Premium chocolates are often made with high-quality ingredients and crafted with meticulous attention to detail, resulting in superior taste and texture. Consumers are increasingly seeking premium chocolates made from ethically sourced and sustainable ingredients, promoting brands with a focus on environmental and social responsibility. Manufacturers continually introduce unique flavors, packaging, and ingredients, appealing to diverse consumer tastes. The market's positive trajectory is further boosted by the growing popularity of gifting premium chocolates during special occasions, contributing to its widespread appeal worldwide.
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Data Bridge Market Research analyses that the Global Premium Chocolate Market is growing with a CAGR of 4.3% in the forecast period of 2023 to 2030 and is expected to reach USD 53,578,784.92 thousand by 2030 from USD 3,82,57,659.09 in 2022. As disposable income increases in emerging economies, consumers have more spending power to indulge in premium and luxury food products such as high-quality chocolates. The growing middle class and changing consumer preferences have created a larger market for premium chocolates, as consumers are willing to pay more for superior taste and quality.
Key Findings of the Study
Premiumization trend is expected to drive the market's growth rate
The premiumization trend in the chocolate industry stems from consumers' increasing desire for superior quality and unique experiences. As consumers become more discerning and seek indulgent treats, they are willing to pay a premium for artisanal chocolates crafted with meticulous attention to detail. This trend is driven by a shift in consumer preferences towards sophisticated, gourmet flavors and the perception that premium chocolates offer higher cocoa content and better ingredients. As a result, chocolatiers and chocolate brands are responding to this demand by creating exquisite, handcrafted chocolates, elevating the overall market growth of premium chocolate products.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015-2020)
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Quantitative Units
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Revenue in USD Thousand, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Milk Chocolate, Dark Chocolate and White Chocolate), Product Type (Regular/Plain Chocolate and Filled Chocolate), Inclusion (With Inclusions Chocolates and Regular/No Inclusions Chocolates), Nature (Conventional, And Organic), Category (Standard Premium, and Super Premium), Cocoa Content (50-60%, 71-80%, 61-70%, 81-90%, and 91-100%), Flavor (Flavor, Classic/Regular), Packaging (Plastic Wrap, Gift Boxes/Assorted, Pouches, Board Box, Sachets, and Others), Distribution Channel (Store Based Retailers And Non-Store Retailers)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
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Market Players Covered
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Mars, Incorporated and its Affiliates (Virginia), Mondelēz International(U.S.), THE HERSHEY COMPANY (U.S.), Ferrero (Italy), Nestlé (Switzerland), General Mills, Inc. (U.S.), Meiji Holdings Co., Ltd.(Japan), Chocoladefabriken Lindt & Sprüngli AG (Switzerland), Barry Callebaut (Switzerland), The Kraft Heinz Company (U.S.), Cargill, Incorporated. (U.S.), Cloetta AB(Sweden), ORION CORP.(Korea), Ghirardelli Chocolate Company (A Subsidiary of Lindt & Sprüngli AG) (U.S.), Ezaki Glico Co., Ltd.(Japan), MORINAGA & CO., LTD(Japan), and Arcor(Argentina) among others.
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework
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Segment Analysis:
The global premium chocolate market is segmented on the basis of type, product type, inclusion, nature, category, cocoa content, flavor, packaging, and distribution channel
- On the basis of type, the premium chocolate market is segmented into Milk Chocolate, dark chocolate and white chocolate
- On the basis of product type, the premium chocolate market is segmented into regular/plain chocolate and filled chocolate
- On the basis of inclusion, the premium chocolate market is segmented into with inclusions chocolates and regular/no inclusions chocolates
- On the basis of nature, the premium chocolate market is segmented into conventional, and organic
- On the basis of category, the premium chocolate market is segmented into standard premium, and super premium
- On the basis of cocoa content, the premium chocolate market is segmented into 50-60%, 71-80%, 61-70%, 81-90%, and 91-100%
- On the basis of flavor, the premium chocolate market is segmented into flavor, classic/regular
- On the basis of packaging, the premium chocolate market is segmented into plastic wrap, gift boxes/assorted, pouches, board box, sachets, and others
- On the basis of distribution channel, the premium chocolate market is segmented into store based retailers and non-store retailers.
Major Players
Data Bridge Market Research recognizes the following companies as the major global premium chocolate market players in global premium chocolate market are General Mills, Inc. (U.S.), Meiji Holdings Co., Ltd.(Japan), Chocoladefabriken Lindt & Sprüngli AG (Switzerland), Barry Callebaut (Switzerland), The Kraft Heinz Company (U.S.), Cargill, Incorporated. (U.S.), Cloetta AB(Sweden)
Market Developments
- In 2023, Morinaga Nutritional Foods, Inc. (a subsidiary) announced the acquisition of Turtle Island Foods Holdings, Inc. Turtle Island Foods is a manufacturer of plant-based food products. As a result of this acquisition, Turtle Islands Foods will become a whole subsidiary of Morinaga Nutritional Foods, Inc. This will create an opportunity to develop nutritional chocolates for the premium chocolate market
- In 2022, Mars teamed up with Perfect Day to introduce its first animal-free, "earth-positive" chocolate. The product, CO2COA, capitalizes on the flexitarian and vegan consumer trend by simulating the flavor and texture of traditional chocolate without using any animal products.
- In 2022, The premium chocolate brand Guylian from Belgium partnered with Fairtrade to convert all of its cocoa in line with the growing ethical movement worldwide. Guylian is shifting its focus to sustainability as part of a rebranding strategy that includes a transition to more sustainable production. As a result, the chocolate with hazelnut praliné, which is sold in 120 countries across four continents, now has a new recipe, new packaging, and the distinctive blue and green Fairtrade logo.
- In 2022, Lake Champlain Chocolates released a new creation based on the latest work from a Vermont best-selling author. Only 1,000 handcrafted chocolate bars were initially available in stores for USD 10 each.
- In 2021, Lindt and Sprüngli invested around USD 80.95 Million in order to expand its cocoa mass plant in Olten. It is considered the largest and most important cocoa mass plant with the global production network.
Regional Analysis
Geographically, the countries covered in the premium chocolate market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
As per Data Bridge Market Research analysis:
Europe is the dominant region in global premium chocolate market during the forecast period 2023-2030
Europe dominated the premium chocolate market owing to Germany's dominance in the Europe premium chocolate market can be attributed to its significant market share and revenue. The region's consumers exhibit a growing awareness of the unique properties and benefits of premium chocolate products. With a rich tradition of chocolate consumption and a culture that appreciates high-quality confectionery, German consumers are inclined to choose premium chocolate offerings. This preference, combined with a strong distribution network and marketing strategies, has propelled Germany to the forefront of the European premium chocolate market.
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