Industrial chocolate market to grow by 5% by 2030 – forecast
Key Market Trends
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Europe will account for 38% of the growth, making this region the leading market for industrial chocolate.
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Health factor – dark chocolate is in demand due to its high antioxidant properties and ability to reduce stress.
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Risks – fluctuations in prices for cocoa beans and sugar may affect production costs.
Analysts note that demand for chocolate is also associated with its effect on mental health – when consumed, serotonin and endorphins are produced, which helps combat anxiety and depression. In addition, consumers are increasingly choosing chocolate without sugar and processed products, which is creating new product categories on the market.
According to Technavio forecasts, the expected reduction in the cocoa bean harvest in West Africa will increase the gap between supply and demand, which will lead to an increase in raw material prices. This may affect production costs and prices for end consumers.
