Chocolate spread is a thick chocolate-flavored spread used over bread, doughnuts, toasts, pancakes, and other similar products. Chocolate spread is typically produced from chocolate and vegetable or palm oil, as well as milk, sugar, and additional flavours. Some varieties contain nuts (for example, ground hazelnuts) or honey. Chocolate spread is a popular product among children, and it is commonly used as a spread on the sandwiches.
MARKET SCOPE
The "Global Chocolate Spread Market Analysis to 2028" is a specialized and in-depth study of the food and beverages industry with a special focus on the global market trend analysis. The report aims to provide an overview of the chocolate spread market with detailed market segmentation by product, form, distribution channel, and geography. The report provides key statistics on the market status of the leading chocolate spread market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on packaging type, the global chocolate spread market is segmented into bottles & jars, pouches, others.
- On the basis of category, the market is segmented into organic and conventional.
- On the basis of distribution channel, the market is segmented into supermarket & hypermarkets, convenience stores, online retail, and others.
MARKET DYNAMICS
Drivers
- Rising consumption of chocolate-based spreads as a part of the breakfast meal is significantly driving the market growth.
- The growing awareness about the favorable health effects associated with the consumption of dark chocolates is significantly contributing to the expansion of the chocolate spread market.
- The chocolate spread market is driven by growth of the rising demand for ready to eat products.
- With an increase in the marketing initiatives taken by a number of players through various advertising mediums, such as newspaper, television, etc is propelling the demand of chocolate spread market.
Restraints
- Fluctuating prices of raw material such as cocoa and sugar may impede the growth of the market.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The chocolate spread market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the chocolate spread market in these regions.
IMPACT OF COVID-19 ON CHOCOLATE SPREAD MARKET
Although the COVID-19 pandemic is still transforming the evolution of numerous industries, the outbreak's immediate impact is diverse. The impact of lockdowns, supply chain interruptions, demand destruction, and changes in customer behavior has had a substantial impact on the chocolate spread market. Despite the effects of Covid-19, processed dairy products can reach foodservice restaurants because most chains collaborate closely with food supply firms to ensure flawless deliveries and operations. This has kept the processed chocolate spread sector viable. The rapid expansion of food service chains has played a significant impact on the demand for chocolate spread. In the middle of the 2020 Covid-19 outbreak, the market is currently seeing a decrease, with people resorting to social isolation. Despite the influence of Covid-19, processed dairy products can reach foodservice restaurants because most chains collaborate closely with food supplier firms.
MARKET PLAYERS
The report covers key developments in the chocolate spread market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from chocolate spread market are anticipated to lucrative growth opportunities in the future with the rising demand for chocolate spread in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the chocolate spread market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- B and G Foods Inc.
- Dr. Oetker
- Ferrero Group
- Hormel Foods Corporation
- Kraft Foods
- Mondelz International
- Nestle
- Nutiva Inc.
- The Hershey Company
- The J.M. Smucker Company
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.