Organic Chocolate Confectionery Market Size Is Expected To Reach USD 1,397.6 Million By 2028
Organic Chocolate Confectionery Industry Overview
The global organic chocolate confectionery market size is expected to reach USD 1,397.6 million by 2028, registering a CAGR of 6.8% over the forecast period, according to a new report by Grand View Research, Inc. Increasing preference for organic food products is a major factor contributing to the growth of the market. Rapid consumerism and rising disposable income levels are bolstering the market growth. Furthermore, several market players have introduced strategies for branding their chocolate confectionery in novel ways, such as organic versions.
This has also resulted in the growing consumption of these items, especially dark chocolate. The supermarkets & hypermarkets segment accounted for the largest revenue share in 2020. A large number of consumers prefer buying organic chocolate confectioneries from hypermarkets & supermarkets due to the shopping experience offered by these stores. Physical verification of these items, as well as expert assistance, is a significant factor in the development of this distribution channel.
The milk chocolate segment accounted for the largest share of the global revenue in 2020. Milk chocolate bars are becoming increasingly common in cooking and baking. Milk chocolate is a popular ingredient in a variety of cakes, pastries, and confections. It has a creamier texture and flavor than other chocolate varieties, thus, it is preferred over other chocolate varieties. The market is fragmented in nature, with the presence of a large number of global and regional players.
Organic Chocolate Confectionery Market Segmentation
Grand View Research has segmented the global organic chocolate confectionery market on the basis of product, type, distribution, channel, and region:
Based on the Product Insights, the market is segmented into Boxed, Molded Bars, Chips & Bites, and Truffles & Cups.
- The boxed segment accounted for the highest revenue share of more than 62% in 2020 and is expected to register a CAGR of 6.9% over the forecast period from 2021 to 2028. Organic boxed assortments are one of the most popular gift options across the globe.
- The chips & bite segment is projected to register the fastest growth rate during the forecast period. Consumers in developed countries, such as the U.S., are opting for organic chocolate confectionery bites to limit their confectionery consumption; thus, increasing interest in reducing the portion size has opened up growth opportunities for the manufacturers to innovate in Smaller Stock-Keeping Units (SKUs).
Based on the Type Insights, the market is segmented into Milk, Dark, and White.
- The organic milk type segment accounted for the highest revenue share of over 59% in 2020 and is estimated to grow at a steady CAGR from 2021 to 2028. The use of milk chocolate bars has become extremely popular in cooking and baking. The product is a popular ingredient in a variety of cakes, pastries, and confections. Cakes, vegetables, and nuts are also coated with it.
- The organic dark chocolate confectionery segment is expected to register the fastest CAGR of 7.1% over the forecast period from 2021 to 2028. The worldwide movement of veganism has had a major impact on the adoption of these products. Moreover, due to their ease of use and availability, these variants have become extremely common in recent years.
Based on the Distribution Channel Insights, the market is segmented into Supermarkets/Hypermarkets, Online, and Others.
- The supermarkets/hypermarkets distribution channel segment accounted for a revenue share of more than 51% in 2020. Because of the shopping experience provided by these stores, many customers prefer to purchase organic chocolate confectionery from hypermarkets and supermarkets.
- The online segment is expected to register the fastest CAGR of 9.4% from 2021 to 2028. The segment includes e-commerce sites and company websites. The convenience of shopping provided by online distribution channels is expected to drive the segment growth.
Organic Chocolate Confectionery Regional Outlook
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
Key Companies & Market Share Insights
The global market is characterized by the presence of a few well-established companies and several small- and medium-scale companies. Mergers and acquisitions are one of the key strategic initiatives adopted by the market players. Some of the key companies operating in the global organic chocolate confectionery market include:
- Pascha Chocolate Co.
- Theo Chocolate, Inc.
- Rococo Chocolates London Ltd.
- Pana Organic
- Original Beans
- Doisy And Dam
- Green and Black’s
- Lake Champlain Chocolates
- Love Cocoa
- Daylesford Organic Ltd.
- K'UL CHOCOLATE
- Seed & Bean
- Taza Chocolate
- Alter Eco
- Equal Exchange Coop.
Order a free sample PDF of the Organic Chocolate Confectionery Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
Contact:
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Grand View Research, Inc.
Phone: 1-415-349-0058
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Email: sales@grandviewresearch.com
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