Crunchy Chocolate Market to Touch USD 28.0 Billion at 5.50% CAGR by 2032
Research Reports
Aug 21, 2023
Market Analysis
The global crunchy chocolate market will touch USD 28.0 billion at a 5.50% CAGR by 2032, as per the recent Market Research Future report.
Drivers
Increased Energy Bar Consumption to Boost Market Growth
Due to the availability of a variety of nutrient-dense ingredients such nuts, dried fruits, rice, & quinoa crisps, energy bars have the ability to suppress hunger for an extended period of time. Additionally, they include dark chocolate, which has antioxidant and anti-inflammatory qualities and is high in flavonoids, copper, magnesium, and zinc. Fitness enthusiasts frequently eat them to satisfy their sweet desires and to refuel before exercising. Additionally, because they are portable and available in handy packaging, the demand for energy bars is rising globally.
Opportunities
Development of Premium Products to offer Robust Opportunities
In response to the rising demand for crunchy chocolate, new export markets have emerged for vegan, gluten-free, & organic chocolate bars that also contain additional nuts and dried fruits. Over the coming years, this market will keep expanding. The demand for the companies’ chocolate goods has increased, especially among millennials. Over the following several years, there will likely still be a demand for “organic and vegan” chocolate bars. Crunchy chocolate is expected to see an increase in demand in the upcoming years. This is mostly because it is included in beverages like smoothies, coffee, and chocolate sandwiches.
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Restraints and Challenges
Fluctuating Cost to act as Market Restraint
The fluctuating cost of raw materials and increase in health awareness may act as market restraints over the forecast period.
Market Segmentation
The global crunchy chocolate market is bifurcated based on price point, age group, distribution channel, and type.
By type, bar will lead the market over the forecast period.
By distribution channel, supermarket/hypermarket will domineer the market over the forecast period.
By age group, millennial will spearhead the market over the forecast period.
By price point, mainstream will spur the market over the forecast period.
COVID-19 Analysis
Consumer behavior changed significantly as a result of lockdowns, social segregation policies, and health concerns. Online purchasing significantly increased, and packaged items were preferred. To deal with stress and uncertainty, people turned to comfort foods like chocolate. A few chocolate producers responded to the shifting market by launching new product lines/variants that appealed to the changing consumer tastes. For instance, chocolates that emphasize healthy ingredients and functional ingredients have drawn interest.
Regional Analysis
Europe to Command Crunchy Chocolate Market
In 2022, this market was headed by the Europe (45.80%). Spanish producers of crunchy chocolate make considerable expenditures in innovation & research to create commercially viable products that offer customers unique experiences. Customers in Europe are getting more knowledgeable about new sugar substitutes and sugar-free goods as they worry regarding the detrimental effects of ingesting high amounts of sugar on their health. Additionally, the development of the crunchy chocolate market is aided by innovation in tastes, shapes, textures, and pack sizes. Additionally, the U.K. Crunchy Chocolate market was expanding at the highest rate in the European area, while the German market had the biggest market share.
North America to Have Admirable Growth in Crunchy Chocolate Market
From 2023 to 2032, the North American market is anticipated to develop significantly. The large population of the region, changing consumer tastes and preferences, and increasing demand for confectionery, particularly chocolate, because of its health benefits, such as lowered blood pressure, improved blood flow, & a lower risk of heart disease, are the main factors driving the North American crunchy chocolate market. In addition, the U.S. market had the biggest market share, while the North American crunchy chocolate industry in Canada was expanding the quickest.
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Key Players
Eminent industry players profiled in the crunchy chocolate market report include Nestle SA, Mars Inc., Mondelez International, Ferrero Group, A. Loacker Spa, Lindt & Spruengli AG, Y?ld?z Holding, Pierre Hermé Paris, Maison Chaudun, and ??r?h??’?.
Key players have incorporated multiple strategies to stay head and shoulders over others such as mergers, partnerships, new product developments, geographic expansions, acquisitions, to name a few.
Discover more research Reports on Food, Beverages & Nutrition, by Market Research Future:
Organic Chocolate Market Research Report Information By Type (Dark, White, Milk, and Others), By Distribution Channel (Store-Based and Non-Store Based), And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) – Market Forecast Till 2030
Chocolate Market Research Report Information by Product (Dark Chocolate, Milk Chocolate, White Chocolate, and Cocoa Powder), Form (Chocolate Bars, Liquid Chocolate, Truffles Chocolate), Category (Conventional, Organic, Lactose-Free, Gluten-Free, Reduced Sugar, Zero Sugar, And Multi-Claim), Distribution Channel (Food Production, Food Service, And Food Retail), and Region (North America, Europe, and Rest of the World) —Forecast till 2028
NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.
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