegan consumers. Increasing awareness about the celiac disease & most the people suffering from non-celiac gluten sensitivity, inflammatory diseases & autoimmune disorders consumers who are conscious about health choose gluten-free products for consumption. The majority of US consumers reported enjoying chocolate (92%) or non-chocolate candy (80%) during this period as per NCA's three-part series on the impact of the 2020 Pandemic on chocolate and confectionery. According to the Chocolate industry trend 2021, 86% of consumers around the world feel that chocolate should be both tasty and healthy and one in five new chocolate brands that launched are vegan chocolate to fulfil the demand of increasing vegan consumers seek for vegan products in the market. Such factors help to drive the crunchy Chocolate global market size.
Crunchy Chocolate Global Market Challenges
Excessive Usage of Modified Palm Oil, Raising Agent, Soy Lecithin, High-Saturated Fat, Glucose Syrup & Sugar Content is Anticipated to Impede the Market Growth.
Saturated fat is a type of dietary fat most often solid at room temperature that is high in butter, palm, coconut oil, cheese & red meat. The high amount of saturation badly affects heart health by increasing LDL cholesterol which increases the risk of heart disease & stroke. It is also linked with unnecessary weight gain owing to the presence of glucose syrup, as per the National Library of Medicine. Also, high sugar content in confectionery is bad for people with diabetes and a reason for tooth decay. Currently, in 2022, 422 million peoples around the world suffer from diabetes according to World Health Organisation. Also, excessive usage of modified palm oil, raising agent and soy lecithin may further restrain the market growth. Such factors hinder the growth of the crunchy chocolate global industry in the forecast period.
Crunchy Chocolate Global Industry Outlook
Product launches, mergers and acquisitions, joint ventures and geographical expansions are key strategies adopted by players in the Crunchy Chocolate Global Market. The top 10- Crunchy Chocolate Global Market companies are
- Chocoladefabriken Lindt & Sprüngli AG
- Nestle S.A.
- Ferrero Spa
- Cargill Incorporated
- Mars Incorporated
- Mondelez International, Inc.
- Blommer Chocolate Company
- Valrhona
- The Hershey Company
- Brookside Dairy Limited
Recent Developments
- In February 2022, Nestle agreed to purchase a majority stake in Orgain, a leading company in plant-based nutrition. In February 2021, Nestle released full-year results for 2021, with an increase of 7.5% growth & total reported sales increased by 3.3%. In August 2021, Nestle announced the successful acquisition of Bountiful Company including Nature’s Bounty, Solgar, Osteo Bi-Flex, Puritan’s Pride, Ester-C & Sundown. Nestle launched its first fully pea-based beverage in 200 ml glass under its NesFit brand in Brazil in August 2020.
- In September 2021, Lindt & Sprüngli launched Lindor Double Chocolate, a milk chocolate truffle shell with smooth & decadent melting filling made from the finest dark Lindt chocolate with a taste of sweet caramel & rich dark chocolate taste available in 6-ounce bag & contain 14 individually wrapped truffle pieces for $ 5.48.
- In October 2020, Ferrero Spa part of Ferrero Group, one of the world-leading manufacturers of chocolate & confectionery products launched ‘Ferrero Rocher Moments’ – an affordable premium gifting brand especially for Indian consumers to celebrate at INR 175 for all year round pack of 12 & INR 349 for a festive pack of 24.
Relevant Titles
Report Code: FBR 67512
Report Code: FBR 0407
Report Code: FBR 0224
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