Global Chocolate Confectionery Sector to See Shift in Consumption, States Euromonitor in Its Report Available at MarketPublishers.com05 Sep 2016 • by Natalie Aster
LONDON – The growth of the worldwide market for chocolate confectionery is hindered by the factors such as the replacement for other snacks, negative perceptions of health and a gradual decrease in the growth rates in promising marketplaces. With more snacks currently available, chocolate is losing its dominance as the default snack for many. This threat creates a range of opportunities that may give rise to a permanent shift in how chocolate is consumed worldwide.
Adverse health connotations keep on undermining sales of chocolate in Western Europe and North America. There are a slew of novel snacks like energy bars, nuts and meat snacks, which have contrived to draw audiences seeking healthy options to confectionery. These products have become the norm and will make it difficult for the chocolate sector to expand and grow, unless it will be able to embrace local health trends.
In relation to other snacks, chocolate is out of the bounds of the price range of many in such markets as China, India and the Middle East. This is not likely to change in the near future. Players that have a small market share will be in need of targeting 2nd and 3rd tier cities, where freshly-formed middle classes have developed, with a view to gaining market share.
Topical report “Global Chocolate Confectionery Overview: Challenges, Opportunities and Risks” elaborated by Euromonitor offers comprehensive analysis of the global chocolate confectionery market. The study sheds light on the versatile buzz topics, emerging geographies, categories and key trends; pinpoints growth sectors and scrutinises the factors stimulating the change in this domain as well as the challenges in the global chocolate confectionery market. The report analyses the competitive environment and gives an overview of the leading companies and brands. Additionally, comprehensive five-year forecasts limelighting how the sector is poised to develop are available.
More in-demand market research studies by Euromonitor are available at its page.