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With the continuous improvement of residents’ living standards and changes in consumption habits, chocolate snacks, as a popular snack food, are increasingly becoming the darling of consumers. Especially in areas that attach great importance to creating a holiday atmosphere and improving the quality of life, such as China, the United States and Europe, the market demand for nut-rich chocolate snacks is steadily increasing.
Global chocolate market demand continues to grow
According to earlier data, the global chocolate market size will reach approximately US$119.4 billion in 2023, and is expected to continue to grow at a compound annual growth rate (CAGR) of 4.6% between 2023 and 2028. This shows that global demand for chocolate snacks remains strong, and although sales of chocolate snacks in certain segments such as the United States may be flat, the overall market remains positive.
Europe is the main region for chocolate snack consumption, benefiting from consumers’ higher disposable income and preference for cocoa-based candy consumption, especially the increased awareness of dark chocolate and the growth of handmade chocolate consumption. In addition, rising health awareness across the globe has increased the demand for dark chocolate products with higher cocoa content and lower sugar, which is also an important factor driving the market growth.
As for the Chinese market, although per capita consumption is relatively low, the market potential is huge. The market size is expected to reach US$4.01 billion by 2024 and continue to expand at a compound annual growth rate of 4.81% until 2029. This shows the development space and growth potential of China’s chocolate snack market.
Therefore, the demand in the global chocolate snack market is huge, and this demand is expected to continue to expand driven by multiple factors such as health orientation, product innovation, and expansion into emerging markets. Despite economic fluctuations and changes in consumer preferences, the market fundamentals of chocolate snacks remain solid as one of the world’s most popular snacks.
The reason why the global chocolate snacks market is booming
The global chocolate snack market shows a booming momentum, and the main reasons can be summarized as follows:
Rising consumer demand
With the improvement of living standards and diversification of eating habits of residents around the world, chocolate snacks, as a widely loved leisure snack, are growing in popularity. Especially in countries that focus on holiday celebrations and improving the quality of life, such as China, the United States and many places in Europe, the demand for nut chocolate is rising.
Product diversification is driven by innovation
Chocolate snack manufacturers continue to explore product innovation, introducing nut chocolates with different flavors such as dark chocolate, white chocolate, milk chocolate, as well as low-fat and additive-free healthy options to cater to consumers’ individual needs.
Extensive coverage of online platforms
The rapid development of Internet technology and e-commerce has opened up new sales channels for chocolate snack brands such as nut chocolate, which not only enhances brand influence but also greatly expands the potential customer base and promotes further market expansion.
Fierce competition among multinational brands
International brands have poured into the Chinese market, intensifying competition in the chocolate snack industry and promoting the dual growth of market maturity and scale. It is estimated that by the end of 2022, the overall scale of China’s chocolate snack market will reach 62.7 billion yuan.
Popularization of health concepts
With the general increase in people’s health awareness, the chocolate snack industry is transforming in a healthy direction by adding antioxidants, dietary fiber and other nutrients, making chocolate snacks a food choice that is more in line with modern health concepts.
Promotion of sustainable agriculture
In order to meet the growing market demand, chocolate nut growing areas are committed to sustainable agricultural practices aimed at improving yield and quality, which has laid a solid foundation for the continued expansion of the chocolate and nut chocolate snacks market.
The rise of organic chocolate
As a combination of health and environmental protection concepts, the organic chocolate market is growing rapidly at an average annual rate of about 7%, indicating that this segment will become an important growth point in the chocolate snack market in the future.
To sum up, the global chocolate snacks market has benefited from many positive factors and shows great development potential and prospects for continued growth.
Lucky Fruit: Professional chocolate snack manufacturer
Glücksfrucht is a manufacturer located in China that specializes in the production of chocolate snacks and nut snacks. Our product line is rich and diverse, covering not only traditional chocolate products, such as chocolate sunflower seeds, chocolate peanuts, chocolate crunchy balls, chocolate popping candies und chocolate gummies, and other nut snacks such as cracker peanuts, showing the company’s continuous efforts in product innovation. Glücksfrucht attaches great importance to the cooperative relationship with customers. Not only provides high-quality and delicious snack products, but also willing to share the latest industry information and grow with customers, which reflects our business philosophy of being customer-oriented and pursuing long-term cooperation and common development.
Click here to see all our production of chocolate snacks and nut snacks!
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