The latest report by IMARC Group titled, “Milk Chocolate Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2017-2022”, finds that the global milk chocolate market reached a value of nearly US$ 59 Billion in 2016, growing at a CAGR of nearly 4% during 2009-2016.Milk chocolate is one of the most preferred chocolates in the world. The principal ingredients of milk chocolate are sugar, chocolate liquor, and cocoa solids. Along with this, liquid milk, or milk powder are also added to give the chocolate a rich and smooth texture. Milk chocolate possesses a fairly lighter colour as compared to dark chocolate and offers a creamy flavour. Owing to its popularity, milk chocolate is being used in a variety of food products – cookies, chocolate bars, cakes and crispies; beverages – syrups and smoothies; cosmetics, etc.
Highlights of the global milk chocolate market:
- The widening applications and health benefits of milk chocolate are the biggest driving factors for the growth of the market.
- Europe represents the largest market for milk chocolate, accounting for the majority of the share.
- The market is expected to reach a value of around US$ 70.5 Billion by 2022
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Milk chocolate provides several health benefits, as a result of which its demand has witnessed an increase in the past several years. A research has found milk chocolate to be beneficial for boosting memory, preventing cardiovascular diseases, improving the immune system, besides offering a hydrated and smooth skin. Apart from this, the presence of flavonoids, a type of antioxidants found in milk chocolate, helps in stimulating the blood flow by removing ‘free radicals’ from the blood stream which are a primary cause of age-related arthritis. Owing to these factors, the market for milk chocolate is expected to reach a value of around US$ 70.5 Billion by 2022.
The market is segmented on the basis of distribution channels, which covers super- and hyper-markets, convenience stores, and non-grocery retailers. The market is also segmented on the basis of key regions, including Western Europe, North America, Eastern Europe, Asia, Latin America, Middle East and Africa, and Australasia. Amongst these, Europe is the largest market for milk chocolate, accounting for the majority of the market share.
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The report provides a deep insight into the global milk chocolate industry covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. The report also provides a comprehensive analysis for setting up a milk chocolate manufacturing plant. The study analyses the processing and manufacturing requirements, project cost, project funding, project economics, expected returns on investment, profit margins, etc. This report is a must-read for entrepreneurs, investors, consultants, and all those who have any kind of stake or are planning to foray into the milk chocolate industry in any manner.
The report has examined the global milk chocolate market on the basis of:
- Super- and Hyper-markets
- Convenience stores
- Non-Grocery Retailers
- Western Europe
- North America
- Eastern Europe
- Latin America
- Middle East and Africa
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Country: United States