Food & Beverage

Image

Global Milk Chocolate Market – Industry Trends and Forecast to 2029

  • Food & Beverage
  • Upcoming Report
  • May 2022
  • Global
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

Global Milk Chocolate Market – Industry Trends and Forecast to 2029

Market Size in USD Billion

CAGR - % Diagram

Diagram Forecast Period 2021–2029
Diagram Market Size (Base Year) USD 18.50 Billion
Diagram Market Size (Forecast Year) USD 32.26 Billion
Diagram CAGR %

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), Application (Food and Beverages, Personal Care and Cosmetics, Pharmaceuticals, Others) – Industry Trends and Forecast to 2029

Market Analysis and Size

The milk chocolate market's growth prospects are supported by the constant desire to create, unveil, and commercialize new delicacies. Two key factors driving product development in the milk chocolate market are taste and exquisiteness.

Data Bridge Market Research analyses that the milk chocolate market was valued at USD 18.50 billion in 2021 and is expected to reach the value of USD 32.26 billion by 2029, at a CAGR of 7.2% during the forecast period of 2022 to 2029.

Market Definition

Chocolate is an edible product made from cocoa that has been combined with fats such as cocoa butter and finely powdered sugar. Milk chocolate is made from various milk sources, including milk powder, liquid milk, and condensed milk. R&D studies have revealed that these milk chocolates aid in memory enhancement and lower the risk of heart attacks and strokes. It boosts the immune system's effectiveness.

Report Scope and Market Segmentation

Report Metric

Details

Forecast Period

2022 to 2029

Base Year

2021

Historic Years

2020 (Customizable to 2019 - 2014)

Quantitative Units

Revenue in USD Billion, Volumes in Units, Pricing in USD

Segments Covered

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), Application (Food and Beverages, Personal Care and Cosmetics, Pharmaceuticals, Others)

Countries Covered

U.S., Canada and Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America

Market Players Covered

Ghirardelli Chocolate Company (US), Barry Callebaut (Switzerland), The Kraft Heinz Company (US), Agostoni Chocolate (US), The Hershey Company (US), GCPPL Ltd. (India), Blommer Chocolate Company (US), Chocoladefabriken Lindt & Sprüngli AG (Switzerland), Ferrero (Italy), Mondelez International (US), Chocolatiers (UK) Ltd. (UK), Nestle S.A (Switzerland), Cargill, Incorporated. (US), LOTTE SHOPPING Co., Ltd. (South Korea), Mars, Incorporated (US), Mondelez International Inc. (US), Strauss Group (Israel), Favarger SA (Switzerland), Unilever (UK), Chocolat Bernrain AG (Switzerland)

Opportunities

  • Rising e-commerce
  • Growing variety in supply chains
  • The ease of payment for products through online channels, as well as the wide range of chocolate flavors and textures

Milk Chocolate Market Dynamics

Drivers

  • Rising online retails as well as expansion in supply chains

Advances in online retail are one of the key trends driving the evolution of the milk chocolate market. Large product distribution channels include convenience stores, specialty stores, supermarkets, drug stores, and hypermarkets. Retailers and manufacturers' ongoing efforts to expand their supply and distribution chains have been critical in increasing access to developments in the milk chocolate market.

  • Diversification of products according to the needs

A major driving force in the milk chocolate market is the constant desire to try new ethnic flavours and tastes. The chocolate industry has shifted its focus over time to produce healthier products. This trend is being driven by a growing health-conscious population, particularly in emerging economies. Advances in organised retail in developing regions have fueled the evolution of the milk chocolate market.

Opportunity

The ease of payment for products via online channels, as well as the diverse range of chocolate flavours and textures, are key factors driving the popularity of e-commerce in the milk chocolate market. Furthermore, milk chocolate is increasingly being used in the formulation of a wide range of beverages and confectionery products, such as cakes, milkshakes, croissants, and hot chocolate, which is contributing to the growth of the global milk chocolate market..

Restraints

However, the easy availability of product substitutes, stringent government regulations on quality standardisation, and supply chain disruptions caused by the pandemic will limit the market's potential for growth. The high cost of R&D activities, as well as the volatility of raw material prices, will slow the growth rate of the milk chocolate market. Other market growth restraints include rising obesity prevalence, high blood sugar levels in patients, and an increase in the global incidence rate of diabetes..

This milk chocolate market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the milk chocolate market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Milk Chocolate Market

Low sales volumes caused by the COVID-19 epidemic, as well as supply-side concerns about quality and certification, hampered the milk chocolate market. The Fine Cacao and Chocolate Institute (FCCI) examined the impact of the COVID-19 pandemic on exports, and the results were troubling. According to Dominican Republic reports, the government imposed a strict lockdown that prevented growers and agricultural workers from travelling to the plantations for several weeks until exceptions were granted. As a result of the disruption in the raw material supply chain, followed by the lockdown, an increasing number of specialty stores remained closed for an extended period of time, resulting in lower volume consumption of premium chocolates..

Recent Development

  • To commemorate All Women and Girls Month in February 2022, Hershey's created a chocolate bar. The "Celebrate SHE" bars are limited in quantity. The brand highlighted SHE in the centre of the milk chocolate bar.
  • Cadbury, a Mondelez International brand, will launch the Twist Wrap packaging solution for its Duos range in January 2022, allowing consumers to munch in small pieces by twisting and sealing the box after eating half of the chocolate bar.
  • In collaboration with Lagardère, Ferrero intends to relaunch the new Ferrero Rocher Tablets in the travel-retail channel in September 2021. Ferrero introduces its latest chocolate tablet in three flavours: milk, dark 55 percent cocoa, and white..

Milk Chocolate Market Scope

The milk chocolate market is segmented on the basis of type, form, distribution channel and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

  • Conventional milk chocolate
  • Organic milk chocolate
  • Others

On the basis of type, the milk chocolate market is segmented into conventional milk chocolate, organic milk chocolate.

Form

  • Bar
  • Candies
  • Chocolate Coated Nuts
  • Chocolate Chips
  • Other Forms

On the basis of form, the milk chocolate market is segmented into bar, candles, chocolate coated nuts, chocolate chips, other forms

Distribution channel

  • Hypermarkets/supermarkets
  • Specialty store
  • Convenience stores
  • Online store
  • Other

On the basis of distribution channel, the milk chocolate market is segmented into hypermarkets/supermarkets, specialty store, convenience stores, online store, and others.

Application

  • Food and beverages
  • Personal care and cosmetics
  • Pharmaceuticals
  • Others

On the basis of distribution channel, the milk chocolate market is segmented into food and beverages, personal care and cosmetics, pharmaceuticals and others

Milk Chocolate Market Regional Analysis/Insights

The milk chocolate market is analyzed, and market size insights and trends are provided by country, type, form, distribution channel, and application.

The countries covered in the milk chocolate market report are U.S., Canada and Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

The Asia-Pacific region dominates the milk chocolate market and will continue to do so during the forecast period due to the region's tremendous popularity and substantial consumption of chocolate, rising consumption of waffles and pitas prepared with chocolate spreads, increasing adoption of Western culture and foods that have replaced traditional foods with bread and toasts, growing population, rising lifestyle changes.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Milk Chocolate Market Share Analysis

The milk chocolate market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to milk chocolate market.

Some of the major players operating in the milk chocolate market are:

  • Ghirardelli Chocolate Company (US)
  • Barry Callebaut (Switzerland)
  • The Kraft Heinz Company (US)
  • Agostoni Chocolate (US)
  • The Hershey Company (US)
  • GCPPL Ltd. (India)
  • Blommer Chocolate Company (US)
  • Chocoladefabriken Lindt & Sprüngli AG (Switzerland)
  • Ferrero (Italy)
  • Mondelez International (US)
  • Chocolatiers (UK) Ltd. (UK)
  • Nestle S.A (Switzerland)
  • Cargill, Incorporated. (US)
  • LOTTE SHOPPING Co., Ltd. (South Korea)
  • Mars, Incorporated (US)
  • Mondelez International Inc. (US)
  • Strauss Group (Israel)
  • Favarger SA (Switzerland)
  • Unilever (UK)
  • Chocolat Bernrain AG (Switzerland)


SKU-

Please fill in the below form for detailed Table of Content

By clicking the "Submit" button, you are agreeing to the Data Bridge Market Research Privacy Policy and Terms and Conditions

Please fill in the below form for detailed List of Table

By clicking the "Submit" button, you are agreeing to the Data Bridge Market Research Privacy Policy and Terms and Conditions

Please fill in the below form for detailed List of Figure

By clicking the "Submit" button, you are agreeing to the Data Bridge Market Research Privacy Policy and Terms and Conditions

Please fill in the below form for Infographics

By clicking the "Submit" button, you are agreeing to the Data Bridge Market Research Privacy Policy and Terms and Conditions

Research Methodology:

Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

Please fill in the below form for Research Methodology

By clicking the "Submit" button, you are agreeing to the Data Bridge Market Research Privacy Policy and Terms and Conditions

Customization Available:

Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Fact book) or can assist you in creating presentations from the data sets available in the report.

Please fill in the below form for Available Customization

By clicking the "Submit" button, you are agreeing to the Data Bridge Market Research Privacy Policy and Terms and Conditions

FREQUENTLY ASK QUESTIONS

The Milk Chocolate Market will be worth USD 32.26 billion in the forecast period by 2029.
The Milk Chocolate Market growth rate is 7.2% during the forecast period by 2029.
Rising online retails as well as expansion in supply chains & Diversification of products according to the needs are the growth drivers of the Milk Chocolate Market.
The type, form, distribution channel and application are the factors on which the Milk Chocolate Market research is based.
Major companies in the Milk Chocolate Market are Ghirardelli Chocolate Company (US), Barry Callebaut (Switzerland), The Kraft Heinz Company (US), Agostoni Chocolate (US), The Hershey Company (US), GCPPL Ltd. (India), Blommer Chocolate Company (US), Chocoladefabriken Lindt & Sprüngli AG (Switzerland), Ferrero (Italy), Mondelez International (US), Chocolatiers (UK) Ltd. (UK), Nestle S.A (Switzerland), Cargill, Incorporated. (US), LOTTE SHOPPING Co., Ltd. (South Korea), Mars, Incorporated (US), Mondelez International Inc. (US), Strauss Group (Israel), Favarger SA (Switzerland), Unilever (UK), Chocolat Bernrain AG (Switzerland).
Free Sample Report

CHOOSE LICENCE TYPE

  • 7000.00
  • 4800.00
  • 3000.00
  • 8000.00
  • 12000.00

Why Choose Us

Industry Coverage

DBMR works across the globe in multiple industries which equip us with knowledge across verticals and provide our clients with insights not only from their industry but how other industries will impact their ecosystem.

Regional Coverage

Coverage of Data Bridge is not restricted to developed or emerging economies. We work across the globe covering the largest array of countries where no other market research or business consulting firm has ever conducted research; creating growth opportunities for our clients in areas which are still unknown.

Technology Coverage

In today’s world, technology drives the market sentiment, so our vision is to provide our clients insights not only for developed technologies but upcoming and disrupting technological changes throughout the product lifecycle by enabling them with unforeseen opportunities in the market which will create disruption in their industry. This leads to innovation and our clients to come out as winners.

Goal Oriented Solutions

DBMR goal is to help our clients achieve their goals through our solutions; hence we formatively create the most appropriate solutions for our client needs, saving time and efforts for them to drive their grand strategies.

Unparallel Analyst Support

Our analysts take pride in our clients’ success. Unlike others, we believe in working along our clients to achieve their goals with 24 hours analyst support determining the correct needs and inspire innovation through service.

Banner

Client Testimonials