Dublin, Dec. 08, 2021 (GLOBE NEWSWIRE) -- The "Milk Chocolate Market, Global Forecast, Impact of COVID-19, Industry Trends, by Product, Distribution, Growth, Opportunity Company Analysis" report has been added to ResearchAndMarkets.com's offering.
The Global Milk Chocolate Market is forecast to reach US$ 69.42 Billion by 2027.
The global chocolate industry has been segmented into Convenience Stores, Specialist Retailers, Online Channels, supermarkets/ hypermarkets, and others. Due to the presence of a high middle-income group, the specialty retail store was leading in terms of market share. Aside from traditional retailers, e-commerce is the next promising sector for the chocolate industry's growth. The market is being driven by rising online chocolate sales and increased demand for luxury chocolates.
Globally, the Milk Chocolate Market is booming. Milk chocolate consumption has grown over the world as a result of rising consumer spending power. As per the analysis, the Global Milk Chocolate Market Size is expected to grow at a CAGR of 3.70% during 2020-2027.
Globally, because of the presence of well-known brands and increasing chocolate consumption, the North American chocolate market holds a significant proportion.
One of the key causes for the rising demand for chocolates is the increased disposable income of customers in Asia Pacific's developing countries. The presence of a big population, combined with increased urbanization, is expected to enhance the demand for chocolate in nations such as South Korea, Japan, India, and China.
As per the research findings, the Worldwide Milk Chocolate Industry was US$ 53.83 Billion in 2020.
However, the major challenge in which the decelerating market is fluctuating raw material costs, particularly cocoa, supply instability, and political instability in cocoa-producing countries, are projected to pose a challenge to the market's growth throughout 2020-2027. Factors such as changing client flavour preferences from time to time are also a growing barrier.
COVID-19 Impact on Milk Chocolate Industry
COVID-19 had an impact on the chocolate market when it first appeared in 2020. However, after relaxing limitations in both importing and exporting countries, the market became more stable. During the lockdown, milk chocolate consumption at home increased dramatically.
Key Topics Covered:
2. Research Methodology
3. Executive Summary
4. Market Dynamics
4.1 Growth Drivers
5. Global Milk Chocolate Market
6. Market Share
6.1 By Product
6.2 By Distribution
6.3 By Region
7. By Product - Global Milk Chocolate Market
7.3 Molded Bars
7.4 Seasonal Chocolates
8. By Distribution - Global Milk Chocolate Market
8.2 Specialist Retailers
8.3 Convenience Stores
8.4 Online Channel
8.5 Other Distribution Channels
9. By Region - Global Milk Chocolate Market
9.1 North America
9.3 Asia Pacific
9.4 Latin America
9.5 Rest of the World
10. Company Analysis
The Hershey Company
Mondelez International, Inc.
Meiji Holdings Company, Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/yvf2jf
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