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Chocolate Market Expected to Touch $ 98.3 Billion by 2016

The global chocolate market is estimated to reach $98.3 billion in 2016 from $83.2 billion in 2010, at a CAGR of 2.7% from 2011 to 2016.

 
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Dallas, TX -- (SBWIRE) -- 06/18/2014 -- The report ‘Global Chocolate, Cocoa Beans, Lecithin, Sugar and Vanilla Market By Market Share, Trade, Prices, Geography Trend and Forecast (2011-2016)’ analyzes the chocolate market by products, sales category, and geography and studies the major market drivers, restraints, and opportunities for the chocolate market in North America, Europe, and Asia. The global chocolate market is expected to grow from $83.2 billion in 2010.to $98.3 billion in 2016 at an estimated CAGR of 2.7% from 2011 to 2016.

Browse 139 market data tables over 380 pages and in-depth TOC on ‘Global chocolate, cocoa beans, lecithin, sugar and vanilla market by market share, trade prices, geography trends and forecast (2011-2016)’

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Some of the major drivers of the industry identified in this report are health benefits, large variety of applications, and seasonal and festive sales. The major restraints identified in this report are raw material prices and the dependency of the industry on unstable economies for cocoa supply. Major threats the industry is facing are the rising counterfeit market and changing consumer preferences. Opportunities that can change the dynamics of this industry are lower penetration in developing economies, organic and fair trade chocolate, and the use of chocolate as functional food.

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The market in Asia is driving sales and is expected to hold a 20% share of the global market in 2016. The market in Asia is expected to have a high CAGR of 4.7% due to lower penetration, and sales in the Asian region are expected to boost their share from $15 billion in 2010 to $19.7 billion in 2016. The U.S. leads the chocolate market in North America with a market share of around 86.3%, while Japan leads the Asian market with a 39.7% market share. In Europe, the UK has the largest demand with a market share of 16.4%, followed by Germany with 15.9%.

The report basically focuses on three segments: by products, by sales category, and by geography. The product segmentation covers different chocolate types: dark chocolate, milk chocolate, and white chocolate. The second segmentation discusses about the major category of sale of premium chocolate, everyday chocolate, and seasonal chocolate.

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