Hot Chocolate Market Size, Share & Trends Analysis Report By Distribution Channel (Offline, Online), By Region (North America, Europe, APAC, CSA, MEA), And Segment Forecasts, 2020 - 2027
The global hot chocolate market size is anticipated to reach USD 4.44 billion by 2027, expanding at a CAGR of 4.0% over the forecast period, according to a new report by Grand View Research, Inc. Growing awareness among consumers regarding associated health benefits of chocolate is a key factor driving the market. Furthermore, growing middle class population and rapid urbanization at the global level are expected to promote the industry growth over the forecast period.
Shifting consumer inclination towards nutritional products on account of rising incidence of cardiovascular disorders and surge in the number of weight management programs are expected to propel the demand for hot chocolate as a healthy option. Furthermore, increased number of health awareness videos on social media platforms, including YouTube and Facebook, by fitness enthusiasts is projected to upscale the requirements of hot chocolate.
The offline distribution channel segment held a major share of exceeding 90.0% in 2019. High product availability at supermarkets and hypermarkets and convenience stores is expected to favor sales of hot chocolate through offline channel in coming years. While the popularity of online sales channel is steadily growing, around 83% of consumers prefer offline channel as it provides the leverage of feel, touch, and taste, thereby driving the sales of hot chocolate through offline channel.
Online distribution channel is expected to expand at the highest CAGR of 7.5% from 2020 to 2027. Convenience of doorstep delivery, discounted price, and cash on delivery are the major factors influencing sale of hot chocolate through online channel. Moreover, entry of online retail giant Amazon in the online grocery industry is expected to boost hot chocolate sales through online channel in coming years.
Asia Pacific emerged as the largest regional market with share of 30.2% in 2019. This growth is attributed to rising awareness related to the health benefits of chocolate and increasing disposable income of the middle-class population in countries, such as China and India. Furthermore, growing presence of caf?s in the region is expected to contribute to the growth of the hot chocolate market in coming years. For instance, according to the Starbucks’ investor presentation, as of September 2019, the company’s total store count stood at 163 across 10 cities in India.
Further key findings from the study suggest:
Shifting consumer inclination towards nutritional products on account of rising incidence of cardiovascular disorders and surge in the number of weight management programs are expected to propel the demand for hot chocolate as a healthy option. Furthermore, increased number of health awareness videos on social media platforms, including YouTube and Facebook, by fitness enthusiasts is projected to upscale the requirements of hot chocolate.
The offline distribution channel segment held a major share of exceeding 90.0% in 2019. High product availability at supermarkets and hypermarkets and convenience stores is expected to favor sales of hot chocolate through offline channel in coming years. While the popularity of online sales channel is steadily growing, around 83% of consumers prefer offline channel as it provides the leverage of feel, touch, and taste, thereby driving the sales of hot chocolate through offline channel.
Online distribution channel is expected to expand at the highest CAGR of 7.5% from 2020 to 2027. Convenience of doorstep delivery, discounted price, and cash on delivery are the major factors influencing sale of hot chocolate through online channel. Moreover, entry of online retail giant Amazon in the online grocery industry is expected to boost hot chocolate sales through online channel in coming years.
Asia Pacific emerged as the largest regional market with share of 30.2% in 2019. This growth is attributed to rising awareness related to the health benefits of chocolate and increasing disposable income of the middle-class population in countries, such as China and India. Furthermore, growing presence of caf?s in the region is expected to contribute to the growth of the hot chocolate market in coming years. For instance, according to the Starbucks’ investor presentation, as of September 2019, the company’s total store count stood at 163 across 10 cities in India.
Further key findings from the study suggest:
- Online distribution channel is expected to expand at the fastest CAGR of 7.5% from 2020 to 2027. This is attributed to increasing preferences for e-commerce and rising dependence of generation X, millennials, and generation Z parents on internet
- Middle East and Africa is expected to expand at a highest CAGR of 5.8% over the forecast period and reach a value of USD 511.6 million by 2027. Improvement of economic indicators in countries, including Ethiopia, Nigeria, and Kenya is expected to open new avenues for the market in this region
- Some of the key manufacturers of hot chocolate are Nestle; Mondel?z International; The Hershey Company; Mars, Incorporated; Chocoladefabriken Lindt & Spr?ngli AG; Xucker GmbH; Cocosutra; HARIBO of America, Inc.; Twinings (Associated British Foods plc); and Valrhona Inc.
CHAPTER 1. METHODOLOGY AND SCOPE
1.1. Market Segmentation & Scope
1.2. Market Definition
1.3. Information Procurement
1.3.1. Purchased Database
1.3.2. GVR’s Internal Database
1.3.3. Secondary Sources & Third-Party Perspectives
1.3.4. Primary Research
1.4. Information Analysis
1.4.1. Data Analysis Models
1.5. Market Formulation & Data Visualization
1.6. Data Validation & Publishing
CHAPTER 2. EXECUTIVE SUMMARY
2.1. Market Outlook
2.2. Segmental Outlook
2.3. Competitive Insights
CHAPTER 3. HOT CHOCOLATE MARKET VARIABLES, TRENDS & SCOPE
3.1. Market Introduction
3.2. Penetration & Growth Prospect Mapping
3.3. Industry Value Chain Analysis
3.3.1. Sales/Retail Channel Analysis
3.3.2. Profit Margin Analysis
3.4. Market Dynamics
3.4.1. Market Driver Analysis
3.4.2. Market Restraint Analysis
3.4.3. Industry Challenges
3.4.4. Industry Opportunities
3.5. Business Environment Analysis
3.5.1. Industry Analysis - Porter’s
3.5.1.1. Supplier Power
3.5.1.2. Buyer Power
3.5.1.3. Substitution Threat
3.5.1.4. Threat from New Entrant
3.5.1.5. Competitive Rivalry
3.6. Roadmap of Hot Chocolate Market
3.7. Market Entry Strategies
CHAPTER 4. CONSUMER BEHAVIOR ANALYSIS
4.1. Consumer Trends and Preferences
4.2. Factors Affecting Buying Decision
4.3. Consumer Product Adoption
4.4. Observations & Recommendations
CHAPTER 5. HOT CHOCOLATE MARKET: DISTRIBUTION CHANNEL ESTIMATES & TREND ANALYSIS
5.1. Distribution Channel Movement Analysis & Market Share, 2019 & 2027
5.2. Offline
5.2.1. Market estimates and forecast, 2016 - 2027 (USD Million)
5.3. Online
5.3.1. Market estimates and forecast, 2016 - 2027 (USD Million)
CHAPTER 6. HOT CHOCOLATE MARKET: REGIONAL ESTIMATES & TREND ANALYSIS
6.1. Regional Movement Analysis & Market Share, 2019 & 2027
6.2. North America
6.2.1. Market estimates and forecast, 2016 - 2027 (USD Million)
6.2.2. Market estimates and forecast, by distribution channel, 2016 - 2027 (USD Million)
6.2.3. U.S.
6.2.3.1. Market estimates and forecast, 2016 - 2027 (USD Million)
6.2.3.2. Market estimates and forecast, by distribution channel, 2016 - 2027 (USD Million)
6.3. Europe
6.3.1. Market estimates and forecast, 2016 - 2027 (USD Million)
6.3.2. Market estimates and forecast, by distribution channel, 2016 - 2027 (USD Million)
6.3.3. Germany
6.3.3.1. Market estimates and forecast, 2016 - 2027 (USD Million)
6.3.3.2. Market estimates and forecast, by distribution channel, 2016 - 2027 (USD Million)
6.3.4. U.K.
6.3.4.1. Market estimates and forecast, 2016 - 2027 (USD Million)
6.3.4.2. Market estimates and forecast, by distribution channel, 2016 - 2027 (USD Million)
6.4. Asia Pacific
6.4.1. Market estimates and forecast, 2016 - 2027 (USD Million)
6.4.2. Market estimates and forecast, by distribution channel, 2016 - 2027 (USD Million)
6.4.3. China
6.4.3.1. Market estimates and forecast, 2016 - 2027 (USD Million)
6.4.3.2. Market estimates and forecast, by distribution channel, 2016 - 2027 (USD Million)
6.4.4. India
6.4.4.1. Market estimates and forecast, 2016 - 2027 (USD Million)
6.4.4.2. Market estimates and forecast, by distribution channel, 2016 - 2027 (USD Million)
6.5. Central & South America
6.5.1. Market estimates and forecast, 2016 - 2027 (USD Million)
6.5.2. Market estimates and forecast, by distribution channel, 2016 - 2027 (USD Million)
6.5.3. Brazil
6.5.3.1. Market estimates and forecast, 2016 - 2027 (USD Million)
6.5.3.2. Market estimates and forecast, by distribution channel, 2016 - 2027 (USD Million)
6.6. Middle East & Africa
6.6.1. Market estimates and forecast, 2016 - 2027 (USD Million)
6.6.2. Market estimates and forecast, by distribution channel, 2016 - 2027 (USD Million)
6.6.3. South Africa
6.6.3.1. Market estimates and forecast, 2016 - 2027 (USD Million)
6.6.3.2. Market estimates and forecast, by distribution channel, 2016 - 2027 (USD Million)
CHAPTER 7. COMPETITIVE ANALYSIS
7.1. Key global players, recent developments & their impact on the industry
7.2. Key Company/Competition Categorization (Key innovators, Market leaders, Emerging players)
7.3. Vendor Landscape
7.3.1. Key company market share analysis, 2018
CHAPTER 8. COMPANY PROFILES
8.1. Nestle
8.1.1. Company Overview
8.1.2. Financial Performance
8.1.3. Product Benchmarking
8.1.4. Strategic Initiatives
8.2. Mondel?z International
8.2.1. Company Overview
8.2.2. Financial Performance
8.2.3. Product Benchmarking
8.2.4. Strategic Initiatives
8.3. The Hershey Company
8.3.1. Company Overview
8.3.2. Financial Performance
8.3.3. Product Benchmarking
8.3.4. Strategic Initiatives
8.4. Mars, Incorporated
8.4.1. Company Overview
8.4.2. Financial Performance
8.4.3. Product Benchmarking
8.4.4. Strategic Initiatives
8.5. Chocoladefabriken Lindt & Spr?ngli AG
8.5.1. Company Overview
8.5.2. Financial Performance
8.5.3. Product Benchmarking
8.5.4. Strategic Initiatives
8.6. Xucker GmbH
8.6.1. Company Overview
8.6.2. Financial Performance
8.6.3. Product Benchmarking
8.6.4. Strategic Initiatives
8.7. Cocosutra
8.7.1. Company Overview
8.7.2. Financial Performance
8.7.3. Product Benchmarking
8.7.4. Strategic Initiatives
8.8. HARIBO of America, Inc.
8.8.1. Company Overview
8.8.2. Financial Performance
8.8.3. Product Benchmarking
8.8.4. Strategic Initiatives
8.9. Twinings (Associated British Foods plc)
8.9.1. Company Overview
8.9.2. Financial Performance
8.9.3. Product Benchmarking
8.9.4. Strategic Initiatives
8.10. Valrhona Inc.
8.10.1. Company Overview
8.10.2. Financial Performance
8.10.3. Product Benchmarking
8.10.4. Strategic Initiatives
1.1. Market Segmentation & Scope
1.2. Market Definition
1.3. Information Procurement
1.3.1. Purchased Database
1.3.2. GVR’s Internal Database
1.3.3. Secondary Sources & Third-Party Perspectives
1.3.4. Primary Research
1.4. Information Analysis
1.4.1. Data Analysis Models
1.5. Market Formulation & Data Visualization
1.6. Data Validation & Publishing
CHAPTER 2. EXECUTIVE SUMMARY
2.1. Market Outlook
2.2. Segmental Outlook
2.3. Competitive Insights
CHAPTER 3. HOT CHOCOLATE MARKET VARIABLES, TRENDS & SCOPE
3.1. Market Introduction
3.2. Penetration & Growth Prospect Mapping
3.3. Industry Value Chain Analysis
3.3.1. Sales/Retail Channel Analysis
3.3.2. Profit Margin Analysis
3.4. Market Dynamics
3.4.1. Market Driver Analysis
3.4.2. Market Restraint Analysis
3.4.3. Industry Challenges
3.4.4. Industry Opportunities
3.5. Business Environment Analysis
3.5.1. Industry Analysis - Porter’s
3.5.1.1. Supplier Power
3.5.1.2. Buyer Power
3.5.1.3. Substitution Threat
3.5.1.4. Threat from New Entrant
3.5.1.5. Competitive Rivalry
3.6. Roadmap of Hot Chocolate Market
3.7. Market Entry Strategies
CHAPTER 4. CONSUMER BEHAVIOR ANALYSIS
4.1. Consumer Trends and Preferences
4.2. Factors Affecting Buying Decision
4.3. Consumer Product Adoption
4.4. Observations & Recommendations
CHAPTER 5. HOT CHOCOLATE MARKET: DISTRIBUTION CHANNEL ESTIMATES & TREND ANALYSIS
5.1. Distribution Channel Movement Analysis & Market Share, 2019 & 2027
5.2. Offline
5.2.1. Market estimates and forecast, 2016 - 2027 (USD Million)
5.3. Online
5.3.1. Market estimates and forecast, 2016 - 2027 (USD Million)
CHAPTER 6. HOT CHOCOLATE MARKET: REGIONAL ESTIMATES & TREND ANALYSIS
6.1. Regional Movement Analysis & Market Share, 2019 & 2027
6.2. North America
6.2.1. Market estimates and forecast, 2016 - 2027 (USD Million)
6.2.2. Market estimates and forecast, by distribution channel, 2016 - 2027 (USD Million)
6.2.3. U.S.
6.2.3.1. Market estimates and forecast, 2016 - 2027 (USD Million)
6.2.3.2. Market estimates and forecast, by distribution channel, 2016 - 2027 (USD Million)
6.3. Europe
6.3.1. Market estimates and forecast, 2016 - 2027 (USD Million)
6.3.2. Market estimates and forecast, by distribution channel, 2016 - 2027 (USD Million)
6.3.3. Germany
6.3.3.1. Market estimates and forecast, 2016 - 2027 (USD Million)
6.3.3.2. Market estimates and forecast, by distribution channel, 2016 - 2027 (USD Million)
6.3.4. U.K.
6.3.4.1. Market estimates and forecast, 2016 - 2027 (USD Million)
6.3.4.2. Market estimates and forecast, by distribution channel, 2016 - 2027 (USD Million)
6.4. Asia Pacific
6.4.1. Market estimates and forecast, 2016 - 2027 (USD Million)
6.4.2. Market estimates and forecast, by distribution channel, 2016 - 2027 (USD Million)
6.4.3. China
6.4.3.1. Market estimates and forecast, 2016 - 2027 (USD Million)
6.4.3.2. Market estimates and forecast, by distribution channel, 2016 - 2027 (USD Million)
6.4.4. India
6.4.4.1. Market estimates and forecast, 2016 - 2027 (USD Million)
6.4.4.2. Market estimates and forecast, by distribution channel, 2016 - 2027 (USD Million)
6.5. Central & South America
6.5.1. Market estimates and forecast, 2016 - 2027 (USD Million)
6.5.2. Market estimates and forecast, by distribution channel, 2016 - 2027 (USD Million)
6.5.3. Brazil
6.5.3.1. Market estimates and forecast, 2016 - 2027 (USD Million)
6.5.3.2. Market estimates and forecast, by distribution channel, 2016 - 2027 (USD Million)
6.6. Middle East & Africa
6.6.1. Market estimates and forecast, 2016 - 2027 (USD Million)
6.6.2. Market estimates and forecast, by distribution channel, 2016 - 2027 (USD Million)
6.6.3. South Africa
6.6.3.1. Market estimates and forecast, 2016 - 2027 (USD Million)
6.6.3.2. Market estimates and forecast, by distribution channel, 2016 - 2027 (USD Million)
CHAPTER 7. COMPETITIVE ANALYSIS
7.1. Key global players, recent developments & their impact on the industry
7.2. Key Company/Competition Categorization (Key innovators, Market leaders, Emerging players)
7.3. Vendor Landscape
7.3.1. Key company market share analysis, 2018
CHAPTER 8. COMPANY PROFILES
8.1. Nestle
8.1.1. Company Overview
8.1.2. Financial Performance
8.1.3. Product Benchmarking
8.1.4. Strategic Initiatives
8.2. Mondel?z International
8.2.1. Company Overview
8.2.2. Financial Performance
8.2.3. Product Benchmarking
8.2.4. Strategic Initiatives
8.3. The Hershey Company
8.3.1. Company Overview
8.3.2. Financial Performance
8.3.3. Product Benchmarking
8.3.4. Strategic Initiatives
8.4. Mars, Incorporated
8.4.1. Company Overview
8.4.2. Financial Performance
8.4.3. Product Benchmarking
8.4.4. Strategic Initiatives
8.5. Chocoladefabriken Lindt & Spr?ngli AG
8.5.1. Company Overview
8.5.2. Financial Performance
8.5.3. Product Benchmarking
8.5.4. Strategic Initiatives
8.6. Xucker GmbH
8.6.1. Company Overview
8.6.2. Financial Performance
8.6.3. Product Benchmarking
8.6.4. Strategic Initiatives
8.7. Cocosutra
8.7.1. Company Overview
8.7.2. Financial Performance
8.7.3. Product Benchmarking
8.7.4. Strategic Initiatives
8.8. HARIBO of America, Inc.
8.8.1. Company Overview
8.8.2. Financial Performance
8.8.3. Product Benchmarking
8.8.4. Strategic Initiatives
8.9. Twinings (Associated British Foods plc)
8.9.1. Company Overview
8.9.2. Financial Performance
8.9.3. Product Benchmarking
8.9.4. Strategic Initiatives
8.10. Valrhona Inc.
8.10.1. Company Overview
8.10.2. Financial Performance
8.10.3. Product Benchmarking
8.10.4. Strategic Initiatives
LIST OF TABLES
1. Hot Chocolate - Key market driver analysis
2. Hot Chocolate - Key market restraint analysis
3. Global hot chocolate market estimates and forecast for offline channel, 2016 - 2027 (USD Million)
4. Global hot chocolate market estimates and forecast for online channel, 2016 - 2027 (USD Million)
5. North America hot chocolate market estimates and forecast, 2016 - 2027 (USD Million)
6. North America hot chocolate market revenue estimates and forecast by distribution channel, 2016 - 2027 (USD Million)
7. U.S. hot chocolate market estimates and forecast, 2016 - 2027 (USD Million)
8. U.S. hot chocolate market revenue estimates and forecast by distribution channel, 2016 - 2027 (USD Million)
9. Europe hot chocolate market estimates and forecast, 2016 - 2027 (USD Million)
10. Europe hot chocolate market revenue estimates and forecast by distribution channel, 2016 - 2027 (USD Million)
11. Germany hot chocolate market estimates and forecast, 2016 - 2027 (USD Million)
12. Germany hot chocolate market revenue estimates and forecast by distribution channel, 2016 - 2027 (USD Million)
13. U.K. hot chocolate market estimates and forecast, 2016 - 2027 (USD Million)
14. U.K. hot chocolate market revenue estimates and forecast by distribution channel, 2016 - 2027 (USD Million)
15. Asia Pacific hot chocolate market estimates and forecast, 2016 - 2027 (USD Million)
16. Asia Pacific hot chocolate market revenue estimates and forecast by distribution channel, 2016 - 2027 (USD Million)
17. China hot chocolate market estimates and forecast, 2016 - 2027 (USD Million)
18. China hot chocolate market revenue estimates and forecast by distribution channel, 2016 - 2027 (USD Million)
19. India hot chocolate market estimates and forecast, 2016 - 2027 (USD Million)
20. India hot chocolate market revenue estimates and forecast by distribution channel, 2016 - 2027 (USD Million)
21. Central & South America hot chocolate market estimates and forecast, 2016 - 2027 (USD Million)
22. Central & South America hot chocolate market revenue estimates and forecast by distribution channel, 2016 - 2027 (USD Million)
23. Brazil hot chocolate market estimates and forecast, 2016 - 2027 (USD Million)
24. Brazil hot chocolate market revenue estimates and forecast by distribution channel, 2016 - 2027 (USD Million)
25. Middle East & Africa hot chocolate market estimates and forecast, 2016 - 2027 (USD Million)
26. Middle East & Africa hot chocolate market revenue estimates and forecast by distribution channel, 2016 - 2027 (USD Million)
27. South Africa hot chocolate market estimates and forecast, 2016 - 2027 (USD Million)
28. South Africa hot chocolate market revenue estimates and forecast by distribution channel, 2016 - 2027 (USD Million)
29. Vendor landscape
1. Hot Chocolate - Key market driver analysis
2. Hot Chocolate - Key market restraint analysis
3. Global hot chocolate market estimates and forecast for offline channel, 2016 - 2027 (USD Million)
4. Global hot chocolate market estimates and forecast for online channel, 2016 - 2027 (USD Million)
5. North America hot chocolate market estimates and forecast, 2016 - 2027 (USD Million)
6. North America hot chocolate market revenue estimates and forecast by distribution channel, 2016 - 2027 (USD Million)
7. U.S. hot chocolate market estimates and forecast, 2016 - 2027 (USD Million)
8. U.S. hot chocolate market revenue estimates and forecast by distribution channel, 2016 - 2027 (USD Million)
9. Europe hot chocolate market estimates and forecast, 2016 - 2027 (USD Million)
10. Europe hot chocolate market revenue estimates and forecast by distribution channel, 2016 - 2027 (USD Million)
11. Germany hot chocolate market estimates and forecast, 2016 - 2027 (USD Million)
12. Germany hot chocolate market revenue estimates and forecast by distribution channel, 2016 - 2027 (USD Million)
13. U.K. hot chocolate market estimates and forecast, 2016 - 2027 (USD Million)
14. U.K. hot chocolate market revenue estimates and forecast by distribution channel, 2016 - 2027 (USD Million)
15. Asia Pacific hot chocolate market estimates and forecast, 2016 - 2027 (USD Million)
16. Asia Pacific hot chocolate market revenue estimates and forecast by distribution channel, 2016 - 2027 (USD Million)
17. China hot chocolate market estimates and forecast, 2016 - 2027 (USD Million)
18. China hot chocolate market revenue estimates and forecast by distribution channel, 2016 - 2027 (USD Million)
19. India hot chocolate market estimates and forecast, 2016 - 2027 (USD Million)
20. India hot chocolate market revenue estimates and forecast by distribution channel, 2016 - 2027 (USD Million)
21. Central & South America hot chocolate market estimates and forecast, 2016 - 2027 (USD Million)
22. Central & South America hot chocolate market revenue estimates and forecast by distribution channel, 2016 - 2027 (USD Million)
23. Brazil hot chocolate market estimates and forecast, 2016 - 2027 (USD Million)
24. Brazil hot chocolate market revenue estimates and forecast by distribution channel, 2016 - 2027 (USD Million)
25. Middle East & Africa hot chocolate market estimates and forecast, 2016 - 2027 (USD Million)
26. Middle East & Africa hot chocolate market revenue estimates and forecast by distribution channel, 2016 - 2027 (USD Million)
27. South Africa hot chocolate market estimates and forecast, 2016 - 2027 (USD Million)
28. South Africa hot chocolate market revenue estimates and forecast by distribution channel, 2016 - 2027 (USD Million)
29. Vendor landscape
LIST OF FIGURES
1. Hot Chocolate market snapshot
2. Hot Chocolate market segmentation & scope
3. Hot Chocolate market penetration & growth prospect mapping
4. Hot Chocolate value chain analysis
5. Hot Chocolate market dynamics
6. Hot Chocolate market: Porter's analysis
7. Hot Chocolate market: Distribution Channel movement analysis
8. Hot Chocolate market: Regional movement analysis
1. Hot Chocolate market snapshot
2. Hot Chocolate market segmentation & scope
3. Hot Chocolate market penetration & growth prospect mapping
4. Hot Chocolate value chain analysis
5. Hot Chocolate market dynamics
6. Hot Chocolate market: Porter's analysis
7. Hot Chocolate market: Distribution Channel movement analysis
8. Hot Chocolate market: Regional movement analysis
