Europe Chocolate - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2024 - 2030)
The Europe Chocolate Market size is estimated at 47.28 billion USD in 2024, and is expected to reach 61.42 billion USD by 2030, growing at a CAGR of 4.46% during the forecast period (2024-2030).
Proximity factor of various distribution channels like supermarkets/hypermarkets and convenience stores drove the market, holding a share of almost 80% in 2023
Supermarkets/hypermarkets are the largest channels in the European chocolate confectionery market. The channels grew by 3.62% by value in 2023 compared to 2022 in terms of the distribution channel segment for Europe’s chocolate confectionery sales. The proximity factor of these channels in the countries provides them with an added advantage of influencing the consumer’s decision to purchase among the large variety of products available in the market. The sales value of chocolate confectionery products in supermarkets and hypermarkets increased by 3.62% in 2023 compared to 2022 and is anticipated to register a CAGR of 4.01% during the forecast period in the region.
Convenience stores are the second most widely preferred distribution channel after supermarkets and hypermarkets for purchasing chocolate products across Europe. The segment acquired a volume growth of 3.2% in 2023 compared to 2022. The key factors driving consumer preference for these stores are the broader reach and easy access to private-label brands and the increasing expansion of these channels. Among the regions, the United Kingdom recorded the highest number of convenience stores, with over 47,000 stores existing in the country in 2021.
Online channels are the fastest-growing distribution channel through which chocolate confectionery products are consumed in the region. Consumers prefer online channels as they provide quick, convenient delivery options. The high internet penetration in the region also drives the demand for these channels. In 2022, the region had 750 million internet users, with an internet penetration rate of 89.7% of the total population. The online channels are further projected to register a growth of 18% by value from 2024 to 2027.
The United Kingdom, followed by Russia, leads the regional growth; together, they held a value growth of almost 45% in 2023
The consumer’s paradigm shift toward high-quality chocolate products, such as single-origin chocolates, organic chocolates, handmade chocolates, artisan chocolates, and other chocolate products, is a major factor driving the regional chocolate market. There is tremendous demand for dark chocolates, as they have less sugar and taste more like cocoa, and they are perceived to be genuine and low in sugar content. By value, the European chocolate market observed a growth of 3.91% in 2022 compared to 2021.
Germany and the United Kingdom are identified as the major markets in the region, followed by Russia and France. Germany and the United Kingdom collectively accounted for 46.24% of the chocolate sales in 2022. The increasing availability of different varieties of chocolates led to their high demand, fueled by the impulsive purchase behavior of consumers. Thus, with the growing demand for chocolate, country-level players are focusing on increasing their production. Germany produced about 1,182,000 tonnes of chocolates in 2020.
Spain is identified as the fastest-growing chocolate market in Europe. The market is anticipated to grow at a rate of 5.64% from 2023 to 2024 in terms of value. Spain’s sweet tooth has been on the rise in recent years, with a peak in chocolate and cocoa product consumption. In 2022, the per capita consumption of chocolate in Spain was around 5.68 kg per person.
By chocolate type, milk and white chocolate hold a significant share of more than 50% of Europe's chocolate market. The demand for white chocolate is expanding steadily. Leading milk and white chocolate brands, like Lindt, Cadbury, Galaxy, and Milky Bar, are widely popular among local consumers.
Europe Chocolate Market Trends
The strong production capacity of chocolates in European countries supported the chocolate industry’s growth
Europe was responsible for processing 35% of the world’s cacao and consuming 45% of the world's chocolate consumption in 2023. The average Swiss individual consumes about 20 pounds of chocolate annually, making Switzerland the country with the largest per capita consumption of chocolate in the world in 2023.
While making purchases, a variety of customer sectors look for high-quality labels like organic production, ethical production (like Fairtrade), sustainable sourcing, and Rainforest Alliance certification. Manufacturers in Brazil also use additional characteristics for greater distinctiveness, such as antioxidant content and type of cacao.
Price fluctuations in the chocolate industry majorly depend on the price changes in raw materials such as cocoa, sugar, and dairy products. Consumers are cutting back on chocolate due to the cost-of-living crisis in Europe. About 40% of Britons traded down to cheaper products in both snacks and confectionery in the four to six weeks ended mid-May 2022.
In Europe, the consumption of chocolate is generally viewed from a health perspective with a mix of opinions. For instance, 73% of the population favors milk/plain type of chocolate, whereas dark chocolate accounts for around 70% of all chocolate consumed in Switzerland.
Europe Chocolate Industry Overview
The Europe Chocolate Market is moderately consolidated, with the top five companies occupying 60.30%. The major players in this market are Chocoladefabriken Lindt & Sprьngli AG, Ferrero International SA, Mars Incorporated, Mondel?z International Inc. and Nestlй SA (sorted alphabetically).
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
Proximity factor of various distribution channels like supermarkets/hypermarkets and convenience stores drove the market, holding a share of almost 80% in 2023
Supermarkets/hypermarkets are the largest channels in the European chocolate confectionery market. The channels grew by 3.62% by value in 2023 compared to 2022 in terms of the distribution channel segment for Europe’s chocolate confectionery sales. The proximity factor of these channels in the countries provides them with an added advantage of influencing the consumer’s decision to purchase among the large variety of products available in the market. The sales value of chocolate confectionery products in supermarkets and hypermarkets increased by 3.62% in 2023 compared to 2022 and is anticipated to register a CAGR of 4.01% during the forecast period in the region.
Convenience stores are the second most widely preferred distribution channel after supermarkets and hypermarkets for purchasing chocolate products across Europe. The segment acquired a volume growth of 3.2% in 2023 compared to 2022. The key factors driving consumer preference for these stores are the broader reach and easy access to private-label brands and the increasing expansion of these channels. Among the regions, the United Kingdom recorded the highest number of convenience stores, with over 47,000 stores existing in the country in 2021.
Online channels are the fastest-growing distribution channel through which chocolate confectionery products are consumed in the region. Consumers prefer online channels as they provide quick, convenient delivery options. The high internet penetration in the region also drives the demand for these channels. In 2022, the region had 750 million internet users, with an internet penetration rate of 89.7% of the total population. The online channels are further projected to register a growth of 18% by value from 2024 to 2027.
The United Kingdom, followed by Russia, leads the regional growth; together, they held a value growth of almost 45% in 2023
The consumer’s paradigm shift toward high-quality chocolate products, such as single-origin chocolates, organic chocolates, handmade chocolates, artisan chocolates, and other chocolate products, is a major factor driving the regional chocolate market. There is tremendous demand for dark chocolates, as they have less sugar and taste more like cocoa, and they are perceived to be genuine and low in sugar content. By value, the European chocolate market observed a growth of 3.91% in 2022 compared to 2021.
Germany and the United Kingdom are identified as the major markets in the region, followed by Russia and France. Germany and the United Kingdom collectively accounted for 46.24% of the chocolate sales in 2022. The increasing availability of different varieties of chocolates led to their high demand, fueled by the impulsive purchase behavior of consumers. Thus, with the growing demand for chocolate, country-level players are focusing on increasing their production. Germany produced about 1,182,000 tonnes of chocolates in 2020.
Spain is identified as the fastest-growing chocolate market in Europe. The market is anticipated to grow at a rate of 5.64% from 2023 to 2024 in terms of value. Spain’s sweet tooth has been on the rise in recent years, with a peak in chocolate and cocoa product consumption. In 2022, the per capita consumption of chocolate in Spain was around 5.68 kg per person.
By chocolate type, milk and white chocolate hold a significant share of more than 50% of Europe's chocolate market. The demand for white chocolate is expanding steadily. Leading milk and white chocolate brands, like Lindt, Cadbury, Galaxy, and Milky Bar, are widely popular among local consumers.
Europe Chocolate Market Trends
The strong production capacity of chocolates in European countries supported the chocolate industry’s growth
Europe was responsible for processing 35% of the world’s cacao and consuming 45% of the world's chocolate consumption in 2023. The average Swiss individual consumes about 20 pounds of chocolate annually, making Switzerland the country with the largest per capita consumption of chocolate in the world in 2023.
While making purchases, a variety of customer sectors look for high-quality labels like organic production, ethical production (like Fairtrade), sustainable sourcing, and Rainforest Alliance certification. Manufacturers in Brazil also use additional characteristics for greater distinctiveness, such as antioxidant content and type of cacao.
Price fluctuations in the chocolate industry majorly depend on the price changes in raw materials such as cocoa, sugar, and dairy products. Consumers are cutting back on chocolate due to the cost-of-living crisis in Europe. About 40% of Britons traded down to cheaper products in both snacks and confectionery in the four to six weeks ended mid-May 2022.
In Europe, the consumption of chocolate is generally viewed from a health perspective with a mix of opinions. For instance, 73% of the population favors milk/plain type of chocolate, whereas dark chocolate accounts for around 70% of all chocolate consumed in Switzerland.
Europe Chocolate Industry Overview
The Europe Chocolate Market is moderately consolidated, with the top five companies occupying 60.30%. The major players in this market are Chocoladefabriken Lindt & Sprьngli AG, Ferrero International SA, Mars Incorporated, Mondel?z International Inc. and Nestlй SA (sorted alphabetically).
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
1 EXECUTIVE SUMMARY & KEY FINDINGS
2 REPORT OFFERS
3 INTRODUCTION
3.1 Study Assumptions & Market Definition
3.2 Scope of the Study?
3.3 Research Methodology
4 KEY INDUSTRY TRENDS
4.1 Regulatory Framework
4.2 Consumer Buying Behavior
4.3 Ingredient Analysis
4.4 Value Chain & Distribution Channel Analysis
5 MARKET SEGMENTATION (INCLUDES MARKET SIZE IN VALUE IN USD AND VOLUME, FORECASTS UP TO 2030 AND ANALYSIS OF GROWTH PROSPECTS)
5.1 Confectionery Variant
5.1.1 Dark Chocolate
5.1.2 Milk and White Chocolate
5.2 Distribution Channel
5.2.1 Convenience Store
5.2.2 Online Retail Store
5.2.3 Supermarket/Hypermarket
5.2.4 Others
5.3 Country
5.3.1 Belgium
5.3.2 France
5.3.3 Germany
5.3.4 Italy
5.3.5 Netherlands
5.3.6 Russia
5.3.7 Spain
5.3.8 Switzerland
5.3.9 Turkey
5.3.10 United Kingdom
5.3.11 Rest of Europe
6 COMPETITIVE LANDSCAPE
6.1 Key Strategic Moves
6.2 Market Share Analysis
6.3 Company Landscape
6.4 Company Profiles
6.4.1 Alfred Ritter GmbH & Co. KG
6.4.2 Barry Callebaut AG
6.4.3 Blanxart Chocolate
6.4.4 Chocoladefabriken Lindt & Sprьngli AG
6.4.5 Chocolate Amatller
6.4.6 Confiserie Leonidas SA
6.4.7 Duffy's Chocolate
6.4.8 Ferrero International SA
6.4.9 Mars Incorporated
6.4.10 Mondel?z International Inc.
6.4.11 Nestlй SA
6.4.12 Polo del Gusto SRL
6.4.13 Valrhona Chocolate
6.4.14 Whitakers Chocolates Ltd
6.4.15 Y?ld?z Holding AS
7 KEY STRATEGIC QUESTIONS FOR CONFECTIONERY CEOS
8 APPENDIX
8.1 Global Overview
8.1.1 Overview
8.1.2 Porter’s Five Forces Framework
8.1.3 Global Value Chain Analysis
8.1.4 Market Dynamics (DROs)
8.2 Sources & References
8.3 List of Tables & Figures
8.4 Primary Insights
8.5 Data Pack
8.6 Glossary of Terms
2 REPORT OFFERS
3 INTRODUCTION
3.1 Study Assumptions & Market Definition
3.2 Scope of the Study?
3.3 Research Methodology
4 KEY INDUSTRY TRENDS
4.1 Regulatory Framework
4.2 Consumer Buying Behavior
4.3 Ingredient Analysis
4.4 Value Chain & Distribution Channel Analysis
5 MARKET SEGMENTATION (INCLUDES MARKET SIZE IN VALUE IN USD AND VOLUME, FORECASTS UP TO 2030 AND ANALYSIS OF GROWTH PROSPECTS)
5.1 Confectionery Variant
5.1.1 Dark Chocolate
5.1.2 Milk and White Chocolate
5.2 Distribution Channel
5.2.1 Convenience Store
5.2.2 Online Retail Store
5.2.3 Supermarket/Hypermarket
5.2.4 Others
5.3 Country
5.3.1 Belgium
5.3.2 France
5.3.3 Germany
5.3.4 Italy
5.3.5 Netherlands
5.3.6 Russia
5.3.7 Spain
5.3.8 Switzerland
5.3.9 Turkey
5.3.10 United Kingdom
5.3.11 Rest of Europe
6 COMPETITIVE LANDSCAPE
6.1 Key Strategic Moves
6.2 Market Share Analysis
6.3 Company Landscape
6.4 Company Profiles
6.4.1 Alfred Ritter GmbH & Co. KG
6.4.2 Barry Callebaut AG
6.4.3 Blanxart Chocolate
6.4.4 Chocoladefabriken Lindt & Sprьngli AG
6.4.5 Chocolate Amatller
6.4.6 Confiserie Leonidas SA
6.4.7 Duffy's Chocolate
6.4.8 Ferrero International SA
6.4.9 Mars Incorporated
6.4.10 Mondel?z International Inc.
6.4.11 Nestlй SA
6.4.12 Polo del Gusto SRL
6.4.13 Valrhona Chocolate
6.4.14 Whitakers Chocolates Ltd
6.4.15 Y?ld?z Holding AS
7 KEY STRATEGIC QUESTIONS FOR CONFECTIONERY CEOS
8 APPENDIX
8.1 Global Overview
8.1.1 Overview
8.1.2 Porter’s Five Forces Framework
8.1.3 Global Value Chain Analysis
8.1.4 Market Dynamics (DROs)
8.2 Sources & References
8.3 List of Tables & Figures
8.4 Primary Insights
8.5 Data Pack
8.6 Glossary of Terms
