PGBM 146 Seminar 6: Chocolate Industry Analysis

Chocolate Regional Insights

The North American chocolate market will dominate this market, The region's cheaper
chocolates are causing rising health concerns, and fine cocoa is becoming more and more they-
liked. As a result, North American consumers are willing to pay more for chocolate products
that satisfy their needs.

Further, the major countries studied in the market report are the US, Canada, German, France,
the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Europe’s chocolate market accounts for the second-largest market share due to the Growing
consumer demand for dark chocolate in the area is a key factor in the expansion of the regional
market. ITC Trade Map 2020 data show that nearly 1,521 thousand tons of chocolate products
they’re imported into Europe. In addition, Europe was the region with the highest per capita
consumption of chocolate, which the CBI, Ministry of Foreign Affairs estimates to be 5
kilograms. In the upcoming years, these factors are anticipated to strengthen the local market.
Further, the German chocolate market held the largest market share, and the UK chocolate
market was the fastest-growing market in Europe.

The Asia-Pacific Chocolate Market is expected to grow at the fastest CAGR from 2023 to 2032.
This expansion can be attributed to the region's retail stores’ more available products.
Additionally, the region should have easier access to goods due to encouraging government
initiatives like tax breaks for chocolate makers and grinders. Another element promoting
regional growth is the rising demand for artisanal chocolates. Additional factors anticipated to
increase the region's chocolate sales include growing consumer awareness, product innovation,
middle-class consumers' increased disposable incomes, and expanding manufacturers'
distribution channels. Moreover, China’s chocolate market held the largest market share, and
the Indian chocolate market was the fastest-growing in Asia-Pacific.
Chocolate Key Market Players & Competitive Insights

Leading market players are investing heavily in research and development in order to expand
their product lines, which will help the chocolate market grow even more. Market participants
are also undertaking various strategic activities to expand their footprint, with important market
developments including new product launches, contractual agreements, mergers and
acquisitions, higher investments, and collaboration with other organizations. The chocolate
industry must offer cost-effective items to expand and survive in a more competitive and rising
market climate.

Manufacturing locally to minimize operational costs is one of the key business tactics
manufacturers use in the chocolate industry to benefit clients and increase the market sector.
The chocolate industry has offered some of the most significant medical advantages in recent
years. Major players in the chocolate market, including Mondelez International, Inc. (US),
Nestlé S.A. (Switzerland), Blommer Chocolate Company (US), Barry Callebaut (Switzerland),
Puratos Group (Belgium), Lindt & Sprüngli AG (Switzerland), Ferrero Group (Luxembourg),
Mars Incorporated (US), Ezaki Glico Co., Ltd. (Japan), Pladis (London), Orion Corp. (South
Korea), Meiji Holding Co. Ltd. (Japan), General Mills Inc. (US), Guittard Chocolate Company
(US), and The Hershey Company (US) and others, are attempting to increase market demand
by investing in research and development operations.

Nestle SA, Nestlé is who they are. Good company, good food. Food can improve people's lives.
The senses are fed and entertained by good food. It promotes the health and they-being of
children, pets, and elderly parents. They can all benefit from living life to the fullest. Good
food preserves resources for future generations and respects our planet. Yet, the world is
evolving quickly. They also understand that tomorrow must be better for what works today.
Think about how difficult it will be to provide for the needs of 10 billion people by 2050.
Innovating and changing will be necessary for this. Regarding food, beverages, and nutritional
health solutions, Nestlé is constantly pushing the envelope. In this manner, they can improve
the quality of life and contribute to a healthier future for all. Today, our company employs about
275,000 people, has over 2,000 brands, and operates in 188 countries.

Ferrero Group (Luxembourg), With its cherished confections, The Ferrero Group cheers up
people everywhere. The Ferrero Group, with more than 35 well-known brands like Kinder,
Nutella, Ferrero Rocher, and Tic Tac that are sold in more than 170 countries, was founded in
1946 by brothers Pietro and Giovanni Ferrero in Alba, a charming town in northern Italy. It is
now one of the largest street-packaged food companies in the world. The portfolio of the
family-owned company, now in its third generation, Ferrero, is expanding to include even more
legendary brands like Thorntons, Fannie May, Butterfinger, and Eat Natural. The Ferrero
culture, which has more than 35,000 "Ferrerians" worldwide, is founded on strong family
values, a commitment to quality and excellence, and respect for the environment and the
communities where they work.