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Organic Chocolate Spreads Products Market Size, Share, & Trends Analysis Report (2023 – 2030)
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Report Overview
The global organic chocolate spread products market was valued at USD 1.3 billion in 2022 and is projected to expand at a CAGR of 6.2% from 2023 to 2030. The increasing demand for healthy and natural products has led to the growth of the organic chocolate spread products market. Consumers are increasingly shifting towards organic products due to their natural ingredients, which are free from synthetic pesticides, fertilizers, and other toxic ingredients. Additionally, organic chocolate spread products are made with natural preservatives and are free from artificial colors, flavors, and sweeteners.
The increasing vegan population is a major factor driving the demand for organic chocolate spread products. Furthermore, the rising demand for organic chocolate spread products from health-conscious consumers is fuelling the growth of the market. Organic chocolate spread products are free from gluten, trans fats, and are rich in minerals, vitamins, and antioxidants. These products are also gaining popularity due to their convenience and long shelf life.
The increasing availability of organic spread products on e-commerce platforms is further boosting the growth of the market. For instance, in March 2021, Organic Valley launched an organic chocolate spread in the US and Canada. The product is made with organic cocoa and sweetened with organic cane sugar and is available on various e-commerce platforms such as Amazon and Walmart. The company also launched a limited-edition organic chocolate spread in April 2021, which is made with organic cocoa, organic cane sugar, and natural flavors.
Furthermore, the rising number of health-conscious consumers is further expected to drive the demand for organic chocolate spread products. For instance, in February 2021, Hershey’s launched the Simply Spreads range of organic chocolate spreads in the US. The product range is made with natural ingredients and is available in three variants: milk chocolate, dark chocolate, and milk chocolate with sea salt. Additionally, the growing demand for innovative flavors and organic ingredients is expected to fuel the growth of the market. For instance, in December 2021, ChocZero launched a new organic chocolate spread in the US. The product is made with organic cocoa and sweetened with organic monk fruit and is available in three flavors: milk chocolate, dark chocolate, and white chocolate.
Product Insights
The organic chocolate spreads segment dominated the market and accounted for a share of over 55% in 2022. Rising health consciousness among consumers is propelling the demand for organic chocolate spreads. Moreover, the emergence of various health-conscious and vegan consumers is further driving the growth of this market. According to an article published by the International Dairy Journal in July 2020, the sales of vegan chocolate spread increased by 19.5% in the United Kingdom in 2019. Furthermore, the growing demand for organic products due to their health benefits is contributing to the growth of the market.
The premium chocolate spreads segment is anticipated to expand at the fastest CAGR of 8.2% over the forecast period. The growing trend of premiumization is one of the key factors driving the premium chocolate spreads market growth. According to an article published by Mintel in October 2020, the sales of premium chocolate products have increased by 6.2% in the UK in 2020. Moreover, increasing awareness about healthy products among consumers is a key factor propelling the demand for premium chocolate spreads.
Distribution Channel Insights
The supermarkets and hypermarkets segment held the major share of over 40.7% in 2022. This segment is expected to remain dominant over the forecast period, owing to the rising consumer preference for organic products and their wide availability in supermarkets & hypermarkets. Moreover, the increasing number of organic outlets in the country is further bolstering the growth of this segment. For instance, in May 2021, organic food giant Whole Foods Market opened its first store in India, located in the Phoenix Market City Mall of Chennai.
The e-commerce segment is expected to register the highest CAGR of 16.4% over the forecast period. The rising penetration and growing customer preference for online shopping, owing to the convenience and discounts offered, are driving the growth of this segment. Moreover, the growing customer base and rising customer awareness of organic products have encouraged companies to launch their products online. For instance, in April 2021, Hershey’s India launched its organic chocolate spread online.
Type Insights
The conventional segment accounted for the largest revenue share of 69.1% in the year 2022. The rising demand for conventional chocolate spreads is owing to the availability of low-cost options, wider consumer base, and easy availability in both offline and online stores. Moreover, the growing consumer preference for conventional chocolate spreads over organic ones due to their attractive color, taste, and texture is driving the segment’s growth.
The organic segment is expected to expand at the highest CAGR of 10.3% over the forecast period. The increasing consumer awareness about health benefits of organic food products is driving the demand for organic chocolate spreads. The shift in consumer preference towards organic food products is also attributable to the increasing disposable income and the availability of organic chocolate spreads in retail stores. Moreover, the growing trend of veganism and the demand for organic products with no artificial ingredients are also contributing to the segment’s growth.
Regional Insights
Europe is expected to dominate the market and account for the largest revenue share of over 35.6% in 2022. This growth is attributed to the rising demand for organic and natural products, as well as the increasing health consciousness among consumers in the region. Additionally, the presence of key players, such as Nestle, Ferrero, and Chocoladefabriken Lindt & Sprüngli, is also expected to drive the market growth in the region.
Asia Pacific is expected to witness the second-fastest growth over the forecast period. The increasing demand for healthy and natural food products, along with the growing number of health-conscious consumers, is expected to propel the market growth in the region. In April 2021, The Hershey Company launched a new organic chocolate spread in the U.S., which is expected to further boost the demand for organic chocolate spreads in the Asia Pacific region.
Financial Projections
In this part of the Organic Chocolate Spreads Products business plan, we will provide a detailed breakdown of all income and expense categories of the business. These projections include cash flow projections and capital requirements for your Organic Chocolate Spreads Products business. Usually, these projections are drafted for a 5-year period.
Revenue Assumptions
The main source of revenues for the Organic Chocolate Spreads Products business comes from the sale of products, such as organic milk chocolate, dark chocolate, and other chocolate spreads. Other potential sources of revenue include online sales and retail store partnerships.
Projecting Expenses
In this section, all the regular expenses related to keeping your Organic Chocolate Spreads Products business running will be described. The list of operating expenses includes ingredients and packaging materials, wages, maintenance and repairs, utilities, insurance policies, advertising, and others.
Key companies & market share insights
Some of the key companies operating in the organic chocolate spreads 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 August 2022, Nutella launched a new organic hazelnut spread made with ingredients certified by the ‘Organic Food Federation’.
– In July 2022, SuperFoods launched a range of organic chocolate spreads with natural ingredients.
– In September 2022, Bassek launched a range of organic chocolate spreads with no added sugar.
Some of the prominent players in the organic chocolate spreads market include:
– Ferrero S.p.A.
– Unilever PLC
– Mondelez International, Inc.
– Nestle S.A.
– SuperFoods
– Bassek
– Nuts.com
– Heavenly Organics
– Little Secrets
– P.J. Murphy’s Organics, Inc.
Global Organic Chocolate Spreads 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 spreads products market based on product type, distribution channel, flavor, and region:
1. Product Type Outlook (Revenue, USD Million, 2017 – 2030)
– Milk Chocolate
– Dark Chocolate
– White Chocolate
2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)
– Supermarkets & Hypermarkets
– Online
– Others
3. Flavor Outlook (Revenue, USD Million, 2017 – 2030)
– Plain
– Nutty
– Fruity
– Others
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 outlook for the global organic chocolate spreads market?
[A]: The global organic chocolate spreads market is expected to reach a value of USD 6.04 billion by 2027, registering a CAGR of 4.5% during the forecast period (2020-2027). The market is driven by the rising demand for organic chocolate spreads due to their health benefits, rising consumer awareness about the health benefits of organic ingredients, and availability of wide varieties of organic chocolate spreads in the market.
[Q]: Who are the key players in the global organic chocolate spreads market?
[A]: Key players in the global organic chocolate spreads market include Ferrero International S.A., Nestlé S.A., Mars Inc., The Hershey Company, The Kraft Heinz Company, and Unilever Group.
[Q]: What are the key trends in the global organic chocolate spreads market?
[A]: Key trends in the global organic chocolate spreads market include the growing popularity of vegan-friendly organic chocolate spreads, the increasing focus on product innovation, the launch of new flavors, and the growing popularity of organic chocolate spreads as an indulgent treat.
[Q]: What is the regional outlook for the global organic chocolate spreads market?
[A]: Europe is expected to dominate the global organic chocolate spreads market in terms of value over the forecast period. The region is home to some of the world’s leading players in the market, such as Ferrero and Nestlé. Moreover, the rising demand for premium organic chocolate spreads in the region is expected to drive the market growth.
[Q]: What are the key factors driving the market growth?
[A]: Key factors driving the market growth include the increasing demand for organic chocolate spreads due to their health benefits, rising consumer awareness about the health benefits of organic ingredients, and availability of wide varieties of organic chocolate spreads in the market. Additionally, the growing popularity of vegan-friendly organic chocolate spreads, the increasing focus on product innovation, and the launch of new flavors are also boosting the 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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