Hot Cocoa Mix Market
Hot Cocoa Mix Market Analysis by Type (Multi-Flavored Hot Cocoa, Plain Hot Cocoa), by Distribution Channels and by Region - Global Market Insights 2023 to 2033
Analysis of Hot Cocoa Mix Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Hot Cocoa Mix Market Outlook (2023 to 2033)
Newly-released hot cocoa mix market analysis report by Fact.MR reveals that global sales in the Hot Cocoa Mix Market in 2022 were held at US$ 901 million. With 7.4% projected growth from 2023 to 2033, the market is expected to reach a valuation of US$ 2 billion by the end of the forecast period.
Multi-Flavored hot cocoa is expected to be the significant revenue-generating type of the hot cocoa mix, projected to grow at a CAGR of over 7.2% from 2023 to 2033.
| Attributes | Details |
|---|---|
| Global Hot Cocoa Mix Market Size (2022) | US$ 901 million |
| Global Hot Cocoa Mix Market Size (2033) | US$ 2 billion |
| Global Hot Cocoa Mix Market CAGR (2023 to 2033) | 7.4% |
| U.S. Hot Cocoa Mix Market CAGR (2023 to 2033) | 7.1% |
| Key Companies Covered | Hershey's; Nestle; Starbucks; Lindt & Sprüngli AG; Godiva; Venchi; Ghirardelli Chocolate Company; Conagra Brands; Williams-Sonoma Inc.; Castle Kitchen |
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Revenue of Hot Cocoa Mix Market from 2018 to 2022 Compared to Demand Outlook for 2023 to 2033
As per the research of the hot cocoa mix market by Fact.MR - a market research and competitive intelligence provider, historically, from 2018 to 2022, the market value increased at around 6.2% CAGR. With an absolute dollar opportunity of US$ 996 million, the market is projected to reach a valuation of US$ 2 billion by 2033.
What are the Key Drivers Influencing the Market Expansion?
Hot cocoa mix is a powdered mixture of cocoa powder, sugar, and sometimes other ingredients such as milk powder that is designed to be mixed with hot water or milk to create a hot chocolate beverage. Hot cocoa mix is a convenient and easy way to make hot chocolate as it eliminates the need to measure and mix individual ingredients. The mixture can be stored in a container and used as needed. Hot cocoa mix is a popular beverage during the winter months and is often enjoyed as a comforting and indulgent treat.
In 2020, the global cocoa consumption amounted to around 4.3 million metric tons and the per capita consumption of cocoa was over 0.56 kilograms in the same year. Cocoa consumption includes various products such as chocolate bars, cocoa powders, and other cocoa-based products. Cocoa is known to have health benefits such as reducing the risk of heart disease, improving cognitive function, and boosting mood. As consumers become more health-conscious, demand for cocoa as a natural ingredient in food and beverage products is growing. This is expected to influence the market growth in the upcoming years.
Increasing applications of cocoa in various industries such as pharmaceutical, confectionary, and food and beverages due to its several benefits is a prominent factor which helps for the growth of global cocoa industry. The demand of Cargill’s cocoa and chocolate products has been increased in the last few years. For instance, The Yopougon, Côte d'Ivoire, cocoa processing facilities of Cargill have undergone a US$ 100 million expansion, significantly increasing the company's capacity for cocoa processing. The Yopougon facility is currently Africa's biggest cocoa grinding factory as a result of this investment.
In 2020, the global hot beverages market was valued at around US$ 205 billion and is expected to grow at a CAGR of over 6.3% during the forecast period. Consumers are increasingly looking for healthier beverage as an option, which has led to the development of hot cocoa mixes that are low in calories, fat, and sugar. The market is driven by factors such as increasing consumer demand for healthy and natural beverages, rising disposable income, and growing popularity of premium and specialty beverages.
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Region-Wise Analysis
Which Region is projected to Offer Significant Market Growth?
North America is a prominent shareholder in the market with a market size of US$ 370 million in 2022 and is estimated to reach US$ 396 million in 2023. It is projected that the region will have a market worth US$ 805 million by 2033.
In 2020, the total production of chocolate and chocolate confectionery products in Canada was over 191,431 metric tons. And the total value of chocolate and cocoa products exported from Canada was over US$ 1.02 billion in 2020. The popularity of chocolate and chocolate confectionery products has led to an increase in innovation in the market. Manufacturers are introducing new and innovative flavours, such as dark chocolate, white chocolate, and mint chocolate, to cater to different consumer preferences. The increase in demand of chocolate and confectionery products helps towards the market growth.
Country-Wise Analysis
United States Hot Cocoa Mix Market Analysis :
The market in the United States is expected to grow to be worth US$ 694.4 million by 2033, with an absolute dollar growth of US$ 346.1 million from 2023 to 2033. The market in the country has grown at a CAGR of 6% from 2018 to 2022 and is expected to grow at a CAGR of 7.1% from the year 2023 to 2033.
According to the National Confectioners Association, in 2019, the per capita consumption of hot cocoa mix was around 1.12 pounds per person in the United States. The United States is the largest market for hot cocoa mix globally, and the demand for organic and low-sugar options is expected to drive the market growth in the future.
United Kingdom Hot Cocoa Mix Market Analysis :
In United Kingdom, the market is expected to grow to be worth US$ 82.5 million with an absolute dollar growth of US$ 38.3 million till 2033. The market in Japan has grown at a CAGR of 5.1% from 2018 to 2022 and is expected to grow at a CAGR of 6.4% from the year 2023 to 2033.
Hot chocolate is a popular comfort drink in the UK, particularly during the winter months. According to a survey, 66% of UK consumers drink hot chocolate or cocoa at least once a month, and 27% drink it once a week. Around 50% of the UK consumers are interested in hot chocolate or cocoa drinks with less sugar. The growing popularity of hot chocolate as a comfort drink and the growing awareness of the health benefits have been driving the market growth in the United Kingdom.
China Hot Cocoa Mix Market Analysis :
In China, the market is expected to grow to be worth US$ 140.6 million with an absolute dollar growth of US$ 67.5 million till 2033. The market in China has grown at a CAGR of 5.6% from 2018 to 2022 and is expected to grow at a CAGR of 6.8% from 2023 to 2033.
In 2020, the total sales of chocolate confectionery in China was valued at over US$ 5.1 billion and is expected to reach US$ 7.1 billion by 2025 and expected to grow at a CAGR of 4%, during the forecast period. The popularity of chocolate is increasing in China, driven by the growing middle class with disposable income to spend on premium products. This is expected to influence market growth in the future.
Japan Hot Cocoa Mix Market Analysis :
The market in Japan is expected to grow to be worth US$ 15 million by 2033, with an absolute dollar growth of US$ 8 million. The market in the country has grown at a CAGR of 4.7% from 2018 to 2022 and is expected to grow at a CAGR of 5.9% from 2023 to 2033.
In 2020, the total sales value of cocoa powder in Japan was over US$ 28 million and it was increased up from the previous year at above US$ 23 million in 2018. A growing demand for cocoa powder in the Japanese market, which could be used for a variety of purposes including baking, cooking, and making hot cocoa mixes. This is expected to influence the market growth in the future.
India Hot Cocoa Mix Market Analysis :
The market in India is expected to grow to be worth US$ 70.3 million by 2033, with an absolute dollar growth of US$ 29.3 million. The market in India has grown at a CAGR of 4.1% from 2018 to 2022 and is expected to grow at a CAGR of 5.5% from 2023 to 2033.
With over 11 thousand metric tons, Andhra Pradesh had a significant volume of cocoa production in 2022. Kerala contributed with 35% to the cocoa production share that year which amounted to over ten thousand metric tons. Consumers are becoming more health-conscious and are seeking out products that are made from high-quality, natural ingredients. This is driving the demand for premium and organic hot cocoa mix products in India.
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Category-Wise Insights
Which Type of Hot Cocoa Mix is projected to Witness Significant Growth in the Market?
Demand for multi-flavored Hot Cocoa is projected to witness significant growth with a CAGR of 6% from 2018 to 2022 and 7.2% from 2023 to 2033.
Multi-flavored hot cocoa mixes contains various flavorings and ingredients which add different taste profiles to the traditional hot cocoa beverage. These mixes often come in powder form and can be made by mixing the powder with hot water or milk. Multi-flavored hot cocoa mixes may offer a variety of options to consumers, which could lead to increased demand and market growth.
Competitive Analysis
Key players in the market are Hershey's, Nestle, Starbucks, Lindt & Sprüngli AG, Godiva, Venchi, Ghirardelli Chocolate Company, Conagra Brands, Williams-Sonoma Inc., and Castle Kitchen.
A few of the recent developments in the market are :
- In July 2021, Nestle launched a new hot cocoa mix called "Abuelita Chocolate," which is inspired by traditional Mexican hot chocolate. The product is made with high-quality cocoa and features a rich and creamy taste.
- In June 2021, Swiss Miss announced the launch of a new hot cocoa mix product called "Unicorn Marshmallows." The product features colorful marshmallows shaped like unicorns and is designed to appeal to younger consumers.
Segmentation of the Hot Cocoa Mix Market
-
By Type :
- Multi-Flavored Hot Cocoa
- Plain Hot Cocoa
-
By Distribution Channel :
- Online Retail
- Hypermarket/Supermarket
- Chocolate Shop
- Others
-
By Region :
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
Table of Content
- 1. Executive Summary
- 2. Market Overview
- 3. Market Background
- 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033
- 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Type
- 5.1. Multi-Flavored Hot Cocoa
- 5.2. Plain Hot Cocoa
- 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Distribution Channel
- 6.1. Online Retail
- 6.2. Hypermarket/Supermarket
- 6.3. Chocolate Shop
- 6.4. Others
- 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region
- 7.1. North America
- 7.2. Latin America
- 7.3. Europe
- 7.4. Asia Pacific
- 7.5. Middle East and Africa
- 8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
- 9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
- 10. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
- 11. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
- 12. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
- 13. Key Countries Market Analysis
- 14. Market Structure Analysis
- 15. Competition Analysis
- 15.1. Hershey's
- 15.2. Nestle
- 15.3. Starbucks
- 15.4. Lindt & Sprüngli AG
- 15.5. Godiva
- 15.6. Venchi
- 15.7. Ghirardelli Chocolate Company
- 15.8. Conagra Brands
- 15.9. Williams Sonoma Inc.
- 15.10. Castle Kitchen
- 16. Assumptions & Acronyms Used
- 17. Research Methodology
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List Of Table
Table 01: Global Market Value (US$ Million) Forecast by Region, 2018 to 2033
Table 02: Global Market Volume (Tons) Forecast by Region, 2018 to 2033
Table 03: Global Market Value (US$ Million) Forecast by Type, 2018 to 2033
Table 04: Global Market Volume (Tons) Forecast by Type, 2018 to 2033
Table 05: Global Market Value (US$ Million) Forecast by Distribution Channel, 2018 to 2033
Table 06: Global Market Volume (Tons) Forecast by Distribution Channel, 2018 to 2033
Table 07: North America Market Value (US$ Million) Forecast by Country, 2018 to 2033
Table 08: North America Market Volume (Tons) Forecast by Country, 2018 to 2033
Table 09: North America Market Value (US$ Million) Forecast by Type, 2018 to 2033
Table 10: North America Market Volume (Tons) Forecast by Type, 2018 to 2033
Table 11: North America Market Value (US$ Million) Forecast by Distribution Channel, 2018 to 2033
Table 12: North America Market Volume (Tons) Forecast by Distribution Channel, 2018 to 2033
Table 13: Latin America Market Value (US$ Million) Forecast by Country, 2018 to 2033
Table 14: Latin America Market Volume (Tons) Forecast by Country, 2018 to 2033
Table 15: Latin America Market Value (US$ Million) Forecast by Type, 2018 to 2033
Table 16: Latin America Market Volume (Tons) Forecast by Type, 2018 to 2033
Table 17: Latin America Market Value (US$ Million) Forecast by Distribution Channel, 2018 to 2033
Table 18: Latin America Market Volume (Tons) Forecast by Distribution Channel, 2018 to 2033
Table 19: Europe Market Value (US$ Million) Forecast by Country, 2018 to 2033
Table 20: Europe Market Volume (Tons) Forecast by Country, 2018 to 2033
Table 21: Europe Market Value (US$ Million) Forecast by Type, 2018 to 2033
Table 22: Europe Market Volume (Tons) Forecast by Type, 2018 to 2033
Table 23: Europe Market Value (US$ Million) Forecast by Distribution Channel, 2018 to 2033
Table 24: Europe Market Volume (Tons) Forecast by Distribution Channel, 2018 to 2033
Table 25: Asia Pacific Market Value (US$ Million) Forecast by Country, 2018 to 2033
Table 26: Asia Pacific Market Volume (Tons) Forecast by Country, 2018 to 2033
Table 27: Asia Pacific Market Value (US$ Million) Forecast by Type, 2018 to 2033
Table 28: Asia Pacific Market Volume (Tons) Forecast by Type, 2018 to 2033
Table 29: Asia Pacific Market Value (US$ Million) Forecast by Distribution Channel, 2018 to 2033
Table 30: Asia Pacific Market Volume (Tons) Forecast by Distribution Channel, 2018 to 2033
Table 31: Middle East and Africa Market Value (US$ Million) Forecast by Country, 2018 to 2033
Table 32: Middle East and Africa Market Volume (Tons) Forecast by Country, 2018 to 2033
Table 33: Middle East and Africa Market Value (US$ Million) Forecast by Type, 2018 to 2033
Table 34: Middle East and Africa Market Volume (Tons) Forecast by Type, 2018 to 2033
Table 35: Middle East and Africa Market Value (US$ Million) Forecast by Distribution Channel, 2018 to 2033
Table 36: Middle East and Africa Market Volume (Tons) Forecast by Distribution Channel, 2018 to 2033
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List Of Figures
Figure 01: Global Market Value (US$ Million) by Type, 2023 to 2033
Figure 02: Global Market Value (US$ Million) by Distribution Channel, 2023 to 2033
Figure 03: Global Market Value (US$ Million) by Region, 2023 to 2033
Figure 04: Global Market Value (US$ Million) Analysis by Region, 2018 to 2033
Figure 05: Global Market Volume (Tons) Analysis by Region, 2018 to 2033
Figure 06: Global Market Value Share (%) and BPS Analysis by Region, 2023 to 2033
Figure 07: Global Market Y-o-Y Growth (%) Projections by Region, 2023 to 2033
Figure 08: Global Market Value (US$ Million) Analysis by Type, 2018 to 2033
Figure 09: Global Market Volume (Tons) Analysis by Type, 2018 to 2033
Figure 10: Global Market Value Share (%) and BPS Analysis by Type, 2023 to 2033
Figure 11: Global Market Y-o-Y Growth (%) Projections by Type, 2023 to 2033
Figure 12: Global Market Value (US$ Million) Analysis by Distribution Channel, 2018 to 2033
Figure 13: Global Market Volume (Tons) Analysis by Distribution Channel, 2018 to 2033
Figure 14: Global Market Value Share (%) and BPS Analysis by Distribution Channel, 2023 to 2033
Figure 15: Global Market Y-o-Y Growth (%) Projections by Distribution Channel, 2023 to 2033
Figure 16: Global Market Attractiveness by Type, 2023 to 2033
Figure 17: Global Market Attractiveness by Distribution Channel, 2023 to 2033
Figure 18: Global Market Attractiveness by Region, 2023 to 2033
Figure 19: North America Market Value (US$ Million) by Type, 2023 to 2033
Figure 20: North America Market Value (US$ Million) by Distribution Channel, 2023 to 2033
Figure 21: North America Market Value (US$ Million) by Country, 2023 to 2033
Figure 22: North America Market Value (US$ Million) Analysis by Country, 2018 to 2033
Figure 23: North America Market Volume (Tons) Analysis by Country, 2018 to 2033
Figure 24: North America Market Value Share (%) and BPS Analysis by Country, 2023 to 2033
Figure 25: North America Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033
Figure 26: North America Market Value (US$ Million) Analysis by Type, 2018 to 2033
Figure 27: North America Market Volume (Tons) Analysis by Type, 2018 to 2033
Figure 28: North America Market Value Share (%) and BPS Analysis by Type, 2023 to 2033
Figure 29: North America Market Y-o-Y Growth (%) Projections by Type, 2023 to 2033
Figure 30: North America Market Value (US$ Million) Analysis by Distribution Channel, 2018 to 2033
Figure 31: North America Market Volume (Tons) Analysis by Distribution Channel, 2018 to 2033
Figure 32: North America Market Value Share (%) and BPS Analysis by Distribution Channel, 2023 to 2033
Figure 33: North America Market Y-o-Y Growth (%) Projections by Distribution Channel, 2023 to 2033
Figure 34: North America Market Attractiveness by Type, 2023 to 2033
Figure 35: North America Market Attractiveness by Distribution Channel, 2023 to 2033
Figure 36: North America Market Attractiveness by Country, 2023 to 2033
Figure 37: Latin America Market Value (US$ Million) by Type, 2023 to 2033
Figure 38: Latin America Market Value (US$ Million) by Distribution Channel, 2023 to 2033
Figure 39: Latin America Market Value (US$ Million) by Country, 2023 to 2033
Figure 40: Latin America Market Value (US$ Million) Analysis by Country, 2018 to 2033
Figure 41: Latin America Market Volume (Tons) Analysis by Country, 2018 to 2033
Figure 42: Latin America Market Value Share (%) and BPS Analysis by Country, 2023 to 2033
Figure 43: Latin America Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033
Figure 44: Latin America Market Value (US$ Million) Analysis by Type, 2018 to 2033
Figure 45: Latin America Market Volume (Tons) Analysis by Type, 2018 to 2033
Figure 46: Latin America Market Value Share (%) and BPS Analysis by Type, 2023 to 2033
Figure 47: Latin America Market Y-o-Y Growth (%) Projections by Type, 2023 to 2033
Figure 48: Latin America Market Value (US$ Million) Analysis by Distribution Channel, 2018 to 2033
Figure 49: Latin America Market Volume (Tons) Analysis by Distribution Channel, 2018 to 2033
Figure 50: Latin America Market Value Share (%) and BPS Analysis by Distribution Channel, 2023 to 2033
Figure 51: Latin America Market Y-o-Y Growth (%) Projections by Distribution Channel, 2023 to 2033
Figure 52: Latin America Market Attractiveness by Type, 2023 to 2033
Figure 53: Latin America Market Attractiveness by Distribution Channel, 2023 to 2033
Figure 54: Latin America Market Attractiveness by Country, 2023 to 2033
Figure 55: Europe Market Value (US$ Million) by Type, 2023 to 2033
Figure 56: Europe Market Value (US$ Million) by Distribution Channel, 2023 to 2033
Figure 57: Europe Market Value (US$ Million) by Country, 2023 to 2033
Figure 58: Europe Market Value (US$ Million) Analysis by Country, 2018 to 2033
Figure 59: Europe Market Volume (Tons) Analysis by Country, 2018 to 2033
Figure 60: Europe Market Value Share (%) and BPS Analysis by Country, 2023 to 2033
Figure 61: Europe Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033
Figure 62: Europe Market Value (US$ Million) Analysis by Type, 2018 to 2033
Figure 63: Europe Market Volume (Tons) Analysis by Type, 2018 to 2033
Figure 64: Europe Market Value Share (%) and BPS Analysis by Type, 2023 to 2033
Figure 65: Europe Market Y-o-Y Growth (%) Projections by Type, 2023 to 2033
Figure 66: Europe Market Value (US$ Million) Analysis by Distribution Channel, 2018 to 2033
Figure 67: Europe Market Volume (Tons) Analysis by Distribution Channel, 2018 to 2033
Figure 68: Europe Market Value Share (%) and BPS Analysis by Distribution Channel, 2023 to 2033
Figure 69: Europe Market Y-o-Y Growth (%) Projections by Distribution Channel, 2023 to 2033
Figure 70: Europe Market Attractiveness by Type, 2023 to 2033
Figure 71: Europe Market Attractiveness by Distribution Channel, 2023 to 2033
Figure 72: Europe Market Attractiveness by Country, 2023 to 2033
Figure 73: Asia Pacific Market Value (US$ Million) by Type, 2023 to 2033
Figure 74: Asia Pacific Market Value (US$ Million) by Distribution Channel, 2023 to 2033
Figure 75: Asia Pacific Market Value (US$ Million) by Country, 2023 to 2033
Figure 76: Asia Pacific Market Value (US$ Million) Analysis by Country, 2018 to 2033
Figure 77: Asia Pacific Market Volume (Tons) Analysis by Country, 2018 to 2033
Figure 78: Asia Pacific Market Value Share (%) and BPS Analysis by Country, 2023 to 2033
Figure 79: Asia Pacific Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033
Figure 80: Asia Pacific Market Value (US$ Million) Analysis by Type, 2018 to 2033
Figure 81: Asia Pacific Market Volume (Tons) Analysis by Type, 2018 to 2033
Figure 82: Asia Pacific Market Value Share (%) and BPS Analysis by Type, 2023 to 2033
Figure 83: Asia Pacific Market Y-o-Y Growth (%) Projections by Type, 2023 to 2033
Figure 84: Asia Pacific Market Value (US$ Million) Analysis by Distribution Channel, 2018 to 2033
Figure 85: Asia Pacific Market Volume (Tons) Analysis by Distribution Channel, 2018 to 2033
Figure 86: Asia Pacific Market Value Share (%) and BPS Analysis by Distribution Channel, 2023 to 2033
Figure 87: Asia Pacific Market Y-o-Y Growth (%) Projections by Distribution Channel, 2023 to 2033
Figure 88: Asia Pacific Market Attractiveness by Type, 2023 to 2033
Figure 89: Asia Pacific Market Attractiveness by Distribution Channel, 2023 to 2033
Figure 90: Asia Pacific Market Attractiveness by Country, 2023 to 2033
Figure 91: Middle East and Africa Market Value (US$ Million) by Type, 2023 to 2033
Figure 92: Middle East and Africa Market Value (US$ Million) by Distribution Channel, 2023 to 2033
Figure 93: Middle East and Africa Market Value (US$ Million) by Country, 2023 to 2033
Figure 94: Middle East and Africa Market Value (US$ Million) Analysis by Country, 2018 to 2033
Figure 95: Middle East and Africa Market Volume (Tons) Analysis by Country, 2018 to 2033
Figure 96: Middle East and Africa Market Value Share (%) and BPS Analysis by Country, 2023 to 2033
Figure 97: Middle East and Africa Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033
Figure 98: Middle East and Africa Market Value (US$ Million) Analysis by Type, 2018 to 2033
Figure 99: Middle East and Africa Market Volume (Tons) Analysis by Type, 2018 to 2033
Figure 100: Middle East and Africa Market Value Share (%) and BPS Analysis by Type, 2023 to 2033
Figure 101: Middle East and Africa Market Y-o-Y Growth (%) Projections by Type, 2023 to 2033
Figure 102: Middle East and Africa Market Value (US$ Million) Analysis by Distribution Channel, 2018 to 2033
Figure 103: Middle East and Africa Market Volume (Tons) Analysis by Distribution Channel, 2018 to 2033
Figure 104: Middle East and Africa Market Value Share (%) and BPS Analysis by Distribution Channel, 2023 to 2033
Figure 105: Middle East and Africa Market Y-o-Y Growth (%) Projections by Distribution Channel, 2023 to 2033
Figure 106: Middle East and Africa Market Attractiveness by Type, 2023 to 2033
Figure 107: Middle East and Africa Market Attractiveness by Distribution Channel, 2023 to 2033
Figure 108: Middle East and Africa Market Attractiveness by Country, 2023 to 2033
Know thy Competitors
Competitive landscape highlights only certain players
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- FAQs -
What value is the market estimated to reach in 2023?
The global market size is estimated to be valued at US$ 964 million in 2023.
What was the global market size for 2022?
The market was reported at US$ 901 million in 2022.
What valuation is the Market projected to reach in 2033?
The market is expected to reach a valuation of US$ 2 billion in 2033.
What value CAGR did the market exhibit over the last 4 years?
The market registered a CAGR of 6.2% over the last 4 years.
What is the projected market CAGR from 2023 to 2033?
The market is projected to witness a CAGR of 7.4% from 2023 to 2033.
Which is the top type of Hot Cocoa Mix what is its projected CAGR?
Multi-flavored hot cocoa is the top type of the hot cocoa mix and is projected to witness large demand till 2033 with expected growth at a CAGR of 7.2% by 2033.
What is the projected market size in the United States by 2033?
The market in the United States is projected to witness a market size of US$ 694.4 million and is expected to grow at 7.1% CAGR from 2023 to 2033.
Which are the key companies manufacturing Hot Cocoa Mix?
Key players in the market are Hershey's, Nestle, Starbucks, Lindt & Sprüngli AG, Godiva, Venchi, Ghirardelli Chocolate Company, Conagra Brands, Williams-Sonoma Inc., and Castle Kitchen.
Hot Cocoa Mix Market