Global Organic Chocolate Spreads Market
August 21, 2021 ⚊ 8 Min read ⚊ Views 297 ⚊ FINANCE
Global Organic Chocolate Spreads Market is anticipated to reach US$ XX Mn by 2026 from US$ 571.1 Mn in 2019 at a CAGR of XX % during a forecast period.
Global Organic Chocolate Spreads Market Overview
Organic Chocolate spread is multifunctional, since it may be eaten with bread, toast, waffles, pancakes, and cookies, among other things. Rising urbanization and the embrace of Western culture have resulted in greater product consumption. Rising food product innovation is driving up demand for the organic chocolate spread. Rising dish developments in cafés and restaurants, among other establishments, are also pushing global growth of the market.
Global Organic Chocolate Spreads Market
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Global Organic Chocolate Spreads Market Dynamics
The growth in customer desire for organic products is the most significant and significant trend in the chocolate market. Consumers all across the world are increasingly selecting healthy cuisine over traditional delights. The growing usage of chocolate spread as a complement to butter due to its low fat, high nutrition, and ease of spreadability over meals is expected to drive significant growth for the chocolate spread.
However, customers throughout the world are becoming increasingly interested in organic products as they become aware of the health advantages connected with the product, particularly dark chocolate variants. With organic spreads becoming a must-have breakfast item, demand is expected to be driven by growing consumer interest in low-calorie foods over the forecast period.
Additionally, increased customer demand for nutrient-rich goods due to the growing significance of health and wellbeing is expected to boost the market growth. As a result, numerous companies and start-ups have launched organic goods to obtain maximum customer traction.
Various product releases and advancements have occurred in the market in recent years. For example, Valeo Foods, an Irish global food, and beverage firm, joined the sector in February 2021 with the debut of ChocoBee, which is made entirely of sustainably produced ingredients. This new product line also represented the brand’s first venture outside of honey-based items. Also, Choco Group, UAB, introduced organic chocolate spreads under the Mulate brand in November 2020. These spreads come in a variety of tastes, including caramel, tahini, hemp, blackcurrant, and nut. Cocospread, a vegan and organic chocolate spread, was released in the United Kingdom by the Violife brand in August 2020. Cocospread is a dairy, gluten, and soy-free product that is also certified vegan, halal, and kosher.
Impact of COVID pandemic on the Organic Chocolate Spreads market
COVID pandemic has a major impact on the market in terms of sales as more than 44% of sales of units are hampered owing to disruption in transport capabilities of the manufacturers due to stringent norms of lockdown and increasing safety concerns. Furthermore, the closing of specialty stores & hypermarkets, supply chain interruptions, demand destruction, and changes in customer behavior owing to stringent lockdown conditions across the globe have impacted the chocolate spread market.
Despite Covid-19’s effects, processed dairy products can reach foodservice restaurants since most chains work closely with food supply companies to assure faultless deliveries and operations. This has kept the processed chocolate spread market stable. The fast development of foodservice companies has had a substantial influence on chocolate spread demand. As a result, customers have begun to modify their buying habits and prefer shopping online since it allows them to avoid direct interaction with others. Key industry companies are developing e-commerce websites in attractive areas. The epidemic has sparked a digital revolution in a variety of industries, including the food market. However, due to the reopening of offline distribution channels, particularly in Asian and North American countries, the market is anticipated to restore its importance soon.
Global Organic Chocolate Spreads Market Segmentation Analysis
By Product, in 2019, the hazelnut product segment had the greatest revenue share of more than 38%. Hazelnut is very nutritious and supports heart health since it includes vitamins, minerals, antioxidant chemicals, and good fats. These are some of the major elements fueling the product’s appeal. Health professionals promote hazelnut as a good source of dietary fiber that helps control bowel motions. As a result, customers’ preference for hazelnut as a nutritious and pleasant food component encourages producers to use it in as many food items as possible.
Global Organic Chocolate Spreads Market
The dark chocolate segment is expected to grow the quickest during the forecast period. Dark chocolate-based versions are high in minerals and vitamins, such as calcium and iron. Consuming dark chocolate with a high cocoa content provides several health advantages, including better heart health and cognitive function. Also, dark chocolate is popular among consumers seeking a robust flavor since it has a larger proportion of cocoa, making it bitter and less sweet than any other form of chocolate spread. Dark chocolate spreads are available from manufacturers such as Biona and Askinosie Chocolate and can be incorporated into everyday diets.
By Distribution Channel, in 2019, supermarkets and hypermarkets had a revenue share of more than 51% of the global market. Supermarkets and hypermarkets are self-service superstores that offer a wide range of products, including food, home supplies, and general merchandise, as well as organic foods such as chocolate spreads. Supermarkets meet all of the needs of their customers under one roof. These stores often draw a high number of customers and are positioned in the center of the city. The pricing of items at these stores varies by brand, giving customers the choice of selecting things from several brands based on their budget.
The online distribution channel sector is anticipated to increase at the quickest rate. E-commerce has grown in popularity in recent years due to its ease. Buyers all around the world are increasingly resorting to internet shopping for their everyday necessities, such as food, groceries, personal care goods, and organic products.
Global Organic Chocolate Spreads Market Regional Analysis
In 2019, Europe owned the greatest portion of the global market, accounting for more than 45 % of the total. Due to a significant number of exports, Europe is home to some of the world’s most revenue-generating countries for organic foods, including Russia, Spain, and Switzerland. Europe is the world’s largest chocolate producer and has the greatest number of organic certified firms that also create spreads. Furthermore, an increase in organic and fair-trade certified cocoa firms, as well as increased sales of organic goods in the region, are anticipated to boost the regional market growth.
Asia Pacific is predicted to be the fastest-growing regional market, with a CAGR of 5.7 % during the projection period. Rising product demand and millennial’ attention on ingredient source or origin is likely to drive market growth. Because of the existence of a large number of international and regional companies, the regional market is competitive and highly fragmented. Also, many multinational firms are increasing into countries such as China and Japan to explore new development prospects and obtain large market shares. In addition, prominent companies have used social media marketing and celebrity endorsements to gain a large portion of the regional market.
Global Organic Chocolate Spreads MarketThe objective of the report is to present a comprehensive analysis of the Global Organic Chocolate Spreads Market to the stakeholders in the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language.
The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Organic Chocolate Spreads Market dynamics, structure by analyzing the market segments and project the Global Organic Chocolate Spreads Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Global Organic Chocolate Spreads Market make the report investor’s guide.
Global Organic Chocolate Spreads Market Scope: Inquire before buying
Global Organic Chocolate Spreads Market
Global Organic Chocolate Spreads Market by Region
• North America
• Asia pacific
• Europe
• Middle East and Africa
• South America
Global Organic Chocolate Spreads Market Key Players
• Nutiva, Inc.
• Rigoni di Asiago
• Phalada Pure & Sure
• Askinosie Chocolate, LLC
• The Organic Family Ltd. (Mr. Organic)
• Cocofina
• Mason & Co.
• BIONA
• Artisana Organics
• Pana Organic
• J.M. Smucker
• Kraft Foods
• Unilever Group
• ConAgra Foods Inc
• B & G Foods Inc
• Ferrero Group
• Hershey Co
• Nestle
• Wellness Foods
• Premier Foods
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