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White Chocolate Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

September 2023 | 147 pages | ID: WE541FC60CAEN
IMARC Group

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Market Overview:

The global white chocolate market size reached US$ 18.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 21.2 Billion by 2028, exhibiting a growth rate (CAGR) of 1.9% during 2023-2028.

White chocolate is a blend of cocoa butter, sugar, milk products, vanilla, and lecithin, which is a fatty emulsifier assisting in combining different ingredients. Its consumption can be associated with various health benefits, such as elevating mood, boosting immunity, improving digestion, relieving stress, and lowering the risk of hypertension and heart failure. Presently, it is available in different colors, including white, pale yellow, or ivory, and is widely used in numerous snacks and beverages, such as cookies, popcorns, cupcakes, milkshakes, coffee, and smoothies.

White Chocolate Market Trends:
The increasing consumption of confectionery items on account of rapid urbanization and changing consumer preferences, tastes, and eating habits represent one of the key factors impelling market growth. Moreover, the rising awareness about the health benefits of white chocolate, such as improving low blood sugar levels for people suffering from hypoglycemia, is driving the market further. Apart from this, due to the high presence of cocoa butter, white chocolate is extensively utilized in formulating various cosmetic and personal care products, such as lotions, lip balms, hair removal wax, nail enamel, and anti-aging and scar-reducing topical treatments. It assists the skin in forming a thin protective barrier that locks in moisture and blocks out harsh outside elements. Besides this, key manufacturers are using fruit powders to produce sugar-free chocolates. They are also introducing vegan variants made using plant-based milk alternatives like oat, soy, or coconut. This, in confluence with the emerging adoption of veganism, is anticipated to impel the growth of the market in the coming years.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the global white chocolate market report, along with forecasts at the global and regional levels from 2023-2028. Our report has categorized the market based on distribution channel.

Breakup by Distribution Channel:

Supermarkets and Hypermarkets
Convenience Stores
Non-Grocery Retailers
Others

Supermarkets and hypermarkets account for a majority of the share due to the easy availability of a wide variety of white chocolates as compared to other distribution channels.

Breakup by Key Regions:

Western Europe
North America
Eastern Europe
Asia
Latin America
The Middle East and Africa
Australasia

Western Europe holds the largest market share on account of the high consumption of confectionery items across the region.

Competitive Landscape:
The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry.

This report provides a deep insight into the global white chocolate industry covering all its essential aspects. This ranges from a macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. The report also provides a comprehensive analysis for setting up a white chocolate manufacturing plant. The study analyses the processing and manufacturing requirements, project cost, project funding, project economics, expected returns on investment, profit margins, etc. This report is a must-read for entrepreneurs, investors, consultants, and all those who have any kind of stake or are planning to foray into the white chocolate industry in any manner.

Key Questions Answered in This Report

1. What was the size of the global white chocolate market in 2022?
2. What is the expected growth rate of the global white chocolate market during 2023-2028?
3. What are the key factors driving the global white chocolate market?
4. What has been the impact of COVID-19 on the global white chocolate market?
5. What is the breakup of the global white chocolate market based on the distribution channel?
6. What are the key regions in the global white chocolate market?
1 PREFACE

2 SCOPE AND METHODOLOGY

2.1Objectives of the Study
2.2Stakeholders
2.3Data Sources
  2.3.1Primary Sources
  2.3.2Secondary Sources
2.4Market Estimation
  2.4.1Bottom-Up Approach
  2.4.2Top-Down Approach
2.5Forecasting Methodology

3 EXECUTIVE SUMMARY

4 INTRODUCTION

4.1Overview
4.2Key Industry Trends

5 GLOBAL CHOCOLATE INDUSTRY

5.1Market Overview
5.2Market Performance
  5.2.1 Volume Trends
  5.2.2 Value Trends
5.3Market Breakup by Region
5.4Market Breakup by Product
5.5Market Breakup by Packaging
5.6Market Breakup by End-Use
5.7Market Share of Key Players
5.8Market Forecast

6 GLOBAL WHITE CHOCOLATE INDUSTRY

6.1Market Overview
6.2Market Performance
  6.2.1 Volume Trends
  6.2.2 Value Trends
6.3Impact of COVID-19
6.4Price Analysis
  6.4.1 Key Price Indicators
  6.4.2 Price Structure
  6.4.3 Price Trends
6.5Market by Region
6.6Market by Distribution Channel
6.7Market Forecast
6.8SWOT Analysis
  6.8.1 Overview
  6.8.2 Strength
  6.8.3 Weakness
  6.8.4 Opportunity
  6.8.5 Threat
6.9Value Chain Analysis
  6.9.1 Overview
  6.9.2 Cocoa Growers
  6.9.3 Cocoa Grinders
  6.9.4 Coverture/Industrial Chocolate Manufacturers
  6.9.5 End Use Industries
  6.9.6 Chocolate Manufacturers
  6.9.7 Distributors
  6.9.8 Exporters
  6.9.9 Retailers
6.10Porters Five Forces Analysis
  6.10.1 Overview
  6.10.2 Bargaining Power of Buyers
  6.10.3 Bargaining Power of Suppliers
  6.10.4 Degree of Rivalry
  6.10.5 Threat of New Entrants
  6.10.6 Threat of Substitutes
6.11Key Success and Risk Factors

7 PERFORMANCE OF KEY REGIONS

7.1Western Europe
  7.1.1 Market Trends
  7.1.2 Market Forecast
7.2North America
  7.2.1 Market Trends
  7.2.2 Market Forecast
7.3Eastern Europe
  7.3.1 Market Trends
  7.3.2 Market Forecast
7.4Asia
  7.4.1 Market Trends
  7.4.2 Market Forecast
7.5Latin America
  7.5.1 Market Trends
  7.5.2 Market Forecast
7.6Middle East and Africa
  7.6.1 Market Trends
  7.6.2 Market Forecast
7.7Australasia
  7.7.1 Market Trends
  7.7.2 Market Forecast

8 PERFORMANCE BY DISTRIBUTION CHANNEL

8.1Supermarkets and Hypermarkets
  8.1.1 Market Trends
  8.1.2 Market Forecast
8.2Convenience Stores
  8.2.1 Market Trends
  8.2.2 Market Forecast
8.3Non-Grocery Retailers
  8.3.1 Market Trends
  8.3.2 Market Forecast
8.4Others
  8.4.1 Market Trends
  8.4.2 Market Forecast

9 COMPETITIVE LANDSCAPE

10 WHITE CHOCOLATE MANUFACTURING PROCESS

10.1Product Overview
10.2Detailed Process Flow
10.3Various Types of Unit Operations Involved
10.4Mass Balance and Raw Material Requirements

11 PROJECT DETAILS, REQUIREMENTS AND COSTS INVOLVED

11.1Land, Location and Site Development
11.2Construction Requirements and Expenditures
11.3Plant and Machinery
11.4Machinery Pictures
11.5Raw Materials Requirements and Expenditures
11.6Raw Material and Final Product Pictures
11.7Packaging Requirements and Expenditures
11.8Transportation Requirements and Expenditures
11.9Utilities Requirements and Expenditures
11.10Manpower Requirements and Expenditures
11.11Other Capital Investments

12 WHITE CHOCOLATE MANUFACTURING PLANT: LOANS AND FINANCIAL ASSISTANCE

13 WHITE CHOCOLATE MANUFACTURING PLANT: PROJECT ECONOMICS

13.1Capital Cost of the Project
13.2Techno-Economic Parameters
13.3Product Pricing and Margins Across Various Levels of the Supply Chain
13.4Taxation and Depreciation
13.5Income Projections
13.6Expenditure Projections
13.7Financial Analysis
13.8Profit Analysis

14 KEY PLAYER PROFILES


LIST OF TABLES

Table 1: Global: Chocolate Market: Key Industry Highlights, 2022 and 2028
Table 2: Global: White Chocolate Market: Key Industry Highlights, 2022 and 2028
Table 3: Global: White Chocolate Market Forecast: Breakup by Region (in Tons), 2023-2028
Table 4: Global: White Chocolate Market Forecast: Breakup by Distribution Channel (in Tons), 2023-2028
Table 5: White Chocolate Manufacturing Plant: Raw Material Requirements (in Tons/Day)
Table 6: White Chocolate Manufacturing Plant: Costs Related to Land and Site Development (in US$)
Table 7: White Chocolate Manufacturing Plant: Costs Related to Civil Works (in US$)
Table 8: White Chocolate Manufacturing Plant: Machinery Costs (in US$)
Table 9: White Chocolate Manufacturing Plant: Raw Material Requirements (in Tons/Day)
Table 10: White Chocolate Manufacturing Plant: Costs Related to Utilities
Table 11: White Chocolate Manufacturing Plant: Costs Related to Salaries and Wages (in US$)
Table 12: White Chocolate Manufacturing Plant: Costs Related to Other Capital Investments (in US$)
Table 13: White Chocolate Manufacturing Plant: Capital Costs (in US$)
Table 14: White Chocolate Manufacturing Plant: Techno-Economic Parameters
Table 15: White Chocolate Manufacturing Plant: Taxation (in US$)
Table 16: White Chocolate Manufacturing Plant: Depreciation (in US$)
Table 17: White Chocolate Manufacturing Plant: Income Projections (in US$)
Table 18: White Chocolate Manufacturing Plant: Expenditure Projections (in US$)
Table 19: White Chocolate Manufacturing Plant: Cash Flow Analysis Without Considering the Income Tax Liability (in US$)
Table 20: White Chocolate Manufacturing Plant: Cash Flow Analysis on Considering the Income Tax Liability (in US$)
Table 21: White Chocolate Manufacturing Plant: Profit and Loss Account (in US$)

LIST OF FIGURES

Figure 1: Global: White Chocolate Market: Major Drivers and Challenges
Figure 2: Global: Chocolate Market: Volume Trends (in Million Tons), 2017-2022
Figure 3: Global: Chocolate Market: Value Trends (in Billion US$), 2017-2022
Figure 4: Global: Chocolate Market: Breakup by Region (in %), 2022
Figure 5: Global: Chocolate Market: Breakup by Product (in %), 2022
Figure 6: Global: Chocolate Market: Breakup by Packaging (in %), 2022
Figure 7: Global: Chocolate Market: Breakup by End-Use (in %), 2022
Figure 8: Global: Chocolate Market: Breakup by Key Players (in %), 2022
Figure 9: Global: Chocolate Market Forecast: Volume Trends (in Million Tons), 2023-2028
Figure 10: Global: Chocolate Market Forecast: Value Trends (in Billion US$), 2023-2028
Figure 11: Global: White Chocolate Market: Volume Trends (in Million Tons), 2017-2022
Figure 12: Global: White Chocolate Market: Value Trends (in Billion US$), 2017-2022
Figure 13: White Chocolate Market: Price Structure
Figure 14: Global: White Chocolate Market: Average Prices (in US$/Ton), 2017-2022
Figure 15: Global: White Chocolate Market Forecast: Average Prices (in US$/Ton), 2023-2028
Figure 16: Global: White Chocolate Market: Breakup by Region (in %), 2022
Figure 17: Global: White Chocolate Market: Breakup by Distribution Channel (in %), 2022
Figure 18: Global: White Chocolate Market Forecast: Volume Trends (in Million Tons), 2023-2028
Figure 19: Global: White Chocolate Market Forecast: Value Trends (in Billion US$), 2023-2028
Figure 20: Global: White Chocolate Industry: SWOT Analysis
Figure 21: Global: White Chocolate Industry: Value Chain Analysis
Figure 22: Global: White Chocolate Industry: Porter’s Five Forces Analysis
Figure 23: Global: White Chocolate Market Forecast: Breakup by Region (in %), 2028
Figure 24: Western Europe: White Chocolate Market: Sales Volume (in Tons), 2017 & 2022
Figure 25: Western Europe: White Chocolate Market Forecast: Sales Volume (in Tons), 2023-2028
Figure 26: North America: White Chocolate Market: Sales Volume (in Tons), 2017 & 2022
Figure 27: North America: White Chocolate Market Forecast: Sales Volume (in Tons), 2023-2028
Figure 28: Eastern Europe: White Chocolate Market: Sales Volume (in Tons), 2017 & 2022
Figure 29: Eastern Europe: White Chocolate Market Forecast: Sales Volume (in Tons), 2023-2028
Figure 30: Asia: White Chocolate Market: Sales Volume (in Tons), 2017 & 2022
Figure 31: Asia: White Chocolate Market Forecast: Sales Volume (in Tons), 2023-2028
Figure 32: Latin America: White Chocolate Market: Sales Volume (in Tons), 2017 & 2022
Figure 33: Latin America: White Chocolate Market Forecast: Sales Volume (in Tons), 2023-2028
Figure 34: Middle East and Africa: White Chocolate Market: Sales Volume (in Tons), 2017 & 2022
Figure 35: Middle East and Africa: White Chocolate Market Forecast: Sales Volume (in Tons), 2023-2028
Figure 36: Australasia: White Chocolate Market: Sales Volume (in Tons), 2017 & 2022
Figure 37: Australasia: White Chocolate Market Forecast: Sales Volume (in Tons), 2023-2028
Figure 38: Global: White Chocolate Market: Sales through Supermarkets and Hypermarkets (in Tons), 2017 & 2022
Figure 39: Global: White Chocolate Market Forecast: Sales through Supermarkets and Hypermarkets (in Tons), 2023-2028
Figure 40: Global: White Chocolate Market: Sales through Convenience Stores (in Tons), 2017 & 2022
Figure 41: Global: White Chocolate Market Forecast: Sales through Convenience Stores (in Tons), 2023-2028
Figure 42: Global: White Chocolate Market: Sales through Non-Grocery Retailers (in Tons), 2017 & 2022
Figure 43: Global: White Chocolate Market Forecast: Sales through Non-Grocery Retailers (in Tons), 2023-2028
Figure 44: Global: White Chocolate Market: Sales through Other Distribution Channels (in Tons), 2017 & 2022
Figure 45: Global: White Chocolate Market Forecast: Sales through Other Distribution Channels (in Tons), 2023-2028
Figure 46: White Chocolate Manufacturing Plant: Detailed Process Flow
Figure 47: White Chocolate Manufacturing: Conversion Rate of Products and By Products
Figure 48: White Chocolate Manufacturing Process: Breakup of Capital Costs (in %)
Figure 49: White Chocolate Production: Manufacturing Cost Breakup (in %)
Figure 50: White Chocolate Manufacturing Plant: Margins Across Various Stages of the Supply Chain


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