Chocolate Confectionery Market To Hit US$154.5 Billion By 2025
Monday, March 12th, 2018 | 614 Views
The global chocolate confectionery market is projected to reach US$154.5 billion by 2025, according to market intelligence agency Grand View Research.
Key factors that are driving the market growth include the recent approvals of factor concentrate by regulatory bodies, supportive government initiatives and mandates, as well as favourable impact of advertising.
Some chocolate confectionery manufacturers have been actively holding marketing and promotional activities to increase the outreach of their products to their targeted end user segments. In addition, appealing packaging of products, innovative branding activities and promotional events increase the demand for chocolates amongst consumers. Gift packages with chocolates, products targeting holiday and festival seasons, “healthy snack sized” products are popular amongst parents and children, who constitute a major end user segment.
Dark chocolate is likely to witness the fastest growth over the forecast period as it is considered a healthier option with lower calories as compared to milk and white chocolates.
Asia Pacific is anticipated to witness substantial growth over the forecast period, owing to large population base and rising disposable income in the region. In addition, several large international confectionery manufacturers are setting up local manufacturing, production and storage facilities in varied countries in this region such as India and China.