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Organic Chocolate Confectionery Products Market Size, Share, & Trends Analysis Report (2023 – 2030)
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Report Overview
The global organic chocolate confectionery products market was valued at USD 5.8 billion in 2022 and is projected to expand at a CAGR of 7.2% from 2023 to 2030. The growing health consciousness among consumers is driving the demand for organic chocolate confectionery products. The increasing health awareness and health benefits associated with organic chocolate confectionery products are propelling the demand for organic chocolate confectionery products. Furthermore, the rise in the disposable income of consumers is also driving the demand for organic chocolate confectionery products.
Organic chocolate confectionery products are gaining popularity, due to their health benefits. For instance, studies have indicated that organic chocolate confectionery products have anti-inflammatory properties, which helps reduce the risk of chronic diseases. Furthermore, organic chocolate confectionery products are also known to help improve mental health and cognitive skills. The increasing demand for healthier alternatives to traditional confectionery products is expected to drive the market.
Additionally, the growing demand for premium products is expected to drive the market. Manufacturers are focusing on introducing premium products with the help of innovative packaging and marketing. For instance, in March 2021, Mars Inc. launched a premium range of chocolate bars under the brand name, M&M’s Luxury. The new range of products is made with ethically sourced cocoa beans and has a unique packaging design.
Furthermore, the growing trend of gifting chocolates is also contributing to the growth of the market. The increasing number of special occasions, such as birthdays and anniversaries, is encouraging people to give chocolate as a gift. Additionally, the rise in the number of e-commerce platforms is making it easier for consumers to purchase organic chocolate confectionery products. The availability of organic chocolate confectionery products in multiple shapes, sizes, flavors, and packaging is further driving the market.
Moreover, the increasing number of promotional activities, such as discounts and free samples, is expected to drive the growth of the market. Companies are also introducing new flavors and products to cater to the changing preferences of consumers. For instance, in December 2021, Hershey launched a new organic dark chocolate bar range under the brand name, Hershey’s Organic. The product range includes milk chocolate, dark chocolate, and white chocolate bars. The introduction of new flavors is expected to drive the market in the coming years.
Product Insights
The dark chocolate segment held the largest share of the organic chocolate confectionery market in 2020. This is mainly attributed to the rising health consciousness amongst consumers and the presence of multiple health benefits associated with dark chocolate. Dark chocolate is rich in antioxidants which helps to reduce inflammation, reduce risk of heart disease, and improve brain function. Furthermore, the presence of multiple variants of dark chocolate such as plain dark chocolate, dark chocolate with nuts, dark chocolate with fruits, etc. is also driving the market growth.
The chocolate spreads segment is expected to expand at the fastest growth rate of 6.4% over the forecast period. Rising demand for organic and natural spreads as a snack or topping is driving the growth of the chocolate spreads market. Chocolate spreads are also considered a healthier alternative to traditional chocolate as they contain no added sugar and are made with natural ingredients. Furthermore, factors like convenience, portability, and versatility of chocolate spreads are also driving the growth of the market.
Distribution Channel Insights
The supermarkets and hypermarkets segment accounted for the largest share of over 42.3% in 2022. The growth of the segment is mainly attributed to the increasing presence of organic chocolate confectionery products in these outlets. Supermarkets and hypermarkets have become the most popular retail channel for purchasing organic chocolate confectionery products due to their convenient locations, wide range of products, attractive discounts, and attractive packaging. Furthermore, supermarkets and hypermarkets also offer customers advice and assistance in selecting the right product.
The online segment is expected to register the highest growth rate of 13.2% during the forecast period. The increasing trend of online shopping in the organic chocolate confectionery products market has been driven by the growing acceptance among the young generation, who are more open to trying new products sold online. In addition, the convenience of online shopping, along with the availability of attractive discounts, has led to the increasing popularity of online shopping for organic chocolates. Furthermore, the increasing number of e-commerce websites and mobile applications offering organic chocolates has also contributed to the growth of the segment.
Type Insights
The dark chocolate segment accounted for the largest revenue share of 59.6% in the year 2022. The popularity of dark chocolate among consumers has increased due to its health benefits, including improved cholesterol levels, decreased blood pressure, and improved brain function. Moreover, the growing demand for dark chocolate confectionery products as a healthy snack has increased the demand for organic dark chocolate. Additionally, the development of innovative products with unique ingredients such as orange oil, raspberry, and mint are anticipated to drive the growth of this segment.
The milk chocolate segment is anticipated to expand at the highest CAGR of 6.2% over the forecast period. Increased demand for organic milk chocolate products among health-conscious consumers is driving the growth of this segment. Furthermore, the rise in the consumption of milk chocolate as a snack among children is a key factor in driving the demand for organic milk chocolate. Companies such as Hershey are launching organic milk chocolate products to cater to the changing consumer preferences. For instance, in August 2020, Hershey launched organic Milk Chocolate with Almonds and Sea Salt.
Regional Insights
Europe is expected to hold the largest market share and is projected to continue its dominance in the coming years. The presence of leading organic chocolate confectionery producers in the region is the key factor behind this growth. The region is also home to several renowned brands, such as Lindt & Sprüngli, Mars, and Nestle, which are producing organic chocolates for the European market. Increasing demand for organic chocolates among health-conscious consumers is further propelling the market growth in this region.
Asia Pacific is expected to register the fastest growth in the coming years. The rising disposable income and surge in demand for premium organic chocolates among the health-conscious consumers in the region are driving the growth of the market in this region. Moreover, high population density in the region is also a key factor contributing to the growth of the market. For instance, in March 2021, Organic Shop India launched its collection of premium organic chocolates in India. Furthermore, the growing number of e-commerce platforms in the region is expected to drive the demand for organic chocolates in the near future.
Financial Projections
In this part of the organic chocolate confectionery products business plan we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your organic chocolate confectionery products. Usually, these projections are drafted for a 5-year period.
Revenue Assumptions
The main source of revenues for an organic chocolate confectionery products business comes from retail sales, wholesale sales, online sales, and catering services. Here you will find a list with a description of each of them and other possible sources of profit such as fundraising, food & beverage, the sale of merchandise, and leasing the place for parties and corporate events.
Projecting Expenses
In this section, all the regular expenses related to keeping the organic chocolate confectionery products business running will be described. The list of operating expenses includes costs for ingredients, packaging, wages, marketing, utilities, insurance policies, advertising, and others.
Key companies & market share insights
Some of the key companies operating in the organic chocolate confectionery market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:
– In November 2022, Ferrero launched a range of organic dark chocolates and truffles.
– In June 2022, Hershey’s launched a range of organic chocolate bars.
– In October 2022, Nestlé launched a range of organic chocolate bars and confectionery products.
Some of the prominent players in the organic chocolate confectionery market include:
– Mars, Inc.
– Nestlé SA
– Hershey’s
– Ferrero
– Mondelez International
– Cadbury
– Lindt & Sprüngli AG
– Ghirardelli Chocolate Company
– Godiva Chocolatier
– The Chocolate Trading Company
Global Organic Chocolate Confectionery Market Segmentation
This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global organic chocolate confectionery products market based on product type, distribution channel, type, and region:
1. Product Type Outlook (Revenue, USD Million, 2017 – 2030)
– Chocolate Bars
– Chocolate Boxes & Gift Packs
– Others
2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)
– Supermarkets & Hypermarkets
– Online
– Convenience Stores
– Others
3. Type Outlook (Revenue, USD Million, 2017 – 2030)
– Organic
– Conventional
4. Regional Outlook (Revenue, USD Million, 2017 – 2030)
– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa
Frequently Asked Questions
[Q]: What is the Potential of Product Innovation in the Organic Chocolate Confectionery Products Market?
[A]: Product innovation is expected to remain one of the key elements driving the organic chocolate confectionery products market. As the demand for organic products increases, manufacturers are focusing on introducing new organic chocolate confectionery products to meet their customers’ needs. Some of the product innovations in this market include the introduction of new flavors and shapes, as well as increased use of natural ingredients.
[Q]: Who are the Key Players in the Organic Chocolate Confectionery Products Market?
[A]: The key players in the organic chocolate confectionery products market include Barry Callebaut AG, Mondelez International Inc., The Hershey Company, Mars Inc., Nestlé S.A., and Lindt & Sprüngli AG.
[Q]: Which Region Offers the Largest Opportunity for Sales of Organic Chocolate Confectionery Products?
[A]: North America is expected to be a lucrative market for organic chocolate confectionery products, due to the increasing demand for organic products in the region.
[Q]: What are the Factors Driving the Organic Chocolate Confectionery Products Market?
[A]: Factors such as the increasing demand for chocolates as a premium gifting option, the growing demand for organic and sustainable products, an increase in health awareness, and the growing consumption of chocolate-based confectionery products are expected to drive market growth.
Research Methodology
Impact Analytix employs a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. The company utilizes a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. In Addition, a recurring theme prevalent across all our research reports is data triangulation which looks market from three different perspectives. Critical elements of the methodology employed for all our studies include:
Preliminary data mining
Raw market data is obtained and collated on a broad front. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. For a comprehensive understanding of the market, it is essential to understand the complete value chain and in order to facilitate this; we collect data from raw material suppliers, distributors as well as buyers.
Technical issues and trends are obtained from surveys, technical symposia, and trade journals. Technical data is also gathered from an intellectual property perspective, focusing on white space and freedom of movement. Industry dynamics with respect to drivers, restraints, and pricing trends are also gathered. As a result, the material developed contains a wide range of original data that is then further cross-validated and authenticated with published sources.
Statistical model
Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously. These factors are studied on a comparative basis, and their impact over the forecast period is quantified with the help of correlation, regression, and time series analysis. Market forecasting is performed via a combination of economic tools, technological analysis, industry experience, and domain expertise.
Econometric models are generally used for short-term forecasting, while technological market models are used for long-term forecasting. These are based on an amalgamation of the technology landscape, regulatory frameworks, economic outlook, and business principles. A bottom-up approach to market estimation is preferred, with key regional markets analyzed as separate entities and integration of data to obtain global estimates. This is critical for a deep understanding of the industry as well as ensuring minimal errors. Some of the parameters considered for forecasting include:
Market drivers and restraints, along with their current and expected impact
Raw material scenario and supply v/s price trends
Regulatory scenario and expected developments
Current capacity and expected capacity additions up to 2030
We assign weights to these parameters and quantify their market impact using weighted average analysis, to derive an expected market growth rate.
Primary validation
This is the final step in estimating and forecasting our reports. Exhaustive primary interviews are conducted, face to face as well as over the phone to validate our findings and assumptions used to obtain them. Interviewees are approached from leading companies across the value chain including suppliers, technology providers, domain experts, and buyers so as to ensure a holistic and unbiased picture of the market. These interviews are conducted across the globe, with language barriers overcome with the aid of local staff and interpreters. Primary interviews not only help in data validation but also provide critical insights into the market, current business scenario, and future expectations and enhance the quality of our reports. All our estimates and forecast are verified through exhaustive primary research with Key Industry Participants (KIPs) which typically include:
Market-leading companies
Raw material suppliers
Product distributors
Buyers
The key objectives of primary research are as follows:
To validate our data in terms of accuracy and acceptability
To gain an insight into the current market and future expectations
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