Chocolate Caramel Market size was estimated at $xx Million in 2020 and is expected to reach $xx Million by 2027, growing at a CAGR of 10.7% during the forecast period of 2020 to 2027.
Chocolate Caramel Market Growth and Trends
Several factors support a continued growth curve for the market,On account of increasing disposable incomes and changing lifestyle, there has been an augmented demand for premium products. Nowadays, consumers are willing to pay higher for products which offer better quality and flavor. Another major trend is the rising health consciousness among consumers which has led to an increase in demand for caramel chocolates containing lesser amounts of fat and sugar. In view of this, manufacturers are offering healthier options in smaller portion size to consumers who want to monitor their calorie intake. The chocolate market has also been majorly driven by growing utilization of chocolate caramel as an ingredient in the food and beverage industry to enhance the taste of end product. In addition, the growing consumption of flavored candies and confectionery items among the young population, especially kids are some factors projected to support the revenue growth of the target market. Moreover, growing urbanization and have also changing buying patterns of the consumers regarding food items have also propelled the target market growth. However, increasing health awareness, especially among geriatric population is a major factor impeding the market growth.
Chocolate Caramel Market Segmentation
The chocolate caramel market can be segmented on the basis of type, application, distribution channel and geography. Further, the market is segregated as dark chocolate and white chocolate. The dark chocolate segment accounted for the largest market revenue in 2021. This growth is majorly attributed to the increasing awareness about dark chocolate among consumers. In addition, the inclusion of some organic constituents and natural sweeteners in dark chocolate is further augmenting the growth of this segment. For instance, this segment is estimated to grow at a CAGR of 6.5% during 2022–2032. Based on distribution channels, the market has been classified as independent retailers, supermarket and hypermarket, specialist retailers, online retailers, and others. However, the hypermarkets and supermarket segment held the largest share of the overall market revenue in 2021. Supermarket and hyper market have the accessibility of all caramelized chocolates across distinct brands. Thus, consumer finds it easy to access caramel chocolate of his choice in supermarkets. This is clearly a major reason behind the significant growth of this segment. However, online retailers managed to generate a decent revenue during the pandemic times. The chocolate caramel market has its huge application in making sauces, candies, coloring and flavoring and others. The market generated a significant revenue from the sauces and candies segment. However, increasing awareness about dark chocolates among the consumers leads to a huge application of caramel chocolates in flavoring and coloring in different kind of foods and deserts. Thus, coloring, and flavoring segment is anticipated to account for the largest revenue share during the forecast period.
Chocolate Caramel Market Regional Analysis
Chocolate caramel, both Black and White, is mainly used for ice cream topping and flavoring of candies, cakes, and doughnuts. The market is considerably high in India and China. This can be accredited to the attractive packaging and the high numbers of retail outlets making it easily available to prospective consumers. Thanks to consistently-improving quality and flavor, the market has a likelihood of rising in Europe, North America, and Africa. However, with the increased cases of diabetes and obesity, the market might be affected negatively worldwide. The market could benefit much with innovation of less sugary chocolate caramel. Companies that play a major role in the market include; Curio Spice company, Meiji America incorporation and Arpi Chocolate.
Chocolate Caramel Market Regional Analysis
Some of the major players of the market are Cargill Inc., Amul, Ezaki Glico Co. Ltd., Barry Callebaut, Ferrero S.p.A., Nestle S.A., Mars, Blommer, Mondelez International, Inc. and Brookside. The presence of highly competitive market players is the main attribute increasing the market revenue steadily. For instance, in January 2021, Mondelez international Inc. acquired HU Master Holdings, which in turn benefited the overall chocolate caramel market revenue. Further, in April 2019, Mondelez made a heavy investment in HU through its Snack Futures. Amul has been a highly active company in terms of launching new products. In July 2020, this company launched its 33 new products which was the greatest count of products launched within a quarter. Gujarat cooperative milk marketing Federation generated a total revenue of ₹38,670 crore in 2020. According to the reports, Amul products are consumed by more than 1 billion consumers every day. Thus, the presence of well-established market players in this market will help in gaining more popularity during the forecast period.
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• Estimation/projections/forecast for revenue and unit sales (2022 – 2032)
• Data breakdown for every market segment (2022 – 2032)
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• Price analysis of each product type
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• Import and export analysis
• Competition analysis/market share
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Chocolate Caramel Market Segments and Revenue Breakdown
By type (Revenue, USD Million, 2022 - 2032):
• Dark chocolate
• White chocolate
By Strategic analysis (Revenue, USD Million, 2022 - 2032):
• Value Chain Analysis
• Opportunities Analysis
• Market Life Cycle Analysis
By Application (Revenue, USD Million, 2022 - 2032):
• Coloring and flavoring
By Distribution channel (Revenue, USD Million, 2022 - 2032):
• Supermarket and hypermarket
• Independent retailers
• Specialist retailers
• Online retailers
By region (Revenue, USD Million, 2022 - 2032):
• United States
• United Kingdom
• South Korea
• Middle East
• Rest of World (Latin America, Africa, and the Middle East)
Chocolate Caramel market Industry players:
• Cargill Inc.,
• Ezaki Glico Co. Ltd.
• Barry Callebaut
• Ferrero S.p.A.
• Nestle S.A.
• Mondelez International, Inc.
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