Global White Chocolate Market Will Grow by USD 1.8 Billion During 2019-2023 | Technavio
LONDON--(BUSINESS WIRE)--Apr 12, 2019--Technavio has announced the release of their research report on the global white chocolate market for the forecast period 2019-2023. This global white chocolate market analysis report segments the market by product (white chocolate bars, white chocolate bulk, and white chocolate truffles) and geography (APAC, Europe, MEA, North America, and South America).
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Technavio has published a new market research report on the global white chocolate market from 2019-2023. (Graphic: Business Wire)
Global white chocolate market size will grow by almost USD 1.8 billion during 2019-2023, at a CAGR of nearly 2%. There is a significant rise in the demand for premium, high-end, and indulgent white chocolates across the globe. Leading vendors such as Barry Callebaut, Chocoladefabriken Lindt & Sprungli, Yildiz Holding, and Ferrero are offering premium white chocolates in the form of bars and truffles. The US-based ONE Brands recently added One White Chocolate Truffle Bar to its premium product portfolio. Similarly, in Australia, Nestle-owned KitKat launched the caramelized white chocolate bar Gold. The rising trend of premiumization of white chocolate is one of the key trends that will fuel the market’s growth during the forecast period.
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Rising adoption of white chocolate in diverse application sectors
White chocolate has negligible caffeine content and a smoother buttery structure compared to other chocolate types. These properties have led to the increased adoption of white chocolates in the food and beverages sector. Unilever’s ice cream brand Magnum recently launched white chocolate flavored ice creams in the UK.
Similarly, Mondelez International-owned Cadbury launched Dream ice-cream made of white chocolate in the UK. Starbucks Coffee Company also offers a range of products such as Black and White Mocha, Black and White Mocha Frappucino, and Black and White-Hot Cocoa containing white chocolate. This will increase the demand for white chocolate across various applications in the F&B sector, driving the growth of the global white chocolate market.
“ The demand for white chocolate in Europe is expanding steadily. Frequent product launches and the growing demand for organic and vegan chocolate consumption has boosted the growth of the white chocolate market in Europe. Similarly, Brazil has the largest market for white chocolate in the South American region, where white chocolate is the second most preferred chocolate variant. Furthermore, the presence of major vendors such as Arcor, Mondelez International, Mars, and Chocoladefabriken Lindt & Sprungli is also expected to drive white chocolate market growth in the region, ” says an analyst at Technavio.
The growing awareness among consumers has increased the consumption of organic, vegan and gluten-free white chocolates. Vendors are offering such products to stay ahead of the competition. For instance, Germany-based Vego Food World recently launched a white chocolate version of its popular vegan chocolate bar in the UK. Similarly, the UK-based company Plamil launched So Free, a gluten-free chocolate line which includes a dairy-free white chocolate alternative. The coming years will witness several such product launches, which is expected to fuel the growth of the global white chocolate market.
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This global white chocolate industry research report provides an in-depth analysis of the major drivers, upcoming trends, and challenges that will impact market growth over the forecast period. The report analyzes the competitive landscape and offers details on several white chocolate manufacturers including -
- Chocoladefabriken Lindt & Sprüngli AG
- Mars, Incorporated and its Affiliates
- Mondelēz International
- The Hershey Company
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. Technavio’s report library consists of more than 10,000 reports covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies.
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SOURCE: Technavio Research
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PUB: 04/12/2019 10:10 AM/DISC: 04/12/2019 10:11 AM