Ruby Chocolate Market
Ruby Chocolate Market Size, Share Analysis By Form (Bar, Biscuits, Donuts, Pralines, Others), By Nature (Organic, Conventional.), By Sales Channel (Modern Trade, Pharmaceutical & Confectionery Stores, Specialty Stores), & By Region - Global Market Insights 2022 to 2032
Analysis of Ruby Chocolate Market Covering 30 + Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Ruby Chocolate Market Outlook (2022 to 2032)
The global ruby chocolate industry is valued at USD 1750.64 Million in 2022. The market is expected to surpass a valuation of USD 24134.06 Million by end of the forecast duration i.e. 2032. The chocolate market is expected to grow with a CAGR of 30% in the assessment duration.
This chocolate entered the confectionary segment in 2017. Since that time the chocolate industry is transforming its legacy. This invention is a breakthrough for many chocolate-producing brands that experience fresh flavors and surprising tastes. Ruby chocolate is known as the “first pinkish chocolate” and “millennial chocolate” in the history of the chocolate industry.
The global ruby chocolate arcade is anticipated to create substantial market opportunities for new entrants in this segment to cater to the rising demand from target consumers across the globe. Over the last two years, ruby chocolate has been launched in several economies, including China, Japan, South Korea, the U.S., and European countries. It is likely to be launched in numerous countries owing to the transforming preference of millennials.
| Report Attributes | Details |
|---|---|
| Market size (2022 A) | USD 1750.64 Million |
| Base Year for Estimation | 2022 |
| Forecast duration for this research | 2022 to 2032 |
| Forecasted Market value (2032 F) | USD 24134.06 Million |
| Global Market Growth rate (2022 to 2032 E) | CAGR of 30% |
| Key Companies Profiled | Swiss chocolatier; KitKat; Nestle; Barry Callebaut |
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What drives demand for these chocolates?
“The shifting consumer preferences likely to drive demand”
The global ruby chocolate industry is anticipated to witness a strong CAGR during the forecast period owing to the increasing consumption of these chocolates among consumers across the globe. Among the regions, the global market for chocolate is anticipated to be dominated by Europe followed by North America and East Asia by 2019 due to the presence of key production plants and the high consumption of ruby chocolate in these regions.
However, the global market is expected to witness a boom in the overall production and sales of ruby chocolate across developed and developing economies in the next few years due to rising awareness among consumers. Moreover, emerging countries such as China, the U.S., India, and Mexico are anticipated to witness amplified demand for such chocolates over the forecast period due to the increasing business footprint of chocolate vendors.
“Premium chocolate brands set to transform dynamics of chocolate industry”
The backdrop of increasing demand for premium chocolate products across the globe is likely to transform the industry dynamics of chocolate during the forecast period. The overall sales of chocolate are expected to grow at a substantial growth rate due to several market-impacting factors. Some of the factors include rising consumer awareness, expansion in the production capacity of brands, rising demand for natural products, an increasing number of new entrants in the segment, and increasing R&D activities of the companies among others.
The global market for chocolate is anticipated to open a plethora of market opportunities for leading brands to amplify their overall supply chain network in the ruby chocolate segment. However, a lack of brand promotion in Latin America, South Asia, and the Middle East & African countries may hamper the overall sales of the industry over the forecast period.
What are the factors that deter the ruby chocolate growth?
Cocoa farmers are facing a lot of issues that directly affect the supplies for the chocolate industry. Cocoa production is also hampered majorly due to climate change. Extreme weather changes are affecting the quality of cocoa yields. The negative health connotations of eating chocolates are hindering the growth of ruby chocolates.
Overall the sales of chocolate products are predominant in the western region mainly in Europe and North America which is likely to center this market around western countries in the forecast period. The rising prices of raw materials encounter a challenge in sourcing cocoa beans.
A sustainable supply of ingredients is essential for the continuous production of chocolates. There is a consistent need for the inclusion of flavors in order to attract more customers to chocolates.
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Regional Insights
The global chocolate industry is expected to remain dominant in North America as well as Europe. The rising markets in countries like France and Germany in Europe are ascribed to gain high demand in the forecast duration. The presence of key chocolate manufacturing firms in this region is likely to propel growth in the forecast period.
Asia Pacific is anticipated to create lucrative growth opportunities for players in the upcoming years. The rising disposable income in countries like India and China is expected to generate greater revenue in the forecast period owing to the high population.
Segment wise analysis
The chocolate arcade can be segmented on the basis of form, nature, and sales channel. On the basis of form, products are segmented further into bars, biscuits, donuts, pralines, and others. On the basis of nature, the market can be segmented into organic and conventional. On the basis of sales channels, the industry is segmented into modern trade, pharmaceutical & confectionery stores, specialty stores, online retailers, and other retail formats.
The confectionery segment amounts to about 80% of the market share in the chocolate market in 2020. The rising eco-conscious customer base is behind the growth in demand. The top confectionary brands are focusing on sustainability and quality improvement expected to impact positively the product trajectory.
The ongoing traction for online channels and specialty stores among the millennials is likely to amplify the overall sales of the global ruby chocolate market over the foretold period. The offline segment in distribution channels is dominant at present. The global market for chocolate can be segmented into seven regions: North America, Latin America, Europe, East Asia, South Asia, Oceania, and Middle East & Africa.
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Competitive landscape highlights only certain players
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Recent Developments
Due to the existence of numerous small- and large-scale vendors, the worldwide chocolate industry is highly fragmented. These players compete in the aspects of product innovation, distribution, price, and quality. To develop manufacturing facilities around the world and satisfy rising product demand, a majority of major businesses have been investing in R&D.
Furthermore, to gain a competitive edge in the market, these competitors are aggressively pursuing new mergers, acquisitions, joint ventures, and product development. Moreover, to strengthen their distribution network, manufacturers intend to open new retail locations, which will result in a bigger market by 2032.
- In 2018, the Swiss chocolatier company, Barry Callebaut (a leading industry player in the chocolate industry) announced that the company would launch its ruby chocolate products in the U.S. and Europe.
- In 2018, Nestle SA also launched a premium KitKat ruby chocolate in South Korea and Japan. These companies are focusing on understanding the need of target consumers to gain a competitive advantage in the global market.
Ruby Chocolate Market: Segmentation
-
By Form :
- Bar
- Biscuits
- Donuts
- Pralines
- Others
-
By Nature :
- Organic
- Conventional
-
By Sales Channel :
- Modern Trade
- Pharmaceutical
- Confectionery Stores
- Specialty Stores
-
By Region :
- Europe
- North America
- APAC
- South America
- MEA
Table of Content
- 1. Executive Summary
- 2. Industry Introduction, including Taxonomy and Market Definition
- 3. Market Trends and Success Factors, including Macro-economic Factors, Market Dynamics, and Recent Industry Developments
- 4. Global Market Demand Analysis and Forecast, including Historical Analysis and Future Projections
- 5. Pricing Analysis
- 6. Global Market Analysis and Forecast
- 6.1. Form
- 6.2. Nature
- 6.3. Sales Channel
- 7. Global Market Analysis and Forecast, By Form
- 7.1. Bar
- 7.2. Biscuits
- 7.3. Donuts
- 7.4. Pralines
- 7.5. Others
- 8. Global Market Analysis and Forecast, By Nature
- 8.1. Organic
- 8.2. Conventional
- 9. Global Market Analysis and Forecast, By Sales Channel
- 9.1. Modern Trade
- 9.2. Pharmaceutical
- 9.3. Confectionery Stores
- 9.4. Specialty Stores
- 10. Global Market Analysis and Forecast, By Region
- 10.1. North America
- 10.2. Latin America
- 10.3. Western Europe
- 10.4. Eastern Europe
- 10.5. East Asia
- 10.6. South Asia & Pacific
- 10.7. MEA
- 11. North America Sales Analysis and Forecast, by Key Segments and Countries
- 12. Latin America Sales Analysis and Forecast, by Key Segments and Countries
- 13. Western Europe Sales Analysis and Forecast, by Key Segments and Countries
- 14. Eastern Europe Sales Analysis and Forecast, by Key Segments and Countries
- 15. East Asia Sales Analysis and Forecast, by Key Segments and Countries
- 16. South Asia & Pacific Sales Analysis and Forecast, by Key Segments and Countries
- 17. MEA Sales Analysis and Forecast, by Key Segments and Countries
- 18. Sales Forecast by Form, Nature, and Sales Channel for 30 Countries
- 19. Competition Outlook, including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard
- 20. Company Profile
- 20.1. Swiss Chocolatier
- 20.2. KitKat
- 20.3. Nestlé
- 20.4. Barry Callebaut
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List Of Table
Table 1: Global Market US$ Mn Forecast by Region
Table 2: Global Market US$ Mn Forecast by Form
Table 3: Global Market US$ Mn Forecast by Nature
Table 4: Global Market US$ Mn Forecast by Sales Channel
Table 5: North America Market US$ Mn Forecast by Country
Table 6: North America Market US$ Mn Forecast by Form
Table 7: North America Market US$ Mn Forecast by Nature
Table 8: North America Market US$ Mn Forecast by Sales Channel
Table 9: Latin America Market US$ Mn Forecast by Country
Table 10: Latin America Market US$ Mn Forecast by Form
Table 11: Latin America Market US$ Mn Forecast by Nature
Table 12: Latin America Market US$ Mn Forecast by Sales Channel
Table 13: Western Europe Market US$ Mn Forecast by Country
Table 14: Western Europe Market US$ Mn Forecast by Form
Table 15: Western Europe Market US$ Mn Forecast by Nature
Table 16: Western Europe Market US$ Mn Forecast by Sales Channel
Table 17: Eastern Europe Market US$ Mn Forecast by Country
Table 18: Eastern Europe Market US$ Mn Forecast by Form
Table 19: Eastern Europe Market US$ Mn Forecast by Nature
Table 20: Eastern Europe Market US$ Mn Forecast by Sales Channel
Table 21: East Asia Market US$ Mn Forecast by Country
Table 22: East Asia Market US$ Mn Forecast by Form
Table 23: East Asia Market US$ Mn Forecast by Nature
Table 24: East Asia Market US$ Mn Forecast by Sales Channel
Table 25: South Asia & Pacific Market US$ Mn Forecast by Country
Table 26: South Asia & Pacific Market US$ Mn Forecast by Form
Table 27: South Asia & Pacific Market US$ Mn Forecast by Nature
Table 28: South Asia & Pacific Market US$ Mn Forecast by Sales Channel
Table 29: MEA Market US$ Mn Forecast by Country
Table 30: MEA Market US$ Mn Forecast by Form
Table 31: MEA Market US$ Mn Forecast by Nature
Table 32: MEA Market US$ Mn Forecast by Sales Channel
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List Of Figures
Figure 1: Global Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Form
Figure 2: Global Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Nature
Figure 3: Global Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Sales Channel
Figure 4: Global Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Region
Figure 5: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Form
Figure 6: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Nature
Figure 7: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Sales Channel
Figure 8: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 9: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Form
Figure 10: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Nature
Figure 11: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Sales Channel
Figure 12: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 13: Western Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Form
Figure 14: Western Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Nature
Figure 15: Western Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Sales Channel
Figure 16: Western Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 17: Eastern Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Form
Figure 18: Eastern Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Nature
Figure 19: Eastern Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Sales Channel
Figure 20: Eastern Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 21: East Asia Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Form
Figure 22: East Asia Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Nature
Figure 23: East Asia Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Sales Channel
Figure 24: East Asia Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 25: South Asia & Pacific Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Form
Figure 26: South Asia & Pacific Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Nature
Figure 27: South Asia & Pacific Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Sales Channel
Figure 28: South Asia & Pacific Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 29: MEA Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Form
Figure 30: MEA Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Nature
Figure 31: MEA Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Sales Channel
Figure 32: MEA Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Know thy Competitors
Competitive landscape highlights only certain players
Complete list available upon request
- FAQs -
What is the future market forecast for ruby chocolates?
The market is expected to surpass a valuation of USD 24134.06 Million by end of the forecast duration i.e. 2032.
Who are the prominent market players in ruby chocolate production?
The key players in the market are- • Swiss chocolatier • KitKat • Nestle • Barry Callebaut
What is the anticipated growth rate for the ruby chocolate market?
The ruby chocolate market is expected to grow with a CAGR of 30% in the assessment duration.
Which region dominates in market share?
The global market in ruby chocolates is expected to remain dominant in North America as well as Europe.
What is the present market lookout for the ruby chocolate market?
The worldwide ruby chocolate market is valued at USD 1750.64 Million in 2022.
Ruby Chocolate Market