Global Milk Chocolate Market Set to Grow with CAGR of 6.7 % By 2026 With Leading Players
Global milk chocolate market By Type (Conventional Milk Chocolate, Organic Milk Chocolate), Form (Bar, Candies, Chocolate Coated Nuts, Chocolate Chips, Other Forms), Distribution Channel (Supermarkets/Hypermarkets, Specialty Stores, Convenience Stores, Online Stores, Others)
Market Analysis: Global Milk Chocolate Market
Global milk chocolate market is projecting a rise in estimated value by registering a substantial CAGR of 6.7% in the forecast period of 2019-2026 due to wide applications of milk chocolate in food items such as nuts, change in tastes and preferences of consumers and increase in consumption for boosting memory, reducing heart strokes risk & improving immune system
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Competitive Analysis
Global milk chocolate market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of milk chocolate market for Global, Europe, North America, Asia Pacific and South America.
Market Definition: Global Milk Chocolate MarketGlobal milk chocolate market is an eatable product derived from the cocoa which is mixed with fat such as cocoa butter and finely powdered sugar. Milk chocolate is produced from various milk sources such as milk powder, liquid milk, and condensed milk. It has been observed through the R&D studies that these milk chocolates helps in boosting the memory and reduces the risk of heart attacks and strokes. It improves the efficiency of immune system.
Market Drivers:
- Change in tastes and preferences of consumers increasing the market
- Usage of dairy based chocolates in the diet is enhancing the market
- Wide applications of milk chocolate in food items such as nuts, caramel, milk shakes and others boosts the market growth
- Factors like boosting memory, reducing heart strokes risk and improving immune system drives the market growth
Market Restraints:
- Intense competition from the dark chocolates may hamper the growth
- Fluctuation in the prices of the cocoa would restrain the market growth
Segmentation: Global Milk Chocolate Market
By Type
- Conventional Milk Chocolate
- Organic Milk Chocolate
By Form
- Bar
- Candies
- Chocolate Coated Nuts
- Chocolate Chips
- Other Forms
By Distribution Channel
- Supermarkets/Hypermarkets
- Specialty Stores
- Convenience Stores
- Online Stores
- Others
By Application
- Food and Beverages
- Personal Care and Cosmetics
- Pharmaceuticals
- Others
Key Developments in the Market
In June 2019, Mondelez launched a new chocolate having 30% less sugar in UK and India market. The organization is focussing on the consumers which are health conscious and prefer less sweetness in the chocolate
In January 2019, World Confectionary Group came forward to acquire the Natra which is a producer of ranges of chocolate products. The company focussed on the industrial sectors such as consumers, industrial manufacturing and business services. This acquisition will further help in the business expansion.
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