The global Organic Chocolate Spreads market size is expected to be worth around US$ 934.0 Mn by 2030, according to a new report by Vision Research Reports.
The global Organic Chocolate Spreads market size was valued at US$ 581.0 Mn in 2020 and is anticipated to grow at a CAGR of 10.8% during forecast period 2021 to 2030.
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Increasing consumption of chocolate-based spreads as a part of the breakfast meal coupled with consumer inclination towards organic and natural food products is expected to be a key factor driving the market over the forecast period.
The hazelnut segment accounted for the largest share of the market in 2020 and will expand further at a steady CAGR from 2021 to 2030 due to rising product innovation in this segment. For instance, in October 2019, Rigoni di Asiago launched the Nocciolata Bianca Hazelnut Spread, which is gluten-free and is high in protein. Companies all over the globe, especially start-ups, have been focusing on making products available to consumers through online distribution channels. Moreover, the increasing influence of western food habits in the Asia Pacific region has significantly increased the salability of the product in the market.
Supermarkets & hypermarkets emerged as the largest distribution channel segment in 2020 accounting for a revenue share of over 50%. These stores focus on customer satisfaction and specific food categories pertaining to organic products. Also, the availability of complete household items of all brands in one place drives the segment growth.
The hazelnut product segment accounted for the highest revenue share of more than 48% in 2020. Hazelnut promotes heart health and is highly nutritious as it contains vitamins, minerals, antioxidant compounds, and healthy fats. These are among the key factors driving the popularity of the product. Hazelnut is a rich source of dietary fiber that helps regulate bowel movements and is recommended by health experts. Thus, consumers’ inclination towards hazelnut as a healthy and tasty food ingredient is encouraging manufacturers to incorporate it in maximum food items.
The dark chocolate segment is projected to register the fastest growth during the forecast period. Dark chocolate-based variants are loaded with minerals, such as calcium & iron, as well as vitamins. Consuming dark chocolate that has significant cocoa content offers several health benefits including improved heart health and brain function. Also, dark chocolate is popular among consumers looking for a strong taste as it has a higher percentage of cocoa, which makes it bitter and less sweet than any other type of chocolate spread. Manufacturers, such as Biona and Askinosie Chocolate, offer dark chocolate spreads that can be included in daily diets.
Supermarkets and hypermarkets held a revenue share of more than 51% in the global market in 2020. Supermarkets and hypermarkets are self-service superstores that sell a variety of products ranging from food, household items, and general merchandise to organic foods, such as chocolate spreads. Supermarkets cater to all the requirements of consumers under one roof.
Europe held the largest share in the global market of more than 54% in 2020. Europe houses some of the world’s most revenue-generating countries, such as Russia, Spain, and Switzerland for organic foods owing to a large number of exports. Europe is the world’s largest chocolate producer and also has a maximum number of organic certified companies, which also manufacture spreads. In addition, increasing organic and fair-trade certified cocoa companies and growing sales of organic products in the region are likely to favor the regional market growth. Furthermore, the high millennial and Gen Z population in the region is expected to generate a noteworthy demand for the product.
|Market Size||US$ 934.0 Mn by 2030|
|Growth Rate||CAGR of 10.8% From 2021 to 2030|
|Forecast Year||2021 to 2030|
|Segments Covered||Product, Distribution Channel, Region|
|Companies Mentioned||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|
- Nutiva, Inc.
- Rigoni di Asiago
- Phalada Pure & Sure
- Askinosie Chocolate, LLC
- The Organic Family Ltd. (Mr. Organic)
- Mason & Co.
- Artisana Organics
- Pana Organic
- Product Outlook
- Distribution Channel Outlook
- Hypermarket & Supermarket
- Regional Outlook
- North America
- The Netherlands
- Asia Pacific
- South Korea
- Central & South America
- Middle East & Africa
- South Africa
- Saudi Arabia
- North America
The study objectives of this report are:
- To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
- Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
- To define, describe and forecast the market by type, application and region.
- To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
- To identify significant trends and factors driving or inhibiting the market growth.
- To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
- To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
- To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
- To strategically profile the key players and comprehensively analyze their growth strategies.
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