Global Truffle Chocolate Market, By Type (Spherical Truffle Chocolate, Conical Truffle Chocolate, Others), By Application (Supermarkets and Hypermarkets, Convenience Stores, Specialist Retailers, Online Retailers) – Industry Trends and Forecast to 2029
Market Analysis and Size
The constant desire to create, unveil and commercialize new delicacies underpins the truffle chocolate market's growth prospects. Taste and exquisiteness are two key factors driving product development in the truffle chocolate market.
Data Bridge Market Research analyses that the truffle chocolate market was valued USD 1.450 billion in 2021 is expected to reach the value of USD 1.980 billion by 2029, at a CAGR of 4.00% during the forecast period of 2022 to 2029.
Market Definition
A chocolate truffle is a type of chocolate confectionery that is traditionally made with a chocolate ganache center that is coated in chocolate, cocoa powder, coconut, or chopped and roasted nuts (typically hazelnuts or almonds), and is typically shaped in a spherical, conical or curved shape.
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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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2019 - 2014)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Spherical Truffle Chocolate, Conical Truffle Chocolate, Others), By Application (Supermarkets and Hypermarkets, Convenience Stores, Specialist Retailers, Online Retailers)
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Countries Covered
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U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa(MEA) as a part of Middle East and Africa (MEA)
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Market Players Covered
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Barry Callebaut (Switzerland), Olam Group (Singapore), Cargill, Incorporated (U.S.), ADM (U.S.), Ingredion (U.S.), DuPont (U.S.), DSM (Netherlands), Kerry (Ireland), Tate & Lyle (U.K.), HAIGH’S CHOCOLATES (Australia), Chocoladefabriken Lindt & Sprungli AG (Switzerland), Bois Sauvage (Belgium), Confiserie LEONIDAS S.A., (Belgium), Ferrero (Italy), LOTTE CONFECTIONERY CO., LTD. (South Korea), Mars, Incorporated (U.S), Purdys Chocolatier (Canada), Teuscher Chocolates of Switzerland (Switzerland), Yildiz Holding Inc (Turkey)
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Opportunities
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Truffle Chocolate Market Dynamics
Drivers
- Rising e-commerce and expansion in supply chains
One of the key trends driving the evolution of the truffle chocolate market is advancements in online retail. Convenience stores, specialty stores, supermarkets, drug stores, and hypermarkets are all large product distribution channels. Continuous efforts by retailers and manufacturers to expand their supply and distribution chain have played an essential role in increasing access to products in the truffle chocolate market.
- Rising health awareness as well as shift to healthy products
The constant desire to try new ethnic flavors and tastes is a major driving force in the truffle chocolate market. Over the years, the chocolate industry has shifted its focus to producing healthier products. The growing health-conscious population is driving this trend, particularly in emerging economies. The evolution of the truffle chocolate market has been fueled by advances in organized retail in developing regions.
Opportunity
The ease of payment for products through online channels and the wide range of chocolate flavors and textures are important factors driving the popularity of e-commerce in the truffle chocolate market. As a result, global chocolate manufacturers' consumer base has grown.
Restraints
However, the easy availability of product substitutes, stringent government regulations about quality standardization, and supply chain disruptions caused by the pandemic will limit the scope of growth for the chocolate truffle market. The high cost of R&D activities and the volatility of raw material prices will impede the truffle chocolate market's growth rate. Other market growth restraints include rising obesity prevalence, high sugar levels in patients, and a rising incidence rate of diabetes globally.
This truffle chocolate market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the truffle chocolate market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Truffle Chocolate Market
Low sales volumes due to the COVID-19 pandemic and supply-side issues related to quality and certification impacted the chocolate market. In terms of exports, the Fine Cacao and Chocolate Institute (FCCI) surveyed the impact of the COVID-19 pandemic, which yielded some troubling results. According to reports in the Dominican Republic, the drastic lockdown imposed prevented producers and agricultural workers from going to the plantations for several weeks until the authorities granted exceptions. Thus, disruption in the raw material supply chain, followed by lockdown, results in an increasing number of specialty stores remaining closed for an extended period, and decreased volume consumption of premium chocolates.
Recent Development
- Hershey's created a chocolate bar in February 2022 to commemorate All Women and Girls. The "Celebrate SHE" bars are a limited edition. SHE was highlighted in the centre of the milk chocolate bar by the brand.
- Cadbury, a brand of Mondelez International, will launch the Twist Wrap packaging solution for its Duos range in January 2022, allowing consumers to snack in small portions by twisting and sealing the package after consuming half of the chocolate bar.
- Ferrero plans to pre-launch the new Ferrero Rocher Tablets in the travel-retail channel in September 2021 in collaboration with Lagardère. Ferrero enters the chocolate tablet market with the new product available in three flavors: milk, dark 55 percent cocoa, and white.
Global Truffle Chocolate Market Scope
The truffle chocolate market is segmented on the basis of type and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Spherical truffle chocolate
- Conical truffle chocolate
- Others
On the basis of type, the truffle chocolate market is segmented into spherical truffle chocolate, conical truffle chocolate and others.
Application
- Hypermarkets/supermarkets
- Specialty stores
- Convenience stores
- Online stores
- Other
On the basis of distribution channel, the truffle chocolate market is segmented into hypermarkets/supermarkets, specialty stores, convenience stores, online stores and others.
Truffle Chocolate Market Regional Analysis/Insights
The truffle chocolate market is analysed and market size insights and trends are provided by country, type and application as referenced above.
The countries covered in the truffle chocolate market report are U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa(MEA) as a part of Middle East and Africa (MEA).
The Asia-Pacific region dominates the truffle chocolate market. It will continue to do so during the forecast period due to the region's tremendous popularity and substantial consumption of chocolate, rising consumption of waffles and pitas prepared with chocolate spreads, rising adoption of Western culture and foods that have replaced traditional foods with bread and toasts, growing population, rising lifestyle changes.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Truffle Chocolate Market Share Analysis
The truffle chocolate market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to truffle chocolate market.
Some of the major players operating in the truffle chocolate market are:
- Barry Callebaut (Switzerland)
- Olam Group (Singapore)
- Cargill, Incorporated (U.S.)
- ADM (U.S.)
- Ingredion (U.S.)
- DuPont (U.S.)
- DSM (Netherlands)
- Kerry (Ireland)
- Tate & Lyle (U.K.)
- HAIGH’S CHOCOLATES (Australia)
- Chocoladefabriken Lindt & Sprungli AG (Switzerland)
- Bois Sauvage (Belgium)
- Confiserie LEONIDAS S.A., (Belgium)
- Ferrero (Italy)
- LOTTE CONFECTIONERY CO., LTD. (South Korea)
- Mars, Incorporated (U.S)
- Purdys Chocolatier (Canada)
- Teuscher Chocolates of Switzerland (Switzerland)
- Yildiz Holding Inc (Turkey)
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