Candy & Chocolate Manufacturing Market

Candy & Chocolate Manufacturing Market Outlook (2024 to 2034)

The global candy & chocolate manufacturing market is estimated to reach a value of US$ 245.97 billion in 2024 and is forecasted to expand at a CAGR of 2.4% to reach US$ 313.33 billion by 2034.

The National Confectioners Association (NCA) reports that, in comparison to the same period the previous year, sales of chocolate confectionery items through supermarkets rose 17.9% between March 2020 and August 2020. Additionally, customers' need for high-quality items is growing, which is probably driving market expansion.

About one-third of Americans boosted their chocolate intake during the pandemic, according to a poll of 600 supermarket consumers in the United States performed in February 2021 by Cargill's North America Cocoa & Chocolate team. About 72% of customers who responded to the poll said chocolate improved their spirits, and 59% said it gave them energy when they worked from home during the lockdown. These statistics are probably encouraging market expansion going forward.

Premium confections with a variety of textures and superior quality are what consumers are searching for in the market. Approximately 55% of customers worldwide are prepared to pay for items with diverse tastes, textures, and superior quality, according to a 2019 Barry Callebaut exclusive survey. These desires are exploited by the leading companies in the industry. For example, the high-end company Baron Chocolatier introduced a range of bars available only at Dollar Stores in the United States in September 2021. Five bars in three flavors-peanut butter, milk mousse, and creamy caramel-make up the product line. These bars are non-GMO, trans-fat-free, and Kosher certified.

Since health and wellness are becoming top priorities, more customers worldwide are adopting healthy eating habits with specific demands and demanding "better-for-me" options. 52% of American consumers buy dark chocolate confections because of their healthy advantages, according to Cargill's ChocoLogic study from February 2021. These elements are probably supporting the general expansion of the market for healthy goods. When shopping for confectionary products, consumers take several variables into account, and some end up buying high-end items.

As manufacturers introduce goods with label claims, including vegan, cruelty-free, organic, and paleo to differentiate their offers with healthier labels, the demand for luxury confectionary items in the chocolate market is increasing more than ever. For example, Cadbury announced in October 2021 that two vegan milk bar flavors-Cadbury Plant Bar Smooth Chocolate and Cadbury Plant Bar Smooth Chocolate containing Salted Caramel pieces-will be available in Britain, which is further contributing to the expanding candy & chocolate manufacturing market size.

Report Attributes	Details
Candy & Chocolate Manufacturing Market Size (2024E)	US$ 245.97 Billion
Forecasted Market Value (2034F)	US$ 313.33 Billion
Global Market Growth Rate (2024 to 2034)	2.4% CAGR
East Asia Market Value (2034F)	US$ 22.73 Billion
North America Market Growth Rate (2034F)	2.16%
Chocolate Confectionery Segment Value (2034F)	US$ 217.28 Billion
Japan Market Value (2034F)	US$ 6.36 Billion
Key Companies Profiled	Barry Callebaut; Chocoladefabriken Lindt & Sprungli AG; Modelen International Inc.; Nestle; The Hershey Company; Ferrero Group; Mars, Incorporated; The Australian Carob Co; Meiki Holdings Co Ltd; Arcor

What is Escalating the Profits for Candy and Chocolate Manufacturers?

“Manufacturers Revealing New and Exciting Flavors Enticing More Customers”

Manufacturers are been forced to launch new items in response to shifting consumer tastes for unique and inventive products. A new era in this business is becoming ushered by the development of new technology for the formulation of chocolate confections as well as the use of healthy natural flavors and other components. More customers are prepared to pay extra for high-end, well-made goods. The demand for luxury and premium chocolates in developed countries is driven by a new trend called premiumization.

Because of its abundance of minerals and antioxidants, cocoa is becoming a more popular nutritious component. The dark chocolate market eventually flourishes because higher cocoa content is thought to be on a lower sugar level. For example, MycoTechnology, Inc. makes sweeter chocolates with less sugar by using mushrooms. Moreover, the business asserts that their technique lowers the amount of sugar by 70% in their chocolate products.

“Festival Season Helping Key Players in Boosting Sales of Chocolates Globally”

Chocolate's demand in the worldwide market is fueled by the fact that they are primarily consumed and connected to seasonal celebrations in several countries. Chocolates are now a common dessert at religious gatherings and on important occasions, including Easter, Christmas, and others. Every year, consumers are looking for chocolates of more inventive kinds. In recent years, there is been a noticeable increase in seasonal debuts in mature markets throughout the world, including Russia, Canada, Australia, and others than ever before.

To take advantage of the rising demand, the top producers are putting effort into making investments in R&D facilities, distribution systems, and eye-catching packaging. The market for chocolate confections is expanding because of millennials' increasing desire for premium, artisan, and personalized chocolates. All these factors are contributing to the overall expansion of the candy & chocolate manufacturing market growth.

“Rising Trend of Luxury Chocolates Bringing New Market Opportunities”

There is a sharp rise in the demand for specialty or luxury chocolates, particularly in industrialized countries, such as the United States, France, Belgium, and Germany. This trend is projected to continue in the years to come. It is anticipated that growing customer interest in learning the provenance of ingredients used in chocolate confections support the expansion of specialty chocolates.

Dark and sugar-free chocolate treats with a higher cocoa content are in greater demand due to the growing trend of clean-label and organic products to preserve general health and wellness. The demand for fair-trade chocolate is rising due to growing awareness of worker welfare.

What is Bringing Down the Reputation of Chocolate Manufacturers?

“Risks of Diabetes Harming Sales Prospect”

The chocolate business is adversely impacted by the rising incidences of lifestyle-related diseases, such as diabetes and obesity that are linked to consuming too much sugar. The Global Diabetes Community in the United Kingdom estimates that 415 million people globally were facing diabetes in 2018, and by 2040, that number is approximated to increase to 642 million.

Patients with diabetes avoid and limit their regular intake of sugar by refusing to eat chocolate. Thereby, it is anticipated that throughout the projection period, the growing number of people with illnesses including diabetes and cardiovascular diseases slow the growth of the market as a whole.

Country-wise Analysis

From early childhood chocolates are loved by everyone, this desire to buy chocolates is not restricted to one country but is global. This gives a nice opportunity for key manufacturers to expand their business operations around the world, including Japan, Mexico, Canada, and India. The United States in North America is forecasted to hold a significant candy & chocolate manufacturing market share.

How Manufacturers in the United States are Making Huge Profits?

“Luxury Chocolate Brands Working Favorably in the Country”

Attribute	United States
Market Value (2024E)	US$ 69.11 Billion
Growth Rate (2024 to 2034)	2.14% CAGR
Projected Value (2034F)	US$ 87.62 Billion

The rise of luxury chocolate brands in the United States is significantly contributing to the profitability of chocolate manufacturers. Consumers are increasingly seeking premium, artisanal chocolates that offer unique flavors and high-quality ingredients. This shift in demand is spurring innovation, with brands experimenting with sustainable sourcing practices, organic ingredients, and exotic flavor combinations.

Furthermore, effective marketing strategies, including storytelling and brand partnerships, are creating a strong emotional connection between consumers and high-end products. e-Commerce is also playing a crucial role, allowing brands to reach broader audiences and tap into niche markets.

Why Chocolate Suppliers in China are Able to Register Huge Sales?

“Large Skilled Workforce Allowing Large-scale Chocolate Production and Exports”

Attribute	China
Market Value (2024E)	US$ 7.35 Billion
Growth Rate (2024 to 2034)	3% CAGR
Projected Value (2034F)	US$ 10.17 Billion

China's chocolate suppliers are experiencing substantial sales growth, largely due to the availability of a large, skilled workforce that supports efficient chocolate production and exports. The country's manufacturing capabilities are expanding rapidly, attracting investments and improving production techniques. A growing middle class with increasing disposable income is also driving the demand for chocolates, particularly among younger consumers who are more open to trying diverse flavors and brands.

This competitive edge allows suppliers in China to optimize costs while meeting consumer preferences effectively. Coupled with successful marketing campaigns that promote chocolate as a luxury item, the result is a thriving market that enables suppliers in China to register impressive sales figures, solidifying their place in the global chocolate industry.

Category-wise Evaluation

Several products and services are introduced by suppliers to grab the eyes of as much as customers as possible. For now, manufacturers are working with the production of chocolate confectionery and nonchocolate confectionery to make the most sales.

Which Products and Services are Prominently Making Huge Revenues?

“Chocolate Confectionery Grabbing More Customers Compared to Other Available Options”

Attribute	Chocolate Confectionery
Segment Value (2024E)	US$ 169.62 Billion
Growth Rate (2024 to 2034)	2.25% CAGR
Projected Value (2034F)	US$ 217.28 Billion

The chocolate confectionery sector is emerging as a leading player in the retail market, projected to attract even more customers than other chocolate products. This surge in popularity is attributed to the diverse range of offerings within this category, including premium chocolates, seasonal gifts, and innovative flavors.

Brands are investing heavily in marketing strategies that highlight the indulgent experience of chocolates, tapping into emotional connections with consumers. The rise of online shopping is further facilitating access to an array of chocolate products, making it easier for consumers to purchase their favorites. As a result, it is becoming a new candy & chocolate manufacturing market trend.

Why are Supermarkets and Grocery Stores Ruling This Business Space?

“Supermarkets and Grocery Stores Coming Top in List for Candy and Chocolate Sales with Diverse Product Offerings”

Attribute	Supermarkets & Grocery Stores
Segment Value (2024E)	US$ 41.1 Billion
Growth Rate (2024 to 2034)	2.18% CAGR
Projected Value (2034F)	US$ 52.3 Billion

Supermarkets and grocery stores are leading the charge in the candy and chocolate sales landscape, positioning themselves as the preferred investment for end users looking to maximize their returns. These retail giants benefit from their capacity to reach a vast segment of the population, offering convenience and accessibility. With attractive displays and seasonal promotions, they effectively draw consumers to purchase both impulse items and everyday treats.

The emphasis on quality, variety, and the shopping experience is turning supermarkets into a hot spot for candy and chocolate sales, appealing to a diverse consumer base. As consumer preferences shift towards on-the-go snacking and premium options, supermarkets are capitalizing on these trends to enhance their offerings and drive revenue growth.

Business Competition

Key players in the candy & chocolate manufacturing market are working hard on bringing new possibilities to understand customer choices and preferences to add a few more products, including low-calorie candies and sugar-free candies.

• With its "Never Square" campaign, Mondelez International rebranded the Toblerone chocolate brand as luxury chocolate in October 2023. The ad presents Toblerone as a distinctive and superior chocolate, drawing influence from luxury goods. Toblerone is launching novel forms and gifting choices, such as Toblerone Truffles with a velvety smooth truffle core and a distinctive diamond shape, to complement the new brand approach.
• Leading producer of premium chocolate and cocoa goods, Barry Callebaut, revealed plans to create a second generation of chocolate in October 2022. This new chocolate uses less sugar and emphasizes cocoa more than before. To display the distinct flavors of every cocoa bean, this new generation of chocolate is using the Cocoa Cultivation & Craft philosophy.

Fact.MR provides detailed information about the price points of key players in the candy & chocolate manufacturing market positioned across the world, sales growth, production capacity, and speculative technological expansion, in this new market report.

Segmentation of Candy & Chocolate Manufacturing Market Research

• By Product & Service :

  • Chocolate Confectioneries
  • Non-Chocolate Confectioneries
  • Gum

• By Major Market :

  • Confectionery Wholesalers
  • Supermarkets & Grocery Stores
  • Food Manufacturers
  • Hospitality Trade
  • Discount Stores
  • Direct to Public

• By Region :

  • North America
  • Western Europe
  • Eastern Europe
  • Latin America
  • East Asia
  • South Asia & Pacific
  • Middle East & Africa