IMARC Group, a leading market research company, has recently releases report titled “Europe Premium Chocolate Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” The study provides a detailed analysis of the industry, including the Europe premium chocolate market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How big is the Europe premium chocolate market?
The Europe premium chocolate market size reached US$ 6.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 10.2 Billion by 2028, exhibiting a growth rate (CAGR) of 7.6% during 2023-2028.
What is premium chocolate?
Premium chocolates refer to the edible products obtained by fermenting and roasting good quality seeds that are obtained from the pods of the Theobroma cacao trees. Commonly rich in caffeine, phenethylamine, theobromine and flavonoids, they can be widely available in dark, milk or white variants. These premium chocolates require superior craftsmanship to manufacture variants with a richer taste and texture when compared with the regular chocolates. These variants are also wrapped in aesthetically- pleasing packages to grab the attention of the customers instantaneously. These chocolates are additionally infused with a vast array of unconventional flavors, including mint, salt, caramel, espresso, hazelnut, peanut butter and tropical fruits, due to which they are widely gaining prominence among the masses.
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What are the growth prospects and trends in the Europe premium chocolate industry?
The market in Europe is primarily driven by the increasing preference for premium and good quality chocolates among the masses. Growing awareness regarding the adverse effects of consuming synthetic and cheaply-sourced products is also contributing to the increasing demand for premium chocolates. Along with this, the advent of sugar-free and organic chocolates in the market is gaining widespread prominence among the masses. This can be accredited to the rising health consciousness among individuals in the region. Additionally, vegan and gluten-free variants are experiencing extensive popularity among vegans and people with gluten allergy. The market is further driven by the rising demand for limited edition seasonal premium chocolates across Europe. Supported by the increasingly popular trend of gifting premium chocolates as a luxury present in the region, this is providing a thrust to the market growth.
Moreover, there has been an increase in the number of private-label chocolatiers in the region who specialize in artisanal and specialized products. They produce fine quality chocolates with exotic flavors and also customize variants according to the requirements of the customers. Coupled with the strong presence of efficient e-commerce facilities in Europe, this is providing an impetus to the market growth. Some of the other factors contributing to the market growth include the rising popularity of liquor-based premium chocolates and the increasing uptake of premium textured chocolates that are fortified with high-quality nuts, grains, and cereals.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Product Type:
- Dark Chocolate
- Milk Chocolate
- White Chocolate
Breakup by Packaging Type:
- Standard Packaging
- Gift Packaging
Breakup by Distribution Channel:
- Supermarkets and Hypermarkets
- Convenience Stores
- Specialty Stores
- Online Stores
Breakup by Country:
- United Kingdom
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Who are the key players operating in the industry?
The report covers the major market players including:
- Cemoi Group
- Chocoladefabriken Lindt & Sprüngli AG
- Hershey Company
- Ferrero International S.A
- Mars Incorporated
- Mondelez International Inc
- Nestlé S.A.
- Neuhaus (United Belgian Chocolate Makers)
- Pierre Marcolini Group
- Pladis Global (Yildiz Holding)
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
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