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Increased chocolate consumption is likely to fuel innovation in chocolate confectionery manufacturing, propelling the market during the forecast period.

The global chocolate confectionery market is expected to grow from $175.83 billion in 2022 to $185.09 billion in 2023 at a compound annual growth rate (CAGR) of 5.3%. The global chocolate confectionery market size is expected to reach $216.81 billion in 2027 at a CAGR of 4.0%.

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Global Chocolate Confectionery Market Segments Include:

• By Type: Milk Chocolate, Dark Chocolate, White chocolate
• By Category: Premium, Seasonal, Everyday
• By Distribution Channel: Supermarkets And Hypermarkets, Convenience Stores, Pharmaceutical and drug stores, Specialty stores, Duty-free stores, E-commerce, Other Distribution Channels
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Europe is the largest region in the global chocolate confectionery market in 2021.

Major Market Players in the chocolate confectionery market include Barry Callebaut, The Hershey Company, Nestle SA, Mars Incorporated, Lotte Corporation, Mondelez International Inc., Chocoladefabriken Lindt & Sprüngli AG, Ferrero SpA.

Product innovations have developed as a prominent trend in the chocolate confectionery business, gaining popularity. To maintain their market position, major chocolate confectionery firms are focusing on developing new goods. For example, in November 2022, Fabelle (a brand of ITC Limited), an India-based luxury chocolate manufacturer, will launch Fabelle Finesse, the world’s best chocolate. Fabelle can now create chocolate as thin as seven microns thanks to an innovative technology innovation by ITC called the Cocoa Finesser. This technology aids in reducing chocolate particle size to a new benchmark level that would be hard to achieve using only the usual refining process.

The Chocolate Confectionery Global Market Report 2023  provides a chocolate confectionery market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The chocolate confectionery market forecast analyzes chocolate confectionery market size, chocolate confectionery market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Chocolate confectionery covers ready-to-eat foods containing chocolate, cocoa, or nonfat cocoa solids, as well as meals with a chocolate-covered or chocolate-flavored coating.

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