Recent developments in the global chocolate market
In 2021, the global chocolate market will be worth approximately USD 106.6 billion. The global chocolate market is expected to grow further at a CAGR of 5.5% during 2022-2027, reaching USD 147 billion by 2027.
Dark chocolate will occupy a significant market share in the chocolate industry. The growth of its market share is mainly due to the growing perception that dark chocolate has health benefits. For example, dark chocolate may reduce the risk of cardiovascular disease, lower cholesterol, and also help lower blood pressure.
In addition, the high content of cocoa in dark chocolate is beneficial to prevent aging and cardiovascular diseases. There are also studies showing that chocolate helps relieve stress.
All these factors mentioned above will help drive the market development of the chocolate industry during the forecast period.
North America will also hold a significant market share in the chocolate industry. The growth of the North American market share is related to the changing lifestyles and increasing purchasing power of consumers in the region.
Meanwhile, Asia Pacific will be the region with the fastest growth in market share in the chocolate industry, with emerging economies such as India and China driving the market growth.
